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Creating a path in our lives doesn’t always come as a choice. Some of us find ourselves drifting into a way of life. Regardless, we are all faced with the day when we evaluate what we we really want in life. Recently I spoke at a conference, and I couldn’t help but notice how much we trend every bit of life. We validated past trends and looked at product-based evaluations, and how a manufacture can compete in a free trade world with essentially no borders. I was amazed at how they created categories. There was one chart that presented us with a snapshot of where an individual fit in as a business.
The lending institutions create models that group businesses into specific industries. Timing is very important, and bank experts will trend the economy and lend money based on what industry is on the up swing. This is why as an entrepreneur, it is important to interview many banks- you would be surprised how different each bank’s lending patterns can be.
But what was really interesting to me was the the topic of “competition”. The first thing they determined in the conference was that competition drives prices down, referring to them as “pricing wars”. The other thing that was addressed was service- the fact that people place more value on having a positive experience than they do on saving a dollar. And what I found interesting was the look on everyone’s faces as they listened to how tough it was out there from all areas- commodities, goods, service, and experience.
The reality is, if you combine a great product with an incredible experience, the price really doesn’t matter to the consumer. But because banks look at trends, the business owner gets pulled into these price wars, driving their quality and service down as they try to compete within their industry. As a business owner, having the ability to design a process that validates your industry trends is critical (but also very frustrating!).
Find out what you want to do in life and then determine what you are willing to go through in order to get it. In recent years, the rules in business have changed so much that there almost aren’t any. Years ago, an entrepreneur had to have a business plan that took months to design (and it actually helped them understand their business better), but today, lending institutions will let you know what your business is missing based on their model, not yours. Today, having a vision, validating it, and going after it is far more important than designing the grandiose business plan.
Things change fast- you have to spend more time staying ahead of the curve, rather than trying to fit into it. You never see Rolex or Rolls Royce having a blow-out sale because they are the trendsetters, and with our technology today, you can be one as well. Make sure you validate what you are doing; look at it from the outside, and if you are still excited about it, then go get it! Make the experience the value in your day- it can open a whole new world, one that you never knew existed.
And don’t forget to call your mother!
Menaklukkan Momok Bernama "Pitching"
KOMPAS.com - Selama ini pitching dianggap sebagai mimpi buruk bagi para pendiri start up. Mimpi buruk karena investor dalam pitching terlihat sangat idealis sehingga terkesan “kejam”. Padahal, para pendiri start up hanya perlu sedikit realistis untuk bisa memahami keinginan investor. Bagaiman menghadapinya?
I mentioned earlier that school has got me to a position that I can make educated decisions, like starting a business. The week after we finished the business plan I came across a website advertising ‘”local small business help” looked through the site and they offer free consultation to entrepreneurs and working professionals. I decided to give them a try and booked a date for a free consultation. Probably the best thing I could have done!
Starting a New Venture
My friend Denise is so busy organizing a new non-profit organization that aims to help out of school youth. She has always been the helpful and responsible type so I was not surprise when I learned about her new venture. She is now busy studying and planning nonprofit business plan template that they will present to various companies to ask for their support and financial assistance. Well, I am so proud of Denise because I know that her intentions are good and she truly wants to help these children to go back to school.
Fiscal Sources for Beginning Restaurateurs
Putting up a restaurant will require you to have the right resources. You need to have the financial capacity to fund the possible expenses. You can either take out money from your own pocket or you can borrow from banks or lending companies.
When you have your own money, you will have fewer things to think about. When you have to borrow money from another institution, you need to comply with the requirements. What you need will be your identification, data for your credit standing, and your business plan. The most vital is the plan that you are going to present. You should carefully start with a restaurant business plan template that enumerates all the important points that is ideally seen in a well crafted business plan. After coming up with such items, you can now hope that you find the right finance source for your business.
Top 10 Attributes Of Successful Strategic Plans
For all of the attention and focus placed on strategic planning and change initiatives, it’s hard to imagine that roughly 70 percent of strategic plans fail and 73 percent of change initiatives fall short of producing any meaningful or lasting change. Troubled by these figures, Vistage Chairs (former executives turned business mentors) compared notes on initiatives that have succeeded and, sourcing some renowned scholars.
UCCS launches national business plan contest
Got a business plan with a sports focus? Well, here’s your chance to find an investor. UCCS is launching a national contest for college students, inviting them to design and submit their plans for a sports, health and outdoor-related business. The prize is $35,000 in prize money, including $20,000 to the first-place winner. The recent Operation 6035 economic development planning effort identified sports, health and wellness as a target industry, while the Colorado Springs Regional Economic Development Corp. included that industry as part of its current five-year strategic plan. The UCCS College of Business Center for Entrepreneurship will manage the contest, which has a deadline of Sept. 15. Visit http://epiic.uccs.edu/officialRules for information about the competition and rules.
"Kick Start Your Startup" Workshop
SVForum’s “Kick Start Your Startup” Workshop
Tuesday, September 27, 2011
Palo Alto, CA
This workshop is for new serious startup entrepreneurs or entrepreneurs who need a refresher course on the fundamentals of developing their business plan and/or wanting to grow their company, so that they can maximize their chances of attracting an outside investor for the first time.
During this workshop, you will learn how to organize your financials, craft a due-diligence legal framework, asses your market opportunity and perfect your pitch before running the funding gauntlet. A panel of successful entrepreneurs will share their experiences, challenges and insights into building and securing funding for their ventures.
Please come with your 60 second pitch and your chance to be one of three selected to pitch to the panel of VCs at the end of the day! This workshop is not for the seasoned entrepreneur.
Quotes from Past Attendees
“Attending the SVForum Startup Workshop was instrumental for us, providing several key introductions and ultimately a new addition to our advisory board.” Ryan Kennedy, Conga
Registration and Continental Breakfast
Crafting a Fundable Financial Roadmap
As an entrepreneur, steering your startup on the financial path to success needs an effective financial roadmap and a thorough understanding of how it will unfold over the next five years. In this presentation, Anthony Nassar, Founder and Principal, Venture Momentum, will share a systematic methodology for developing a robust financial model.
Crafting a Due Diligence-Ready Legal Framework
Curtis Mo, DLA Piper will help entrepreneurs avoid common mistakes they make when managing the legal aspects of their startup. He will share best practices in building and maintaining a due diligence-ready legal framework.
Assessing and Sizing Your Market Opportunity
One of the top reasons for a new product failure is inadequate market analysis, yet most entrepreneurs bypass this step.
Steve Tennant, Tennant Consulting.
Working Lunch - Pitching to the Group
15 one-minute elevator pitches presented, with the top 3 chosen to pitch to the final panel at 4:00pm.
Developing a Compelling Pitch: 13 Slides that will Hook Investors
Nathan Gold, Founder of The Demo Coach will lead this interactive session on the “infamous”13 slide presentation.
Successful entrepreneurs will share their experiences, challenges and insights into building and securing funding for their ventures and engage in an interactive Q&A session.
Panelists include K.V. Rao, Zuora
Arlene Chan, Moss Adams
Investors Panel : The Voice of Experience
Early stage investors will share their experiences, challenges and insights into building and securing funding. They will also listen to pitches and engage in an interactive Q&A session.
Panelists include John McIntrye, Citrix Startup Accelerator, Rick Yang, NEA.
Herman A. White, Jr., Technology Credit Union
Sponsored by Technology Credit Union
Location: DLA Piper, 2000 University Avenue, Palo Alto, CA
Online Registration: $150 SVForum Members; $200 Non-Members
Wine Reception Sponsor: