The Business Incubator Center

This BLOG has moved.

2011-04-04T12:14:00.000-06:00

Please find the Business Incubator Center blog at:
http://www.gjincubator.org/category/business-incubator-blog/

Taking Your Invention to Market

2011-01-13T09:55:00.000-07:00

Ideas come from many sources: nature, personal interactions, problems — even your morning shower. Some ideas remain in the imagination, but at times they are the spark that ignites a new business. Many entrepreneurs have great ideas for how to solve problems and improve the world. The challenge is how to take these ideas from a sketch to a successful product launch. How to take your invention to market? Here’s a brief outline of some of the steps.

• Is this idea really a business? Great innovations solve problems in the market. Is your invention doing that? Sure, it’s cool to invent something nifty. My grandfather invented a way to turn tin cans into highly serviceable soup ladles. Unfortunately for him, the market is not clamoring for tin-can soup ladles. Seth Anderson, inventor of Loki’s patented jacket design, says, “I would make sure your whiz-bang idea solves a real problem and is as well thought out as possible for the first product.” If your idea will be easy/low-cost to manufacture and provides a significant advantage over what exists on the market today, then you may just have hit on a business.

• Is this the market niche with the greatest potential? In the early 1970s, Art Fry needed a better bookmark for his choir group. He used some adhesive created by a colleague at 3M Corporation, Dr. Spencer Silver, and applied it along the edge of a piece of paper to make a sticky bookmark. Of course Post-It Notes turned out to be a lot more than a placeholder for church hymnals. Ideas evolve as research is performed. An inventor will need to take time to identify the optimal market niche and then refine the product to best serve that niche.

• Are you ready for the journey? Art Fry struggled within the 3M Corporation for years to get his concept to market, due to technical problems and management's doubts about the product's salability. More important than his creativity and technical savvy was his tenacity. Eventually he got 3M to complete the market research and consumer sampling necessary to find Post-It’s market niche. Are you ready to take this journey? What are your strengths as a product developer? What are your weaknesses? Knowing where you are strong and where you are going to need support it a crucial part of the process.

• Use protection when necessary. Patenting an invention can be a critical step in developing a market niche —it might be nice to have a few years without competition to build sales. But not always. It takes years to get a patent, and if the marketplace demand won’t exist in a few years, then there’s no value to a patent. If a design is easily changed to perform the same function, then a patent may be worthless. Patents can be critical to success, but they are not a panacea.
    If protecting your intellectual property creates value in the market, Seth Anderson suggests, “Do a thorough patent search yourself on the website www.uspto.gov to make sure that your idea has not already been patented or is patent-pending.” Then find a good patent attorney. The value in the patent is going to be created in how broadly it is scoped. If you merely describe a prototype’s construction, then your competition can design a device with a similar function but an alternative construction. If you can patent the whole concept (a broad scope), the patent is worth more because it is more difficult to “design around.” You may need to spend some big bucks to get an attorney proficient in creating value in your industry, but it will be worth it. Matt Mayer of Leap Frogg LLC says, “Without the benefit of a well-respected law firm with deep knowledge of the medical device arena, we would not have generated the value that we have in our patented medical device.”
    If you take the patent route, be cautious in talking about your idea. In patent law, the monument you “disclose” your invention to a third party without a non-disclosure agreement, you have a one-year time frame to file your patent application.

• Take a reality check. Late-night television commercials abound with sweet-sounding promises of promotion firms. They claim that inventors only need to call a toll-free number, sit back, and watch the checks roll in. Unscrupulous promoters will push inventors to patent their ideas and then make false and exaggerated claims about the market potential of the invention. The reality is that few inventions ever make it to the marketplace, and getting a patent is not always a path to commercial success. If a firm seems enthusiastic about the market potential of your idea and wants to charge you huge fees in advance, take your business elsewhere.

• Take it to market. There are many ways to do this. You can build an entirely new company around your invention or license your invention to an existing company. Each holds significant risks and rewards.
    Building a new company could potentially make you rich, but you need the skills, experience, and financial resources to handle manufacturing, distribution, and marketing. If the big guys in your industry are already fighting hard for space on store shelves, you’ll have to be ready to operate on par with your larger competitors.
    When you license your invention to an existing firm, that company pays you a small percentage of future sales so that they can make and sell your product. This can be an effective route if the partner company has manufacturing and distribution resources in place to make your invention successful. But sometimes it’s hard for inventors without a track record of proven sales to make inroads at big companies. And once you get in the door, there’s still a risk that the licensor will not deliver on the sales potential.

Negotiating your way from an idea to a successful product can be daunting, and coming up with the idea is really only about 5 percent of the process. However, you inventors are ingenious individuals, capable of rising to meet the demands of challenging situations. Innovation is the spark of our new economy, so let’s get those inventions to market.

______________________________________________________________

The Western Slope Office of Technology Transfer at the Business Incubator supports the commercialization of innovation through a wide array of free or low-cost resources. For more information, go to gjincubator.org.

_______________________________________________________________

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - December 2010

8 Rules for Good Customer Service

2011-01-04T11:09:00.000-07:00

1.) Answer your phone.
Get call forwarding. Or an answering service. Hire staff if you need to.
But make sure that a live person is picking up the phone when someone calls your business.

2.) Don't make promises unless you WILL keep them.
Reliability is one of the keys to any good relationship, and good customer service is no exception. If you say, "Your new bedroom furniture will be delivered on Tuesday", make sure it is delivered on Tuesday. Otherwise, don't say it. The same rule applies to client appointments, deadlines, etc. Think before you give any promise - because nothing annoys customers more than a broken one.

3.) Listen to your customers.
Is there anything more exasperating than telling someone what you want or what your problem is and then discovering that that person hasn't been paying attention and needs to have it explained again? From a customer's point of view, very unlikely. Let your customer talk and show them that you are listening by making the appropriate responses, such as suggesting how to solve the problem.

4.) Deal with complaints.
No one likes hearing complaints, and many of us have developed a reflex shrug, saying, "You can't please all the people all of the time". Maybe not, but if you give the complaint your attention, you may be able to please this one person this one time - and position your business to reap the benefits of good customer service.

5.) Be helpful - even if there's no immediate profit in it.
The other day I popped into a local watch shop because I had lost the small piece that clips the pieces of my watch band together. When I explained the problem, the proprietor said that he thought he might have one lying around. He found it, attached it to my watch band - and charged me nothing! Where do you think I'll go when I need a new watch band or even a new watch? And how many people do you think I've told this story to?

6.) Train your staff to ALWAYS be helpful, courteous, and knowledgeable.
Do it yourself or hire someone to train them. Talk to them about good customer service and what it is (and isn't) regularly. Most importantly, give every member of your staff enough information and power to make those small customer-pleasing decisions, so he never has to say, "I don't know, but so-and-so will be back at..."

7.) Take the extra step.
For instance, if someone walks into your store and asks you to help them find something, don't just say, "It's in Aisle 3." Lead the customer to the item. Better yet, wait and see if he has questions about it, or further needs. Whatever the extra step may be, if you want to provide good customer service, take it. They may not say so to you, but people notice when people make an extra effort and will tell other people.

8.) Throw in something extra.
Whether it's a coupon for a future discount, additional information on how to use the product, or a genuine smile, people love to get more than they thought they were getting. And don't think that a gesture has to be large to be effective. The local art framer that we use attaches a package of picture hangers to every picture he frames. A small thing, but so appreciated.

If your business applies these eight simple rules consistently, they will become known for great customer service. And the best part? The irony of great customer service is that over time it will bring in more customers than promotions and price slashing ever did!

Down by the River...

2010-12-03T22:23:00.007-07:00

Wouldn’t we all like to see more people creating and growing local businesses, thus creating more jobs, investing more money in our community, and increasing the health and diversity of our Grand Valley economy? And don’t we all know that it takes hard work, smarts, and some luck to start a successful business? Well, it takes even more of the same to grow a successful business. And there is no magic “easy” button to push and make the process simple. The vast majority of businesses fail in their first five years, and it is rarely out of a lack of effort.

Still, there are steps to take, things to consider, and practical lessons to learn that can benefit the development of entrepreneurial companies, helping them to survive and grow during the vulnerable start-up period. The sole purpose of certain organizations is to guide businesses through this process; these are business incubators. They offer specific support services and resources tailored to help companies avoid common pitfalls, learn important skills, and achieve a necessary level of preparation so that their smart ideas, hard work, and a little good luck turn into great businesses. And we’re lucky to have a great one right here in our community.

Business incubators turn an 80 percent failure rate for new businesses into an 80 percent success rate. Every venture will have its own path, but in general there are critical steps. If they’re missed, disaster can follow. It’s important to have a strategic plan for how you want to grow the business (a business plan). It’s essential to have a solid understanding of the market in which you plan to operate and a good grasp in how cash flows. New ventures need funding to get up and running and a way to keep costs down and overhead low. It is in these areas that business incubators focus their support.

Incubation as an industry has existed since 1959, and today there are an estimated 7,000 incubators worldwide. Incubators come in many different styles, shapes, and sizes. They can focus on specific industries from the arts to software development to manufacturing. Here in Colorado there is a clean-tech incubator, a homeland security incubator, a bioscience incubator, and two space incubators (focused on a new frontier of commercializing space technology). There are rural program, urban programs, accelerators, and boot camps. Some incubators are impressive state-of-the-art facilities like the LEED Gold building just completed for the Rocky Mountain Innovation Initiative in Fort Collins. Others, like the one here in Grand Junction, utilize existing community assets (like older buildings) with a less glamorous appearance but that offer a practical, flexible space. Here in the Grand Valley, the Business Incubator Center is “mixed-use,” meaning that it serves all businesses and industries from manufacturing to construction to food production to web development. The Incubator Center is an award-winning, enduring example of one of the best sustainable programs in the country. And it is all happening down by the river, behind the Orchard Mesa Cemetery, in a former Department of Energy compound.

