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.
Monday, July 20, 2009
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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