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OEN Blog

76 Posts tagged with the entrepreneur tag

      

OEN's Venture Northwest

Thursday, October 29, 2009 | The Nines Hotel

Do you know venture-ready companies? Encourage them to apply to OEN's Venture Northwest! Deadline is September 2nd.

OEN's Venture Northwest annually draws institutional investors from across the Western U.S. It's an opportunity to connect with the area's hottest emerging Northwest businesses and sectors.

Northwest businesses that have presented at OEN's Venture Northwest have raised over $1.3 billion in venture capital since 1996 and over $68 million in angel investment.*

*Not all Northwest businesses that presented had investments reported in Venture Source.

Apply to Present
Applications to present at Venture Northwest 2009 are now open! We're looking for strong companies from Oregon, Washington, Idaho, and British Columbia who are ready to present to investors. Visit the Venture Northwest 2009 Application Guidlines page to begin the process.

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According to Entrepreneur Magazine, Portland (deemed the Cooperator) is number 2 on the list of the top 10 startup-friendly cities.Check out Where to be an Entrepreneur in its entirety.

 

There’s something that statistics just can’t capture about the entrepreneurial spirit of a town. In some cities, the do-it-yourself business ethic may spring from a ruined economy. In others, small-business booms were carefully engineered by long-term government policies, or developed as a byproduct of rapid growth. Whatever the case, you’ll know it when you step into an entrepreneurial city: There’s an openness and energy that permeates the whole culture, an infectious enthusiasm throughout the small-business community, and a faith that any problem can be overcome through dedication and smart decisions. Read the rest of the article to see the 10 cities Entrepreneur Magazine thinks embody the entrepreneurial spirit--and some of the entrepreneurs that power them to greatness.

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Interesting article in Newsweek that suggests less talk could mean more action.  How many of us quietly align the right people to help us achieve our goals, vs. telling anyone who will listen to hear ourselves talk and never getting down to business? I vote for less talking, more doing...how bout you?

 

http://www.newsweek.com/id/197006

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Guy Kawasawki of How to Change the World recognized there is always info being shared on what entrepreneurs should do. Here he shares a dozen truthful and funny don'ts entrepreneurs should not do. See his 12 most important don'ts:

 

  1. Don’t worry, be crappy. Perfectionism, first of all, is an illusion. Nothing is perfect. Even worse, perfection stands in the way of revenue and truly learning what customers think because nothing is in their hands yet. When your product is “good enough” (but not “perfect”), ship it, and see what happens.
  2. Don’t give out lofty titles. Just because a roommate was there during the drunken weekend when you came up with the idea for your company, doesn’t mean he should be CTO. Someday, you’ll need to hand out titles like director, vice-president, and chief whatever officer, so keep them in reserve. Until then refer to each other as “co-founders” and describe the area of responsibility: for example, “programming.” If your roommates aren’t cool with this, they’re doing you a favor by showing their colors now.
  3. Don’t hire your family. The probability that your spouse or relative is the best person you can get for a job is 0%. The probability that people will hate working at company with spouses and relatives is 100%. The probability that one of you will have to go someday is also 100%. Never hire out of expediency. Always hire the best person you can get. This usually means not hiring your family unless you’re Jack or Suzy Welch.

    By the way, if you both hire your family and give them a lofty title, you are truly a bozo.

  4. Don’t sweat valuation. This is easy for a venture capitalist to say, but your company is either going to die or make you more money than you imagined. Whether you have 10% or 15% and whether your pre-money valuation is $2 million or $3 million isn’t going to really matter. Do the math: 15% of $0 is $0, so stop negotiating, take the money, and build something that’s worth more than $0. Whatever valuation a venture capitalist offers you, increase it by 20% and counter her offer. This is just enough to show that you’re not a pushover, but not too much that it will prolong or blow up the negotiations.
  5. read more

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    How to Approach a VC

    Posted by Sarena Regazzoni Jun 25, 2009

    In this article by former entrepreneur, now turned VC, Mark Suster discusses how any entrepreneur, worth their salt needs to approach a VC. You can't get noticed by being anonymous. Networking your way into a warm introduction is the way to get a chance with a VC.