Creating business success takes a lot more than just an offer of low-cost space and a few classes. The heart of a true business-incubation program is the services it provides to its clients: networking with other entrepreneurs and with business leaders; help with business, strategic, and marketing plans; access to capital; and development of the skills needed to make a business successful. At the Incubator Center you can sit down, one on one, with smart people who will help you to draft budgets, projections, and a marketing plan. From funding through the Business Loan Fund to hourly rentals in the commercial kitchen, there are a lot of ways that the Incubator can be of assistance.

The Business Incubator Center is focused on results that have a positive influence on economic growth in the region. Over the past 23 years, it has supported the launch of more than 240 companies, thus creating nearly 10,000 jobs and generating more than $150 million in revenue. The Grand Valley community takes pride in its independence and ability to create its own prosperity. In these times of economic uncertainty, it’s critical to seize the opportunities at hand and grow our own businesses. This is exactly what is going on at the Business Incubator Center.

To learn more or to set up an appointment to review your business goals, go to www.gjincubator.org.

______________________________________________________________________________

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - November 2010

For more information on business incubation, visit:
National Business Incubation Association at www.nbia.org and
Colorado Business Incubation Association at www.coloradobusinessincubation.org.

The Making of a Great Website

2010-11-01T22:14:00.000-06:00

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - October 2010

www.gjep.org

Breaking news! The Grand Junction Economic Partnership was recognized in September as the International Economic Development Council’s 2010 Website of the Year, in the general purpose website category for a community of population 25,000-150,000. It is a tremendous honor, of course, and if you’ve visited www.gjep.org, this award will come as no surprise. The site quickly and powerfully conveys a sense of the high quality of life and vibrant business community that make this Grand Valley a wonderful place to live — and to grow a business.

If I had my own personal FAQS, near the top would be: What goes into a great website? It’s almost impossible for a business to operate effectively without a website — and yet so many feel that theirs has not lived up to expectations. Because GJEP’s website is successful enough to win an international award, I sat down with Kelly Marlin to find out what went into creating it. She’s GJEP’s business development manager. The process that Kelly laid out makes an excellent road map for any business looking to create or redesign their website.

Before the 2009-2010 revamp, the GJEP website had suffered the fate that so many sites fall victim to: It had become dull and dry and so loaded with information that the main point of the site had been lost. There were interesting articles, loads of demographic data, and community statistics, but the site’s most important job is to represent the Grand Valley as a fabulous community. It wasn’t doing that.

Kelly started her mission with several weeks of research on other websites and other communities to see who was doing what and what looked good. She started with basic Google searches for similar organizations and then refined the search to similar communities (i.e., the competition) and other economic development entities in the state. She ended up focusing on organizations and sites that have received awards for their success. She developed a list of elements that seemed to function optimally, including the way sites were structured, components that made sites visually interesting, and things that made the site look up-to-date. GJEP knows that a good economic development agency knows what is going on in the local business community, and the website should express that understanding. People want to feel comfortable spending time browsing the site, so colors and images must invite a pleasant experience.

With a complete marketing and communications plan in hand, Kelly started the development process with an RFP (request for proposal) to the web development community. Choosing among the responses was made even more difficult because the best proposal came from a firm outside of our Grand Valley community. Denver-based Atlas Advertising was selected because of their rich experience working specifically with economic development agencies.

In the first step of the design process, Ann Driggers (GJEP’s President and CEO), Kelly, and members of the Atlas creative team sat down and put all the elements they wanted to include on sticky notes. On a wall in the GJEP conference room, they developed a site map, arranging the notes into a structure of lists and tabs. They stayed focused on the important message and prioritized content appropriately. This kind of simple, yet detailed, advance planning is critical — and anyone can do it. Decide what content you want on your site, then create a map for how you want it to be laid out. Putting sticky notes on a wall is a simple and effective planning process.

The next step was up to the web developers. They built the site, made it visually interesting, created a data center for the community, and added tools to keep the site current and relevant to our community. The early drafts looked fabulous, and the GJEP team was thrilled. A social media strategy that included blogs and twitter feeds made the site connected and up to date.

Kelly writes the content for the site, aided by templates and guidelines supplied by Atlas that help ensure the message is well suited for online viewing. Each section is brief enough that readers don’t have to scroll down. Text is easy to read and search-engine optimized. Much of what GJEP wanted to say about the community could not be expressed in words, so pictures are used. Almost every page includes images, each personalized to our community. There’s nothing wrong with representing the Grand Valley with Mount Garfield and the beautiful desert cliffs. It’s the usual go-to strategy. The problem with this approach for GJEP is that there are no people, no activity, and no vital business community represented in a landscape. Kelly worked with Anne Keller and several other local photographers to come up with images that represent the life that makes the Valley a great place to do business. What was chosen: pictures of everything from mountain biking and skiing to manufacturing and business enterprises.

Once the site was live, some of the most important work began. A website can be a living, breathing organism. It’s critical to understand how people are interacting with it. Kelly monitors the Google Analytics weekly and adjusts the content to ensure that the important messages are in the most popular places. Kelly has found, for example, that most people will click on either the top or the bottom of a list, but not much in the middle. The most clicked-on tab is the leftmost tab, no matter what is there. Therefore, the most important messages are in the top of the list on the far left tab.

GJEP wants people to spend enough time on the website that they feel comfortable enough to call GJEP to learn more about our community. They have created a website that does exactly that through a highly effective process of research, preparation, strategic structure, and effective content. We can all follow that road map to success.

It’s Start-up Time

2010-09-27T13:15:00.003-06:00

What we need right now are more start-ups. This downturn has every business grappling with how to thrive in an ever more global, competitive business arena. If you have a good idea that will get the creaking wheels of our economy oiled and rolling, now is your time to shine.

It’s exciting to see the Grand Valley showing some signs of life. This spring, Western Slope Economic Development agencies interviewed 82 businesses as part of an ongoing program called “Listening to Business.” Results were very positive, with 65 percent of the participating businesses expressing their intention to expand in 2010. These businesses also reported plans to create 681 new jobs and contemplate nearly $1 billion in capital investment. In addition, sales tax receipts, a loose reflection of consumer confidence, are finally flattening out in Grand Junction and rising in Fruita and Palisade. Mesa County Workforce Center reported 18 percent more available positions in July. Good news, right? Well, the counterpoint to reports of business growth is that unemployment remains high. Even with signs of business growth, jobs are hard to come by. This is a “jobless recovery.”

The phrase “jobless recovery” refers to the fact that this downturn has driven businesses to get very efficient and focused on the bottom line. Cash is tight, so they’ve gotten better at generating it. As a result, businesses have found ways to thrive without rehiring all the people they laid off last year.

On July 25, The New York Times reported that the 175 companies in the Standard & Poor's 500-stock index issuing second-quarter reports had revenue growth of 6.9 percent while increasing profits by a whopping 42.3 percent That means that profits are increasing seven times faster than revenue. For example, Harley-Davidson’s profits have tripled over the last year, despite the fact that the motorcycle industry has been in steady decline for three years. Do you think Harley did this by raising their prices? No, they cut costs. In most cases, businesses have gotten very lean on payroll. And why shouldn’t they? If firms can make great products very efficiently, that’s job security for those who are employed and health and prosperity for the business.

People without jobs need a solution, and today it doesn’t make sense to wait for a solution to come along. With challenges, opportunity is created. Young companies (age five years or younger) accounted for 64 percent of gross U.S. job creation. It’s a good time to start a new business.

Are we seeing more start-ups here in the Grand Valley? The Colorado Secretary of State, Bernie Buescher, reports that since October of 2009 the number of new entities created (forming a legal entity being one of the first steps to start a business) has increased every quarter and by as much at 17 percent over the previous year. We also see this trend at the Business Incubator Center. The Incubator tracks hours spent working one-on-one with clients. In 2010, we are 64 percent busier than we were in 2009. We have spent almost as many hours with clients in the first six months of 2010 as we did in all of 2006. Yes, people in the Grand Valley are starting new businesses.

Start-ups are small, nimble, and focused on filling a need in the market, not just offering a skill set. For example, if you’re a bookkeeper and have been laid off, it’s hard to find a comparable position. Needs have changed, and your former position may no longer be available. The need for high-quality, skilled people remains, but the pain points have shifted. There are always creative ways to use valuable skills. For example, instead of looking for a job as a bookkeeper, you could start a company that provides virtual CFO services, helps companies to go paperless, or keeps accounts receivable within 45 days by maintaining positive relationships with customers. These are the same skills that were valuable in the old economy, just creatively repositioned to serve the needs of a new one.

