Jeffrey Fry of Manegain Talks about His Startup Experience
Where are you from originally?
Alexandria Virginia, but was born in San Juan, PR. Grew up pretty much up
and down the East Coast from VA to MA. Moved to Midland, Texas in 81 from
CT, then to Maine, then Massachusetts, then Florida, then California, then
back to Austin, Texas in 96.
What university did you go to?
Lafayette College in Easton PA, got my BSEE. Also, St. Edwards in their MBA
program but did not finish.
What brought you to Austin?
I was working for Philips in Sunnyvale and hired away by AMD to help with
their embedded processor strategy
What is the idea behind your startup?
To help people regain their confidence by naturally regrowing their hair.
What need does it fulfill?
Offers an all natural, non-toxic, drug free treatment for baldness and
thinning hair.
What exactly does your product do?
Restores scalp to a condition when hair grew naturally
Who is it for?
Men and women who are experiencing hair loss. Free placements of units in
high end hair salons, and day/med spas
What was the most challenging aspect of starting up a business?
Funding and making sure you can make a profit. Oh yeah, having great
teammates!
What is the next step for you and your startup?
Securing the next round of funding and expanding to 150 locations in 6
months
What advice do you have for entrepreneurs?
Watch out for wedgies: those people who want to take a piece of your company
and NOT offer any substantial help in moving you to a profitable endeavor.
Also, NEVER pay for someone to find money for you!
What Austin-based resource have you found to be the most helpful and why?
Bootstrap Austin, Tech Ranch, Door64, Austin Top Guns. Great resources for
networking and meeting people for ideas and help. Also, the Hills Fitness
has incredibly been a great place to meet talented people.
Monday, December 14, 2009
Sunday, December 13, 2009
AEN—Our First Year in Review
As we come to the end of the first year for the Austin Entrepreneur Network, we look back. We launched at the beginning of the year to bring networking, mentoring, and funding to startups in Austin. I’m proud to say we made great strides in all three areas.
We launched our new website in June, 2009, and recently went through another update this month. The website hosts over 30 blogs from experts in Austin. Entrepreneurs can benefit from the knowledge of experts in the area of finance, web, sales, marketing and more. The AEN Resource page has a list of over 130 groups in Austin related to entrepreneurship.
AEN also launched the First Look Forum which seeks to generate mentorship for startups. In a First Look Forum, ten entrepreneurs give their Fastpitch followed by ten mentors also giving a Fastpitch. We then go through a 5-minute “speed date” between each mentor and each entrepreneur. On average, each entrepreneur finds three mentors to followup with.
In the area of mentoring, AEN kicked off a Shortcourse series on social media and web with over 160 attendees in the Fall series. We also ran three Startup Business Classes providing mentorship to over 40 companies.
For funding, AEN ran the Central Texas Funding Forum 2009 in May with David Rose of the New York Angels providing the keynote address. With over 140 in attendance the event hosted 20+ breakout sessions providing mentorship as well as 15 entrepreneurs giving their Fastpitch to potential investors. The Baylor Angel Network launched bringing more investors to the Austin entrepreneur community.
Finally, AEN launched the Austin Fastpitch Show highlighting 6 entrepreneurs giving their Fastpitch on video which will soon launch on the AEN site. This gives more exposure to Austin entrepreneurs through the web to find networking, mentorship and funding.
We want to say thanks to the many bloggers, investors, providers, and entrepreneurs who participated in the first year of AEN and look forward to serving the Austin community for years to come.
Best regards,
Hall T.
We launched our new website in June, 2009, and recently went through another update this month. The website hosts over 30 blogs from experts in Austin. Entrepreneurs can benefit from the knowledge of experts in the area of finance, web, sales, marketing and more. The AEN Resource page has a list of over 130 groups in Austin related to entrepreneurship.
AEN also launched the First Look Forum which seeks to generate mentorship for startups. In a First Look Forum, ten entrepreneurs give their Fastpitch followed by ten mentors also giving a Fastpitch. We then go through a 5-minute “speed date” between each mentor and each entrepreneur. On average, each entrepreneur finds three mentors to followup with.
In the area of mentoring, AEN kicked off a Shortcourse series on social media and web with over 160 attendees in the Fall series. We also ran three Startup Business Classes providing mentorship to over 40 companies.
For funding, AEN ran the Central Texas Funding Forum 2009 in May with David Rose of the New York Angels providing the keynote address. With over 140 in attendance the event hosted 20+ breakout sessions providing mentorship as well as 15 entrepreneurs giving their Fastpitch to potential investors. The Baylor Angel Network launched bringing more investors to the Austin entrepreneur community.
Finally, AEN launched the Austin Fastpitch Show highlighting 6 entrepreneurs giving their Fastpitch on video which will soon launch on the AEN site. This gives more exposure to Austin entrepreneurs through the web to find networking, mentorship and funding.
We want to say thanks to the many bloggers, investors, providers, and entrepreneurs who participated in the first year of AEN and look forward to serving the Austin community for years to come.
Best regards,
Hall T.
Wednesday, December 9, 2009
Eve Richter the Emerging Technologies Coordinator of Austin talks about her View of Startups
Where are you from originally?
This is always a fun one. Born in NY, then NJ, RI, MA (Boston), Los Angeles (graduated from Santa Monica High School), then Sacramento for almost 20 years. So I’m both a Yankee AND a Californian. So much beloved here in Texas, without a doubt. I’m a Red Sox Fan by heritage, and Celtics fan by acclimatization. And, of course, I bleed burnt orange.
What university did you go to?
I got my B.S. (Business with Minors in Gov’t and Public Policy) and MBA from California State University, Sacramento. I got my Master’s in Public Affairs from the LBJ School here at UT.
What brought you to Austin?
I came for the LBJ School. I stayed for the community (and a great job). I really love it here. I can get good food, good fun, good weather, great people, and I can afford to live in a neighborhood and house I want to live in. Who can ask for anything more? (OK, a couple of professional sports teams would be nice, but I’ll deal.)
What is your passion and strength?
From a business perspective, I love to see companies make it past the 2-guys-in-a-garage stage, and make it to successful launch. I get a real thrill from that. My core strength is probably marketing, but I’m also good at seeing the big picture, identifying gaps and next steps. I’m not bad at finance either. I also am a crazy networker. I really do tend to know almost everyone. So getting the right people in the room together is another strength of mine. I am the queen of the “mutual introduction.”
What need does it fulfill?
I like being a part of something successful. I like having had a role. So if I can provide some assistance that helps get a company to that next stage, I guess I get to feel like I’ve accomplished something. For companies, I’m kind of a link between the government and the community and the professional services and the resources and . . . so on.
What exactly do you bring to startups?
I call myself a combination between business consultant, sales & marketer, and matchmaker. I get the right people in the room together, make appropriate introductions, and bring my experience and background to bear in helping companies steer from where they are to where they need to go.
What type of startup would benefit from your strengths?
I work primarily with technology startups, from someone with just an idea to a post-launch company looking to grow. My areas include clean energy, digital media, wireless communications, biotechnology, nanotechnology, other early stage technology commercialization, and . . . well, almost anything with a website. I do tech. Lately I’ve branched out into some lesser known areas like food service and other randomly strange companies – just because I was there and couldn’t help myself – but my real expertise is in the tech fields.
What was the most challenging aspect of starting up a business?
I think making that leap from an employee to a business owner. It’s terrifying. I get the question a lot – “when should I quit my job?” My usual answer is “that’s between you, your bank account, and your spouse.” I know how scary it is, I’ve done it. It’s risky, but it’s necessary to reach that rewarding stage (and it is there, if not every time). You have to have the stomach for entrepreneurship, and it’s not for everyone. But it’s addicting. Of course, in the current economy, you could also say getting funding is the most challenging. But really, I think in most cases when the money needs to be there, it can be found, even if it’s not easy. For a first-time startup, I think it’s that first leap of faith into running your own business full-time.
What advice do you have for entrepreneurs?
DO YOUR HOMEWORK. Get all the help available to you from so many quarters – take the classes, meet others who’ve done it already, network network network. It’s not a waste of time if you can get advice and maybe partnerships that can help you. Do the necessary research (market research, competitive research, product research, all of it). Know what you’re getting into and what you’ll need. Have a plan and stick to it until it no longer makes sense, and then make another plan. Don’t wait for perfection, it never comes. You need to make it and sell it. Having the greatest product in the world doesn’t matter if you can’t sell it. Oh – and remember to have fun! This is your business; make the environment you want to be in. If running your own company is worse than being an employee, you’re doing something wrong. Don’t get me wrong – you’ll work your butt off, you won’t have any time off, you’ll spend all of your money. But at least have fun doing it.
What Austin-based resource have you found to be the most helpful and why?
Me, of course, ha ha. No, seriously, I don’t think I can pick just one. It really depends on the situation. We are so fortunate here in Austin to have not just government-provided assistance, but also community-based assistance. I hesitate to mention any for the fear of forgetting some, but the Austin Technology Incubator, Tech Ranch, Capital Factory, Central Texas Angel Network, Austin Entrepreneurs Network, Door 64, Bootstrap Austin, Austin Startup, Business District, and so on – these are places to get information, assistance, money, startup support, information, etc. (Apologies in advance if I left you out, please know it was unintentional.) If you really want to know what’s out there for YOU, look me up and I’ll point you in the right direction. Early stage folks need different resources than revenue positive folks looking to grow.
Tuesday, November 17, 2009
Arjaree Keeratiprapa Talks about the TYE Group in Austin
Arjaree Keeratiprapa Talks about the TYE Group in Austin
Where are you from originally?
I’m originally from Thailand, but have spent my life living between Bangkok and the US.
What university did you go to?
I went to college in Thailand, and just completed my MBA at Penn State.
What brought you to Austin?
My fiancé and the warm weather brought me here to Austin.
What is your passion and strength?
My passion is learning about what drives behavior in end users, whether it is the consumer or the business user of a product. My strength is being able to understand that end user insight and apply it to product development and marketing efforts.
What need does it fulfill?
In order for any product or company to connect and engage with their end user, they first need to understand their needs.
What exactly do you bring to startups?
I bring my curiosity and end user insight to the table. Whether a startup is trying to develop a new product or launch their product into the market, it is critical that they have a deep understanding of what their end users want and expect from the product in order to succeed. I can help startups bring value to their end users.
What type of startup would benefit from your strengths?
Startups in their early stages that are still trying to define who they are and what value they offer. It is critical that startups have a clearly defined identity of themselves from the start in order for their end users to believe in them.
What was the most challenging aspect of starting up a business?
The planning process is probably the most challenging aspect because often times it is overlooked. Startups that spend time in the planning process thinking through their business model will tend to have fewer problems or will be better able to handle them when they arise.
What advice do you have for entrepreneurs?
Don’t wait for the perfect time to start something because there will never be one.
What Austin-based resource have you found to be the most helpful and why?
TiE Austin has been instrumental in connecting me with many accomplished entrepreneurs in town, who in turn have been able to provide me with sound advice, as well as inspiration, for my endeavors. Through TiE Austin, I am now involved in launching their new initiative, TiE Young Entrepreneurs (TYE), which enables me to give back to the organization and help students who are interested in the entrepreneurial field.
Where are you from originally?
I’m originally from Thailand, but have spent my life living between Bangkok and the US.
What university did you go to?
I went to college in Thailand, and just completed my MBA at Penn State.
What brought you to Austin?
My fiancé and the warm weather brought me here to Austin.
What is your passion and strength?
My passion is learning about what drives behavior in end users, whether it is the consumer or the business user of a product. My strength is being able to understand that end user insight and apply it to product development and marketing efforts.
What need does it fulfill?
In order for any product or company to connect and engage with their end user, they first need to understand their needs.
What exactly do you bring to startups?
I bring my curiosity and end user insight to the table. Whether a startup is trying to develop a new product or launch their product into the market, it is critical that they have a deep understanding of what their end users want and expect from the product in order to succeed. I can help startups bring value to their end users.
What type of startup would benefit from your strengths?
Startups in their early stages that are still trying to define who they are and what value they offer. It is critical that startups have a clearly defined identity of themselves from the start in order for their end users to believe in them.
What was the most challenging aspect of starting up a business?
The planning process is probably the most challenging aspect because often times it is overlooked. Startups that spend time in the planning process thinking through their business model will tend to have fewer problems or will be better able to handle them when they arise.
What advice do you have for entrepreneurs?
Don’t wait for the perfect time to start something because there will never be one.
What Austin-based resource have you found to be the most helpful and why?
TiE Austin has been instrumental in connecting me with many accomplished entrepreneurs in town, who in turn have been able to provide me with sound advice, as well as inspiration, for my endeavors. Through TiE Austin, I am now involved in launching their new initiative, TiE Young Entrepreneurs (TYE), which enables me to give back to the organization and help students who are interested in the entrepreneurial field.
Monday, November 9, 2009
The Importance of Innovation in Achieving Success
This guest article was written by Adrienne Carlson, who regularly writes on the topic of online executive mba programs. Adrienne welcomes your comments and questions at her email address: adrienne.carlson1@gmail.com. Her website is here.
Every entrepreneur dreams of stupendous success; they want not just the money, but also the fame. And success comes not just with luck alone, but with a combination of dedication, hard work, commitment, and of course, innovation. In fact, the ability to innovate determines how long a company is able to sustain its dominance in the industry, because without innovation, any business is bound to stagnate and eventually die out. In what can only be seen as an ironic twist, change is the only thing that is constant in life, so any business must be willing to change according to the environment it operates in.
Innovation can be defined in different terms, each of which is a little different from the other and all of which contribute to the long term success of any business. In short, innovation must be a combination of the below aspects:
• Adaptation: Ideas are a dime a dozen, so anyone can come up with them. But the ones that do succeed are far and few between. For every success story, there are a thousand failures that take place silently. And what differentiates the successes from the failures is the ability to adapt. Today, there is more emphasis on personal health and going green. So if a product or service is adapted or changed to become or eve be perceived healthier or friendlier to the environment, it is bound to taste success.
• Flexibility: Products and services that are a success are often a far cry from what they were on the design board. This is because they have undergone numerous changes according to consumer demand and market research. They are flexible enough to be changed according to the changing trends. And this is why they succeed where thousands of others fail.
• Resourcefulness: Entrepreneurs who cash in on opportunities are innovative as well; the opportunity may be short lived and temporary, but they’re able to strike when the iron is hot because they have sensed it ahead of the competition. They have their pulse on the market and know when it is the right time to make a move.
Innovation is the lifeblood of any business, more so in times when the economy is down and it’s harder to make profits or even break even. So when companies fail to improvise and innovate accordingly, they find themselves slowly falling behind the competition, and finally being pushed out of the race altogether.
Monday, November 2, 2009
UT's Idea 2 Product Competition Highlights Fifteen New Startups
One of my favorite entrepreneur events of the year is the Idea 2 Product Competition held at UT. The I2P® Global Competition is an early-stage technology commercialization plan competition hosted by the Murchison Chair of Free Enterprise at The University of Texas at Austin. The I2P® competition focuses on the education and creation of the next generation of technology entrepreneurs. Teams benefit from valuable feedback from the entrepreneurs, venture capitalists, engineers, and intellectual property attorneys on the judging panels. Previous teams have produced work that has increased research funding, licensing of technology, and creation of new ventures. The competition has also served as a commercialization forum for faculty and members of the community. Faculty have been able to consider societal needs of technology and members of the community have been given an early preview of cutting-edge technology.
Fifteen invited university teams, representing four continents and eight countries, will descend upon Austin on October 30-31st for the 7th Annual Idea to Product Global Competition. The teams will present their breakthrough technology commercialization plans and compete for over $52,500 in cash prizes that may be used to advance their innovations, as well as a chance to enter the Global MOOTCORP® competition. Each year, the competition draws a large audience from Austin’s technology and entrepreneurial community. The event is in the AT&T Conference Center.
The competition will debut three themed championship tracks and a technology showcase where you can see the teams’ innovative technologies. Which technologies will become the next cure for cancer? Which technologies have a potential to revolutionize the battery technology? What technology will answer the world’s changing energy demands? What technology will drastically improve quality of life for less-privileged communities around the world?
The event is free and open to public.
What? 7th Annual Idea to Product® Global Competition
Where? AT&T Executive Education and Conference Center
When? Friday, October 30th
9:00am-12:00pm Feedback Rounds (Classrooms 201, 202, 203)
Saturday, October 31st
9:00am-12:00pm Ted Roden Championship Rounds (201, 202, 203)
1:15pm-2:30pm Technology Showcase (Covered Courtyard)
2:30pm-3:00pm Ted Roden Awards Ceremony (Amphitheater 204)
Why? To see the next generation of technology innovations
Who? Free and open to public.
The Idea to Product® Global Competition is sponsored by the Cockrell School of Engineering, the College of Natural Sciences, several engineering departments, along with student organizations. Supporters of the event include the National Science Foundation, NCIIA, MOOT CORP, the Austin Technology Incubator, the Office of Technology Commercialization, Fish & Richardson, P.C., and the Herb Kelleher Center for Entrepreneurship.
Fifteen invited university teams, representing four continents and eight countries, will descend upon Austin on October 30-31st for the 7th Annual Idea to Product Global Competition. The teams will present their breakthrough technology commercialization plans and compete for over $52,500 in cash prizes that may be used to advance their innovations, as well as a chance to enter the Global MOOTCORP® competition. Each year, the competition draws a large audience from Austin’s technology and entrepreneurial community. The event is in the AT&T Conference Center.