     

    Read on for more of his sage insights on the topic in his post, Getting Access to the Old Boys’ Club (how to approach a VC).

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    Got the entrepreneurial bug? Ready to make some impact? A start up may be just the place for you.

     

    The upside:

    Having worked for a couple,  I can tell you the world of startups can be really fun. You get to work with really bright and creative people who come up with just amazing ideas.  Most startups are forums where they expect you to show an entrepreneurial approach to everything you do. You also get a unique opportunity to make immediate impact and that always feels good. It can be some of the best business education you can find because each team member really wears a lot of hats. It is never boring and sometimes you get to reap the benefit of tremendous financial return.

     

    The downside:

    The downside is really more of a matter of perspective. Often the challenges are considerd opportunities to do something better. It is only a negative, if working for a startup is not a fit for who you are and wher your interests lay. There is usually limited infrastructure in place at a startup so often you have to create structure and that can be uncomforatable for some. There is usually not a lot of support so delegation is more of a "nice idea" than a reality. Perhaps the toughest thing for people to contend with in a startup is the fact that the future of the company is uncertain.

     

    Interested?

    If working in a start up seems interesting to you, then put the plan in motion. To start doing some research on what's going on and how you can find entrepreneurial companies,you should get involved in OEN, and learn more about the opportunities at OTBC, the Portland State Business Accelerator, the Software Association of Oregon , The Legion of Tech as well as join appropriate groups on Linked in and Twitter

     

    By going to the various networking events offered by the organizations mentioned above you will get some good connections of where to go next. You also will want to monitor PDXmindshare and PDX Jobs.

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    667995_porquet_guardiola.jpgWhether you're thinking about starting a company, the founder of an existing start-up, or already running a company - something you may want to learn - before you launch a company or a new product is: "Is there a 'there', there?"

    More often than not, an entrepreneur's passion and great idea have a lot of momentum - moving companies forward. Unfortunately, these two driving forces conspire to blind entrepreneurs into thinking that their product / company is going to be the best thing since sliced bread when sometimes it is not.

    If you're wondering how to inexpensively and quickly validate your market - you may want to hear Mark Paul's talk on this valuable topic. He will cover two very important areas [1] understanding true market needs and [2] how they will value your product / service.

    Speaker: Mark Paul, OTBC

    Online registration for this event closes Wednesday, June 3rd at 5pm. Please contact the OEN office at 503-222-2270 if you wish to register after that date.

    Date and Time: June 4th, 4:00 pm - 6:00 pm
    Location: OTBC,12725 SW Millikan Way, Suite 101, Beaverton, Oregon
    Registration: OEN Member $30, Non-member $155 (includes a one-year individual OEN membership)
            

     

    Register for the OEN Workshop - How to Cost-Effectively Validate Your Market 

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    If you plan to raise money in the coming year, come to this all-day  workshop to learn what it takes to be investor ready.  (And yes, it is quite  possible for Oregon startups to raise money - but it takes the right  preparation.)  Our presenters will include Steve Morris, Executive Director of  OTBC, and Dennis Powers, Chair of  OEN's Portland Angel Network.


    They'll review the preparation required to get serious attention from  investors, and significantly increase your odds of obtaining investor funding.  At the end of the day, you will understand how to:


    - Verify that your business concept can provide a sufficient return for angel  or venture capital investors
    - Validate your market - be sure you're building something customers want
    - Validate your pricing and your business model - if you build it, will they  pay for it, and can you make a profit?
    - Develop financial projections to understand your funding requirements
    - Protect your intellectual property
    - Reduce the market, technology, finance and team risk to present a strong  investment opportunity
    - Develop a concise, compelling elevator pitch


    Toward the end of the day, participants will be joined by several angel and venture  capital investors and can break out into small groups so everyone has a chance to  get feedback from investors on their business concept, ask questions -- and hear  the feedback other entrepreneurs receive too.


    Increase your  odds of getting funded and join this this bootcamp on June 2 to learn how to get investor  ready.


