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10 Posts tagged with the entrepreneur tag
Mitch Daugherty

We live in the entrepreneurial community and therefore are constantly hearing words like scalability, ROI, competitive advantage, etc., all the while poor people around the world are coming up with great innovations.These people are not concerned with raising venture money or licensing their ideas. They are simply coming up with ideas to help them solve a problem that they face every day.

 

As we attend great OEN events like Angel Oregon, PubTalk and Venture Northwest I encourage you to follow your ideas and dreams, but also at some point realize that not all great ideas need every essential element of what we deem to be the perfect business model. Watch this TED video and see how poverty is not hindering innovation, but rather creating some of the most innovative solutions to everyday problems.

 

http://www.ted.com/talks/anil_gupta_india_s_hidden_hotbeds_of_invention.html

0 Comments Permalink Tags: community, marketing, business, entrepreneur, network, technology, scalable
Mitch Daugherty

Here is a great post by OEN member Gerry Langeler from OVP that answers that very question.

http://www.ovp.com/blog/entrepreneurship/what-do-vcs-do-all-day.html

0 Comments Permalink Tags: entrepreneur, investment, venture, fundraising, capital, investor
Mitch Daugherty

Democratic candidates for Governor Bill Bradbury and John Kitzhaber attended a forum Wednesday evening and answered questions from a panel representing some of the key business organizations in the state: Oregon Entrepreneurs Network, Oregon Business Association, Portland Business Alliance and the Software Association of Oregon.

 

The event looked to address some of the main concerns that business owners and entrepreneurs currently face during these economic times like job creation and tax policy, but also  some of the trouble spots for the state budget like education and PERS. Over the 40 or so minutes of Q&A, the policy wonk Kitzhaber who has worked on eight state budgets as Governor and the engaging Bradbury who focused on supporting small business as Secretary of State answered a wide range of questions, and gave us a snapshot of how they are going to approach their general election campaigns.
The first set of questions focused on taxes and PERS, with an emphasis on the recently passed measures 66 and 67.  Bradbury stated he was pleased that the measures passed in order to fund critical budget holes especially in regards to education, but would have worked with the legislature to craft the measures to be temporary rather than permanent. Kitzhaber said he would have tried to keep them off the ballot if he was Governor and would have brought back a 10% sunsetted income tax surcharge like they did during the recession in the early 80's to address budget shortfalls. In relations to PERS, Kitzhaber showed his support for the PERS system and the employees who have earned that compensation, but noted that it is investment based system and as a result of the economic times in 2009, lost around 25% of its value.  Bradbury stressed patience with PERS and asked to give the actions the legislature has made to address the problems a chance to really take hold.
The next question focused on how each candidate will address the projected state budget shortfalls without receiving federal stimulus money as the state did this year. Bradbury held off on giving specific budget details, as he wants to wait 6-9 months to get a better idea as to how the projections in this year's budget are shaping up. He did emphasize economic development/job creation, education and taking care of the state's most vulnerable citizens as budget priorities. Bradbury mentioned a few ways to potentially raise revenue; reform the kicker and establish a rainy day fund, enforce the current tax law and audit the state government. Kitzhaber reemphasized that the gap is to big to cut or tax our way out of. He focused on redesign many of the government systems in light of the current economic reality and look at this not as a 2 year budget/revenue model, but rather how do we envision Oregon's economy many years down the road. Therefore, Kitzhaber thinks that a reevaluation of the tax code to make sure it is fair and stable for future economic development is a must, while also prioritizing program cuts.
Oregon has been seen as a leader in the clean tech industry, but has recently taken some steps back and this questioned focused on how do we regain that strong foothold. Kitzhaber addressed the need to deal with front end financing in order to create jobs and through weatherization and retrofitting projects throughout the state. He also mentioned that Oregon has all the pieces in place to remain one of the clean tech leaders, but the failure for these parts to function as one entity acts to slow this growth down.Bradbury said we currently have the tools like the Business Energy Tax Credit (BETC) that can help spur growth in the clean tech sector through energy efficiency and transportation projects and also the possibility of creating a Green Energy Mortgage program to buy down mortgages and reinvest the difference in energy efficient projects.
Both candidates realize that access to capital is one of the biggest problems facing business creation and growth in Oregon right now. Kitzhaber makes note that there is no silver bullet and that there is currently a community bank crisis, but we can look at the current tax code to see of there are ways to expand it to incentivize the funding of earl stage businesses. he also discussed the possibility of investing some of the state's pension funds into seed stage companies. Bradbury thinks that there should be a focus on small business centers that encourage and support people as they are starting up a business and as a result helps improve the overall business climate. Bradbury also focused on the creation of a Bank of Oregon, which will use state treasury funds to partner with community banks to fund early stage companies.
Both candidates agree that trade is a very important aspect to economic growth. Bradbury and Kitzhaber believe that the Governor should be the main cheerleader for the state and needs to be attending all trade meetings in person.
How to address the education system and primarily higher education is a big ticket issue and was addressed by both candidates. Kitzhaber emphasized that any talks about higher education need include community colleges since it is estimated that 60% of Oregonians will not need a 4 year degree to thrive in the new economy. He also mentions that the government needs some operations flexibility for funding the state universities. Bradbury started off by emphasizing that Oregon needs to address how we adequately fund our higher education to lower the costs of tuition. Bradbury also made a good point that only 6% of the total student costs at our public universities is paid for by the state general fund so can we really call them public universities?
The forum ended on a lighter note by the moderator asking each candidate what was the last significant decision they changed their mind on. Bradbury mentioned that his decision to ask Kitzhaber a specific question at a debate was one that he changed his mind on. Kitzhaber had two, the first was the decision on which tie to wear and the second was the decision not to walk his 6th grade son to the door of a school dance.
The forum provided a glimpse into each candidates big picture ideas, but the general campaign will allow us to delve into the policy details that most voters will ultimately base their election day choice around.
You can dig a bit deeper into their platforms here:
John Kitzhaber - www.johnkitzhaber.com
0 Comments Permalink Tags: community, business, entrepreneur, oregon, education, capital, bradbury, taxes, governor, democratic, kitzhaber
Adam Ware