The competition will debut three themed championship tracks and a technology showcase where you can see the teams’ innovative technologies. Which technologies will become the next cure for cancer? Which technologies have a potential to revolutionize the battery technology? What technology will answer the world’s changing energy demands? What technology will drastically improve quality of life for less-privileged communities around the world?
The event is free and open to public.
What? 7th Annual Idea to Product® Global Competition
Where? AT&T Executive Education and Conference Center
When? Friday, October 30th
9:00am-12:00pm Feedback Rounds (Classrooms 201, 202, 203)
Saturday, October 31st
9:00am-12:00pm Ted Roden Championship Rounds (201, 202, 203)
1:15pm-2:30pm Technology Showcase (Covered Courtyard)
2:30pm-3:00pm Ted Roden Awards Ceremony (Amphitheater 204)
Why? To see the next generation of technology innovations
Who? Free and open to public.
The Idea to Product® Global Competition is sponsored by the Cockrell School of Engineering, the College of Natural Sciences, several engineering departments, along with student organizations. Supporters of the event include the National Science Foundation, NCIIA, MOOT CORP, the Austin Technology Incubator, the Office of Technology Commercialization, Fish & Richardson, P.C., and the Herb Kelleher Center for Entrepreneurship.
Monday, October 26, 2009
Kevin Castello of the Baylor Angel Network Talks about Starting an Angel Group
Where are you from originally?
I have lived in Texas most of my life and in the Austin area since 1984.
What university did you go to?
My bachelor’s is from Austin Graduate School of Theology and I complete my MBA at Baylor in December.
What brought you to Austin?
I moved here with my parents in high school.
What is the idea behind your group?
Baylor Angel Network (BAN) is a university sponsored organization that provides the vehicle for Baylor Angels to be exposed to deal flow opportunities. BAN provides a synergistic link between successful alumni and current students who serve as interns. The internship program allows students to see business plans, screening processes, entrepreneurial presentations, due diligence, and fundings. In addition to the education value, each BAN member contributes a portion of their returns to the Hankamer School of Business.
What need does it fulfill?
BAN provides a mentoring relationship for students with successful alumni in the private equity investment arena. It also provides a process vehicle for a number of angels to evaluate projects together and then make individual investing decisions. This aggregation of experience and differing industry expertise allows the angels to better vet each opportunity and evaluate potential risk. BAN also provides a great potential funding source for entrepreneurs in an entrepreneur friendly setting.
What exactly does BAN do?
BAN connects entrepreneurs with angels while mentoring students.
Who is it for?
BAN serves the angels, entrepreneurs, students, and Baylor University Hankamer School of Business.
What was the most challenging aspect of starting up a group?
Understanding the paradox between simple and complex is the greatest challenge. The idea, business plan, and strategy need to be easy to understand while the information necessary to communicate, value, and fund the opportunity can be quite complex.
What is the next step for you and your group?
BAN is currently doing due diligence on two deals for potential funding this fall. We are also beginning the early review stages for deals that will be looked at in the spring of 2010.
What advice do you have for entrepreneurs?
BAN is an entrepreneurial friendly environment in which to get your plan reviewed. If you have a great plan then contact us to start the process.
What Austin-based resource have you found to be the most helpful and why?
We have a great working relationship with the Central Texas Angel Network (CTAN) and are currently working on a syndication deal with them.
Best regards,
Hall T.
I have lived in Texas most of my life and in the Austin area since 1984.
What university did you go to?
My bachelor’s is from Austin Graduate School of Theology and I complete my MBA at Baylor in December.
What brought you to Austin?
I moved here with my parents in high school.
What is the idea behind your group?
Baylor Angel Network (BAN) is a university sponsored organization that provides the vehicle for Baylor Angels to be exposed to deal flow opportunities. BAN provides a synergistic link between successful alumni and current students who serve as interns. The internship program allows students to see business plans, screening processes, entrepreneurial presentations, due diligence, and fundings. In addition to the education value, each BAN member contributes a portion of their returns to the Hankamer School of Business.
What need does it fulfill?
BAN provides a mentoring relationship for students with successful alumni in the private equity investment arena. It also provides a process vehicle for a number of angels to evaluate projects together and then make individual investing decisions. This aggregation of experience and differing industry expertise allows the angels to better vet each opportunity and evaluate potential risk. BAN also provides a great potential funding source for entrepreneurs in an entrepreneur friendly setting.
What exactly does BAN do?
BAN connects entrepreneurs with angels while mentoring students.
Who is it for?
BAN serves the angels, entrepreneurs, students, and Baylor University Hankamer School of Business.
What was the most challenging aspect of starting up a group?
Understanding the paradox between simple and complex is the greatest challenge. The idea, business plan, and strategy need to be easy to understand while the information necessary to communicate, value, and fund the opportunity can be quite complex.
What is the next step for you and your group?
BAN is currently doing due diligence on two deals for potential funding this fall. We are also beginning the early review stages for deals that will be looked at in the spring of 2010.
What advice do you have for entrepreneurs?
BAN is an entrepreneurial friendly environment in which to get your plan reviewed. If you have a great plan then contact us to start the process.
What Austin-based resource have you found to be the most helpful and why?
We have a great working relationship with the Central Texas Angel Network (CTAN) and are currently working on a syndication deal with them.
Best regards,
Hall T.
Monday, October 19, 2009
Dave Bartelli Talks about Central Texas IT Play Day
Tell me a little about the event you're hosting.
The event is called the "Central Texas IT Play Day." It is a fun, Texas-themed technology trade show for the business community to learn about current technology trends and solutions directly from the big vendors, such as Cisco, Citrix, VMware and HP. We'll have free Texas BBQ and live music from Austin artist Matt the Musician.
When and where is it?
The show is Thursday, October 15th at the Phillips Event Center in northeast Austin. People can drop by any time from 10am to 3pm. The agenda, map and other details are online at www.texasitplayday.com
Who is the target audience?
The event is designed for business people who make technology decisions - business owners, managers, and IT directors. Although exhibitors will have hands-on demos of their solutions, the event is not meant to be a technical training event. Instead, it is meant to help businesses understand some of the trends and solutions that might make their lives easier.
Why would a business owner want to attend a technology trade show?
With technology changing so fast, it is hard to keep up with what is truly useful, let alone what it all means. People hear about virtualization, cloud computing and managed services all the time, but not everyone knows what they are or in which scenarios they are best used. This event provides an opportunity to become more familiar with current technology options, which will help in making business plans and decisions.
What does the event cost?
The event is free, although pre-registration is required. Registration and details are at www.texasitplayday.com
Who will be exhibiting?
HP, Citrix, VMware, Cisco, Grande Communications, Zultys, TW Telecom, TBC International, Bandspeed, Fortinet, Cymphonix, Buffalo Technology, Microsoft and White Glove Technologies.
You'll have the chance to see Windows 7, the latest Microsoft operating system, live before it is officially released to stores on October 22nd.
The event is called the "Central Texas IT Play Day." It is a fun, Texas-themed technology trade show for the business community to learn about current technology trends and solutions directly from the big vendors, such as Cisco, Citrix, VMware and HP. We'll have free Texas BBQ and live music from Austin artist Matt the Musician.
When and where is it?
The show is Thursday, October 15th at the Phillips Event Center in northeast Austin. People can drop by any time from 10am to 3pm. The agenda, map and other details are online at www.texasitplayday.com
Who is the target audience?
The event is designed for business people who make technology decisions - business owners, managers, and IT directors. Although exhibitors will have hands-on demos of their solutions, the event is not meant to be a technical training event. Instead, it is meant to help businesses understand some of the trends and solutions that might make their lives easier.
Why would a business owner want to attend a technology trade show?
With technology changing so fast, it is hard to keep up with what is truly useful, let alone what it all means. People hear about virtualization, cloud computing and managed services all the time, but not everyone knows what they are or in which scenarios they are best used. This event provides an opportunity to become more familiar with current technology options, which will help in making business plans and decisions.
What does the event cost?
The event is free, although pre-registration is required. Registration and details are at www.texasitplayday.com
Who will be exhibiting?
HP, Citrix, VMware, Cisco, Grande Communications, Zultys, TW Telecom, TBC International, Bandspeed, Fortinet, Cymphonix, Buffalo Technology, Microsoft and White Glove Technologies.
You'll have the chance to see Windows 7, the latest Microsoft operating system, live before it is officially released to stores on October 22nd.
Monday, October 12, 2009
UT's Idea 2 Product Compeititon
Fifteen invited university teams, representing four continents and eight countries, will descend upon Austin on October 30-31st for the 7th Annual Idea to Product Global Competition. The teams will present their breakthrough technology commercialization plans and compete for over $52,500 in cash prizes that may be used to advance their innovations, as well as a chance to enter the Global MOOTCORP® competition. Each year, the competition draws a large audience from Austin’s technology and entrepreneurial community. The even is in the AT&T Conference Center.
The competition will debut three themed championship tracks and a technology showcase where you can see the teams’ innovative technologies. Which technologies will become the next cure for cancer? Which technologies have a potential to revolutionize the battery technology? What technology will answer the world’s changing energy demands? What technology will drastically improve quality of life for less-privileged communities around the world?
Come to I2P® Global and see. The event is free and open to public.
What? 7th Annual Idea to Product® Global Competition
Where? AT&T Executive Education and Conference Center
When? Friday, October 30th
9:00am-12:00pm Feedback Rounds (Classrooms 201, 202, 203)
Saturday, October 31st
9:00am-12:00pm Ted Roden Championship Rounds (201, 202, 203)
1:15pm-2:30pm Technology Showcase (Covered Courtyard)
2:30pm-3:00pm Ted Roden Awards Ceremony (Amphitheater 204)
Why? To see the next generation of technology innovations
Who? Free and open to public.
About the Idea to Product® Competition
The I2P® Global Competition is an early-stage technology commercialization plan competition hosted by the Murchison Chair of Free Enterprise at The University of Texas at Austin. The I2P® competition focuses on the education and creation of the next generation of technology entrepreneurs. Teams benefit from valuable feedback from the entrepreneurs, venture capitalists, engineers, and intellectual property attorneys on the judging panels. Previous teams have produced work that has increased research funding, licensing of technology, and creation of new ventures. The competition has also served as a commercialization forum for faculty and members of the community. Faculty have been able to consider societal needs of technology and members of the community have been given an early preview of cutting-edge technology.
The Idea to Product® Global Competition is sponsored by the Cockrell School of Engineering, the College of Natural Sciences, several engineering departments, along with student organizations. Supporters of the event include the National Science Foundation, NCIIA, MOOT CORP, the Austin Technology Incubator, the Office of Technology Commercialization, Fish & Richardson, P.C., and the Herb Kelleher Center for Entrepreneurship.
For more information about the I2P® Global Competition, the I2P® Program, and to see a live webcast of the competition, visit http://www.ideatoproduct.org/.
The competition will debut three themed championship tracks and a technology showcase where you can see the teams’ innovative technologies. Which technologies will become the next cure for cancer? Which technologies have a potential to revolutionize the battery technology? What technology will answer the world’s changing energy demands? What technology will drastically improve quality of life for less-privileged communities around the world?
Come to I2P® Global and see. The event is free and open to public.
What? 7th Annual Idea to Product® Global Competition
Where? AT&T Executive Education and Conference Center
When? Friday, October 30th
9:00am-12:00pm Feedback Rounds (Classrooms 201, 202, 203)
Saturday, October 31st
9:00am-12:00pm Ted Roden Championship Rounds (201, 202, 203)
1:15pm-2:30pm Technology Showcase (Covered Courtyard)
2:30pm-3:00pm Ted Roden Awards Ceremony (Amphitheater 204)
Why? To see the next generation of technology innovations
Who? Free and open to public.
About the Idea to Product® Competition
The I2P® Global Competition is an early-stage technology commercialization plan competition hosted by the Murchison Chair of Free Enterprise at The University of Texas at Austin. The I2P® competition focuses on the education and creation of the next generation of technology entrepreneurs. Teams benefit from valuable feedback from the entrepreneurs, venture capitalists, engineers, and intellectual property attorneys on the judging panels. Previous teams have produced work that has increased research funding, licensing of technology, and creation of new ventures. The competition has also served as a commercialization forum for faculty and members of the community. Faculty have been able to consider societal needs of technology and members of the community have been given an early preview of cutting-edge technology.
The Idea to Product® Global Competition is sponsored by the Cockrell School of Engineering, the College of Natural Sciences, several engineering departments, along with student organizations. Supporters of the event include the National Science Foundation, NCIIA, MOOT CORP, the Austin Technology Incubator, the Office of Technology Commercialization, Fish & Richardson, P.C., and the Herb Kelleher Center for Entrepreneurship.
For more information about the I2P® Global Competition, the I2P® Program, and to see a live webcast of the competition, visit http://www.ideatoproduct.org/.
Tuesday, October 6, 2009
Wendy Covey of Trew Marketing Talks About Her Startup
Wendy Covey of Trew Marketing Talks About Her Startup
Where are you from originally?
I am a native Texan, and have lived in many of the major cities in Texas. This illustrious list includes Houston, Dallas, Austin, College Station, and Dripping Springs. Ok, so a few are not in the majors quite yet.
What university did you go to?
Texas A&M University
What brought you to Austin?
Austin’s casual environment, natural beauty, and smaller-town feel were my initial attraction, not to mention good tex-mex. I was excited about the growing opportunities in the technology and entrepreneurial sector and where that might lead my career growth.
What is your passion and strength?
I have a deep appreciation for engineers and scientists and the creative innovations they develop that not only impact our lives but drive much of our economy. . My passion is to help them spread the word about their products and services in a clear and simple way.
What need does it fulfill?
My energy, resourcefulness, strong communication skills, and deep tech marketing experience make me a strong partner to the technical business executive or technical sales manager who often has completely different strengths. With a long history in event marketing – from traditional trade shows and conferences to webcasts– as well as a background in software services business leadership, I am able to work with them on a wide variety of critical marketing areas.
What exactly do you bring to startups?
I am co-founder of TREW Marketing. With our team of professionals, we offer comprehensive marketing services. For start-ups, we are often engaged as a Virtual Marketing Manager or for a specific need, such as message development, creative, website development, or media relations.
What type of startup would benefit from your strengths?
B2B technology companies, particularly those targeting technical audiences such as engineers and scientists, are the best fit for TREW Marketing. We also do much work in education.
What was the most challenging aspect of starting up a business?
My top two:
1. Determining a scalable pricing model
2. Figuring how to staff the business through the peaks and valleys of growth
What advice do you have for entrepreneurs?
Interview ten business owners. This was the best thing we did during our ideation phase. Some were in the same industry, and some were totally different, but all of the interviews helped us to gain clarity in how we wanted to operate, and avoid some of the trouble spots that others have gone through before us.
What Austin-based resource have you found to be the most helpful and why?
Leadership Austin – Through my business partner’s participation and board position, we’ve greatly expanded our network of diverse leaders in Austin.
AEN – This organization provides us with a broad view of the entrepreneurial community, including organizations and events. I enjoy expanding my horizons through the crazy blog posts too.
BIG Austin – Being a minority-owned business, we were able to use the resources of this nonprofit for our initial basic business questions. The staff was friendly, patient, and we saved ourselves the additional costs on attorney fees, which is always nice on a start-up budget.
RISE Austin – This incredibly helpful conference featured a broad range of interesting topics for entrepreneurs with quality, knowledgeable speakers. The event was an impressive feat for a free event, no doubt. I am very much looking forward to the next one.
--
Please note: Wendy Covey will be giving a Shortcourse. Please check out the schedule here.
Best regards,
Hall T.
Where are you from originally?
I am a native Texan, and have lived in many of the major cities in Texas. This illustrious list includes Houston, Dallas, Austin, College Station, and Dripping Springs. Ok, so a few are not in the majors quite yet.
What university did you go to?
Texas A&M University
What brought you to Austin?
Austin’s casual environment, natural beauty, and smaller-town feel were my initial attraction, not to mention good tex-mex. I was excited about the growing opportunities in the technology and entrepreneurial sector and where that might lead my career growth.
What is your passion and strength?
I have a deep appreciation for engineers and scientists and the creative innovations they develop that not only impact our lives but drive much of our economy. . My passion is to help them spread the word about their products and services in a clear and simple way.
What need does it fulfill?
My energy, resourcefulness, strong communication skills, and deep tech marketing experience make me a strong partner to the technical business executive or technical sales manager who often has completely different strengths. With a long history in event marketing – from traditional trade shows and conferences to webcasts– as well as a background in software services business leadership, I am able to work with them on a wide variety of critical marketing areas.
What exactly do you bring to startups?
I am co-founder of TREW Marketing. With our team of professionals, we offer comprehensive marketing services. For start-ups, we are often engaged as a Virtual Marketing Manager or for a specific need, such as message development, creative, website development, or media relations.
What type of startup would benefit from your strengths?
B2B technology companies, particularly those targeting technical audiences such as engineers and scientists, are the best fit for TREW Marketing. We also do much work in education.
What was the most challenging aspect of starting up a business?
My top two:
1. Determining a scalable pricing model
2. Figuring how to staff the business through the peaks and valleys of growth
What advice do you have for entrepreneurs?
Interview ten business owners. This was the best thing we did during our ideation phase. Some were in the same industry, and some were totally different, but all of the interviews helped us to gain clarity in how we wanted to operate, and avoid some of the trouble spots that others have gone through before us.