Several positive trends are generating opportunities in the local market. The travel industry is in recovery. The Grand Junction Visitors and Convention Bureau reports that their visitor numbers are back up to 2007 levels and that lodging tax collection is on the rise. An increase in travel to the Western Slope has spurred growth in many local recreation businesses. Some types that are growing include outerwear, bicycle components, backpacks, and equestrian apparel. Another hot spot is in health care. Our housing is affordable again, making our wonderful weather, plentiful golf courses, and world-class hospitals an attractive retirement choice. Retirees translate into opportunities for health-care innovations like expanded medical offices, niche services, integrative medicine, wellness programs, and new medical devices — along with leisure time options. Lastly, there is a trend to return to traditional sales techniques. Gone are the days when just answering the phone qualified as good customer service. We have returned to a focus on developing a relationship with the customer. Sales staffs are re-learning to ask open-ended questions to engage the customer followed by closed questions to seal the sale. Dale Carnegie did know How to Win Friends and Influence People, and so should you. The opportunities associated with this are in social media (what I lovingly refer to as old-school relationship marketing on steroids). Whether with Facebook, where Grand Junction is trending at No. 2 in the state for usage growth, or Twitter, where Grand Junction is trending at No. 1, business is happening in social media.

With the local economy still in flux, success in this environment takes creativity and a strong connection to new trends. New jobs are being created by small businesses and innovative ideas. The new economy emerging from this downturn will be different from the old, and it’s critical to stay active and connected with current market trends in order to tap into the economic recovery.

__________________________________________________________________

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - August 2010

To learn more, here are some
links to relevant articles:

Start-Ups, Not Bailouts

How a New Jobless Era Will Transform America

The Start-up Economy

Revitalizing the American Dream

Job Growth in U.S. Driven Entirely by Startups

Industries Find Surging Profits in Deeper Cuts

Artrepreneurship 2.0 — The Business of Art in a New Economy

2010-08-12T14:56:00.000-06:00

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - July 2010

The star of a recent New York Times story by Alex Williams titled “That Hobby Looks Like a Lot of Work” is Yokoo Gibran, who quit her day job after successfully selling her hand-knit scarves and accessories in an Etsy shop. (See note at end of story.) The Times reports that she earns more than $140,000 per year knitting. That’s no hobby! And I started thinking about how artists can utilize the Long Tail economy to find customers and sell their art. We talked about the Long Tail economy last month (Strategic Marketing in a Long Tail Economy, GV June 2010).

Etsy’s mission “is to enable people to make a living making things.” What’s not to love about that? Companies like Etsy that are techie, fast-paced, web-enabled, and virtual can be used to connect us with real things in real life that are important — like art. With blogs, Facebook, and online marketplaces, there is no reason that talented artists in the Grand Valley can’t use these tools to create a great reputation and reach a viable niche market anywhere. The new economy is good for art!

The idea of artists as business people isn’t new. Cheryl McNab, Executive Director of the Western Colorado Center for the Arts, says, “Art has to be a business if you want to be serious about it.” Many artists in the community have worked with Linda Brotman-Evans and ArtSpace and Open Studio, where a mix of business seminars and studio tours can give artists the support they need to earn an income.

Many Grand Valley artists have been successful here, but just as many have needed to go to other communities to find their niche. Art is as much about relationships (if not more) than any other business. In creating a business around an art product, it is critical to make that very personal human connection. Today, new media tools add to your ability to do this by allowing you to do it in a virtual manner.

So you want to turn your creative juices into a business. Where to begin? Let’s assume that you, the artist, are highly skilled and have developed an attractive, marketable line of products. Since your wonderful creations are in high demand, let’s get started with the business side:

1. Write a business plan.

You might think that a business plan is used only to get financing from a bank or other lender. This is not true. A business plan explains your goals, your path, your vision for your future. It can be creative — one of my favorite plans is in comic book form. In the process of writing a business plan, you take a good hard look at what you are going to do and make a strategy for how to make it successful.

2. Get the details right.

You’ll need to form an entity that is the business. Some types are: sole proprietorship, limited liability company, corporation, among others. You’ll also need to understand what expenses the business can expect and how your revenue will impact your tax liability. Developing a good working rapport with a CPA is a must. You should explore business insurance and create a system for tracking your products, sales, and expenses. This approach may be contrary to the artistic sensibility — you may be breaking out in hives at this point — but it is a necessary evil. Trust me: It’s not so bad once you dig in and find ways to do projections that are effective for your work style.

3. Identify your customer.

Start with a target customer. (Generalizations and stereotypes are perfectly acceptable here.) Prioritize; you get to select only one target customer at a time, so begin with the most likely group. You might say, “My creations appeal to all types,” but think of the person most likely to buy your work. Can you describe that person? Younger or more mature? Male or female? Urban or rural? Creative? Professional? Outdoorsy? Bluegrass music lover? Get as specific as you can.

4. Broad can be bad.

Don’t try to make art that is attractive to all people. People want art that speaks to them personally. If you take on too much, your product line will be all over the map. Find your voice and decide what you want to say. Focus on what you do best and know that with time and experience you can do and say more things. It’s a little like an introduction to a new person at a party: You don’t tell them everything about yourself in the first five minutes. You start with the primary thing you want them to know, the thing you think they are most interested in.

5. Start talking.

Make yourself known to the world through new media tools. A great starting point is the Grand Junction Commission on Arts and Culture’s new website. Artists, groups, organizations, galleries, and arts-related businesses can apply with Lorie Gregor for a landing page, a website to introduce yourself to the local market.

Open a blog and/or Facebook page and load pictures, articles, video, or whatever you want to say about your art. This is not a build-it-and-they-will-come tool. This is a way to find and talk to people who are interested in your art. Have you ever bought art from someone who was teaching an art class? That person probably said something that impressed you enough for you to open your pocketbook. You want make that type of impression on Facebook.

6. Make a shopping cart.

Your clients are going to search for art, whether through Google, Facebook, or a local gallery. Make sure that if someone wants to buy something, they can. Make it easy. Artists need to focus on where their consumers are looking to spend dollars. Today, Facebook may have more traffic, but websites are where people are looking for products and spending their dollars.

This is just the tip of the iceberg, but it should get you ready to go. If you need assistance, call us at the Business Incubator Center — we’re happy to help: www.gjincubator.org.

If you haven’t browsed on Etsy, you’re in for a treat. True, some of the creations fail to approach the level of art, but you’ll find lots that do. Visit www.etsy.com.
The Grand Junction Commission on Arts and Culture’s new website can be a big help. Visit www.gjarts.org.
Dianna Fritzler, our local Grand Valley art-marketing guru, used fineartstudioonline.com to develop her site. It is a clean, easy-to-navigate site and offers a selection of items from oil paintings for $2,000+ to prints for under $30.

Strategic Marketing in a Long Tail Economy

2010-07-21T17:09:00.000-06:00

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - June 2010

The Long Tail economy — it sounds so Silicon Valley, Web 2.0, business jargony. Is that really something the grounded, no-nonsense, dirt-on-our-boots Grand Valley community needs to be concerned with? Could be.

Chris Anderson, editor-in-chief of Wired magazine, introduced the term “The Long Tail” in 2004 to define the ability the Internet gives businesses to sell a viable volume of hard-to-find items to specifically interested customers. This model is in stark contrast to traditional sales strategies that center on selling large amounts of mainstream products to just a few clients (80 percent of the business to 20 percent of the clients). In Anderson’s book, The Long Tail: Why the Future of Business Is Selling Less of More (2006), Amazon and Netflix are highlighted for their ability to get more than 25 percent, and trending toward 50 percent, of their business from little, niche, onesie-twosie, independent-type products that are not available in mass-market retailers like Borders, Barnes & Noble, or Blockbuster. Matthew Breman of Cranium 360 urges us on, saying “In a Long Tail economy, there is plenty of room for unique products or services that have real value to take hold, grow, and become profitable.”

If this concept was trendy six years ago, why am I rehashing it now? Times are changing. Interest in using technology to communicate with customers has finally reached a tipping point in the Grand Valley. Blackberries and iPhones seem ubiquitous. In early May, media reports ranked Grand Junction second in the U.S. with the largest concentration of iPads. In addition we love Facebook; over the past 12 months Grand Junction trends second in the state of Colorado for Facebook search volume. Blogs, interactive websites, Twitter, LinkedIn, or whatever, businesses in the Grand Valley are getting engaged with the tools that drive the modern Long Tail economy.

Great — right? If your product is a nanocomposite coating, custom bicycle frame, authentic Native American flute, or handmade collage, you can throw up a website and sell to hundreds of customers all over the world — right? Well, yes, that’s true, but it is not that simple.

Selling hard-to-find items to specifically interested customers requires a very deliberate and carefully crafted branding strategy. In creating a brand — your brand being every way in which you come into contact with your customer — start with a clear picture of how you want your customer to perceive your business. In most cases, successful Long Tail products are driven by purveyors who have created a deep reputation as knowledge leaders/expert practitioners in their fields. Think about how to this get done: lectures, blogs, forums, classes, whatever is applicable to become a leader in that community.

A brand needs an image, a feel, and an attitude. It is a lot more than a logo; it is a manifestation of your culture. It is everything from the product, packaging, fonts, and colors to when and how the phone is answered. It is a look and feel that is consistent in everything the business does.

An image and perception are critical as you begin talking with your target customer. Find them, go to them, and speak to them. Attend conferences, comment on blog posts, connect using social media, or whatever works for you — just start talking. These conversations are going to be absolutely critical to making sure that your product is top-of-mind when your customers make their buying decisions.

Last step is your “storefront.” Where would your target customer look for products like yours? Independent retailers, trade magazines, referrals from trusted friends, or searching online … it all depends on where that client is most likely to look. Where customers are looking is where you need your products to be.