    When: Tuesday, June 2, 2009 from 8am to 5pm

    Where: OTBC,  12725 SW Milikan Way, 3rd floor Training Room Directions

    Cost: $75  ($60 for early bird registration through May 22)


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    Boards and Advisors: Using your external team

    to help drive you and your company's successoenevents_CEORnd052109_Main_Image_250_pixels_wide_max.jpg


    Paul Gulick, formerly of Clarity Visual Systems and Planar, will lead a lively discussion that will help entrepreneurs drive their organization's success. Come share your challenges, observations and successes with other CEOs of emerging businesses.

    We will discuss why and how to structure your board of directors, advisory board, professional advisory teams (legal, accounting, etc.). Learn from the successes and challenges of others, and learn from the shared board room war stories.

    Open only to CEOs or Presidents of currently operating companies that have employees. Boxed lunch will be served. This program is limited to 12 participants, and is available on a first-come, first-served basis.

    Date: Thursday, May 21, 2009
    Time: 11:30 AM - 1:00 PM
    Location: 309 SW Sixth Avenue (Ironstone Bank Conference Room), Portland, 97204
    Registration Fee: $46.00 Member; $151 Non-member (includes one year individual OEN membership)

     

    Register for The OEN CEO Roundtable

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    Social media is not just for teens and techies anymore. It’s now being used by businesses ranging in size from emerging technology start-ups to major corporations. Why?

     

    In this program, speaker Steve Caldwell will help you understand the basics of social media and how companies are using it. He'll explain to you how company's are using the most popular tools such as Facebook, Twitter and LinkedIn. He’ll also talk about benefits such as driving traffic to a company’s website, educating your customers about new products, and getting immediate feedback from customers. All this can help you build stronger customer relationships, a critical need in today’s economy. But there is a cost, and companies need to make conscious decisions about the use of social media in their marketing mix.

     

    What you will learn:
        * What social media is
        * Which tools are most effective
        * What questions you should ask when you are considering using social media
        * How you can maximize the benefits of using social media
        * How to avoid the costs if it is not done well
    The talk with include real-world examples from businesses, including PSBA client companies, that are using social media as part of their competitive advantage.

     

    Speaker bio:
    Steve Caldwell has 15 years of management-level experience at technology companies ranging in size from a startup to a large pubic company. As Vice President of Marketing and Sales at Transport Logic, he helped grow the company from its startup phase to reach a successful liquidity event. At Intel, Mr. Caldwell was the Worldwide Marketing Manager of their Internet Service Provider Program, and then the Operations Manager of Mobility Brands. In 2003, Mr. Caldwell co-founded HBS Consulting. His current projects include advising a company on rural broadband service expansion with stimulus funding and acting as VP of Sales for the Emerging Tech Accelerator, a business development service.

    Register: http://www.psba.pdx.edu/register-5.5.09
    Date: Tuesday, May 5th, 2009
    Time: Noon - 1:10 pm

    Where: Portland State Business Accelerator, Mt. Hood Conference Room - 209
    2828 SW Corbett Avenue, Portland
    Parking: In PSBA lot; at no charge.
    Cost: Seminar and lunch: $10 in advance (must prepay by 9:00 am May 5th)
    Seminar only: No charge. (You can bring your lunch, if desired.)
    Lunch available for those who pre-register and pre-pay by May 5th at 9 am (the day of the event). Lunch includes:
        * your choice of Japanese dish, deli sandwich or salad
        * water or soda
    Questions: call 503-725-2312 or email PSBA office at axtell(a)pdx.edu.

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    Jefferson-Grapevine.jpg

    Last month (March 25) I attended the Jefferson Grapevine event in Medford, OR. The Jefferson Grapevine is a network created by SOREDI (Southern Oregon Regional Economic Development Inc.). The Jefferson Grapevinecelebrates the spirit of entrepreneurship in Southern Oregon providing a unique and powerful forum where leaders of growing businesses can network with fellow entrepreneurs, key advisors, business professionals, and qualified funding sources.”

     

    I’ve had the pleasure of attending a couple of their events this year as part of my role as regional coordinator with the Oregon Entrepreneurs Network. Their most recent event showcased Roger Akers as their keynote speaker. Akers is the founder and managing partner of Akers Capital in Sacramento, CA. Akers Capital manages Pac West Technology Fund I, LP, an investment partnership that invests in emerging technology companies in the Northwest and Northern  California.