What Austin-based resource have you found to be the most helpful and why?
Leadership Austin – Through my business partner’s participation and board position, we’ve greatly expanded our network of diverse leaders in Austin.
AEN – This organization provides us with a broad view of the entrepreneurial community, including organizations and events. I enjoy expanding my horizons through the crazy blog posts too.
BIG Austin – Being a minority-owned business, we were able to use the resources of this nonprofit for our initial basic business questions. The staff was friendly, patient, and we saved ourselves the additional costs on attorney fees, which is always nice on a start-up budget.
RISE Austin – This incredibly helpful conference featured a broad range of interesting topics for entrepreneurs with quality, knowledgeable speakers. The event was an impressive feat for a free event, no doubt. I am very much looking forward to the next one.
--
Please note: Wendy Covey will be giving a Shortcourse. Please check out the schedule here.
Best regards,
Hall T.
Monday, September 28, 2009
Clare Nelson of Quaresso Talks about Her Startup Experience
Clare Nelson of Quaresso Talks about Her Startup Experience
Where are you from originally?
I was born in Palo Alto, but have lived all over the US and Europe. Grew up learning how to surf, went to high school in New Jersey.
What university did you go to?
The school of hard knocks, I can pick up technology quickly, but learn life lessons slowly.
I got my undergrad degree in Math at Tufts University, and then did MBA studies at California State Lutheran University in Santa Barbara, and Regis University in Colorado.
However, I got my best education growing up with two brothers.
What brought you to Austin?
14 years ago, my husband was recruited by IBM/Tivoli. The first week, I saw a scorpion in the living room and was read to move. I never thought I’d end up falling in love with Austin.
What is your passion and strength?
Business development of any flavor. Quick time to revenue for a startup or large corporation – opening new markets, creating a pipeline, securing OEM deals, product positioning and competitive analysis.
What need does it fulfill?
It fulfills the need to accelerate time to revenue, which is a balance between targeting anyone who will listen, and targeting the optimal subset of customers. For startups, many early customers are not optimal because they:
- Want product modifications or support on another platform, and you are not ready for this, and do not even have the budget or headcount to support it
- Are too small, or not worth the effort to get up and running – it may be the case it takes just as long to get a large customer up and running
- Won’t serve as a stellar reference account, let alone agree to a press release
- Are outside your market validation set of target market early adopters, their pain is not substantial and pressing
- Don’t have support from the CEO on down to user your product, test it and adopt it
- Have insufficient cash flow, and may not be able to pay you on time, if at all
- Do not have the right people assigned to test drive your product and provide valuable feedback
- Are difficult to work with
What exactly do you bring to startups?
30+ years of WW experience in high tech – I’ve made enough mistakes to recognize them elsewhere.
I’ve worked as an employee at four different startups: ACC, CMC, Dazel and SAP spinoff, TeaLeaf Technology, as well as large companies: DEC, EMC, Dell. I know how startups work, and what large corporations demand for product requirements. I spent the first 8 years of my career in the pits with the bits as a software engineer, then progressed through product management and various executive positions. I bridge technology and the market.
I’ve mentored or consulted for social network aggregators, security, storage and software companies.
What type of startup would benefit from your strengths?
High tech, with a software or Web 2.0 dimension. Also biotech, I consulted for Cell Marque, a manufacturer of reagents for immunohistochemistry, specifically cancer detection.
What was the most challenging aspect of starting up a business?
Eight years ago, I started ClearMark Consulting. The isolation and having to do everything myself was daunting in the beginning. One day I did everything from fish through a user manual to figure out a fax machine error code, to close a large deal with a Fortune 1000 client. Here are some things I would not repeat:
+ Underestimated the expense and struggle to stay cash-flow positive, underestimated the expense of simple things like accessing Gartner or IDC reports. Learned very quickly to get my large clients to give me access.
+ Spent way too much time on a Web site, did not use it, and still to this day get referrals from colleagues and word of mouth. All I really need is LinkedIn and my iPhone.
+ Spent too much time on early PowerPoint decks, I am a Tufte (the communications expert, not to be confused with my alma mater, Tufts) fan, I hope to do away with PowerPoint in the future
+ Underestimated the degree of flexibility for negotiating compensation. I have been paid in laptops, equity, deferred cash, etc. Each deal had a different structure.
+ Underestimated the power of outsourcing, even though it is just me, hiring some temps or using outsourcing services made life much easier.
+ Underestimated the value of telling a client exactly what I thought. Turns out this is often what secures repeat business. To this day, clients from the past call me to ask for my un-varnished, frank opinion.
What advice do you have for entrepreneurs?
+ Verify market demand, find the pain, identify the problem you are solving. The old “build it and they will come” model only works in Hollywood.
+ Spend more time with customers than your colleagues.
What Austin-based resource have you found to be the most helpful and why?
+ Yoga studios – it’s how I keep sane and healthy
+ Previous colleagues and friends. They have the battle scars and know what can go wrong, and how to avoid it. They have vision and enthusiasm, we share a passion for all things high tech.
Best regards,
Hall T.
Where are you from originally?
I was born in Palo Alto, but have lived all over the US and Europe. Grew up learning how to surf, went to high school in New Jersey.
What university did you go to?
The school of hard knocks, I can pick up technology quickly, but learn life lessons slowly.
I got my undergrad degree in Math at Tufts University, and then did MBA studies at California State Lutheran University in Santa Barbara, and Regis University in Colorado.
However, I got my best education growing up with two brothers.
What brought you to Austin?
14 years ago, my husband was recruited by IBM/Tivoli. The first week, I saw a scorpion in the living room and was read to move. I never thought I’d end up falling in love with Austin.
What is your passion and strength?
Business development of any flavor. Quick time to revenue for a startup or large corporation – opening new markets, creating a pipeline, securing OEM deals, product positioning and competitive analysis.
What need does it fulfill?
It fulfills the need to accelerate time to revenue, which is a balance between targeting anyone who will listen, and targeting the optimal subset of customers. For startups, many early customers are not optimal because they:
- Want product modifications or support on another platform, and you are not ready for this, and do not even have the budget or headcount to support it
- Are too small, or not worth the effort to get up and running – it may be the case it takes just as long to get a large customer up and running
- Won’t serve as a stellar reference account, let alone agree to a press release
- Are outside your market validation set of target market early adopters, their pain is not substantial and pressing
- Don’t have support from the CEO on down to user your product, test it and adopt it
- Have insufficient cash flow, and may not be able to pay you on time, if at all
- Do not have the right people assigned to test drive your product and provide valuable feedback
- Are difficult to work with
What exactly do you bring to startups?
30+ years of WW experience in high tech – I’ve made enough mistakes to recognize them elsewhere.
I’ve worked as an employee at four different startups: ACC, CMC, Dazel and SAP spinoff, TeaLeaf Technology, as well as large companies: DEC, EMC, Dell. I know how startups work, and what large corporations demand for product requirements. I spent the first 8 years of my career in the pits with the bits as a software engineer, then progressed through product management and various executive positions. I bridge technology and the market.
I’ve mentored or consulted for social network aggregators, security, storage and software companies.
What type of startup would benefit from your strengths?
High tech, with a software or Web 2.0 dimension. Also biotech, I consulted for Cell Marque, a manufacturer of reagents for immunohistochemistry, specifically cancer detection.
What was the most challenging aspect of starting up a business?
Eight years ago, I started ClearMark Consulting. The isolation and having to do everything myself was daunting in the beginning. One day I did everything from fish through a user manual to figure out a fax machine error code, to close a large deal with a Fortune 1000 client. Here are some things I would not repeat:
+ Underestimated the expense and struggle to stay cash-flow positive, underestimated the expense of simple things like accessing Gartner or IDC reports. Learned very quickly to get my large clients to give me access.
+ Spent way too much time on a Web site, did not use it, and still to this day get referrals from colleagues and word of mouth. All I really need is LinkedIn and my iPhone.
+ Spent too much time on early PowerPoint decks, I am a Tufte (the communications expert, not to be confused with my alma mater, Tufts) fan, I hope to do away with PowerPoint in the future
+ Underestimated the degree of flexibility for negotiating compensation. I have been paid in laptops, equity, deferred cash, etc. Each deal had a different structure.
+ Underestimated the power of outsourcing, even though it is just me, hiring some temps or using outsourcing services made life much easier.
+ Underestimated the value of telling a client exactly what I thought. Turns out this is often what secures repeat business. To this day, clients from the past call me to ask for my un-varnished, frank opinion.
What advice do you have for entrepreneurs?
+ Verify market demand, find the pain, identify the problem you are solving. The old “build it and they will come” model only works in Hollywood.
+ Spend more time with customers than your colleagues.
What Austin-based resource have you found to be the most helpful and why?
+ Yoga studios – it’s how I keep sane and healthy
+ Previous colleagues and friends. They have the battle scars and know what can go wrong, and how to avoid it. They have vision and enthusiasm, we share a passion for all things high tech.
Best regards,
Hall T.
Monday, September 21, 2009
Imagine H2O Seeking Innovative Business Plans
Imagine H2O is a non-profit organization that aims to support and advance water technologies. Its inaugural business plan competition focuses on water efficiency and is awarding $70k in cash and in-kind services. It starts on Wednesday, Sept. 1 and ends on Nov. 16. The direct link to the competition is here: http://www.imagineh2o.org.
WANTED: INNOVATIVE SOLUTIONS TO WORLD’S WATER CRISIS
REWARD: $70,000
Business plan challenge opens September 1, 2009
The inaugural Imagine H2O Prize competition is now open for submissions. The competition offers prizes of $70,000 in cash and in-kind services, which will be awarded to the business plans which promise the greatest breakthroughs in the efficient use and supply of water.
The Imagine H2O Prize is designed to encourage the competitive and ambitious spirits of entrepreneurs, investors, experts, inventors and academics around the world to focus on water issues. This inaugural business plan challenge focuses on solutions to improve water efficiency in agriculture, commercial, industrial or residential applications, such as water demand reduction, improved water use, water recycling and/or reuse.
Entries will be accepted from around the world beginning September 1 through November 16, 2009. Winners will be announced at a showcase event in early 2010. Future competitions will have different prize topics addressing other critical water challenges. For more details and to participate, go to: www.imagineh2o.org.
Best regards,
Hall T.
WANTED: INNOVATIVE SOLUTIONS TO WORLD’S WATER CRISIS
REWARD: $70,000
Business plan challenge opens September 1, 2009
The inaugural Imagine H2O Prize competition is now open for submissions. The competition offers prizes of $70,000 in cash and in-kind services, which will be awarded to the business plans which promise the greatest breakthroughs in the efficient use and supply of water.
The Imagine H2O Prize is designed to encourage the competitive and ambitious spirits of entrepreneurs, investors, experts, inventors and academics around the world to focus on water issues. This inaugural business plan challenge focuses on solutions to improve water efficiency in agriculture, commercial, industrial or residential applications, such as water demand reduction, improved water use, water recycling and/or reuse.
Entries will be accepted from around the world beginning September 1 through November 16, 2009. Winners will be announced at a showcase event in early 2010. Future competitions will have different prize topics addressing other critical water challenges. For more details and to participate, go to: www.imagineh2o.org.
Best regards,
Hall T.
Wednesday, September 16, 2009
John McElhenney Talks about Social Media
John McElhenney Talks about Social Media and his Web Site Fluent Search
Where are you from originally?
Austin, Texas - "native"
What university did you go to?
UT
What brought you to Austin?
Mom and Dad.
What is your passion and strength?
I enjoy rallying teams and seeing new ideas built to completion. New technologies and social media sites have to enhance our abilities to do our jobs rather than waste time. Figuring out how to engage and not get lost is a plan I am constantly building and refining.
What need does it fulfill?
Establishing a social media plan for business development and growth. Using ideas learned within big companies can help smaller companies level the playing field. It's all about responding to the needs of your customers.
What exactly do you bring to startups?
With a passion to communicate and a deep understanding of technology and social media networks, I work with companies wanting to set up and work the web for customer engagement and lead generation.
What was the most challenging aspect of starting up a business?
Continuing to focus on what drives revenue. It is easy to get distracted by all of the opportunities to get involved, but staying focused on your long term objectives is critical to not being sidetracked by all the shiny objects that can be labeled social media.
What advice do you have for entrepreneurs?
Going out into social media with no plan CAN hurt your business. The goal of any social media system is to be responsive and flexible in communicating with customers, potential customers, media and vendors.
What Austin-based resource have you found to be the most helpful and why?
The SXSW community has proven to be a strong and durable resource for me. Participating and speaking at SXSW brought a group of people into my life that have continued to inspire and encourage me.
Please Note: If you would like to see John McElhenney's presentation on social media topics please go to AEN Courses.
Where are you from originally?
Austin, Texas - "native"
What university did you go to?
UT
What brought you to Austin?
Mom and Dad.
What is your passion and strength?
I enjoy rallying teams and seeing new ideas built to completion. New technologies and social media sites have to enhance our abilities to do our jobs rather than waste time. Figuring out how to engage and not get lost is a plan I am constantly building and refining.
What need does it fulfill?
Establishing a social media plan for business development and growth. Using ideas learned within big companies can help smaller companies level the playing field. It's all about responding to the needs of your customers.
What exactly do you bring to startups?
With a passion to communicate and a deep understanding of technology and social media networks, I work with companies wanting to set up and work the web for customer engagement and lead generation.
What was the most challenging aspect of starting up a business?
Continuing to focus on what drives revenue. It is easy to get distracted by all of the opportunities to get involved, but staying focused on your long term objectives is critical to not being sidetracked by all the shiny objects that can be labeled social media.
What advice do you have for entrepreneurs?
Going out into social media with no plan CAN hurt your business. The goal of any social media system is to be responsive and flexible in communicating with customers, potential customers, media and vendors.
What Austin-based resource have you found to be the most helpful and why?
The SXSW community has proven to be a strong and durable resource for me. Participating and speaking at SXSW brought a group of people into my life that have continued to inspire and encourage me.
Please Note: If you would like to see John McElhenney's presentation on social media topics please go to AEN Courses.
Monday, August 31, 2009
Gerry Cullen of PR Engines Talks about His Startup
Gerry Cullen of PR Engines Talks about His Startup
Where are you from originally? Buffalo, New York
What university did you go to?
Colorado State University, BS Physics and Math, and University of Colorado, Electrical Engineering
What brought you to Austin?
I joined an Austin-based commercial lighting control manufacturer, MyTech, which was losing money and had a tired product line. After three years we had redesigned the product line, tripled revenue and achieved profitability. We sold the company to Hubbell Electric. I decided I liked Austin enough to stay here.
What is the idea behind your startup?
Many companies generate sales from search engine results. Our goal was to make an inexpensive, easy to implement software product that demonstrably improved page rank on search engines.
What need does it fulfill?
Users get two benefits: a higher search engine ranking, and a more interesting website. Tests have shown that the typical page ranking in Google improves by at least twelve which means a full page improvement in search engine placement.
What exactly does your product do?
The NewsBox makes a scrolling box of news story titles appear on a web page. The news stories are all keyword related to the customer's business. The news stories are hand-picked by company-knowledgeable editors. This creates changing content which is one of the four main ways to attract search engines.
Who is it for?
Primarily for companies who attract customers through web searches.
What was the most challenging aspect of starting up a business?
Making sure the product could be sold before investing in software development. We learned a lot about competition while making test sales calls. We made a dozen sales calls before developing any software.
What is the next step for you and your startup?
We are now in the process of making 100+ sales calls to make sure we can sell the product as it exists today, that is, without further software enhancements. Our first market will be small law practices.
What advice do you have for entrepreneurs?
Make sure you can sell the product before making the product. Get prospects to promise to buy one at a deeply reduced price before ever starting work. Most folks will tell you that your idea is wonderful but few will actually write a speculative purchase order.
What Austin-based resource have you found to be the most helpful and why? I have not used any resource so far. The Austin Entrepreneur Network looks like a great asset.
Best regards,
Hall T.
Where are you from originally? Buffalo, New York
What university did you go to?
Colorado State University, BS Physics and Math, and University of Colorado, Electrical Engineering
What brought you to Austin?
I joined an Austin-based commercial lighting control manufacturer, MyTech, which was losing money and had a tired product line. After three years we had redesigned the product line, tripled revenue and achieved profitability. We sold the company to Hubbell Electric. I decided I liked Austin enough to stay here.
What is the idea behind your startup?
Many companies generate sales from search engine results. Our goal was to make an inexpensive, easy to implement software product that demonstrably improved page rank on search engines.
What need does it fulfill?
Users get two benefits: a higher search engine ranking, and a more interesting website. Tests have shown that the typical page ranking in Google improves by at least twelve which means a full page improvement in search engine placement.
What exactly does your product do?
The NewsBox makes a scrolling box of news story titles appear on a web page. The news stories are all keyword related to the customer's business. The news stories are hand-picked by company-knowledgeable editors. This creates changing content which is one of the four main ways to attract search engines.
Who is it for?
Primarily for companies who attract customers through web searches.
What was the most challenging aspect of starting up a business?
Making sure the product could be sold before investing in software development. We learned a lot about competition while making test sales calls. We made a dozen sales calls before developing any software.
What is the next step for you and your startup?
We are now in the process of making 100+ sales calls to make sure we can sell the product as it exists today, that is, without further software enhancements. Our first market will be small law practices.