In many instances, Long Tail ventures will need to have a strong presence on the web. Andrew BE of Elegant Technologies is well studied in internet micro-niche marketing. BE explains that search engine algorithms have adapted to Long Tail thinking, which means that they are more specific, more pertinent. When consumers are looking for products or services, they no longer search for them in two to three keyword phrases; it’s gotten bigger and more specific. BE comments that “It’s not just finding a weight-loss solution anymore … these days, it’s a weight-loss program tailored for a 35-year-old computer scientist who plays golf on the weekends.” Businesses operating in the Long Tail need to be optimized so that their communications and their presence are ideally positioned to meet the special needs of their specific customer.

Matthew Breman reminds us, “If you have a unique product or service of value, there are plenty of opportunities to find an audience that is willing to not only listen to you but also spend.” So the challenge becomes locating and recognizing distinct target customers in the Long Tail without killing ourselves by spending too much time and money to reach them. The way to do this is to be strategic so that every step you take is part of a cohesive Long Tail branding strategy.

PRESS RELEASE

2010-06-23T11:16:00.000-06:00

THE BUSINESS INCUBATOR CENTER
2591 B ¾ Road, Grand Junction, CO 81503 • 970/243-5242 • Fax 970/241-0771

FOR IMMEDIATE RELEASE:
DATE June 23, 2010
CONTACT - Chris Reddin (creddin@gjincubator.org) or Annalisa Pearson (apearson@gjincubator.org)
PHONE (970)243-5242

National Business Incubation Association Features Grand Junction’s own Business Incubator Center in “Best Practices in Action”

The Business Incubator Center is honored to be among 40 Incubator programs from across the world spotlighted in the National Business Incubation Association (NBIA) “Best Practices in Action, Guidelines for Implementing First-Class Business Incubation Programs.” What are “best practices?” Simply put, best practices are the standard by which the industry measures itself. They are also yardstick for stakeholders to evaluate if the programs they support are robust and viable.

In the foreword of the book Dinah Adkins, NBIA President Emerita, states, “We believe that the managers of the programs presented here have striven for excellence. They have aspired to be more than “good enough.” Far from being prescriptive, the examples here show the creative abundance that has emerged from programs devoted to serving entrepreneurs in the “highest and best” manner possible.”

Chris Reddin, the Executive Director at the Incubator Center, comments that, “it is an incredible honor to be recognized as one of the best practices in the International Incubation industry. Our program’s strength has been built year over year, getting better with each new business. This best-practice acknowledgment comes from more than two decades of growing companies and strengthening our local economy. The community that has supported our organization for all this time should be credited for much of our success.”

The Business Incubator Center serves a mission to support the launch, growth, stabilization and long-term success of business enterprises. We measure success by our ability to guide entrepreneurs through sound business decisions and our positive influence on economic growth in the region. Over our 23 year history, this structure has generated powerful results, including:
• the launch of more than 235 companies,
• the generation of more than $146 million in revenue by these companies,
• the funding of 260 businesses in the community,
• the creation of 9,625 jobs, and
• the investment of $51.1 million in capital.
For more information please contact either Chris Reddin or Annalisa Pearson or go to www.gjincubator.org.
###

Looking at an Economic Recovery...of a New Sort

2010-06-03T17:31:00.002-06:00

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - May 2010

Signs of an economy recovery are sprouting up throughout the Grand Valley: The Mesa County Manufacturers’ Council meetings are full of activity, and new businesses are popping up in downtown Grand Junction and Fruita. Cabela’s is coming, the Dream Café is thriving (and delicious), Brown’s Cycles has expanded, The Hot Tomato Café re-opens this month, the gas rigs are plowing along slow and steady, and Mesa State is still building and expanding. Maybe the sky is not falling anymore.

The thing is, we are not going back to the way things were. This rapid uptick and then equally rapid downturn has made us all a little wiser and a little better at doing our jobs. When business was booming, workers were extremely hard to come by. Companies invested in efficiency to reduce their dependence on workers. Action Publishing implemented a program called “Lean Manufacturing” to make their operation more efficient. Grady Busse explains, “Lean allows us to produce more product and better product with fewer people.” This is good for business and good for the workers because “The jobs that remain are far better and far more enjoyable,” he continues. It is tough for the community because, although there are good jobs, there are just fewer of them.

The job climate for manufacturers remains uncertain. Sven Wedekin, president of GPD-Global, explains that GPD is now challenged to manage strong growth. “Basically, we saw a tremendous increase in demand beginning November of 2009 that continues into this year,” he says. “Prior to that time, as a capital equipment manufacturer, we were significantly impacted by the recession. We had reduced our staffing level as much as we could to survive the downturn. When business turned around, we hired a number of people through a temp agency, and we continue to maintain our temporary staff because, given current market conditions, we can only forecast out two or three months at a time. Gradually, we will bring qualified, talented people on to our core staff.”

Thinking that things will return to the way they were is not logical. All this change has caused our business community to doubt their forecast’s stability and to think creatively about ways to grow their business in a dynamic environment. Wedekin comments that the past year has not been a time to sit idle and wait for the recovery. “During the downturn,” he says, “GPD developed a couple of new products, which we hope will add to our revenue stream this year.” Busse’s business focuses at its core on teaching students life-enhancement skills, and he sees that the best vehicle to deliver that service in the future may not be their current offering of paper agendas. To this end they are investing in iPhone and iPad products that he believes may be the future of his business. “We are in a slow transition,” he explains, “and as we move to electronic products, things may change again. Looking down the pipe, we could move away from a room full of printing staff to a room full of programmers.”

Ultimately it is innovation that will allow our local economy to grow and create new jobs as the old ones become obsolete and fade away. The real challenge will be for all the talented, creative people in the Grand Valley who have been laid off and cannot expect that a recovery will translate into getting their jobs back. Your old job may not exist anymore. This is a good time to re-evaluate your career choices. Are your skills declining in demand? Or are you part of the growing needs in our community?

As we think about the next steps and how to adapt to a new economy, I would suggest thinking about how to use your skills to solve problems. What are the new “pain points” in our community? It is true that completely new and paradigm-changing, disruptive technologies are wonderful, but they are complex and not all innovation has to be complicated. Being innovative just means that you are looking to solve a problem that no one else is solving right now. One of my favorite recent business starts came from Shawn Montgomery. Shawn was looking for a chimney sweep and discovered that there were only two businesses doing this in town. He felt that the demand was greater than those two could serve. The next day Chim Chim Chimney Sweep was born to help address an underserved market. Need identified, solution created. It can be that simple.

Be scrappy. Be creative. Look for opportunities now, because change always creates opportunity.

Golf: Is It Necessary?

2010-05-11T09:30:00.000-06:00

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - April 2010

Don’t most business people like to golf? Is it vital to one’s success? I am not a golfer, nor do I entirely understand the appeal of chasing a very small ball around a very large grassy slope. Wouldn’t my time be better spent hiking or biking? However, business is my beat, and the Grand Valley business community loves to golf — so I set out to discover what I’m missing.

Diane Schwenke of the Grand Junction Area Chamber is an avid golfer and says it can’t be beat for building business relationships. Diane enjoys spending two hours (nine holes) or even four or five hours (for 18 holes) getting to know someone on the golf course. It’s not all business all the time. (She also said something about beer and popcorn.) Diane strongly believes in the value of golf relationships. Is it mere coincidence that the GJAC puts on an annual golf tournament in September to promote this networking tool? This year will be the 17th of these events.

Norm Franke of Alpine Bank plays golf almost exclusively for personal enjoyment. He comments that golf can be competitive or not, and if you are someone who likes to improve, it can be good for you. I laughed when he commented that if you are easily distracted, you might find it frustrating. Norm enjoys many outdoor sports, including skiing, and says that, as with many sports, golf is what you make of it. Golf can be fun or competitive. Golf can be pricy and take you to resorts all over the world — or not.

Ann Driggers of the Grand Junction Economic Partnership does not golf; she uses all her outdoor time for training. She gets a special pass because few can keep up with her on backcountry skis, mountain biking, or trail running. Although Ann does not spend her Friday afternoons wandering in the sunshine with bank presidents, she does use her recreational interests to promote the outdoor lifestyle that attracts so many companies to our community. See her Outdoor Junkie blog for the Daily Sentinel (See Ann Driggers’ blog at www.gjsentinel.com/blogs/outdoor_junkie/). It’s probably a good thing that Ann doesn’t play golf. Who knows what heights of athletic performance she might bring to the sport?

Nina Anderson of Express Employment says golf is great because you get to spend two hours outside participating in an activity that is not too strenuous and that can be enjoyed, if you so choose, while drinking a beer. (Do you see a motif emerging here?) She mentions that games like a scramble, where the team of players use the best ball of the group at each stroke, is a relaxing way for people of varying skills to enjoy the game together.

Greg Schaefer of Bray Real Estate Commercial told me a few months ago that he needed to get his hip replaced because it was affecting his golf swing. I wasn’t sure if he was joking or not. Greg has been playing since he was 12 years old and finds the game a continuous and constant challenge. He is drawn to golf because he is forever trying to improve what he did before. He notes that if a golfer is not trying to improve, that person is moving backward. Greg reads golf magazines and feels he might know the magic secret to shooting par but needs to play every day to get to that level. Luckily for Greg, several years ago the folks at Hilltop got his wife Sally hooked on the game. Sally uses golf as a business tool, seeing it as a different way to interact with staff and customers and good for team building. For Greg, it is an opportunity to relax and get away from work. The better you play, he notes, the more you like it.

After all this research, I conclude that I might give it a try. Discussing a business plan in the sunshine on a golf course doesn’t sound bad at all.