     

    Akers is a successful angel investor and spoke about how he and his team helped stimulate an entrepreneurial movement in the Sacramento area. His talk was so refreshing on many levels. He indicated that when they initiated this effort in Sacramento they had 600 start-ups express interest – which was surprising to most people. The common theme among these 600 businesses was their lack of ability to find mentors/advisors and funding from accredited investors. This is the same challenge many of the entrepreneurs I meet experience in their own communities – myself included!

    I’ve had 33 start-ups come to me in the last 3 months seeking mentors, educational opportunities, expert service providers and of course – funding! I’m sure this is a challenge in many small to mid-size communities throughout the Nation. Knowing that entrepreneurs and innovators are key to stimulating an economy, Akers’s talk could not have come at a better time for me – or for Oregon-based start-ups.

    Akers provided the following overview for what it takes for a community to rally around their innovators and entrepreneurs:

     

    - Gain an understanding of the local market size of start-up businesses.


    - Put a support mechanism in place for providing mentors, advisors, and educational and funding opportunities (i.e. OEN, Smart-ups, Jefferson Grapevine, Central Oregon Pub Talks).


    - Develop a public awareness campaign to educate the public about how entrepreneurs are the fabric of the region’s economic development. Show how entrepreneurs bring value to your community.


    - Engage your local university – including the tech transfer department. Tie this department in with efforts happening outside the universities.


    - Build a capitol network that is diverse  in its make-up and trained on how to support local new ventures.


    - Engage service providers who support emerging growth-oriented businesses – including, lawyers, accountants, bankers and insurance providers.


    - Celebrate the successes of your local entrepreneurs!


    Smart-ups_Logo.JPGI realize many of these points seem simple; however implementing them simultaneously, gaining support from the appropriate organizations, and keeping the momentum going can be the challenge.

     

    It’s organizations like the Oregon Entrepreneurs Network (based in Portland), the Jefferson Grapevine (based in Medford), Smart-ups (based in Eugene), the Corvallis Entrepreneurs Forum and the Central Oregon Pub-Talk (based in Bend) that foster the growth of entrepreneurs and investors. Please reach out and support these organizations in a way that’s appropriate for you. OEN logo.jpg

     

    Thanks again to Roger Akers for donating his time to visit the Jefferson Grapevine and share his knowledge and experience with smaller communities working to foster their own entrepreneurial efforts. Kudos goes out to Ron Fox, executive director at SOREDI, and his team for hosting Roger at their recent Grapevine event. Excellent program!

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    Take a day off to work "on" your business, no in it. Presented by Crave Business, the Shop Symposium is a day dedicated to building your bottom line, collaborating and coming together as entrepreneurs and business owners to help each other.

     

    You'll get the opportunity to:

    • Connect with peers
    • Recharge, revamp, reinvent
    • Make innovative connections
    • Learn from the experts

     

    Details:

    April 6, 2009

    8:00 am - 4:00 pm

    Portland Center for the Performing Arts

     

    Learn more: http://www.cravebusiness.com/shopsymposium09/portland/

     

    Register: http://www.cravebusiness.com/shopsymposium09/register.html

     

    Questions: 503-226-2377 or  crave @craveportland.com

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    I saw this inspiring video called Did you know? on You Tube. It was produced with research done by Karl Fisch, Scott McLeod, and Jeff Bronman  and contains myriad data points world wide on population, competion and the progression of information technology.

     

    This video, through a series of questions and data points shed some light on some current and upcoming stats that will be hurdles for some and  a boon for others. Knowing entrepreneurs always have a unique vision on challenges, I thought I'd share this video with you. Enjoy!...Who knows, it just might inspire your next great venture.

     

     

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    The evaporation of capital for  small, private companies presents acute danger for entrepreneurs requiring cash  to fund their businesses. As a direct investor in several such companies, I have  seen bank loans, AR lines, and letters of credit reduced, restricted or yanked by banks, even  when the borrowers are current. And I  have seen valuations drop by more than 90% on subsequent equity raises for  companies needing cash which have not yet attained cash flow breakeven. For  those just starting to seek funding, the fear within the angel community  presents an equally chilling picture.  