What advice do you have for entrepreneurs?
Make sure you can sell the product before making the product. Get prospects to promise to buy one at a deeply reduced price before ever starting work. Most folks will tell you that your idea is wonderful but few will actually write a speculative purchase order.
What Austin-based resource have you found to be the most helpful and why? I have not used any resource so far. The Austin Entrepreneur Network looks like a great asset.
Best regards,
Hall T.
Thursday, August 27, 2009
First Look Forum -- Mentorship for Startups
I often see startups seeking funding prematurely. They lack market validation, product validation, and/or a solid management team. Many times these startups engage investors only to find out that their business has too many holes to fund at this time. To solve this problem, the Austin Entrepreneur Network created the AEN First Look Forum which is an event that gives entrepreneurs the opportunity to give their fastpitch to a group of mentors and then meet those mentors in a one-on-one "speed dating" exercise to gain feedback on their business and potentially line up a mentor.
AEN ran its initial First Look Forum last Wednesday with several startups from the Austin on Rails group. We lined up the entrepreneurs in a row and gave each one sixty seconds to pitch their company. We then lined up the thirteen mentors and had each one give a sixty-second pitch on their background and experiences. Afterwards we assigned each entrepreneur to a table and had the mentors rotate through to meet each entrepreneur.
Five minutes doesn't sound like much time and it isn't. It's just enough time to decide if there's a reason to followup afterwards for a coffee and explore the potential of bringing the mentor on-board as an advisor or to gain general coaching.
The short time frame means there's little time for pleasantries (how are you doing today?, etc).
In talking with the entrepreneurs afterwards the key lesson learned is that the entrepreneur needs to know in advance what help is needed and to ask questions in that direction. Tangential questions can quickly burn up your five minute window so you need to say on topic.
To join the program, each entrepreneur filled out a one-page application. In some cases, the entrepreneur left key information blank such as revenues. I encouraged each one to not leave blanks on the form and if the information is confidential to indicate so. A blank indicates to the reader that the startup doesn't have anything in that category.
If you're an entrepreneur or a mentor, we welcome your application to join us in a future First Look Forum. Please email me at director (AT) austinentrepreneurnetwork (DOT) org and I'll send you the application form.
Best regards,
Hall T.
AEN ran its initial First Look Forum last Wednesday with several startups from the Austin on Rails group. We lined up the entrepreneurs in a row and gave each one sixty seconds to pitch their company. We then lined up the thirteen mentors and had each one give a sixty-second pitch on their background and experiences. Afterwards we assigned each entrepreneur to a table and had the mentors rotate through to meet each entrepreneur.
Five minutes doesn't sound like much time and it isn't. It's just enough time to decide if there's a reason to followup afterwards for a coffee and explore the potential of bringing the mentor on-board as an advisor or to gain general coaching.
The short time frame means there's little time for pleasantries (how are you doing today?, etc).
In talking with the entrepreneurs afterwards the key lesson learned is that the entrepreneur needs to know in advance what help is needed and to ask questions in that direction. Tangential questions can quickly burn up your five minute window so you need to say on topic.
To join the program, each entrepreneur filled out a one-page application. In some cases, the entrepreneur left key information blank such as revenues. I encouraged each one to not leave blanks on the form and if the information is confidential to indicate so. A blank indicates to the reader that the startup doesn't have anything in that category.
If you're an entrepreneur or a mentor, we welcome your application to join us in a future First Look Forum. Please email me at director (AT) austinentrepreneurnetwork (DOT) org and I'll send you the application form.
Best regards,
Hall T.
Wednesday, August 12, 2009
Rick Winters Talks about His Startup and Business Experience
Where are you from originally?
I was born in NE Kansas. I was a Farm boy before I moved to San Antonio when I started high school.
What university did you go to?
I went to UT where I received a BS-ASE and MBA.
What brought you to Austin?
UT and the Austin environment/lifestyle brought me here.
What is your passion and strength?
The challenge of taking a company from an idea to a viable commercial company and all of the stages, steps and resistances encountered along the way. I am a generalist by nature with a strong curiosity to learn new things and apply that broad knowledge and experience to solving the problems of growth and change. My specific skills are in finance/accounting, management information systems and manufacturing operations/ lean manufacturing.
What need does it fulfill?
I find statisfaction in achievement and the pride of being associated with an exciting product or service.
What exactly do you bring to startups?
Broad experience in multiple industries. In both high growth as well as turnaround/change environments. My total systems orientation lets me see the big picture of a company’s markets, management, operations and financial stability and put strategies and tactics in place to address the issues.
What type of startup would benefit from your strengths?
Ones that complement or relate to real estate, manufacturing (electronic and aerospace), and oil & gas.
What was the most challenging aspect of starting up a business?
Clearly and succinctly identifying the value proposition and getting a team identified and committed that has the demonstrated skills and expertise to help ensure success. With those elements in place it is easier to get and receive help and to show investors your path to success.
What advice do you have for entrepreneurs?
Don’t give up, keep refining and honing your idea, build your team, get all the help you can from as many sources as you can. There are many groups in Austin and on the internet to research.
What Austin-based resource have you found to be the most helpful and why?
I don’t have one best. There are many networking and entrepreneurial organizations in Austin. There is one for almost any type of company and stage of development from idea to seed round funding to B round, etc. The more networking one does the better the focus becomes on what groups or individuals can be most beneficial to their specific needs.
Best regards,
Hall T.
I was born in NE Kansas. I was a Farm boy before I moved to San Antonio when I started high school.
What university did you go to?
I went to UT where I received a BS-ASE and MBA.
What brought you to Austin?
UT and the Austin environment/lifestyle brought me here.
What is your passion and strength?
The challenge of taking a company from an idea to a viable commercial company and all of the stages, steps and resistances encountered along the way. I am a generalist by nature with a strong curiosity to learn new things and apply that broad knowledge and experience to solving the problems of growth and change. My specific skills are in finance/accounting, management information systems and manufacturing operations/ lean manufacturing.
What need does it fulfill?
I find statisfaction in achievement and the pride of being associated with an exciting product or service.
What exactly do you bring to startups?
Broad experience in multiple industries. In both high growth as well as turnaround/change environments. My total systems orientation lets me see the big picture of a company’s markets, management, operations and financial stability and put strategies and tactics in place to address the issues.
What type of startup would benefit from your strengths?
Ones that complement or relate to real estate, manufacturing (electronic and aerospace), and oil & gas.
What was the most challenging aspect of starting up a business?
Clearly and succinctly identifying the value proposition and getting a team identified and committed that has the demonstrated skills and expertise to help ensure success. With those elements in place it is easier to get and receive help and to show investors your path to success.
What advice do you have for entrepreneurs?
Don’t give up, keep refining and honing your idea, build your team, get all the help you can from as many sources as you can. There are many groups in Austin and on the internet to research.
What Austin-based resource have you found to be the most helpful and why?
I don’t have one best. There are many networking and entrepreneurial organizations in Austin. There is one for almost any type of company and stage of development from idea to seed round funding to B round, etc. The more networking one does the better the focus becomes on what groups or individuals can be most beneficial to their specific needs.
Best regards,
Hall T.
Monday, August 10, 2009
JC Otero and Team Talk about the Austin Social Innovation Hub
JC Otero and Team Talk about the Austin Social Innovation Hub
Where are you from originally?
JC: San Antonio, Texas
Matt: Albuquerque, New Mexico
Martin: New Braunfels, Texas
James: Houston, Texas
What university did you go to?
JC: I graduated from St. Edwards University with a double major in Business
Administration and Management.
Matt: I have a B.S. in Psychology from the University of Texas at Austin, a M.A. in Psychology from the University of Pennsylvania, and a M.S. in Computer Information Systems from St. Edward's University.
Martin: First part Blinn Junior College in Bryan, then Concordia University
in Austin. Majored in management and human resources with many classes in
entrepreneurship and social work.
James: I was a triple major/quadruple minor at the University of Texas at
Austin. Hook 'em!
What brought you to Austin?
JC: I feel that destiny brought me here--perhaps with a little push from my
parents who commanded me to attend college in any city except for San
Antonio--and now that I'm here I can't see myself leaving anytime soon.
Matt: I came to Austin in 1998 to attend the University of Texas. I
originally majored in Electrical Engineering but after taking a year off and
some soul searching, I decided that I was more interested in studying human
cognition. After a brief stint in Philadelphia to get my Masters degree in
Psychology, I had trouble finding a job and decided to get back into
computer programming. A friend of mine encouraged me to apply to work at an
Austin start-up as a computer programmer...and I have been here ever since.
Martin: I was recruited to help with a national non-profit that catalyzes
college students to create social change. They had a presence here.
James: The University of Texas initially pulled me in; the eccentricity and
vibrancy kept me here.
What is the idea behind your startup?
Catalyzing the entrepreneurial community to develop innovative solutions
for social challenges is at the heart of what we do. We believe that anyone
can be a change agent--sometimes they just need a little help.
What need does it fulfill?
There are many people in Austin who have innovative solutions to the problems that plague our society. But what's lacking is a structured ecosystem that enables these great ideas to become real solutions. The Austin Social Innovation Hub is stimulating this ecosystem by making resources available to social innovators, providing the network that enables them to connect, educating the public and new social innovators, and doing the research and advocacy to support social innovation in Austin and beyond.
What exactly does your product do?*
Our purpose is to catalyze innovative solutions to social problems.
We have four offerings:
- *Incubation*: launch and accelerate innovative social enterprises from
idea to cash flow
- *Networking*: facilitate collaboration between social innovators and
social enterprises in Austin both online and face-to-face settings
- *Education*: educate individuals and enterprises on how to create
social impact
- *Research*: research and advocate for social innovation in Austin and
beyond
Specifically, we're creating physical hub for social innovation that serves as a co working and incubation space and a website that enhances collaboration among Austin’s key stakeholders and concentrates resources on promising social innovators and enterprises.
Who is it for?
Anyone interested in creating social impact.
The hub is meant to be highly inclusive; individuals of all backgrounds and
enterprises at all stages of development are invited to join the community. Our members and partners have diverse interests: creative capitalism, social
entrepreneurship, social business, corporate social responsibility, blended
value enterprise, double and triple bottom line accounting, microfinance, and sustainability, among others. But their unifying characteristic is their passion for social innovation, which has several definitions, but one is "an initiative, product or process which profoundly changes the basic routines, resource and authority flows or beliefs of any social system. Successful social innovations are therefore disruptive and have durability, impact and scale." [Frances Westley, University of Waterloo]
What was the most challenging aspect of starting up a business?
Everyone has great ideas but not everyone wants to do the work to make it a
reality. For us the most challenging aspect of getting starting has been
getting a committed team to work for sweat equity to actualize our long-term
vision. Considering that everyone involved is still working full-time jobs
or in other revenue generating ventures, it's been difficult to coordinate
schedules and hit some set goals. Fortunately, we're all bootstrappers and
we're comfortable making magic happen with the resources we do have.
What is the next step for you and your startup?
The next step is to solidify our business and organization model and begin
testing it in Austin. To do that, we need to continue to build our team and
secure initial funding. We expect to launch the incubator component in 2010.
What advice do you have for entrepreneurs?
Have faith in yourself, your skills, your strengths, and the possibilities
around you. If you are passionate about something stop talking about it and
do it! Beware of what the naysayers say; if you believe in it, then go for
it and don't give up. And, most importantly, don't underestimate the
willingness of others in your reach to help you with accomplishing your
goals.
What Austin-based resource have you found to be the most helpful and why?
The Austin entrepreneurial community as a whole has been absolutely amazing.
Their willingness to brainstorm with us, review our developing model, and
provide psychological support has been instrumental in moving us forward.
It's incredible what you can accomplish when you align with a group of
dedicated individuals towards a shared, powerful goal. And what better place
to be for socially-minded innovation and entrepreneurship than in Austin,
Texas!
Best regards,
Hall T.
Where are you from originally?
JC: San Antonio, Texas
Matt: Albuquerque, New Mexico
Martin: New Braunfels, Texas
James: Houston, Texas
What university did you go to?
JC: I graduated from St. Edwards University with a double major in Business
Administration and Management.
Matt: I have a B.S. in Psychology from the University of Texas at Austin, a M.A. in Psychology from the University of Pennsylvania, and a M.S. in Computer Information Systems from St. Edward's University.
Martin: First part Blinn Junior College in Bryan, then Concordia University
in Austin. Majored in management and human resources with many classes in
entrepreneurship and social work.
James: I was a triple major/quadruple minor at the University of Texas at
Austin. Hook 'em!
What brought you to Austin?
JC: I feel that destiny brought me here--perhaps with a little push from my
parents who commanded me to attend college in any city except for San
Antonio--and now that I'm here I can't see myself leaving anytime soon.
Matt: I came to Austin in 1998 to attend the University of Texas. I
originally majored in Electrical Engineering but after taking a year off and
some soul searching, I decided that I was more interested in studying human
cognition. After a brief stint in Philadelphia to get my Masters degree in
Psychology, I had trouble finding a job and decided to get back into
computer programming. A friend of mine encouraged me to apply to work at an
Austin start-up as a computer programmer...and I have been here ever since.
Martin: I was recruited to help with a national non-profit that catalyzes
college students to create social change. They had a presence here.
James: The University of Texas initially pulled me in; the eccentricity and
vibrancy kept me here.
What is the idea behind your startup?
Catalyzing the entrepreneurial community to develop innovative solutions
for social challenges is at the heart of what we do. We believe that anyone
can be a change agent--sometimes they just need a little help.
What need does it fulfill?
There are many people in Austin who have innovative solutions to the problems that plague our society. But what's lacking is a structured ecosystem that enables these great ideas to become real solutions. The Austin Social Innovation Hub is stimulating this ecosystem by making resources available to social innovators, providing the network that enables them to connect, educating the public and new social innovators, and doing the research and advocacy to support social innovation in Austin and beyond.
What exactly does your product do?*
Our purpose is to catalyze innovative solutions to social problems.
We have four offerings:
- *Incubation*: launch and accelerate innovative social enterprises from
idea to cash flow
- *Networking*: facilitate collaboration between social innovators and
social enterprises in Austin both online and face-to-face settings
- *Education*: educate individuals and enterprises on how to create
social impact
- *Research*: research and advocate for social innovation in Austin and
beyond
Specifically, we're creating physical hub for social innovation that serves as a co working and incubation space and a website that enhances collaboration among Austin’s key stakeholders and concentrates resources on promising social innovators and enterprises.
Who is it for?
Anyone interested in creating social impact.
The hub is meant to be highly inclusive; individuals of all backgrounds and
enterprises at all stages of development are invited to join the community. Our members and partners have diverse interests: creative capitalism, social
entrepreneurship, social business, corporate social responsibility, blended
value enterprise, double and triple bottom line accounting, microfinance, and sustainability, among others. But their unifying characteristic is their passion for social innovation, which has several definitions, but one is "an initiative, product or process which profoundly changes the basic routines, resource and authority flows or beliefs of any social system. Successful social innovations are therefore disruptive and have durability, impact and scale." [Frances Westley, University of Waterloo]
What was the most challenging aspect of starting up a business?
Everyone has great ideas but not everyone wants to do the work to make it a
reality. For us the most challenging aspect of getting starting has been
getting a committed team to work for sweat equity to actualize our long-term
vision. Considering that everyone involved is still working full-time jobs
or in other revenue generating ventures, it's been difficult to coordinate
schedules and hit some set goals. Fortunately, we're all bootstrappers and
we're comfortable making magic happen with the resources we do have.
What is the next step for you and your startup?
The next step is to solidify our business and organization model and begin
testing it in Austin. To do that, we need to continue to build our team and
secure initial funding. We expect to launch the incubator component in 2010.
What advice do you have for entrepreneurs?
Have faith in yourself, your skills, your strengths, and the possibilities
around you. If you are passionate about something stop talking about it and
do it! Beware of what the naysayers say; if you believe in it, then go for
it and don't give up. And, most importantly, don't underestimate the
willingness of others in your reach to help you with accomplishing your
goals.
What Austin-based resource have you found to be the most helpful and why?
The Austin entrepreneurial community as a whole has been absolutely amazing.
Their willingness to brainstorm with us, review our developing model, and
provide psychological support has been instrumental in moving us forward.
It's incredible what you can accomplish when you align with a group of
dedicated individuals towards a shared, powerful goal. And what better place
to be for socially-minded innovation and entrepreneurship than in Austin,
Texas!
Best regards,
Hall T.
Wednesday, August 5, 2009
Steve Barcik of FireFly LED Lighting Talks about His Startup
Steve Barcik of FireFly LED Lighting Talks about His Startup
Where are you from originally?
As a kid we moved all over the US, Canada, and even lived in Wales, in the UK. We moved three times while I was in the 8th grade, making me the new kid. This experience gave me three things; a desire put down roots, I have been in Austin since 1987, second, a true desire for new things and meeting new people, and finally the importance of friends and those relationships. My Family is from Virginia.
What brought you to Austin?
The tech environment and Texas Instruments. I was in Houston working in the Chemical Industry and wanted to do more engineering and be in a great town. TI hired me and some of my first projects there were in lighting and electrical power. TI was an amazing learning experience. I still maintain those friends from back then, what a great time.
What university did you go to?
Virginia Military Institute. I received my BSME there, and learned a lot about managing myself and others. VMI was a great experience and I credit the environment, professors, and my classmates with giving me an experience so unique and powerful.
What is the idea behind your startup?