The business of Mountain Biking

2010-05-11T09:05:00.000-06:00

The Bureau of Land Management has recently presented new data on the impact of mountain-biking tourism. I am glad to see data to support that Mountain Biking brings in an estimated $24 million each year to the local economy. Estimates indicate that since 2000 the number of riders in the valley has grown from 50,000 to 160,000. This is serious business.

Forbes.com on Grand Valley Mountain Biking

Connecting....well at least virtually

2010-04-12T21:03:00.000-06:00

I'm taking a quick poll. How do you like to stay connected?
http://polls.linkedin.com/p/84558/pcosc

The Entrepreneurs: Grand Valley Life

2010-03-31T08:55:00.000-06:00

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - March 2010

Communities that attract entrepreneurs and build strong, growing businesses tend to have a major research university, lots of PhDs, and a pack of venture capitalists throwing money at new inventions. The Grand Valley lacks all of these and yet is a thriving entrepreneurial community. So why exactly do people start their own companies here?
            I think it starts with an independent Western mind-set and an interest in solving problems ourselves. Add to that the fact that the Grand Valley has only a handful of large corporations, and 82 percent of the firms in our community have fewer than ten employees. Mix in the fact that it is very easy to start a business in Colorado (www.colorado.gov/cbe/ (Thank you to Bernie Buescher)), and our local governments are enthusiastic about new business development (for example, see Mesa County’s “Open for Business” initiative: www.mesacounty.us/openforbusiness/). And then top it off with demand for a wide variety of specialized services in sectors such as construction, natural extraction, health care, and recreation. This is not the kind of recipe or blend of factors that makes communities like Boston or San Francisco entrepreneurial, but it is what drives our local economy.
            Sometimes the choices we make about our professional careers have, at the core, more to do with our personal priorities than anything else. In digging deeper into what drives people to “put up a shingle” and go into businesses of their own, it really comes down to lifestyle. We see it every day at the Incubator Center: People choose to have their own business in order to take advantage of the flexibility this type of career gives them to accommodate other priorities.
            At the Incubator Center, you can see Kelly DeVries of Mollycoddle Soap (www.mollycoddlesoap.com), who cares for her kids during the day and works late into the night running her business. Fred Fowler of Delta Epsilon (www.deltaepsilon.com) often takes a road-bike ride at lunch, while Bruce Strong of Apex CAD Products (www.apexcadproducts.com) prefers taking a break in mid-afternoon to go mountain biking. Matt Mayer of Mayer Medical Technologies (www.mayermedical.com) is active in the Grand Valley Chapter of Trout Unlimited and coaches his daughter’s soccer team, but he’s in his office both early and late to balance out his family and work obligations. In downtown Grand Junction, Matthew Breman of Cranium 360 (www.cranium360.com) travels from Alaska to Florida growing his thriving marketing firm and still serves the community as president of the United Way of Mesa County. In Fruita, Jen Zeuner and Anne Keller are hard at work renovating a building to become the new Hot Tomato Café (www.hottomatocafe.com) — a business that blends their passions for mountain biking, pizza, and good times. And in Palisade, Naomi Shepard-Smith shares her passion for art with wine at Grand Valley Vineyards (www.grandvalleywine.com) . There are thousands of other examples, but in each case, people are finding ways to have a successful professional life in balance with all the rest: with family, with recreation, and with passions that fulfill the spirit.
            The same things that make the Valley so attractive (a family-friendly community, abundant outdoor activities, and proximity to the mountains, the desert, rivers, and canyons) also make this a wonderful place to start a business. Business owners do get to decide how much to take on and when to do it, and along with that freedom comes a lot of work and a huge challenge. Still, it’s a workable and popular method to get more out of our Grand Valley lifestyle. Is it the road map for you? That’s something to think about.

Boomers and Gen Y: Tradition vs. Innovation

2010-03-08T13:25:00.002-07:00

Published in Grand Valley Magazine – February 2010 (www.grandvalleymagazine.com)
By Chris Reddin

Some local business owners say their younger workers “spend too much time texting” or “aren’t really looking for a career.” And some younger professionals feel underpaid and uninspired. This situation is by no means universal, but it’s also undeniable.

In the professional world, we expect new employees to follow a tried-and-true routine: Respect authority and follow instructions in order to get ahead. This method worked effectively for many of experienced organizational leaders. But a lot of our younger professionals have new priorities and different expectations. Naturally, some tensions have arisen.

Who’s correct? They both are. The collision of tradition and innovation occurs in every generation. But here I think we have a good match of strong shared values, with some differences in delivery and timing. Let’s look and listen.

For the Baby Boomers

Gen Y are the twentysomethings working today. They are a well-educated, pro-learning group (higher graduation rates than any previous generation) who are at ease with ubiquitous technology. (Yes, they’re on their cell phones a lot.) They’re eager and willing to take on big jobs and make a difference and not particularly interested in “paying their dues” to get there. This attitude isn’t a good fit with a routine, menial job with little chance to make a difference for the company. But who does prefer menial work?

Our Grand Valley business community might be well advised to adapt, to be flexible, to meet new priorities — as difficult as that might sound. Worst-case scenario: We risk losing some of our best and brightest young talent to other communities that are willing to improve to meet their needs.

I asked some of the members of Grand Valley Young Professionals and a few well-regarded twentysomethings, “What does our local business community have to do to make this an attractive place for you to work?”

The answers were both daunting and inspiring. They clearly spelled out that it’s tough to attract and retain young talent when comparable jobs pay significantly more on the Front Range. The Valley is great for recreational opportunities and has a decent social scene, but it has a tough time competing with urban communities that have more to offer both inside and outside of work (particularly for singles).

They want to be successful; they are ambitious. Angela Harness from the City of Grand Junction comments that her generation is not interested in learning to do things because “that is the way we do it.” They want to contribute to the discussion of “what changes will make a positive difference?”

The bar has been raised; this generation says, “Encourage us to be excellent at something.”

Specifically, they recommend that companies offer flexibility in the day’s schedule. Outdoor activities are one of the main attractions here. If your company lets younger workers get their bike rides in during the day and catch up on their deliverables at night, you’ll be offering something different and attractive.

Communicate. Use technology. Try texting. Let younger workers in on your strategic direction, hopes, and plans for the future of the company.

Help them to make a difference. Candice Walton of Ameriprise Financial comments that she would like to see “something along the lines of what REI and Alpine Bank do with giving employees time to give back to the community as part of their work schedule — I love that.”

For Gen Y

The Baby Boom generation are in their mid-forties to mid-sixties (and likely to be your boss or executive leadership). They are the children of the 1960s, similar to their younger staff/co-workers in their idealism. The difference is that this group has been trying to make the world a better place for 40 years now. Their core values are still strong, but their actions are tempered by experience and wisdom.

I asked some Boomer-leader types, “How can younger workers convince you to give them meaningful work — and quickly?”

Is there is a disconnect between young professionals having to “pay their dues” and their desire for important, gratifying work? Jerome Gonzales of JG Management Systems doesn’t see it that way. Jerome challenges his Gen Y staff to “be excellent” and take on bigger projects, but he also warns that with these opportunities come equal amounts of accountability and responsibility. He counsels them to “accept both the opportunity and the hard work that accompanies it.” Paying their dues means taking responsibility and delivering results.

Young professionals are advised to listen. Do not assume. Ask questions. What will it take to make a change? What will improvement cost in terms of dollars, time, and energy? You may be surprised to find that the Boomer generation shares your passion for meaningful work, but you won’t know this unless you listen first.

Ask for a mentor. Maybe one of your company’s leadership team would have coffee with you once a month to help you with your career. (And show them some respect by buying the coffee!)

Find out if your company will help you get connected in the community. Ask to apply for the Grand Junction Chamber’s Leadership Program. Ask if you can participate in the GVYP Conversation with a CEO series. This is still a small community, and our business leadership is readily accessible.

It will take some simple steps and a little progress from both sides, but the benefits are clear.

____________________________________________________

To learn more about Grand Valley Young Professionals, visit www.gvyp.org.

The Good Ol’ Boy Network: Fresh Views

2010-02-10T10:49:00.000-07:00

Because I’m not a boy and don’t like to think of myself as ol’, I’m not one the most likely candidate to set forth the value of a network of old boys. However, I am here to say that the “good ol’ boy network” is alive and well in the Grand Valley (although it is not completely composed of old boys). In our community, it is all about who you know (male or female, young or old). From job interviews to finding the best caterer to expanding your customer base, it is all about connecting with the right people.

We hear complaints about this aspect of our community. It can be hard for newcomers to break into the network. Someone with a fresh face and a shiny new idea to sell may not get a welcome reception. When I moved here, I felt put off by how some people were known and recognized, while others were not. As a newbie, the line at Main Street Bagels in the morning drove me nuts. I would steam with frustration at the glacier-moving pace at which coffee was delivered because many customers were greeted personally and frequently by name. How’s your day going? How was Ryan’s baseball game? Have your grandchildren arrived? All these nice questions take time — time in which I was hoping to get coffee.

But over the years I’ve acclimated and embraced our networked nature. We are a community that likes to know the names of our neighbors, business associates, and customers. I get it now: Go to the drive-thru at Starbucks if you don’t want to be engaged. At Main Street Bagels, they know the names of all the regulars, and most people prefer it that way. Businesses in this Valley pride themselves on their customer service — they know their loyal customers’ names and have a personal connection with them. Many local businesses rely on their network connections for their success.