    The culprit is fear, uncertainty,  and the inability to value assets. After years in which risk was not valued at  all, the value of liquidity and safety is incalculable. Individuals with  investible funds are looking for safety and liquidity, not return. Fund managers  are caught between the need to invest funds they have raised, and their aversion  to risk---especially in earlier stage companies. After all, the lack of credit  and poor valuations has pushed the exit timeframe out indefinitely: not only  will small independent companies struggle in this environment, but they are  likely to be struggling longer. Later-stage investors and hedge funds are able  to earn attractive returns by buying higher quality bonds and other debt  instruments. With modest leverage, these can yield a low-to-mid-teens return.  Their logic is, “Why take risk on an unknown venture at this time, when my  investors will be happy with a safer, lower yield from a well-known  company?”

    I am suggesting to my investees that  the best way to raise cash in these times is through the only tools they  control: cutting expenses and increasing revenue. It is always true that a  dollar you save or earn is a dollar you don’t need to raise, but with lack of  credit availability and horrendous valuations, dollars generated through  operations are even more critical. If you need cash, create it!  This same approach is necessary for early stage companies too: cut down the  expense runway to revenue, and cut the runway from revenue to cash flow  positive. Trade cash conservation for growth, in favor of  survival.

    Many, many pre-cash flow breakeven  companies will not survive in this new environment. They won’t have the  flexibility to adapt their business model, or won’t act quickly enough. Those  which can generate enough cash to survive will create their own  oxygen.

    Amidst the darkness, there will be  success stories---companies which moved quickly and changed their business  model, cost structure, growth ramp or selling costs---to take advantage of the  current conditions. Each of these, I suspect, will have devised successful  strategies for creating and conserving  cash.

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    Hi everyone -

     

    Check out this upcoming event on Thursday, March 19th, at NedSpace.  It should be a fun and interesting gathering, good for perking up entrepreneurs during this dark economic times.  Many thanks to Josh Friedman for sending us this info!

     

    You can register for the event by clicking on the Yahoo Upcoming link at the bottom of the message.

     

    Hope to see you there!

     

    Larry

     

    Join Oregon's entrepreneurs Thursday evening March 19th at 5:00 PM at NedSpace (920 SW Third, between Taylor and Salmon) to explore and answer the question "What Would Your Startup Do With $250,000 in 2009?"

     

    In the last 6 months the economy, access to capital, the cost of talent and the opportunities for innovation have all changed. We think it's time for the relationship between entrepreneurs and the State of Oregon to change, too (the state needs jobs & entrepreneurs need capital!).

     

    Hear stories of successful, local homegrown companies that have either bootstrapped or raised funds and then grown themselves to success.


    Most importantly, though, the goal of this event is to prove to the State of Oregon that there are enough jobs, compelling ideas and entrepreneurs to warrant an immediate investment of $100,000,000 for start ups that want to hire local talent.

     

    We are working to raise a $100M fund that makes small investments in Oregon-based companies who hire Oregon-based employees. Now, in 2009. Not next year or some point in the future. In growing these new startups, we are investing in innovation, creating jobs and building Oregon's brand with innovators and entrepreneurs.

     

    Please be prepared to answer the following questions:

    • Could your company hire $250,000 worth of Oregon-based talent in 2009 to get it to the next level?
    • What could your company achieve during 2009 with a $250,000 investment?
    • How many new jobs would be created if 400 new Oregon startups were funded?
    • How would you like to see $100,000,000 invested in Oregon startups?

     

    NedSpace is proud to host an Oregon entrepreneurial startup event during this unparalleled time of economic chaos and disruption. Be a part of this unparalleled movement!

     

    http://upcoming.yahoo.com/event/2127942

     

    //Contact Information//
    Wayne Embree - wle@refcapllc.com, 503.619.4310

    Josh Friedman - josh@bw-mn.com, 503.705.7975

    Mark Grimes - mark@bw-mn.com, 503.502.0185
    Harvey Mathews - harvey.mathews@sao.org, 503-999-5849

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