The idea is implement a bunch of amazing ideas I and my partner have to deploy great LED technology to provide lighting for commercial, institutional and residential buildings. LED lighting uses 86% less energy and generates 86% less heat than incandescent lighting. A triple point of technology, awareness and need is occurring, and we have the ideas and the team to ride that wave. We are focused on ROI for the commercial, retail, and architectural segments. ROI is the home run for lighting now, as energy savings are so important.
Tell me more about your startup concept?
To make a difference for the environment and to impact the costs of doing business for companies and people using our products. Our start up uses a lean model, and applies resources directly to the problems, removing constraints others have placed on the problem or solution. Through clean sheet design, sub-contracting and utilizing the resources available in the USA, we are building a competitive and successful lighting company.
What exactly does your product do?
Our product directly replaces light bulbs and other lighting sources. The bulbs output the same or greater amounts of light and create the same look and feel. The bulbs last up to 25 times longer than incandescent and 2 to 5X longer than compact florescent bulbs. They are also resistant to vibration, cold, and are instant start. Our product also eliminates the mercury hazards of compact florescent bulbs.
Who is it for?
Anyone anywhere who uses any type of lighting. Imagine reducing the electrical lighting bill for your company or home by 86%, or your total electrical bill by 34% and getting a ROI in 4 months in some cases. It is also for the planet and our future, reducing energy usage is as equally important as creating green energy sources.
What was the most challenging aspect of starting up a business?
Selecting the next idea to pursue, we have several other ideas lined up, and this one is so right, putting other ideas and opportunities aside for now was the most difficult part.
What is the next step for you and your startup?
We are launching our first products, so to successfully complete engineering and move to the next design gate, with ease and grace. And of course to raise funds and partner with great investors who see the vision and goal.
What advice do you have for entrepreneurs?
Have a great time.
Choose quickly and move with purpose.
Grow yourself, in every way possible, mentally, spiritually, physically, emotionally, and relationally.
Best regards,
Hall T.
Where are you from originally?
As a kid we moved all over the US, Canada, and even lived in Wales, in the UK. We moved three times while I was in the 8th grade, making me the new kid. This experience gave me three things; a desire put down roots, I have been in Austin since 1987, second, a true desire for new things and meeting new people, and finally the importance of friends and those relationships. My Family is from Virginia.
What brought you to Austin?
The tech environment and Texas Instruments. I was in Houston working in the Chemical Industry and wanted to do more engineering and be in a great town. TI hired me and some of my first projects there were in lighting and electrical power. TI was an amazing learning experience. I still maintain those friends from back then, what a great time.
What university did you go to?
Virginia Military Institute. I received my BSME there, and learned a lot about managing myself and others. VMI was a great experience and I credit the environment, professors, and my classmates with giving me an experience so unique and powerful.
What is the idea behind your startup?
The idea is implement a bunch of amazing ideas I and my partner have to deploy great LED technology to provide lighting for commercial, institutional and residential buildings. LED lighting uses 86% less energy and generates 86% less heat than incandescent lighting. A triple point of technology, awareness and need is occurring, and we have the ideas and the team to ride that wave. We are focused on ROI for the commercial, retail, and architectural segments. ROI is the home run for lighting now, as energy savings are so important.
Tell me more about your startup concept?
To make a difference for the environment and to impact the costs of doing business for companies and people using our products. Our start up uses a lean model, and applies resources directly to the problems, removing constraints others have placed on the problem or solution. Through clean sheet design, sub-contracting and utilizing the resources available in the USA, we are building a competitive and successful lighting company.
What exactly does your product do?
Our product directly replaces light bulbs and other lighting sources. The bulbs output the same or greater amounts of light and create the same look and feel. The bulbs last up to 25 times longer than incandescent and 2 to 5X longer than compact florescent bulbs. They are also resistant to vibration, cold, and are instant start. Our product also eliminates the mercury hazards of compact florescent bulbs.
Who is it for?
Anyone anywhere who uses any type of lighting. Imagine reducing the electrical lighting bill for your company or home by 86%, or your total electrical bill by 34% and getting a ROI in 4 months in some cases. It is also for the planet and our future, reducing energy usage is as equally important as creating green energy sources.
What was the most challenging aspect of starting up a business?
Selecting the next idea to pursue, we have several other ideas lined up, and this one is so right, putting other ideas and opportunities aside for now was the most difficult part.
What is the next step for you and your startup?
We are launching our first products, so to successfully complete engineering and move to the next design gate, with ease and grace. And of course to raise funds and partner with great investors who see the vision and goal.
What advice do you have for entrepreneurs?
Have a great time.
Choose quickly and move with purpose.
Grow yourself, in every way possible, mentally, spiritually, physically, emotionally, and relationally.
Best regards,
Hall T.
Monday, August 3, 2009
Steven Dipasquale of Comerica Talks about Financing Startups
Steven Dipasquale of Comerica Talks about Financing Startups
Where are you from originally?
Houston
What university did you go to?
Texas A&M University. BBA in Finance.
What brought you to Austin?
I spent about 10 years in Atlanta and decided it was time to get back to Texas.
Austin of course was our first choice given the quality of life.
What is your passion and strength?
Not to sound contrived, but helping people - helping entrepreneurs succeed who are changing the way we live our lives.
What need does it fulfill?
Assisting entrepreneurs with big ideas as an advisor is very rewarding in itself.
What exactly do you bring to startups?
Finance background working with early stage and late stage tech and life science companies. Understand the various types of debt financing available throughout a company’s life cycle and thorough understanding of venture capital and private equity. Experience includes identifying new business opportunities, due diligence, market research, analytical capabilities and financial analysis, and contacts in the private equity and venture capital communities.
What type of startup would benefit from your strengths?
I believe I could add value across various industries and stages. My background working with startups has been broad.
What was the most challenging aspect of starting up a business?
My only direct experience has been working to grow tech practices at various institutions. I believe the biggest challenge is reminding the market that there are actually commercial banks that focus on working with early stage companies. Hiring the right team to deliver the message is key. (I don’t think you want to hear about my childhood lawn business or paper route…)
What advice do you have for entrepreneurs?
Like the question above, follow your passion enthusiastically.
What Austin-based resource have you found to be the most helpful and why?
ATI--the resources, events, etc.
Best regards,
Hall T.
Where are you from originally?
Houston
What university did you go to?
Texas A&M University. BBA in Finance.
What brought you to Austin?
I spent about 10 years in Atlanta and decided it was time to get back to Texas.
Austin of course was our first choice given the quality of life.
What is your passion and strength?
Not to sound contrived, but helping people - helping entrepreneurs succeed who are changing the way we live our lives.
What need does it fulfill?
Assisting entrepreneurs with big ideas as an advisor is very rewarding in itself.
What exactly do you bring to startups?
Finance background working with early stage and late stage tech and life science companies. Understand the various types of debt financing available throughout a company’s life cycle and thorough understanding of venture capital and private equity. Experience includes identifying new business opportunities, due diligence, market research, analytical capabilities and financial analysis, and contacts in the private equity and venture capital communities.
What type of startup would benefit from your strengths?
I believe I could add value across various industries and stages. My background working with startups has been broad.
What was the most challenging aspect of starting up a business?
My only direct experience has been working to grow tech practices at various institutions. I believe the biggest challenge is reminding the market that there are actually commercial banks that focus on working with early stage companies. Hiring the right team to deliver the message is key. (I don’t think you want to hear about my childhood lawn business or paper route…)
What advice do you have for entrepreneurs?
Like the question above, follow your passion enthusiastically.
What Austin-based resource have you found to be the most helpful and why?
ATI--the resources, events, etc.
Best regards,
Hall T.
Friday, July 31, 2009
The “Meet the Lender” Fair is Coming Next Week
The Small Business Development Program is quite active in Austin. They are hosting its annual "Meet the Lender" Business Loan Information Fair on August 6th, 2009. Meet the Lender is a free event and introduces business owners to business lenders face to face in an informal setting where they can gather information on lending programs.
This year's Meet the Lender event takes place at Palmer Events Center on
Aug. 6th from 3 to 7 p.m. and will feature more than 40 community lenders,
area banks, factoring firms and government loan programs including Greater
Texas Federal Credit Union, Business Community Lenders of Texas, and
OMNIBANK. They also offer their BizAid class at 3:30pm and 5:15pm.
I walked the show last year and found several city-sponsored programs available that I wasn’t aware of before. The SBA loan process has changed dramatically over the past year due to the economy and stimulus funding. In some cases the fees are reduced or waived altogether. If you are raising funding, you may want to check out this event.
Best regards,
Hall T.
This year's Meet the Lender event takes place at Palmer Events Center on
Aug. 6th from 3 to 7 p.m. and will feature more than 40 community lenders,
area banks, factoring firms and government loan programs including Greater
Texas Federal Credit Union, Business Community Lenders of Texas, and
OMNIBANK. They also offer their BizAid class at 3:30pm and 5:15pm.
I walked the show last year and found several city-sponsored programs available that I wasn’t aware of before. The SBA loan process has changed dramatically over the past year due to the economy and stimulus funding. In some cases the fees are reduced or waived altogether. If you are raising funding, you may want to check out this event.
Best regards,
Hall T.
Monday, July 20, 2009
Roy and Bertrand Sosa Talk about RISE Austin
Roy and Bertrand Sosa Talk about RISE Austin
Where are you from originally?
Roy and I are originally from Mexico. Austin became our home in 1986.
What university did you go to?
We both attended the University of Texas at Austin.
What brought you to Austin?
We moved to Austin with our mother who wanted to pursue a career as a doctor in the US.
What is the idea behind your group?
In 2006, my brother and I were approached by the Kauffman Foundation to lead an initiative for Austin as part of their founding of "Entrepreneurship Week USA." Our concept was to create a not-for-profit conference for and by entrepreneurs that would truly embody and celebrate Austin's entrepreneurial spirit. We modeled RISE on a format similar to SXSW in which multiple events would be held simultaneously at venues around Austin. In its third year, RISE - a Relationship & Information Series for Entrepreneurs - is an annual conference series dedicated to providing a free forum for entrepreneurs to connect and exchange ideas that inspire the entrepreneurial spirit.
What exactly does your group do?
For, by and about entrepreneurs, RISE takes place in concurrent sessions hosted by local entrepreneurs in venues around Greater Austin. Sessions are limited to 25 participants and there is no cost to host or attend sessions. RISE sessions are
independently organized and peer-led and represent a range of topics of interest to entrepreneurs of all sizes in all industries. In 2009, RISE offered related sessions organized into series including the Social Entrepreneurship series, the Hispanic Entrepreneurs series and the Austin Women Entrepreneurs series. Past RISE hosts include Roy Spence (GSD&M), John Mackey (Whole Foods Market), Jimmy Treybig (NEA), Philip Berber (A Glimmer of Hope Foundation), Clayton Christopher (Sweet Leaf Tea), Elizabeth Avellan (Troublemaker Studios), Jack McDonald (Perficient), and Ellen Wood (vCFO).
Who is it for?
Created and produced for entrepreneurs by entrepreneurs, the event attracts a
growing number of aspiring, new and established entrepreneurs in all industries each year. Over the past three years, RISE attendance has doubled annually and in 2009, we had over 1700 people join us for RISE sessions.
What is the next step for you and your group?
As the demand for RISE increases, we have been transforming from a single event into a year-round organization. In 2010, RISE anticipates offering quarterly networking and educational forums in addition to our annual March conference.
What advice do you have for entrepreneurs?
One of the keys to success in business is to find a partner. We're fortunate to be
brothers, but the key is to partner with someone who complements your strengths and weaknesses and to build a partnership based on trust and commitment. Just like dieting, climbing a mountain or achieving any goal, it's so much easier to sustain the momentum when you have a partner to support you. We would change our line of business before we changed partners.
Best regards,
Hall T.
Where are you from originally?
Roy and I are originally from Mexico. Austin became our home in 1986.
What university did you go to?
We both attended the University of Texas at Austin.
What brought you to Austin?
We moved to Austin with our mother who wanted to pursue a career as a doctor in the US.
What is the idea behind your group?
In 2006, my brother and I were approached by the Kauffman Foundation to lead an initiative for Austin as part of their founding of "Entrepreneurship Week USA." Our concept was to create a not-for-profit conference for and by entrepreneurs that would truly embody and celebrate Austin's entrepreneurial spirit. We modeled RISE on a format similar to SXSW in which multiple events would be held simultaneously at venues around Austin. In its third year, RISE - a Relationship & Information Series for Entrepreneurs - is an annual conference series dedicated to providing a free forum for entrepreneurs to connect and exchange ideas that inspire the entrepreneurial spirit.
What exactly does your group do?
For, by and about entrepreneurs, RISE takes place in concurrent sessions hosted by local entrepreneurs in venues around Greater Austin. Sessions are limited to 25 participants and there is no cost to host or attend sessions. RISE sessions are
independently organized and peer-led and represent a range of topics of interest to entrepreneurs of all sizes in all industries. In 2009, RISE offered related sessions organized into series including the Social Entrepreneurship series, the Hispanic Entrepreneurs series and the Austin Women Entrepreneurs series. Past RISE hosts include Roy Spence (GSD&M), John Mackey (Whole Foods Market), Jimmy Treybig (NEA), Philip Berber (A Glimmer of Hope Foundation), Clayton Christopher (Sweet Leaf Tea), Elizabeth Avellan (Troublemaker Studios), Jack McDonald (Perficient), and Ellen Wood (vCFO).
Who is it for?
Created and produced for entrepreneurs by entrepreneurs, the event attracts a
growing number of aspiring, new and established entrepreneurs in all industries each year. Over the past three years, RISE attendance has doubled annually and in 2009, we had over 1700 people join us for RISE sessions.
What is the next step for you and your group?
As the demand for RISE increases, we have been transforming from a single event into a year-round organization. In 2010, RISE anticipates offering quarterly networking and educational forums in addition to our annual March conference.
What advice do you have for entrepreneurs?
One of the keys to success in business is to find a partner. We're fortunate to be
brothers, but the key is to partner with someone who complements your strengths and weaknesses and to build a partnership based on trust and commitment. Just like dieting, climbing a mountain or achieving any goal, it's so much easier to sustain the momentum when you have a partner to support you. We would change our line of business before we changed partners.
Best regards,
Hall T.
Wednesday, July 15, 2009
New Austin Entrepreneur Network Website is now Live
The new Austin Entrepreneur Network website is now live. We started two years ago with a blog Angel Investing in Austin which will continue with funding information but we’ve now expanded it to include over 20 blogs from the Austin entrepreneur scene. In addition to funding the blogs cover topics such as sales, marketing, hiring, and more. Breaking news, social responsibility. gaming, mobile technology, web-based topics, and more can also be found.
All the blogs feed into the home page stream. For a selected view of the blogs you can select Entrepreneur Views, Web, Startup Stories, or other categorized views.
The calendar is not yet live but the goal is to highlight key events coming up but not every event going on in Austin as it can create information overload. Also, there’s a “Resource for Entrepreneurs” page which contains over 125 groups in Austin related to entrepreneurship and startups. Check out the site as you may find a new group you haven’t known before.
Finally, AEN offers mentorship in the form of classes, workshops, and courses. Check out the About page to find out about upcoming offerings.
AEN promotes networking, mentorship, and funding. If you know of a good Austin-based blog that you find helpful, please send it to me at
Director (at) austinentrepreneursnetwork DOT org
and we may post it on the feed. Also, if you know of any Austin-based resources not already listed on our resource page, I would also like to hear about it. Finally, I welcome your feedback on the design of the site.
Best regards,
Hall T.
All the blogs feed into the home page stream. For a selected view of the blogs you can select Entrepreneur Views, Web, Startup Stories, or other categorized views.
The calendar is not yet live but the goal is to highlight key events coming up but not every event going on in Austin as it can create information overload. Also, there’s a “Resource for Entrepreneurs” page which contains over 125 groups in Austin related to entrepreneurship and startups. Check out the site as you may find a new group you haven’t known before.
Finally, AEN offers mentorship in the form of classes, workshops, and courses. Check out the About page to find out about upcoming offerings.
AEN promotes networking, mentorship, and funding. If you know of a good Austin-based blog that you find helpful, please send it to me at
Director (at) austinentrepreneursnetwork DOT org
and we may post it on the feed. Also, if you know of any Austin-based resources not already listed on our resource page, I would also like to hear about it. Finally, I welcome your feedback on the design of the site.
Best regards,
Hall T.
Monday, July 13, 2009
Damon Borich of Reveal Sciences Talks about His Startup
Damon Borich of Reveal Sciences Talks about His Startup
Where are you from originally?
I grew up right in the heart of Austin. Both of my parents were teachers and I was lucky to spend my summers riding the Hike and Bike Trail, going to Barton Springs, and enjoying the lakes and parks around Austin with my family. In fact, I live in the same neighborhood where I grew up, Travis Heights, and still remember the days when I mowed lawns around the area. It’s rare for a week to pass when I don’t bump into an old childhood buddy or someone who my parents taught in class.
What university did you go to?
Because my Dad was a professor at UT, I grew up with the notion that one could not attend any other University. I finished my studies at UT in 1995, followed byfour years in Houston at Baylor College of Medicine getting my Medical Doctorate. I finished my medical training with a residency at a trauma hospital in Georgia and came back to Austin during the tech-boom in 2000.
What brought you to Austin?