Let’s apply some analytics to this. A social network consists of individuals (or organizations) called "nodes," connected by specific types of interdependency, such as friendship, financial exchange, knowledge, prestige, etc. Social networks can be either egalitarian or aristocratic. In an egalitarian network, all the nodes have an equal level of connection. In an aristocratic network, some nodes are more connected than others and become hubs of connectivity. This hub structure tends to grow more exaggerated as new nodes join with existing hubs in order to get connected to as many other nodes as possible. This sounds like our “good ol’ boy network” to me.

This can be good. In the various centers of activity in our community, there are hub people who can get you connected quickly. No need to try to reach everyone: Just connect (in a genuine way) to the hub people in your area of interest, and — presto! — you’re plugged in.

So what should you do to get connected? Get out and get active. Most of the hub people in our community play a leadership role of some sort in their fields. How do you do this? Volunteer. Participate. Organize something. If you want to start a mountain biking business, work on building local trails. If you love music, volunteer at KAFM. If you run a machine shop, join the Mesa County Manufacturer’s Council. There are always ways to help, and in doing so you’ll meet the people you need to connect with. That’s where they are, too — out making a difference.

Survey of 1,100 Small Businesses and How They Use Social Media

2010-01-13T15:49:00.001-07:00

from Recca Larson,
Economic Intelligence Specialist with the CITY OF LITTLETON, Business/Industry Affairs

A 2010 report published by Ad-ology titled “Small Business Marketing Forecast” finds 58% of the 1,100 small businesses (under 100 employees) surveyed in November 2009 agree that “social media is a good way to both increase business and to know what people are saying about a business.”

Social networks described as “Very or Somewhat Beneficial” were Facebook (33%), LinkedIn (21%), Twitter (19%), MySpace (17%) and YouTube (15%). Listed as the top business benefits of social networks were generating leads (50%), keeping up with the industry (45%) and monitoring online conversation about their business or industry (44%). Other benefits were competitive intelligence (43%), improving customer experience (41%), finding vendors/suppliers (38%), resolving problems (33%), new employee recruiting (27%) and background checks of employees and suppliers (27%).

For more see: http://www.ad-ology.com/smallbizrpt.cfm

Economics: Biology and Business

2010-01-04T11:25:00.000-07:00

Published in Grand Valley Magazine (www.grandvalleymagazine.com) - December 2009

By Chris Reddin

On the last Friday of each month at Coffee Muggers, entrepreneurs, business owners, and folks with ideas meet to talk about growing their businesses. It is a light, casual, open conversation, but there’s also some evident concern, even anxiety, about the future and whether their ideas will work.

It’s not easy to predict how a business will grow in a changing market. Anyone who’s fought through creating forecasted financial statements or next year’s budget knows this. Business projections are a guess. They can’t accurately predict the future, because the world is complex and unpredictable.

There’s a new twist on economic theory called “complexity economics” that embraces this uncertain reality and uses biology to understand our economy. The business world has historically thought of business functions as mechanical: Apply force and something will happen. Run a weekly ad in the Daily Sentinel and grow the customer base. Drop your prices by 10 percent and sales will increase. We see every day that this doesn’t usually work as we had expected. Growing a business is not as simple as pulling a lever. The economy is a complex adaptive system, and it is not as simple as Adam Smith’s theory that the “invisible hand” allocates resources through the balancing forces of supply and demand. Can you explain Twitter and Facebook using conventional linear supply and demand curves? The traditional model works only in an “ideal world.” Try to find one.

Instead, let’s try to look at companies as species that evolve. Field mice, for one example, are constantly adapting to the environment by getting lighter or darker coats, longer or shorter tails, bigger or smaller ears, and so on. Nature is constantly adapting by making many small bets and then — when something works well — doubling up on the adaptation that works. If darker mice are avoiding more coyotes, nature quickly doubles up on that adaptation, and mice evolve with darker coats. If large ears are also succeeding, nature will cross-breed these two adaptations, and mice evolve with darker coats and larger ears.

Now let’s apply this to business. Your company operates in a complex world, so it must always be testing its adaptations, new products, and innovative services to see what works. We cannot always rely on the mechanical expectation that the market demands lower prices. Instead, try small bets: Seek new ideas for existing customers, sample a different form of delivery, or launch a trial in a new market. Get out there and test the waters — constantly. When something works, double up on it. Go in that direction. If you have two new twists on a product line that work, cross-breed them. As an example, look at the evolution of the Mountain Sprouts product line (a children’s clothing company in Grand Junction). They started with just fleece outerwear for children. Then they tried dresses and recycled dog beds. Hmmm … maybe focus on the cold … yes, hats and more jackets. How about jackets for the parents? Yes, well, sort of. Actually, how about a summer line? Yes, and sun protection as well. How about dresses again? Who knows? Try it. In Mountain Sprouts’ case, they sew up some samples and see who likes them. This approach means that the company stays fresh and new, and they know exactly what the customer wants.

Does that sound easy? Well, I’m afraid it’s not. Complexity economics means that entrepreneurs, companies, product managers, and salespeople must fail more than they succeed. This means putting your ideas out there knowing full well that most of them will fail. It means having to give up on the genius business plan with the singular brilliant paradigm-shifting, world-altering idea that makes us all rich. It won’t be easy, but we must get comfortable with failure. We must learn to fail fast and frequently.

Of course we won’t throw the business plan and budget out the window. We still need to communicate expectations, set goals, and research the market. But we can think biologically. Lions, tigers, and bears survive by constantly watching the competition and adapting to their environment. In the business world we expect the mechanical; we expect a response that works on paper. But in the real world, customers are drawn to the unexpected: to new ideas, to an advantage over competition. Business leaders must focus on creating new stuff that meets a need in the economic environment. It isn’t easy, but it is better — because this is how the world really works. And by embracing this theory, we’ll be better able to adapt to the changes that the world, the economy, and our customers throw at us.

For more information on complexity economics, I recommend Eric D. Beinhocker’s, The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics. Boston: Harvard Business School Press, 2006.

Chris Reddin
creddin@gjincubator.org
Become a Fan on Facebook- Business Incubator Center
Twitter @creddin
Linkedin christinareddin

Do you really need a business plan?

2009-12-18T16:37:00.000-07:00

Neil Patel recently wrote a blog post on “Why Entrepreneurs Shouldn’t Write Business Plans” that Wes Scripps from Forlio Designs tweeted about on twitter (@forlio). It is a good post, you should read it.

Wes asked me, "do you think you need to write a business plan?" My reply is "Yes!" But, I do not think you need to write a profound tome explaining in detail how the future of your business will unfold. The shorter the better. If your business does not make sense within a simple, short description, then you probably don’t have a very strong business proposition.

In this case, it is the journey that is of value, not the destination. A business plan is important because it requires a you to go through a process of looking at exactly what you what to do, for whom and for how much. A business plan demonstrates that you have thought through the market, your customers, your products and services and exactly how you want to execute this concept. You know that the market demands what you want to offer and that you know how to supply the need. Most importantly, you know that you’ve written it all down, made it a firm goal and a real commitment.

Many of Neil’s points in the above blog post are accurate. Sometimes all you need is a good PowerPoint presentation and an executive summary to get funding (although not for the SBA). Your business will constantly evolve and change. You MUST react and be proactive. I think this means going back through the fundamental questions you’ve addressed in your business plan and make sure your new ideas are still relevant. Is your new product valuable to your target customer or are you drifting towards other markets? Are you improving or just doing more of the same? Be strategic. Be conscious in your choices. Don’t re-write your business plan every time you try something new, but use the business planning process as a template for reviewing every new initiative:

What is happening in the market?
What are my competitors’ doing?
Who is my target customer and how many do I hope to reach?
What are my product(s) / service(s)?
- How does my company serve our customers?
- How is our new offering better? Different?
What kind of sales numbers do I think I can generate?
How exactly are we going to deliver on our objectives?
When I do a quick crunch of the numbers, do they make sense? Am I missing anything?
How much cash do I need to do this?

If you have never written a business plan, you must write one to understand the process. It is not a simple straight forward endeavor. The process will make you enthusiastic one moment, and then overwhelmed the next. In the end, you feel that you have looked comprehensively at what you want to do and believe in your vision for how it will work. That is powerful! And a tool you will use over and over again as you adapt, change, grow and evolve your business.

JGMS is a Colorado Company to Watch

2009-11-11T13:00:00.000-07:00

Congratulations to JG Management Systems on their recognition as one of 2009's “Colorado’s Companies to Watch".

www.colorado.companiestowatch.org/

http://www.jgmsinc.com/

When everyone means nothing.

2009-11-06T13:04:00.000-07:00

From Seth Godin's Blog: Everyone is clueless

The problem with "everyone" is that in order to reach everyone or teach everyone or sell to everyone, you need to so water down what you've got you end up with almost nothing.

Everyone doesn't go to the chiropractor, everyone doesn't give to charity, everyone has never been to Starbucks. Everyone, in fact, lives a decade behind the times and needs hundreds of impressions and lots of direct experience before they realize something is going on.

You don't want everyone. You want the right someone.

Someone who cares about what you do. Someone who will make a contribution that matters. Someone who will spread the word.

As soon as you start focusing on finding the right someone, things get better, fast. That's because you can ignore everyone and settle in and focus on the people you actually want.

Here's a video that David sent over. I am thrilled at how much this guy loves his job, and I'm inspired by his story of how he turned down Pepsi as a vendor. He turned them down. But everyone wants Pepsi! Exactly. Once he decided he wanted someone, not everyone, his life got a lot better.

http://sethgodin.typepad.com/seths_blog/2009/11/everyone-is-clueless.html

Business Incubator Center NEWS

2009-10-16T10:10:00.000-06:00

Entrepreneurship & the Incubator Center in the local press
Have you see it? Recently a number of articles / new stories have run on entrepreneurship, growing businesses and the Incubator Center. Check out this list of recent articles: http://www.gjincubator.org/about/campusnews.php It is really exciting to see so many interesting ideas and growing companies blooming in Grand Valley.