On Monday night I had the pleasure of speaking on a panel with John Friess of Journey Gym and Ryan Buchanan of eROI, to a group of students from the entrepreneurship program at University of Portland, Willamette University, and Portland State University. The subject was what it is like to work at a startup; what is the environment like, how to get noticed and hired by entrepreneurs, and what to expect from the positions.

 

I consider Ryan and John to be a bit more proven than myself at getting to exit-potential status, so it was great to be sitting with them. I do bring quite a bit of startup employee experience to the table, being one of the first few employees hired at local startups lucy activewear, EducatorZapp, and RYZ. So hopefully I was able to convey some of my experience with those organizations to the students, along side my experiences actually running SwellPath.

 

Justin Albano, who works with OEN on their academic membership initiatives led the discussion with some pre-planned questions. These gave each of us on the panel a chance to describe our businesses and some of our basic hiring practices for interns and entry level employees. Students and faculty from U of P asked questions when they wanted more information, or more specific details.

 

Based on the feedback that came out of the event, I think the students got a great realistic perspective of what life is like for startup employees, and especially for entrepreneurs themselves. Hopefully no one was discouraged by the acknowledgement that being successful (and even a failure sometimes) takes long hours, and that entreprenuership is metaphorically "like a disease" for most entrepreneurs. All of the students I spoke with were engaging and passionate about their personal business ideas, and/or getting involved with a startup early in their careers.

 

The event concluded with a walk over to Seven Planet, and a tour by partner/operator DJ Widmer, an alumni of the UofP program. I enjoyed seeing the store for the first time and learning more about the business, which is very interesting.

 

It was great to be part of this event, and to see how OEN is reaching out to the local academic community and helping connect students with potential future employers. I think this is one aspect of OEN that not all members are fully aware of, and the long-term benefits it has on the entrepreneur, business, and academic community in Oregon.

 

The next event OEN has planned in this area involves connecting students interested in intenrning with startups, with managers and entrepreneurs who may have limited experience hiring interns. There will be workshops for both parties individually, then a chance for both groups to connect in a job fair type fashion. SwellPath will definitely be there. If you're interested, reach out to OEN and let them know.

0 Comments Permalink Tags: community, entrepreneur, startup, entrepreneurs, oregon, education, employment

The financial experts agree: the business plan is the most crucial element of a loan application. Regardless of what type of investor you approach — a traditional bank lender, venture capitalist, angel, or any of the many others — before they even consider your loan request, they will want to review your business plan. In this article from Entrepreneurial Edge Magazine, Tom Canfield, president of the Enterprise Corporation of Pittsburgh, says these ten questions should be answered in your business plan.