I came back to Austin originally to work with Labnetics, a start-up company that had just licensed technology from UT for medical diagnostics. I served as the Chief Medical Officer for two years and then ventured out to start my own company, Detekt Biomedical in 2003. Coming back to Austin was a simple decision for me- great town, lots of family, and a unique spirit that has always been a perfect fit for me.
What is the idea behind your startup?
Our company, Reveal Sciences, is really a perfect blend between medical diagnostics and the growing industry of Aesthetic medicine. In essence- we have created a product that allows skin-care professionals, dermatologists, and plastic surgeons to scientifically determine the unique skin-care needs of their clients and patients. Our system saves time and money for both parties, enhances their business, and provides their practice with a competitive edge via real science and medical-grade technology. Visit us at www.revealsciences.com
What need does it fulfill?
The cosmetics industry has made tremendous advances in the past decade particularly in terms of active ingredient development for the anti-ageing skincare market. The unaddressed issue is, however, that the consumer is inundated with unsubstantiated claims that force them to make uneducated guesses about which skincare and cosmeceutical products will work best for them. Our system scientifically analyzes consumers’ unique skin wellness attributes and matches them with the products and treatment regimens tailored to their needs.
What exactly does your product do?
Our product consists of a small, sleek, handheld optical imaging instrument that analyzes disposable skin sampling strips. The sampling strips are applied to various regions of a client’s facial skin and removed and placed in to the analyzer. In essence, we are able to non-invasively and painlessly remove the superficial surface layer of the skin and determine a variety of skin-wellness parameters such as hydration level, moisture retention ability, elasticity, consistency, sensitivity, wrinkles and fine lines, and pore size and oil production. Our first generation device is intended to be used by licensed skincare professionals, however, our next generation device runs on a mobile platform like the iPhone. A quick visit to www.mycaretype.com will allow you to see the product in action.
Who is it for?
Ultimately our product is intended for everyone interested in the health and wellness of their skin. The consumer is the initial driving force behind this growing market, however, the system will be implemented in high-end spas and salons with licensed estheticians on staff to provide skincare consultations.
What was the most challenging aspect of starting up a business?
Having been involved in a few start-ups, both successful and not, I have to say that this has been the smoothest. A lot of that is due to the intellectual and structural support initially provided by Emergent Technologies, a local VC firm here in Austin. All of the typical concerns and management issues associated with a start-up have really been alleviated by the management support from ETI- this allows me and my team to focus on product development, innovation, and sales.
What is the next step for you and your startup?
We are launching our CareType™ Analysis System this summer- primarily targeting Estheticians and MedSpas. We plan to bring the technology to the consumer later this year in the form of a mobile hardware and software application for platforms such as the iPhone and other consumer devices. The concept here is that consumers will be able to track and monitor their esthetic well-being at home and be able to independently optimize their skin-wellness regimen.
What advice do you have for entrepreneurs?
There are many different ways to go about it, but what has worked for me is to take my idea as far as I can towards a sellable product or service. If you truly have a novel idea then there should be a partner out there who could be an early adopter and could fund the development and perhaps be the first customer. What worked back in 2000 won’t necessarily work today- hone your idea, make a prototype or product, and find your customers first.
What Austin-based resource have you found to be the most helpful and why?
The University of Texas is an incredible resource that we Austinites are tremendously fortunate to have at our fingertips. Starting with the library system and research facilities and complimented by the overwhelming number of young and highly talented students and graduates looking to get involved in something cutting-edge and fresh. Our company constantly taps this resource for hiring interns and recent graduates. Attend the free seminars, bounce your idea off of some of the leaders in the field who happen to be right in your backyard.
Best regards,
Hall T.
Where are you from originally?
I grew up right in the heart of Austin. Both of my parents were teachers and I was lucky to spend my summers riding the Hike and Bike Trail, going to Barton Springs, and enjoying the lakes and parks around Austin with my family. In fact, I live in the same neighborhood where I grew up, Travis Heights, and still remember the days when I mowed lawns around the area. It’s rare for a week to pass when I don’t bump into an old childhood buddy or someone who my parents taught in class.
What university did you go to?
Because my Dad was a professor at UT, I grew up with the notion that one could not attend any other University. I finished my studies at UT in 1995, followed byfour years in Houston at Baylor College of Medicine getting my Medical Doctorate. I finished my medical training with a residency at a trauma hospital in Georgia and came back to Austin during the tech-boom in 2000.
What brought you to Austin?
I came back to Austin originally to work with Labnetics, a start-up company that had just licensed technology from UT for medical diagnostics. I served as the Chief Medical Officer for two years and then ventured out to start my own company, Detekt Biomedical in 2003. Coming back to Austin was a simple decision for me- great town, lots of family, and a unique spirit that has always been a perfect fit for me.
What is the idea behind your startup?
Our company, Reveal Sciences, is really a perfect blend between medical diagnostics and the growing industry of Aesthetic medicine. In essence- we have created a product that allows skin-care professionals, dermatologists, and plastic surgeons to scientifically determine the unique skin-care needs of their clients and patients. Our system saves time and money for both parties, enhances their business, and provides their practice with a competitive edge via real science and medical-grade technology. Visit us at www.revealsciences.com
What need does it fulfill?
The cosmetics industry has made tremendous advances in the past decade particularly in terms of active ingredient development for the anti-ageing skincare market. The unaddressed issue is, however, that the consumer is inundated with unsubstantiated claims that force them to make uneducated guesses about which skincare and cosmeceutical products will work best for them. Our system scientifically analyzes consumers’ unique skin wellness attributes and matches them with the products and treatment regimens tailored to their needs.
What exactly does your product do?
Our product consists of a small, sleek, handheld optical imaging instrument that analyzes disposable skin sampling strips. The sampling strips are applied to various regions of a client’s facial skin and removed and placed in to the analyzer. In essence, we are able to non-invasively and painlessly remove the superficial surface layer of the skin and determine a variety of skin-wellness parameters such as hydration level, moisture retention ability, elasticity, consistency, sensitivity, wrinkles and fine lines, and pore size and oil production. Our first generation device is intended to be used by licensed skincare professionals, however, our next generation device runs on a mobile platform like the iPhone. A quick visit to www.mycaretype.com will allow you to see the product in action.
Who is it for?
Ultimately our product is intended for everyone interested in the health and wellness of their skin. The consumer is the initial driving force behind this growing market, however, the system will be implemented in high-end spas and salons with licensed estheticians on staff to provide skincare consultations.
What was the most challenging aspect of starting up a business?
Having been involved in a few start-ups, both successful and not, I have to say that this has been the smoothest. A lot of that is due to the intellectual and structural support initially provided by Emergent Technologies, a local VC firm here in Austin. All of the typical concerns and management issues associated with a start-up have really been alleviated by the management support from ETI- this allows me and my team to focus on product development, innovation, and sales.
What is the next step for you and your startup?
We are launching our CareType™ Analysis System this summer- primarily targeting Estheticians and MedSpas. We plan to bring the technology to the consumer later this year in the form of a mobile hardware and software application for platforms such as the iPhone and other consumer devices. The concept here is that consumers will be able to track and monitor their esthetic well-being at home and be able to independently optimize their skin-wellness regimen.
What advice do you have for entrepreneurs?
There are many different ways to go about it, but what has worked for me is to take my idea as far as I can towards a sellable product or service. If you truly have a novel idea then there should be a partner out there who could be an early adopter and could fund the development and perhaps be the first customer. What worked back in 2000 won’t necessarily work today- hone your idea, make a prototype or product, and find your customers first.
What Austin-based resource have you found to be the most helpful and why?
The University of Texas is an incredible resource that we Austinites are tremendously fortunate to have at our fingertips. Starting with the library system and research facilities and complimented by the overwhelming number of young and highly talented students and graduates looking to get involved in something cutting-edge and fresh. Our company constantly taps this resource for hiring interns and recent graduates. Attend the free seminars, bounce your idea off of some of the leaders in the field who happen to be right in your backyard.
Best regards,
Hall T.
Wednesday, July 8, 2009
Laura Sandefer of Acton Talks about Acton Academy
Laura Sandefer of Acton Talks about Acton Academy
Where are you from originally?
I was born in Sacramento, California and grew up in Tacoma, Washington; Cresskill, New Jersey and Oklahoma City, Oklahoma.
What university did you go to?
I received my BA from Vanderbilt University and my MEd. from Peabody College.
What brought you to Austin?
Love brought me to Austin! I moved here to marry Jeff.
What is the idea behind your group?
The idea behind Acton Academy is to create a new model for educating children that combines the classic ideals of mentoring and apprenticeship with an injection of the evolving sim game technology (see Acton Sim games at http://www.actonsims.com) and an undergirding of Montessori methodology. The purpose of it all is to inspire the innate human quest for discovery and meaning in both the children who participate and their parents. More simply put, we will be a community of lifelong learners.
What need does it fulfill?
Acton Academy fulfills the need to unleash the infinite possibilities of our children and get them off an assembly-line approach to education.
What exactly does your group do?
We teach and inspire children and families; and we write curriculum that is innovative, tested and effective.
Who is it for?
We are starting with children ages 4-9 but ultimately will expand up through high school following a plan of slow growth.
What was the most challenging aspect of starting up the group?
The biggest challenge we have faced and will continue to face is the creation of an economic model for a school. It is a massive challenge to keep the cost to attend at the lower end of the private tuition range here in Austin while ensuring that we will break even. We are committed not to ever depend on government funding or private donations. We want to create this so that others can establish a school, use our curriculum and survive financially.
What is the next step for you and your group?
Our next step is to buy furniture and classroom materials.
What advice do you have for entrepreneurs?
Be courageous. Jumping into something completely new is scary and there are so many arguments against going against the cultural norm. It is easier to be comfortable and go with the flow. Or to let other people solve the problems of the world. But good ideas carried out with love and lots of sweat are what make the world go ‘round.
Best regards,
Hall T.
Where are you from originally?
I was born in Sacramento, California and grew up in Tacoma, Washington; Cresskill, New Jersey and Oklahoma City, Oklahoma.
What university did you go to?
I received my BA from Vanderbilt University and my MEd. from Peabody College.
What brought you to Austin?
Love brought me to Austin! I moved here to marry Jeff.
What is the idea behind your group?
The idea behind Acton Academy is to create a new model for educating children that combines the classic ideals of mentoring and apprenticeship with an injection of the evolving sim game technology (see Acton Sim games at http://www.actonsims.com) and an undergirding of Montessori methodology. The purpose of it all is to inspire the innate human quest for discovery and meaning in both the children who participate and their parents. More simply put, we will be a community of lifelong learners.
What need does it fulfill?
Acton Academy fulfills the need to unleash the infinite possibilities of our children and get them off an assembly-line approach to education.
What exactly does your group do?
We teach and inspire children and families; and we write curriculum that is innovative, tested and effective.
Who is it for?
We are starting with children ages 4-9 but ultimately will expand up through high school following a plan of slow growth.
What was the most challenging aspect of starting up the group?
The biggest challenge we have faced and will continue to face is the creation of an economic model for a school. It is a massive challenge to keep the cost to attend at the lower end of the private tuition range here in Austin while ensuring that we will break even. We are committed not to ever depend on government funding or private donations. We want to create this so that others can establish a school, use our curriculum and survive financially.
What is the next step for you and your group?
Our next step is to buy furniture and classroom materials.
What advice do you have for entrepreneurs?
Be courageous. Jumping into something completely new is scary and there are so many arguments against going against the cultural norm. It is easier to be comfortable and go with the flow. Or to let other people solve the problems of the world. But good ideas carried out with love and lots of sweat are what make the world go ‘round.
Best regards,
Hall T.
Monday, July 6, 2009
The Ten Outcomes of an Angel Investment by John Huston
One of my favorite podcasts is the Frank Peters Show. In a recent interview with John Huston who is the current President of the Angel Capital Association, he outlines the ten possible outcomes of an angel investment. I list them below here but recommend you listen to the podcast or read the full text here.
1)“Grand Slam Homerun” -- Exceeds a 10X in five years (>58% IRR)
2)“A Lucrative Exit” -- <58 10x="" 1="" a="" at="" br="" but="" irr="" least="" return="">
3)The “Harry Houdini” -- Escaped with a 1X return; No loss
4)“Lost a Little” -- Didn’t lose it all (<1x 0x="" a="" br="" but="" not="">
5)“My Grandkids’ Company” -- Company is successful but there’s no exit in sight. Maybe it will occur after my grandchildren inherit the portfolio?
6)The “Zombie” -- A walking dead venture which will never become a great company, nor will it die so I can declare the loss.
7)“Deductible Loss” -- It died without a tail and I got to declare the loss (or sold my shares for $1.00 to record the loss)
8)“Funeral Expenses” -- Not only did I lose all my original investment, I had to also cover the costs of winding down the venture, plus pay accountants to provide the final accounting needed so I could take my tax deduction.
9)“The Worst Gets Worse” -- “The loss that keeps on losing” due to ongoing litigation expenses even after the company has no value.
10)“Angel Hell” -- In addition to losing all my investment plus a considerable amount of my time, media coverage, tarnished my reputation, plus damaged my relationship with co-investors.
John mentioned that loss of the investment dollars in a deal is the least worry. He cites loss of c0-investor relationship, tarnished reputation, and loss of time as even bigger concerns in a losing venture.
Best regards,
Hall T.
Thursday, July 2, 2009
Jason Cohen of SmartBear Talks about His Company
Jason Cohen of SmartBear Talks about His Company
Where are you from originally?
Austin, TX! One of the few natives.
What university did you go to?
UT here in town, a BA in CS.
What brought you to Austin?
Mom. :-) See? You assumed...
What is the idea behind your startup?
Smart Bear makes Code Collaborator-- the first and most popular tool for peer code review.
What need does it fulfill?
Just as authors have editors, software developers review each other's work
too. Developers have special needs -- integration with tools like version
control and IDEs, working with people who might be 12 time zones away, and
bosses who want metrics and reports.
Our software removes the drudgery from code review process and paperwork.
What exactly does your product do?
Code Collaborator removes pain from code review in several specific ways.
First, it integrates with version control systems, so you can say "review code I haven't checked in" or "review changelist 1234" with a click of a
button.
Second, it organizes threaded discussions in-line with the code in an web-based interface. Because the chatter and code is displayed together, you don't get massive emails or meeting notes with phrases like "on line 1534 of //depot/foo/bar....".
Third, it tracks the defects you find in code review. You can either fix them on the spot or transfer them to your issue tracker for later.
Fourth, it collects metrics automatically, so it takes no time to get all the data and reports managers want. Some organizations are under contracts that require code review (e.g. medial devices and DoD contracts), and Code Collaborator produces the reports you need.
Who is it for?
Anyone who writes code! Any language, any platform, any IDE.
What was the most challenging aspect of starting up a business?
Psychology. When you're bootstrapping alone there's no one to share the
work, share the burden, share the worries or share the decisions. There's no one who can buck up your spirits or give you a pep talk when you need it. No one to agree that the big decisions are good and well thought-out.
What is the next step for you and your startup?
We just had a big new v5.0 release where we added document, image, and URL
reviews to our existing text-file code reviews. That opens up new markets and new customers so that will keep us busy for a while.
I'm a fan of "do one thing and do it well," so although we're branching out
to new people we'll always stick to our core competency, which is people
reviewing each others' work.
What advice do you have for entrepreneurs?
Be honest with yourself and with your
http://blog.asmartbear.com/blog/joy-of-honesty-in-business-a-5-part-series.html customers.
Admit to yourself when something's not working and change it. Don't be a
slave to any one idea if there's evidence that it's wrong. Proceed as if
you're right about everything, but be ready to change your mind about
anything, including your entire business
model.
Have strong opinions, weakly held.
There will be rough times, but that's normal. so don't get discouraged.
What Austin-based resource have you found to be the most helpful and why?
Networking events where you actually meet new people. There's all sorts of
amazing people in Austin, many of whom are happy to give advice over a cup
of coffee; the trick is meeting them.
Best regards,
Hall T.
Where are you from originally?
Austin, TX! One of the few natives.
What university did you go to?
UT here in town, a BA in CS.
What brought you to Austin?
Mom. :-) See? You assumed...
What is the idea behind your startup?
Smart Bear
What need does it fulfill?
Just as authors have editors, software developers review each other's work
too. Developers have special needs -- integration with tools like version
control and IDEs, working with people who might be 12 time zones away, and
bosses who want metrics and reports.
Our software removes the drudgery from code review process and paperwork.
What exactly does your product do?
Code Collaborator removes pain from code review in several specific ways.
First, it integrates with version control systems, so you can say "review code I haven't checked in" or "review changelist 1234" with a click of a
button.
Second, it organizes threaded discussions in-line with the code in an web-based interface. Because the chatter and code is displayed together, you don't get massive emails or meeting notes with phrases like "on line 1534 of //depot/foo/bar....".
Third, it tracks the defects you find in code review. You can either fix them on the spot or transfer them to your issue tracker for later.
Fourth, it collects metrics automatically, so it takes no time to get all the data and reports managers want. Some organizations are under contracts that require code review (e.g. medial devices and DoD contracts), and Code Collaborator produces the reports you need.
Who is it for?
Anyone who writes code! Any language, any platform, any IDE.
What was the most challenging aspect of starting up a business?
Psychology. When you're bootstrapping alone there's no one to share the
work, share the burden, share the worries or share the decisions. There's no one who can buck up your spirits or give you a pep talk when you need it. No one to agree that the big decisions are good and well thought-out.
What is the next step for you and your startup?
We just had a big new v5.0 release where we added document, image, and URL
reviews to our existing text-file code reviews. That opens up new markets and new customers so that will keep us busy for a while.
I'm a fan of "do one thing and do it well," so although we're branching out
to new people we'll always stick to our core competency, which is people
reviewing each others' work.
What advice do you have for entrepreneurs?
Be honest with yourself and with your
http://blog.asmartbear.com/blog/joy-of-honesty-in-business-a-5-part-series.html customers.
Admit to yourself when something's not working and change it. Don't be a
slave to any one idea if there's evidence that it's wrong. Proceed as if
you're right about everything, but be ready to change your mind about
anything, including your entire business
model.
Have strong opinions, weakly held.
There will be rough times, but that's normal. so don't get discouraged.
What Austin-based resource have you found to be the most helpful and why?
Networking events where you actually meet new people. There's all sorts of
amazing people in Austin, many of whom are happy to give advice over a cup
of coffee; the trick is meeting them.
Best regards,
Hall T.
Monday, June 29, 2009
Michael Yuan of Ringful Talks about His Startup
Michael Yuan of Ringful Talks about His Startup
Where are you from originally?
I am originally from China.
What brought you to Austin?
Graduate school. UT is a world class research university, especially in engineering and science, with many programs ranking top 10 in the country.
What university did you go to?
UT Austin. I got a PhD in Astrophysics there.
What is the idea behind your startup?
The idea is to help companies and web sites go mobile. Today, when a company wants to reach its customers and employees via mobile, it typically thinks in terms of mobile web + SMS campaign. But people use way more than just web+SMS in their real life. Why should we limit service delivery to those two channels and miss out the rest? We have a platform that reaches people via multiple channels, and integrates with enterprise backends to make mobile part of the existing workflow. We make money by hosting applications developed for our platform, license our technology to enterprises, and develop end-user facing applications on our own.
Tell me more about your startup concept?
The reason people think mobile web + SMS first when it comes to mobility, is because those two can be easily fit into a "web application" paradigm. They can be easy "add-ons" to your existing web applications. On the other hand, key mobility features such as voice calls, rich client mobile apps, rich PUSH messages, multimedia content, location services, and social network notifications / messages, are much harder to integrate.
Our product is to 'mashup" all those different delivery channels with existing workflows in enterprise middleware and web sites. We have a public RESTful web service that allows any developer to add telephony voice / SMS services to their web sites. The RESTful API is designed in such way that a web developer can be productive after an hour of learning.
We host the service, and handle complicated tasks to integrate into the telco network (we can make phone calls and send SMS to over 30 countries).
We also have a portfolio of smart phone libraries and applications for popular platforms such as iPhone, BlackBerry, Android, Symbian and Windows Mobile.
We also customize / license our technology for enterprises. We offer consulting and maintenance services to companies who want to use technology to reach mobile users, or to increase productivity / reduce cost of their own employees. The service includes both the customization of the platform itself, as well as application development on top of the platform. In this case, we can either host the customized platform on our own infrastructure or license it to be hosted inside the corporate firewall.
What exactly does your product do?
Our product is a communication and workflow platform. On one end, it reaches end users via multiple channels:
* Regular voice calls
* Mobile messaging such as SMS and MMS
* Rich client apps such as iPhone / Android / BlackBerry / Windows Mobile apps
* Special PUSH messages to rich mobile clients such as Java Push and Blackberry Push
* Mobile web
* Social network notifications and messages
* Email and IM
* etc. etc.
On the other end, our platform plugs directly into the existing web site or enterprise middleware. Through enterprise web services (SOA) and middleware APIs, we can connect into most popular CRM / ERP / Portal / App Server / Workflow engine / Rules engine inside the enterprise.
There are a few publicly available demos we have developed to demonstrate the concept of things you could do with our platform. Check them out at our web site: http://www.ringful.com/
Who is it for?
Consumers and enterprises. We are seeing particular interest in healthcare mobility enablement, but there are other growth verticals for us as well such as media and telecom.
What was the most challenging aspect of starting up a business?
Resisting the temptation of going after investment capital too early. Bootstrapping has been hard, but it allows us to be nimble and move fast as we seek the best opportunity for optimal growth.
What is the next step for you and your startup?
Manage growth. As business is starting to build up, we need to remain focused on strengthening our core values for Mobility Mashups and watch from spreading too thin into areas that appear like low hanging fruit, that pays well in the short term, but in reality is a serious distraction. We want to be a product company.
What advice do you have for entrepreneurs?
Enjoy the battle.
Best regards,
Hall T.
Where are you from originally?
I am originally from China.
What brought you to Austin?
Graduate school. UT is a world class research university, especially in engineering and science, with many programs ranking top 10 in the country.
What university did you go to?
UT Austin. I got a PhD in Astrophysics there.
What is the idea behind your startup?
The idea is to help companies and web sites go mobile. Today, when a company wants to reach its customers and employees via mobile, it typically thinks in terms of mobile web + SMS campaign. But people use way more than just web+SMS in their real life. Why should we limit service delivery to those two channels and miss out the rest? We have a platform that reaches people via multiple channels, and integrates with enterprise backends to make mobile part of the existing workflow. We make money by hosting applications developed for our platform, license our technology to enterprises, and develop end-user facing applications on our own.
Tell me more about your startup concept?
The reason people think mobile web + SMS first when it comes to mobility, is because those two can be easily fit into a "web application" paradigm. They can be easy "add-ons" to your existing web applications. On the other hand, key mobility features such as voice calls, rich client mobile apps, rich PUSH messages, multimedia content, location services, and social network notifications / messages, are much harder to integrate.
Our product is to 'mashup" all those different delivery channels with existing workflows in enterprise middleware and web sites. We have a public RESTful web service that allows any developer to add telephony voice / SMS services to their web sites. The RESTful API is designed in such way that a web developer can be productive after an hour of learning.
We host the service, and handle complicated tasks to integrate into the telco network (we can make phone calls and send SMS to over 30 countries).
We also have a portfolio of smart phone libraries and applications for popular platforms such as iPhone, BlackBerry, Android, Symbian and Windows Mobile.
We also customize / license our technology for enterprises. We offer consulting and maintenance services to companies who want to use technology to reach mobile users, or to increase productivity / reduce cost of their own employees. The service includes both the customization of the platform itself, as well as application development on top of the platform. In this case, we can either host the customized platform on our own infrastructure or license it to be hosted inside the corporate firewall.
What exactly does your product do?
Our product is a communication and workflow platform. On one end, it reaches end users via multiple channels:
* Regular voice calls
* Mobile messaging such as SMS and MMS
* Rich client apps such as iPhone / Android / BlackBerry / Windows Mobile apps
* Special PUSH messages to rich mobile clients such as Java Push and Blackberry Push
* Mobile web
* Social network notifications and messages
* Email and IM
* etc. etc.
On the other end, our platform plugs directly into the existing web site or enterprise middleware. Through enterprise web services (SOA) and middleware APIs, we can connect into most popular CRM / ERP / Portal / App Server / Workflow engine / Rules engine inside the enterprise.
There are a few publicly available demos we have developed to demonstrate the concept of things you could do with our platform. Check them out at our web site: http://www.ringful.com/
Who is it for?
Consumers and enterprises. We are seeing particular interest in healthcare mobility enablement, but there are other growth verticals for us as well such as media and telecom.
What was the most challenging aspect of starting up a business?
Resisting the temptation of going after investment capital too early. Bootstrapping has been hard, but it allows us to be nimble and move fast as we seek the best opportunity for optimal growth.
What is the next step for you and your startup?
Manage growth. As business is starting to build up, we need to remain focused on strengthening our core values for Mobility Mashups and watch from spreading too thin into areas that appear like low hanging fruit, that pays well in the short term, but in reality is a serious distraction. We want to be a product company.
What advice do you have for entrepreneurs?
Enjoy the battle.
Best regards,
Hall T.
Wednesday, June 24, 2009
Mat Harris of BizGreet Talks about His Startup
Mat Harris of BizGreet Talks about His Startup
Where are you from originally?
I grew up in Allen, Texas, which is a suburb north of Dallas.
What university did you go to?
Baylor University, BBA ’96, Marketing & Broadcasting double major
Baylor University MBA '01
What brought you to Austin?
My wife and I got married two weeks after graduation, and she wanted to come to the University of Texas to finish her teaching degree, and we never left. That was 13 years ago.
What is the idea behind your startup?
BizGreet rests upon the idea that personalization matters, and that businesses need a way to automate personalized video campaigns. Everyone probably knows that personalization matters, instinctively if not empirically. When I say your name, I can stop your brain. For a second. Slow you down long enough to actually hear what I have to say next. BizGreet automates this process, allowing any organization to mass customize video messages to any number of individuals personally, with minimal effort.
What need does it fulfill?
For B2B clients, BizGreet either replaces or seriously augments cold calling, direct mail, and e-newsletters in the lead generation process. We are seeing B2B clients land appointments with companies they don’t have any sort of relationship with, by only sending out a BizGreet campaign to a handful of prospects. B2B clients need to know which prospects are actually leads. BizGreet streamlines the process while maximizing the outcomes. For B2C Clients, BizGreet is beginning to replace mass media, broadcast, and web banner marketing campaigns. We can send a BizGreet campaign to anyone in a contact database. Some of the companies we are talking to have 120,000 or more contacts that they don’t do a good job of tracking and keeping in touch with. We say, bring it on. BizGreet gives marketers real ROI. Which persons responded to the call to action? Who watched the video? Today especially, marketers need real, measurable results, and are hungry for specific business intelligence on their customers, not just demographic reach projections or aggregate data on a population.
What exactly does your product do?
BizGreet campaigns deliver personalized, custom marketing messages to individuals, and provide immediate calls-to-action that people can respond to in the moment. Then, BizGreet tracks each response and delivers instantaneous information to our clients, who can decide how to best follow-up.
Who is it for?
B2B clients use it to open new sales opportunities, and as pre-tradeshow lure or for post show follow-up. B2C clients use it to directly sell to end users, or to
communicate something in a very personal way. Non-profit orgs and politicians use it for fund-raising and donor communications.
What was the most challenging aspect of starting up a business?
The toughest challenge in starting a business is believing in the idea and in your
own capabilities long enough to make the business viable.
What is the next step for you and your startup?
The next step is to fund the business. We are pursuing a bootstrap strategy and
landing new opportunities every month, while we also prepare for a capital infusion. Capital will allow us to catalyze further development and reach software milestones quickly.
What advice do you have for entrepreneurs?
Right now, the most important element you can build into your business is
flexibility. Remain agile. If you’re a software startup, use an agile development
process if at all possible, but don’t stop there. Run small batches, make a handful
of presentations and ask for the sale. Close a few deals, listen to customers,
react to them, review with the team, and then do it again. Build feedback loops to
make it easy to hear from customers. They’ll tell you what thousands of dollars and months of market research can’t tell you…how to actually satisfy a real customer.
Be willing to shake things up. At the same time, put some stakes in the ground on core values and unmovables. All of this presumes that you operate a bootstrappable business. Today, you have to be able to bootstrap and prove your leadership aptitude and your business’s viability before looking for investment dollars.
Build with the right people, not just the people you like. Look for intelligent
people who are happy to disagree with you, and will stand up for their points of
view. There’s no such thing as a superstar CEO who is 100% operational/administrative and 100% sales/evangelistic. Start with one person who is great where you are weak, and who can be openly critical of you and still stand up for you. Tie yourselves together and don’t look back.
What Austin-based resource have you found to be the most helpful and why?
I found Leadership Austin to be one of the most helpful organizations for personal development. I graduated from the Emerge class at the end of 2008, and look forward to opportunities to serve in the community with the wonderful people I met through the program. Leadership Austin was great because the trainers forced me to focus on my own core values and on being true to my own leadership style. I have key strengths and core values that make me who I am, and Leadership Austin helped me to embrace those and learn to leverage them to get things done.
Best regards,
Hall T.
Where are you from originally?
I grew up in Allen, Texas, which is a suburb north of Dallas.
What university did you go to?
Baylor University, BBA ’96, Marketing & Broadcasting double major
Baylor University MBA '01
What brought you to Austin?
My wife and I got married two weeks after graduation, and she wanted to come to the University of Texas to finish her teaching degree, and we never left. That was 13 years ago.
What is the idea behind your startup?
BizGreet rests upon the idea that personalization matters, and that businesses need a way to automate personalized video campaigns. Everyone probably knows that personalization matters, instinctively if not empirically. When I say your name, I can stop your brain. For a second. Slow you down long enough to actually hear what I have to say next. BizGreet automates this process, allowing any organization to mass customize video messages to any number of individuals personally, with minimal effort.
What need does it fulfill?
For B2B clients, BizGreet either replaces or seriously augments cold calling, direct mail, and e-newsletters in the lead generation process. We are seeing B2B clients land appointments with companies they don’t have any sort of relationship with, by only sending out a BizGreet campaign to a handful of prospects. B2B clients need to know which prospects are actually leads. BizGreet streamlines the process while maximizing the outcomes. For B2C Clients, BizGreet is beginning to replace mass media, broadcast, and web banner marketing campaigns. We can send a BizGreet campaign to anyone in a contact database. Some of the companies we are talking to have 120,000 or more contacts that they don’t do a good job of tracking and keeping in touch with. We say, bring it on. BizGreet gives marketers real ROI. Which persons responded to the call to action? Who watched the video? Today especially, marketers need real, measurable results, and are hungry for specific business intelligence on their customers, not just demographic reach projections or aggregate data on a population.
What exactly does your product do?
BizGreet campaigns deliver personalized, custom marketing messages to individuals, and provide immediate calls-to-action that people can respond to in the moment. Then, BizGreet tracks each response and delivers instantaneous information to our clients, who can decide how to best follow-up.
Who is it for?
B2B clients use it to open new sales opportunities, and as pre-tradeshow lure or for post show follow-up. B2C clients use it to directly sell to end users, or to
communicate something in a very personal way. Non-profit orgs and politicians use it for fund-raising and donor communications.
What was the most challenging aspect of starting up a business?
The toughest challenge in starting a business is believing in the idea and in your
own capabilities long enough to make the business viable.
What is the next step for you and your startup?
The next step is to fund the business. We are pursuing a bootstrap strategy and
landing new opportunities every month, while we also prepare for a capital infusion. Capital will allow us to catalyze further development and reach software milestones quickly.
What advice do you have for entrepreneurs?
Right now, the most important element you can build into your business is
flexibility. Remain agile. If you’re a software startup, use an agile development
process if at all possible, but don’t stop there. Run small batches, make a handful
of presentations and ask for the sale. Close a few deals, listen to customers,
react to them, review with the team, and then do it again. Build feedback loops to
make it easy to hear from customers. They’ll tell you what thousands of dollars and months of market research can’t tell you…how to actually satisfy a real customer.
Be willing to shake things up. At the same time, put some stakes in the ground on core values and unmovables. All of this presumes that you operate a bootstrappable business. Today, you have to be able to bootstrap and prove your leadership aptitude and your business’s viability before looking for investment dollars.
Build with the right people, not just the people you like. Look for intelligent
people who are happy to disagree with you, and will stand up for their points of
view. There’s no such thing as a superstar CEO who is 100% operational/administrative and 100% sales/evangelistic. Start with one person who is great where you are weak, and who can be openly critical of you and still stand up for you. Tie yourselves together and don’t look back.
What Austin-based resource have you found to be the most helpful and why?
I found Leadership Austin to be one of the most helpful organizations for personal development. I graduated from the Emerge class at the end of 2008, and look forward to opportunities to serve in the community with the wonderful people I met through the program. Leadership Austin was great because the trainers forced me to focus on my own core values and on being true to my own leadership style. I have key strengths and core values that make me who I am, and Leadership Austin helped me to embrace those and learn to leverage them to get things done.
Best regards,
Hall T.
Thursday, June 18, 2009
Sean Roach of Yukuri Talks about His Startup
Sean Roach of Yukuri Talks about His Startup
Where are you from originally?
Primarily suburban Philadelphia but I lived in a bunch of places growing up, including 6 years in Europe.
What university did you go to?
I received a BA in Economics from Vanderbilt University
What brought you to Austin?
My wife and I moved here in 2002 when I took a job with Dell building the partner network for their then new Managed Services division.
What is the idea behind your startup?
The modern workplace is undergoing tremendous changes right now but the available tools are not keeping pace. People are breaking from the confines of their cubicles but their information isn’t following. Companies need to provide younger workers with t00ls that leverage how they already interact and collaborate while at the same time retaining the skills and experience of workers preparing to retire.
At Yukuri we are looking to build the tools that enable individuals and teams to
leverage needed resources and information regardless of roles, departments, or geography.
What need does it fulfill?
It’s all about increasing productivity and decreasing waste by putting the right information in the right hands at the right time. A big piece of that is enabling companies utilize the knowledge, production, experiences, and connections resident within that organization and its members regardless of current role or location.
Companies that are able to capitalize on this will create a sustainable competitive advantage going forward.
What exactly does your product do?
Workstyle is a personal portal that enables users to work with the activities,
accomplishments, and knowledge of the entire organization. Users can quickly create custom workplaces by just dragging and dropping portlets already containing links to the resources they need to accomplish an assigned task. If they need one that doesn’t exist, the process for creating a new one can be as easy as copy and paste. The reporting process has also been automated so that management can keep abreast of what is going on in their organization
without slowing down groups with requests for status updates or briefings.