Co-working Spaces – it’s a trend!
Many entrepreneurs discover that after a few weeks of working in bunny slippers, their home offices leave them feeling isolated and enervated. Recently, co-working spaces have begun to spring up, offering home-based entrepreneurs a part-time desk where they can find structure, camaraderie and advice. Entrepreneur

Building a factory on your desktop
Ponoko, a New Zealand company, developed a laser cutter that can follow patterns downloaded from the Internet, allowing would-be designers anywhere in the world to create complex shapes in wood and plastic. Artists and entrepreneurs use Ponoko's cutters to make small batches of toys, lampshades and other products. CEO David ten Have says he believes the devices have the potential to turn everyone into a manufacturer. Inc.

Colorado Business Incubation Association Fall Conference

2009-09-15T07:16:00.000-06:00

The Colorado Business Incubation Association (CBIA) promotes entrepreneurship throughout Colorado. One of CBIA’s objectives is to provide training and education to its members in the form of one-day conferences twice a year. The programs for these conferences include “lessons learned” from seasoned business incubator managers, legislative updates, identification of resources and many other topics that provide valuable information to planned, emerging and established business incubators.Fall Conference 2009 is being held at the award winning Grand Junction Business Incubator Center on Thursday, October 8th. The theme of this one-day conference is “Business Incubation During These Changing Economic Times”. You will hear from seasoned incubator managers and representatives from organizations that fund incubator start-up costs and ongoing operations and also tour the Business Incubator Center. At the end of the day, we will enjoy some great networking time as we tour two wineries and finish with dinner at the Wine Country Inn!

Click to view the full-day Conference Program and download the Registration Form. Please contact Michelle Alcott (malcott21@comcast.net) or Vicki Jenings (vjenings@colobio.com) if you have questions.

2009-09-01T09:14:00.000-06:00

Second Annual COLORADO ENTREPRENEURSHIP MARKETPLACE...business starts here.
Do you want to start your own small business?Do you want to take your small business to the next level?
October 9, 2009
8:00am to 7:00pm - a full-day, but feel free to come and go as you like.Two Rivers Convention CenterGrand Junction, CO

Event Schedule
Six Session TracksAgri-Businness . Financing . Retail & Business Development . Marketing . Community Development . Technology

Click HERE for a detailed outline of the day's events: Event Schedule.

Feel free to come for the whole day or just the session you are most interested in. The $30 registration cost covers as many sessions as you would like to attend. Don't miss the keynote address from Curt Richardson of OtterBox at 3:45pm.
For more information go to http://www.ruralcolorado.org/events-calendar-1/coloentrmrktplace, or call: Michelle Alcott, CRDC Business Manager 303-934-9117 303-934-9117 . malcott@ruralcolorado.org

A success for ALL of Rural Colorado!

Summer Open Market

2009-07-14T10:28:00.000-06:00

This FRIDAY the Business Incubator Center will hold a Summer Open Market Place and Treasure Hunt. The event will feature dozens of vendor booths showcasing a variety of our clients from throughout the Valley, live music (Pineapple Crackers!), a business treasure hunt with HUGE prizes, and for the kids, a bump-n-jump, face painting and balloon tying.

See you at the Summer Market Place, on Friday July 17, 2009 from 2:00 p.m. – 8:00 p.m. in the BIC campus parking lot.

Now hear this

The key to problem solving is active listening, yet human beings internalize just 25% to 50% of what they hear, writes psychiatrist Steven Berglas. To be a better listener, Berglas argues that entrepreneurs need to slow down, stop worrying about their image and stop being defensive. Most of all, he suggests, drop the "been there, done that" attitude that gets in the way of taking good advice. Forbes

When customers become consultants

From company names to product design, entrepreneurs are using the Web to give customers input into every aspect of a business, as this article notes. Customers are much cheaper than consultants, and they may also become passionate supporters of companies that engage them. But one Babson College professor warns that too much crowdsourcing can strangle innovation. The Wall Street Journal

Indicators of Entrepreneurial Tendencies

A newly released report by the Kauffman Foundation, Anatomy of an Entrepreneur, reveals that the majority of entrepreneurs had early propensity toward starting companies, judging by their academic performance and socio-economic backgrounds. Kauffman: Anatomy of an Entrepreneur / WSJ: Anatomy Of An Entrepreneur May Not Be What You Think

CAMPUS NEWS

The Price is Right, Right? Establishing Fair Market Value to Buy or Sell a Business.
What would be a fair listing price for a business and how is it determined? Will a lender finance the acquisition? Does selling a business within the industry provide opportunity to command a premium price? Join Mike Schaack, President of The Redstone Group, Ltd., Matt Mayer, President of Mayer Medical Technologies, Inc., and Chris Reddin, Executive Director of the Business Incubator Center in learning about the roles of market analysis and business evaluation in developing a realistic business worth assessment. Cost is $50.Date: Wednesday, August 12 from 8 am - noon

LEADING EDGE – Business Plan Development Program
The Leading Edge Program is an intensive training course that provides business owners and entrepreneurs with expert guidance in the areas of cash flow management, marketing, finance, personnel, legal issues, and more. Each participant will receive hands-on assistance in preparing a complete business plan. Tuition is $275, and includes the NXLEVEL Guide for Entrepreneurs and the NXLEVEL Business Plan Workbook and Resource Guide. When: August 18 - November 10, 200912 Sessions Tuesdays from 6:00 – 9:00 pm Call to register as soon as possible as the class does have a cap on the number of participants and it normally sells out.

Tax Plan Workout: Dealing with the Business Tax Maze
This informative presentation will help you simplify some otherwise confusing tax issues such as tracking and paying all business taxes, computing & filing payroll taxes, depreciation of home or auto use in business, subcontracting vs. employment, sales tax as well as unemployment and use taxes. Cost is $45. Instructor, Pamela J. Belcher, CPA, has many years experience working with entrepreneurs in Mesa County. Other speakers include representatives from the Colorado Dept. of Revenue, Dept. of Labor and Employment and the Mesa County Assessor's Office. When: Thursday, August 20, from 9:00 am to 4:00 pm (lunch on your own from noon to 1 pm)

Get the word out! Incubator Clients, let us help promote your success! I am sure that many of you have seen the weekly articles in the Free Press featuring client companies. Well, that support is just one of many ways we can help get the word out about your business. We have a close working relationship with the Daily Sentinel and the local TV news stations as well. We have recently updated our website (www.gjincubator.org) and would love post videos, stories, pictures, snippets, or blurbs about your business. Please send any news you have to creddin@gjincubator.org.

Join us on LinkedIn

Collaboration amongst peers is one of the most important benefits to being part of the Business Incubator Center community. To help enrich this aspect of the program, we would like to suggest that if you are not already a user of the social networking site LinkedIn, please consider joining! The Business Incubator Center now has a group on LinkedIn, and we would like to invite all of you to join us. The more people who are in the group, the more valuable a resource it will become to the Business Incubator Center community. As the community grows, you will be able to find colleagues who may be in similar industries or facing similar growth issues, and it will serve as just one more way that the community can help businesses grow and prosper.

The Business Incubator Center

http://www.linkedin.com/e/vgh/1554637/
To learn more about how to use LinkedIn to help grow your business go to: http://learn.linkedin.com/entrepreneurs/

Become a fan of The Business Incubator Center on Facebook

The Business Incubator Center is now on Facebook. Click here and login to become a fan and have Business Incubator Center news, events, and videos posted to your personal Facebook page.

TOASTMASTERS: Become the Speaker & Leader You Want to Be

Join us as the downtown Toastmasters meeting moves to the Incubator Campus! Toastmasters participants practice and learn skills by filling a meeting role, ranging from giving a prepared speech or an impromptu one to serving as timer, evaluator or grammarian. There is no instructor; instead, each speech and meeting is critiqued by a member in a positive manner, focusing on what was done right and what could be improved.
Good communicators tend to be good leaders. Incubator Clients are welcome! Attend a meeting or two to observe and participate as much as you like, but membership is required for additional participation.
When: Every Thursday at noon
Where: in the Training Room

The GYM is open! The Business Incubator Center is excited to open a gym on campus that will provide all Incubator Client Companies and their Staff the opportunity to meet their fitness goals 24 hours a day, 7 days a week. For more details or to get a guided tour of our 540 sf facility, contact Kjersti (khudson@gjincubator.org ) or Katie at the front desk. Here’s to a happy and healthy 2009!

Video Lab Training Session
Topic: Learn to use the new video lab…and make better use of your website.
When: Call Chris to schedule a time
Where: in the video lab on the second floor of the technology building

NEWS June 22, 2009

2009-06-22T12:59:00.000-06:00

The Coming Entrepreneurial Boom
Economists know that entrepreneurship will drive the economy back to health, but many people may be surprised to learn that the baby boom generation is behind the wheel, according to a new study by the Ewing Marion Kauffman Foundation. The study, "The Coming Entrepreneurship Boom," found that several facts have emerged in the course of Kauffman Foundation research that indicate the United States might be on the cusp of an entrepreneurship boom -- not in spite of an aging population but because of it. Kauffman Foundation

Ugly shoes, beautiful story

Margot Fraser tried on her first pair of Birkenstocks during a tour of German health spas in 1966. She liked them so much she talked the manufacturer into a U.S. distributorship, only to find that no shoe retailers would touch the clunky, cork-soled sandals. Undeterred, Fraser exhibited at a health-food store convention and quickly signed up 20 or 30 customers. In the '70s, "the new generation adopted them as an emblem," helping Birkenstock USA become a $50 million company. Inc.