 

 

   

0 Comments Permalink Tags: community, plan, business, entrepreneur, startup, investment, mentoring, network, mentor, education, fundraising, technology, coaching, investor, referral, scalable

Shrewd, reliable advice takes on more importance when your company reaches a development crisis. An outside board of directors can bring you experience, expertise and guidance to see you through a fiscal emergency or a growth surge.

 

Establishing and Working With Your Board of Directors    
0 Comments Permalink Tags: community, business, entrepreneur, investment, mentoring, network, mentor, education, fundraising, technology, coaching, investor, referral, scalable, start-up

Renovate Your Elevator Pitch

Posted by OEN ORG Sep 4, 2009
Renovate Your Elevator Pitch    
0 Comments Permalink Tags: community, oen, angel, investing, business, entrepreneur, entrepreneurs, investment, venture, oregon, northwest, pubtalk, mentoring, network, mentor, education, fundraising, capital, technology, coaching, investor, referral, scalable, start-up
I've Been Accused Of Patent Infringement. Now What?            

1 Comments Permalink Tags: community, angel, investing, business, entrepreneur, investment, venture, oregon, northwest, pubtalk, mentoring, network, mentor, ip, education, fundraising, capital, technology, coaching, investor, referral, scalable, start-up, intellectual, property
Modem Media Adapts to a Merger and Acquisition            
0 Comments Permalink Tags: community, oen, angel, investing, business, entrepreneur, entrepreneurs, investment, venture, oregon, northwest, pubtalk, mentoring, network, mentor, education, fundraising, capital, technology, coaching, investor, referral, scalable, start-up

An April 1st Discussion on How to Establish a Successful Business

 

Roulette.jpg

photo courtesy of Ugandan Insomniac

 

Starting a business is incredibly tough.  At times, it seems the whole world is conspired against you. Lawyer fees, incorporation fees, commercial space, insurance, etc. can create a large hole for new businesses to crawl out from.

 

You read about Bill Gates starting Microsoft in his garage or Chad and Steve founding YouTube at a San Franciso dinner party, but articles on their success so often neglect to emphasize the incredibly large sums of money these folks were privy to (Gates through his family & the YouTube boys through PayPal's sale), but few entrepreneurs start businesses cash rich.  For most of us, we are perennial beggars seeking the capital to get off the ground.

 

But, all is not lost.

 

Building a small niche marketing company in Las Vegas was incredibly difficult.  For the most part, I was dealing with competition that was much better funded, better connected, and more motivated.  I had no desire to stay in Vegas - only to amass as much cash and experience as possible while I was there.  As a result, I devised a time-tested method to build a business on minimal capital: gamble with company money.

 

Varying estimates put the failure rate of businesses at roughly 70%, typically only 1 in 3 succeed - essentially, the same odds as playing video poker at Sassy's.  On the other hand, craps offers 48% odds of winning while providing opportunity to hit the long shot.  Simple math dictates that gambling is a safer bet than starting a business, but anybody (18+ or with a fake ID) can gamble.

 

The secret to success is combining the supreme risk of starting a business with the relatively high risk of gambling. Worried about paying taxes at the end of the year or your employees at the end of the month?  Worry no more.  Let the tables dictate whether the government receives its share or your employees get paid.  Think you need a new laptop or conference room projector?  Nothing a good hand of blackjack can't solve.

 

This sure-fire method is simple to implement.  For example, at my marketing company, I would get paid directly from my clients each Wednesday.  Fortunately, my clients were located in the casinos, and so I did not have to make an extra trip.  Caesar's typically held a poker tournament Wednesday nights, and so I would buy in with a fraction of last week's revenue - recognizing the opportunity to WIN BIG and pay my employee quarterly bonuses.  After poker, the lucky craps tables are a short walk across the street to the Flamingo.  Exchange some company revenue for chips, and I was off to better office space and a website redesign.

 

Simple.

 

The best part of the Bet on Black Method is the free drinks.  How many marketing strategies or investor presentations come with an endless supply of Seven & Sevens?  When was the last time you were comped for a free breakfast after meeting with a vendor or your CPA?

 

Fortunately, for Oregon Startups, the Bet on Black Method is not limited to Las Vegas or Atlantic City.  Thanks to Spirt Mountain and Chinook Winds, Oregon entrepreneurs can implement this method with relative ease.  Good luck in all your ventures. and don't hesitate to bet it all on red if you are feeling it.

0 Comments Permalink Tags: marketing, angel_investment, entrepreneur, startup

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