By enabling users to access all the information they need from a single place,
Workstyle eliminates fruitless searching and allows them to really start producing.
Who is it for?
Right now we are primarily targeting the Sales and Professional Services teams of small and medium businesses. The ROI around enabling these roles to produce more revenue is extremely compelling and a key part of our positioning. That said, we believe Workstyle can add significant value across all departments so we
Expect to see usage grow organically within customer accounts as well.
What was the most challenging aspect of starting up a business?
Aside from the financial uncertainty that comes with going out on your own, I think the most challenging thing has been taking this grand vision and that was in my head and building it into something tangible that others can quickly grasp. It’s a constant battle to stay focused on building what customers need and will use rather than adding all the features and functions you think are cool.
What is the next step for you and your startup?
Increasing customer traction, refining the product, and expanding our team.
What advice do you have for entrepreneurs?
Stay flexible. You cannot predict the future so building flexibility into your thinking, finances, organization, and products provides you with the agility to respond and take advantage of the unexpected when it arises.
What Austin-based resource have you found to be the most helpful and why?
I think the whole ecosystem around entrepreneurship that exists in Austin has been a huge help to us. People have been so generous with their time- providing advice and making introductions - it just blows me away. The assistance and guidance that is out there makes Austin a great place to be an entrepreneur.
Best regards,
Hall T.
Where are you from originally?
Primarily suburban Philadelphia but I lived in a bunch of places growing up, including 6 years in Europe.
What university did you go to?
I received a BA in Economics from Vanderbilt University
What brought you to Austin?
My wife and I moved here in 2002 when I took a job with Dell building the partner network for their then new Managed Services division.
What is the idea behind your startup?
The modern workplace is undergoing tremendous changes right now but the available tools are not keeping pace. People are breaking from the confines of their cubicles but their information isn’t following. Companies need to provide younger workers with t00ls that leverage how they already interact and collaborate while at the same time retaining the skills and experience of workers preparing to retire.
At Yukuri we are looking to build the tools that enable individuals and teams to
leverage needed resources and information regardless of roles, departments, or geography.
What need does it fulfill?
It’s all about increasing productivity and decreasing waste by putting the right information in the right hands at the right time. A big piece of that is enabling companies utilize the knowledge, production, experiences, and connections resident within that organization and its members regardless of current role or location.
Companies that are able to capitalize on this will create a sustainable competitive advantage going forward.
What exactly does your product do?
Workstyle is a personal portal that enables users to work with the activities,
accomplishments, and knowledge of the entire organization. Users can quickly create custom workplaces by just dragging and dropping portlets already containing links to the resources they need to accomplish an assigned task. If they need one that doesn’t exist, the process for creating a new one can be as easy as copy and paste. The reporting process has also been automated so that management can keep abreast of what is going on in their organization
without slowing down groups with requests for status updates or briefings.
By enabling users to access all the information they need from a single place,
Workstyle eliminates fruitless searching and allows them to really start producing.
Who is it for?
Right now we are primarily targeting the Sales and Professional Services teams of small and medium businesses. The ROI around enabling these roles to produce more revenue is extremely compelling and a key part of our positioning. That said, we believe Workstyle can add significant value across all departments so we
Expect to see usage grow organically within customer accounts as well.
What was the most challenging aspect of starting up a business?
Aside from the financial uncertainty that comes with going out on your own, I think the most challenging thing has been taking this grand vision and that was in my head and building it into something tangible that others can quickly grasp. It’s a constant battle to stay focused on building what customers need and will use rather than adding all the features and functions you think are cool.
What is the next step for you and your startup?
Increasing customer traction, refining the product, and expanding our team.
What advice do you have for entrepreneurs?
Stay flexible. You cannot predict the future so building flexibility into your thinking, finances, organization, and products provides you with the agility to respond and take advantage of the unexpected when it arises.
What Austin-based resource have you found to be the most helpful and why?
I think the whole ecosystem around entrepreneurship that exists in Austin has been a huge help to us. People have been so generous with their time- providing advice and making introductions - it just blows me away. The assistance and guidance that is out there makes Austin a great place to be an entrepreneur.
Best regards,
Hall T.
Thursday, June 11, 2009
Guest Blogger Kimberly Key Talks about the Biggest Reason Entrepreneurs Fail
I’ve seen companies succeed and I’ve seen companies fail. In fact, I’ve been part of companies that were able to sustain steady growth and still thrive today while others collided as soon as they took off.
One company, in particular, that comes to mind never should have failed, but it did. It’s also the reason I transitioned out of engineering and got into entrepreneurial coaching in the first place.
Their cause of failure was caused by relationship strive and power struggles (see my book at Ten Keys To Power Struggles if you or anyone you know is experiencing this problem). Yet, this post is entitled the biggest reason entrepreneurs fail and although I believed at one time that businesses failed because of problematic human interactions, I’ve now come to realize that there’s an even lower common denominator than that—and it’s something most business experts have missed.
Take a moment and think about what you’ve heard, read, or experienced as the leading cause of business failure.
Are you listing them?
Let’s see if any of these are on the list:
Did you come up with inadequate or lack of planning?
How about marketing?
Did you say stupidity? (Well, surely you’ve had that sentiment from time to time.)
Okay, what about not having enough capital?
Or, as my previous experience revealed, how about relationship
challenges (this can include battling with a partner, investor, staff, or just plain overlooking the customer’s needs).
According to entrepreneurship author and Case Western University professor Scott Shane, there’s even the possibility that failure is a measure of a good economy if your venture folded. He purports, “Having fewer entrepreneurs means that we are experiencing economic growth. The more developed a country is, the fewer people work for themselves.”
This post isn’t about telling you to go work for a high growth company. (Although it’s cool if you do.) This is about providing support and insight so that you can make your entrepreneurial venture succeed—and maybe even turn it into one of those high growth companies that Shane says is good for our GDP. If that interests you, then please read on.
I listed some of the common reasons people say that businesses fail. There’s a lot of research out there that provide reasons and many of the stats contradict other researchers’ findings. There’s also the discussion about teasing out superfluous data and accounting for confounding variables, etc. However, What I’ve found to be at the core of most of my client’s issues is this one basic human flaw that
undermines even our best intentions.
This flaw explains why smokers can’t seem to quit even when the doctor
says it’s going to kill them and they desperately desire to quit.
It also accounts for the billions of dollars that are spent on gym memberships, self-help programs, and other health and wellness miracles that end up unused and untried as soon as the commitment was made.
I believe this flaw translates into business start-ups and reveals why most businesses fail (8 out of 10) within the first year (64% by the fifth year).
This flaw, while seemingly simple, is the disease responsible for ruining your best intentions. It’s why you can’t focus—and, unfortunately, it’s worsened with the advent of video games, microwave ovens, and microblogging sites like Twitter.
It’s not ADD or ADHD, but it is this distracter gene’s ancestor and it resides in ALL of us.
It’s our primal reptilian brain that causes us to be so immediate focused that it takes us right off track from our original agenda. It’s the source of procrastination. It’s the source of emotional hijacking. It’s why the best-laid plans go awry.
The primal reptilian brain feeds off of distraction, drama, and holds tight to emotional traumatic triggers that transform wisdom and grace into momentary flights of rage and despair.
The good news is that the primal reptilian brain can be your best ally. You just need to learn how to harness your inner power and make your primal brain work for you rather than against you.
For instance, let’s say you want to make X number of marketing calls a
week, but you never seem to get it done. Basically you keep finding yourself procrastinating. You might loathe the task. Maybe you have some fear of failure or rejection. You could even have fear of success. Or you get distracted with all of your other responsibilities. Whatever the reason may be, your primal brain is
working against you if you’re not making the calls—and it’s feeding off the energy from the fear, loathing and/or distractions.
The trick to making your primal brain assist you in making those marketing calls can be two-fold. You can employ that good old-fashioned work ethic that says you have to make X number of calls a day before you can relax or have some type of reward. Secondly, you can also up the ante by offering a penalty payment to your assistant, colleague, mentor, or a family member each time you don’t make the
required calls that week. However, in order for this last part of the trick to work, it needs to be realistic but painful enough to make you miss the money that was doled out as your penalty payment.
This last trick works because it makes your primal brain want to protect you from the pain of the money loss. Before that, your primal brain sensed the pain from the fear and loathing and worked hard to keep you off your task no matter how much you tried to motivate or convince yourself.
Did you get that? Your primal brain is motivated to protect you and any sign of fear of loathing activates your primal brain, causing it to rescue you from the source of your pain.
Now think about what happens when you start a business. That’s right— fear of failure. Fear of those looming statistics that say you’re probably going to fail. Fears from your family, friends and colleagues who shake their head at your decision. Fear from the loss of security, benefits and support staff that makes you feel safe when you’re working for a stable company. Fear of your own decision-making skills.
Need I go on? The inherent and pervasive fear from kicking off an entrepreneurial venture can activate your primal brain to protect you
and make you abandon your venture (either through procrastination of a
needed but dreaded task, overwhelmed helplessness, poor relational functioning, etc.).
However, your primal brain can be your most powerful ally and loyal protector. The key is learning how to make it work for you so that you can accomplish the goals your frontal lobe creates (e.g. business plans, entrepreneurial ventures, networking, writing a book, losing weight, going on dates, listening, eating healthy, etc., etc.).
If you would like to learn specific methods for harnessing your inner ally and making your primal brain work for you rather than against you, please join me for a special-request seminar focused on entrepreneurial coaching methods that will help you harness your inner power and achieve greater success in accomplishing goals based on your passion and purpose. This is an intimate gathering of pre-screened committed entrepreneurs only with limited spots available. If you’re interested in attending, please contact me at 512.617.6356 to discuss where you’re at in your business and how this seminar can help you.
Harness Your Inner Power Seminar
Jun 26-27
Fri. Jun 26 3 PM – 5 PM with optional happy hour to follow at The
Grove
Sat. Jun 27 9:30 AM – 12 Noon
The Overlook at Rob Roy - 6836 Bee Caves Road - 2nd floor conference
room
Austin, Texas 78746 – 512.617.6356 – Kimberly@EncompassWF.com
Cost: Normally $950; Save 75% with Club E Network & Austin Bootstrap
Discount Only $317
What to Expect: Presentation with interaction among group members
sharing their experiences with the common pitfalls of entrepreneurship, life management and ineffective habits. Bring a list of the challenges you want to overcome in your business, life and even your family, and learn customized approaches to harnessing your inner power and making your primal brain work for you rather than against you. You’ll leave with renewed energy, motivation AND real applicable strategies that will make you overcome the procrastination and devastating habits that cause 8 out of 10 businesses to fail within the first year (64% by the fifth year).
Kimberly Key is
founder of Encompass Work & Family,
an Austin-based entrepreneur coaching and counseling firm. She has
worked with Fortune 500 companies and numerous start-ups and their
families, helping them unlock their passions and achieve their
purpose.
Best regards,
Hall T.
One company, in particular, that comes to mind never should have failed, but it did. It’s also the reason I transitioned out of engineering and got into entrepreneurial coaching in the first place.
Their cause of failure was caused by relationship strive and power struggles (see my book at Ten Keys To Power Struggles if you or anyone you know is experiencing this problem). Yet, this post is entitled the biggest reason entrepreneurs fail and although I believed at one time that businesses failed because of problematic human interactions, I’ve now come to realize that there’s an even lower common denominator than that—and it’s something most business experts have missed.
Take a moment and think about what you’ve heard, read, or experienced as the leading cause of business failure.
Are you listing them?
Let’s see if any of these are on the list:
Did you come up with inadequate or lack of planning?
How about marketing?
Did you say stupidity? (Well, surely you’ve had that sentiment from time to time.)
Okay, what about not having enough capital?
Or, as my previous experience revealed, how about relationship
challenges (this can include battling with a partner, investor, staff, or just plain overlooking the customer’s needs).
According to entrepreneurship author and Case Western University professor Scott Shane, there’s even the possibility that failure is a measure of a good economy if your venture folded. He purports, “Having fewer entrepreneurs means that we are experiencing economic growth. The more developed a country is, the fewer people work for themselves.”
This post isn’t about telling you to go work for a high growth company. (Although it’s cool if you do.) This is about providing support and insight so that you can make your entrepreneurial venture succeed—and maybe even turn it into one of those high growth companies that Shane says is good for our GDP. If that interests you, then please read on.
I listed some of the common reasons people say that businesses fail. There’s a lot of research out there that provide reasons and many of the stats contradict other researchers’ findings. There’s also the discussion about teasing out superfluous data and accounting for confounding variables, etc. However, What I’ve found to be at the core of most of my client’s issues is this one basic human flaw that
undermines even our best intentions.
This flaw explains why smokers can’t seem to quit even when the doctor
says it’s going to kill them and they desperately desire to quit.
It also accounts for the billions of dollars that are spent on gym memberships, self-help programs, and other health and wellness miracles that end up unused and untried as soon as the commitment was made.
I believe this flaw translates into business start-ups and reveals why most businesses fail (8 out of 10) within the first year (64% by the fifth year).
This flaw, while seemingly simple, is the disease responsible for ruining your best intentions. It’s why you can’t focus—and, unfortunately, it’s worsened with the advent of video games, microwave ovens, and microblogging sites like Twitter.
It’s not ADD or ADHD, but it is this distracter gene’s ancestor and it resides in ALL of us.
It’s our primal reptilian brain that causes us to be so immediate focused that it takes us right off track from our original agenda. It’s the source of procrastination. It’s the source of emotional hijacking. It’s why the best-laid plans go awry.
The primal reptilian brain feeds off of distraction, drama, and holds tight to emotional traumatic triggers that transform wisdom and grace into momentary flights of rage and despair.
The good news is that the primal reptilian brain can be your best ally. You just need to learn how to harness your inner power and make your primal brain work for you rather than against you.
For instance, let’s say you want to make X number of marketing calls a
week, but you never seem to get it done. Basically you keep finding yourself procrastinating. You might loathe the task. Maybe you have some fear of failure or rejection. You could even have fear of success. Or you get distracted with all of your other responsibilities. Whatever the reason may be, your primal brain is
working against you if you’re not making the calls—and it’s feeding off the energy from the fear, loathing and/or distractions.
The trick to making your primal brain assist you in making those marketing calls can be two-fold. You can employ that good old-fashioned work ethic that says you have to make X number of calls a day before you can relax or have some type of reward. Secondly, you can also up the ante by offering a penalty payment to your assistant, colleague, mentor, or a family member each time you don’t make the
required calls that week. However, in order for this last part of the trick to work, it needs to be realistic but painful enough to make you miss the money that was doled out as your penalty payment.
This last trick works because it makes your primal brain want to protect you from the pain of the money loss. Before that, your primal brain sensed the pain from the fear and loathing and worked hard to keep you off your task no matter how much you tried to motivate or convince yourself.
Did you get that? Your primal brain is motivated to protect you and any sign of fear of loathing activates your primal brain, causing it to rescue you from the source of your pain.
Now think about what happens when you start a business. That’s right— fear of failure. Fear of those looming statistics that say you’re probably going to fail. Fears from your family, friends and colleagues who shake their head at your decision. Fear from the loss of security, benefits and support staff that makes you feel safe when you’re working for a stable company. Fear of your own decision-making skills.
Need I go on? The inherent and pervasive fear from kicking off an entrepreneurial venture can activate your primal brain to protect you
and make you abandon your venture (either through procrastination of a
needed but dreaded task, overwhelmed helplessness, poor relational functioning, etc.).
However, your primal brain can be your most powerful ally and loyal protector. The key is learning how to make it work for you so that you can accomplish the goals your frontal lobe creates (e.g. business plans, entrepreneurial ventures, networking, writing a book, losing weight, going on dates, listening, eating healthy, etc., etc.).
If you would like to learn specific methods for harnessing your inner ally and making your primal brain work for you rather than against you, please join me for a special-request seminar focused on entrepreneurial coaching methods that will help you harness your inner power and achieve greater success in accomplishing goals based on your passion and purpose. This is an intimate gathering of pre-screened committed entrepreneurs only with limited spots available. If you’re interested in attending, please contact me at 512.617.6356 to discuss where you’re at in your business and how this seminar can help you.
Harness Your Inner Power Seminar
Jun 26-27
Fri. Jun 26 3 PM – 5 PM with optional happy hour to follow at The
Grove
Sat. Jun 27 9:30 AM – 12 Noon
The Overlook at Rob Roy - 6836 Bee Caves Road - 2nd floor conference
room
Austin, Texas 78746 – 512.617.6356 – Kimberly@EncompassWF.com
Cost: Normally $950; Save 75% with Club E Network & Austin Bootstrap
Discount Only $317
What to Expect: Presentation with interaction among group members
sharing their experiences with the common pitfalls of entrepreneurship, life management and ineffective habits. Bring a list of the challenges you want to overcome in your business, life and even your family, and learn customized approaches to harnessing your inner power and making your primal brain work for you rather than against you. You’ll leave with renewed energy, motivation AND real applicable strategies that will make you overcome the procrastination and devastating habits that cause 8 out of 10 businesses to fail within the first year (64% by the fifth year).
Kimberly Key is
founder of Encompass Work & Family,
an Austin-based entrepreneur coaching and counseling firm. She has
worked with Fortune 500 companies and numerous start-ups and their
families, helping them unlock their passions and achieve their
purpose.
Best regards,
Hall T.
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