CALLING FOR VENDORS!
This July the Business Incubator Center will hold a Summer Open Market Place and Treasure Hunt. The event will feature vendor booths showcasing a variety of our clients from throughout the Valley, live music, a business treasure hunt with prizes, and for the kids, a bump-n-jump, face painting and balloon tying. The Summer Market Place will take place July 17, 2009 from 2:00 p.m. – 8:00 p.m. and will be located at the BIC campus parking lot. We expect approximately 300 to 400 attendees and guarantee an afternoon and evening of fun while celebrating local business and entrepreneurship.
How do you get involved?

- Mark your calendars – Friday, July 17 from 2:00pm to 8:00pm

- Want to have a booth to showcase your products or service? Vendor applications are available. Contact Annalisa Pearson for details: apearson@gjincubator.org or 243-5242 or register your booth here.

- Be a sponsor! Contact Chris Reddin to talk about of potential event sponsorship opportunities: creddin@gjincubator.org or 243-5242.

- Tell a friend... no tell all your friends and co-workers!

As you know, here in the Grand Valley we are a community that prides itself on its independence and ability to create our own prosperity. In these times of economic uncertainty, it is critical that our community seizes upon the opportunities at hand and that we do all we can to grow our own businesses. This work is exactly what we do at the Business Incubator Center. Today we are supporting hundreds of clients as they start and grow the businesses that will lead our community to forward. We are very excited to put on this event to highlight these businesses and show the community the opportunities, innovation and positive growth we see every day in our clients.

Business Incubator Center NEWS

2009-06-09T10:27:00.000-06:00

More than Half of Fortune 500 Companies Were Founded in Recession or Bear Market.
A recent study by the Ewing Marion Kauffman Foundation finds a silver lining in today's challenging economic times: Recessions can spur entrepreneurship, which leads to the creation of much-needed new jobs. The study The Economic Future Just Happened found that more than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market, along with nearly half of the firms on the 2008 Inc. list of America's fastest-growing companies. The report also suggests a broader economic trend, with job creation from startup companies proving to be less volatile and sensitive to downturns when compared to the overall economy.

Not your father's taco cart
The lowly lunch truck is getting a gourmet makeover. With prices running around $150,000, mobile kitchens are a cheaper way for entrepreneurs to get into the restaurant business -- or for existing chefs to boost their revenue. Sales are down 20% to 25% at Hudson's on the Bend, a fine-dining restaurant in Austin, Texas, but chef-owner Jeff Blank says his new lunch truck, with an average check of less than $10, has made up the difference. The Wall Street Journal

The Start-up Guru: Y Combinator's Paul Graham
Paul Graham's startup factory, Y Combinator, funds about 40 companies a year at about $25,000 each, then provides them with lots of advice, networking and other resources. Of the 145 companies launched since 2005, about 80% are still in business, and some are the darlings of Silicon Valley. Inc.

CAMPUS LIFE

Cut the Fat: Lean Enterprise for a Mean Office Operation
In this interactive eight-hour training, your team will learn how to apply the key principles of Lean to your administrative processes. High-retention learning is accomplished through both classroom time and three rounds of simulation. Each round of simulation is followed by classroom learning focused on the basic building blocks of Lean Enterprise; participants then work as a group to modify their simulation work environment based upon their newly-acquired knowledge. Metrics are calculated between rounds to quantitatively measure incremental results of the improvements as the group evolves into a Lean organization. The training also includes two breakout sessions where participants can apply their learning to come up with opportunities and projects to improve their own work environment.
Who should come? Anyone who handles sale, customer service, engineering, estimating, purchasing, accounting, and other administrative and office responsibilities are the target audience of this workshop. Topics include: the basic principles of Lean, how to identify and eliminate waste, what are the Lean tools, how to apply Lean thinking to increase productivity, decrease costs and streamline the flow of products and information. Cost is $235 per person.
Date: June 23, from 8:00 am to 4:00 pm

LEADING EDGE – Business Plan Development Program
The Leading Edge Program is an intensive training course that provides business owners and entrepreneurs with expert guidance in the areas of cash flow management, marketing, finance, personnel, legal issues, and more. Each participant will receive hands-on assistance in preparing a complete business plan. Tuition is $275, and includes the NXLEVEL Guide for Entrepreneurs and the NXLEVEL Business Plan Workbook and Resource Guide.
When: August 18 - November 10, 200912 Sessions Tuesdays from 6:00 – 9:00 pm Call to register as soon as possible as the class does have a cap on the number of participants and it normally sells out.

2009-04-28T10:05:00.000-06:00

NEWS

Incubator Entrepreneurship Survey
Take our quick survey, "Are you an Entrepreneur?" We are collecting information about entrepreneurship in the valley and want ot hear from you. It takes only seconds to complete: http://www.zoomerang.com/Survey/?p=WEB2292FUERTTQ Thank you!

"Incubator kitchens" provide ingredients for business success
Budding food entrepreneurs are turning to rentable, fully stocked "incubator kitchens," complete with health-inspector approval, to help them get started. About 60 such kitchens exist in the U.S., providing a valuable resource for some chefs. Los Angeles Times (4/21)

Creating A Vibrant Entrepreneurship Ecosystem
Policymakers in Washington are debating how and where stimulus funding should be used to accelerate job creation and economic development through innovation clusters and business incubators. Babson College Professor Mark Rice suggests that short term stimulus should leverage the existing innovation and entrepreneurship ecosystem; and simultaneously, opportunities to innovate with respect to the structure, processes and resources of the ecosystem should be explored. His article is available in Science Progress http://tinyurl.com/c6sf7p or view the short video summary at YouTube

Change is good for business
There are fewer decision makers in small businesses, which means that such businesses usually adapt faster to changes, says business coach Marvin Powell of Centreville, Va. The Wall Street Journal looks at five small businesses that have developed new products to adapt to the market: a personal trainer, a landscaper, a wood supplier, a pool maker and a commercial-property-management company. The Wall Street Journal/Dow Jones Newswires

Become a fan of The Business Incubator Center on Facebook
The Business Incubator Center is now on Facebook. Click here and login to become a fan and have Business Incubator Center news, events, and videos posted to your personal Facebook page.

CAMPUS LIFE

Social Networking for Business: LinkedIn, Facebook, Twitter and more
Social networks are an increasingly important way to build customer relationships, expand your contact database and increase your company's visibility on the web. Understanding these new tools is especially valuable in a down economy. On Wednesday, April 15, from 6 to 9 p.m. at The Business Incubator Center, Andrew BE of Elegant Technologies Limited will lead a Social Networking workshop to demonstrate how these networks can be used as build your "brand".
At the workshop, you will learn how to use social networks to cultivate contacts, establish relationships with potential customers, build profiles to become more "findable," and hone search techniques and strategies. Cost: $35.
For more info go to: http://www.elegantwebsitedesign.com/blog/
When: Thursday, May 7 from 5:30 - 9:00pm

Government Contracting
Whether you’re a seasoned veteran in the government contracting arena or just getting started, this event is a must. Federal, State, and Local governments purchase billions of dollars worth of products and services from businesses through government contracts. Learn of the latest developments in government contracting, HUB zones, minority and disadvantaged business certifications. Cost is $55 and includes lunch.
Speakers include;
· Dale Wells from Sterling Innovations
· Chip Brazelton from CDOT
· Carolyn Terrell and Greg Lopez from the SBA

When: Wednesday, May 13 from 9:00am to 4: 00pm

Get the word out!
Incubator Clients, let us help promote your success! I am sure that many of you have seen the weekly articles in the Free Press featuring client companies. Well, that support is just one of many ways we can help get the word out about your business. We have a close working relationship with the Daily Sentinel and the local TV news stations as well. We have recently updated our website (http://www.gjincubator.org/) and would love post videos, stories, pictures, snippets, or blurbs about your business. Please send any news you have to creddin@gjincubator.org.

Business Incubator Center NEWS

2009-04-23T15:46:00.000-06:00

Incubator Entrepreneurship Survey
Take our quick survey, "Are you an Entrepreneur?" We are collecting information about entrepreneurship in the valley and want ot hear from you. It takes only seconds to complete: http://www.zoomerang.com/Survey/?p=WEB2292FUERTTQ Thank you!

Tip from Wesley Scripps of Forlio Designs LLC
http://gotvmail.com/ is a neat website that provides toll-free numbers for small businesses. It gives a big company feel to any small business. I recommend it to my clients because it makes life a little simpler and the cost is low. Forlio Designs LLC

How to be an (open) design star
German design star Ronen Kadushin is aiming to revolutionize home decor by applying the principles of open-source computing to the proprietary world of furniture design. Consumers are invited to visit Kadushin's Web site, download free specifications and AutoCAD files, and make their own pieces. Kadushin encourages creative modifications of his designs, and he even encourages users to send a photo of their adaptations. Wired

Public relations is alternative to ad-budget cut
The line between journalism and marketing has blurred in the convergence of new media, and since advertising is expensive, public relations is a solid avenue for getting the word out about what a company can offer. The key to getting a journalist to report on a company is doing the homework to find out what content is appropriate for a particular audience and focusing on how the company can offer what the audience wants. BusinessWeek

Ideablob
Specialized in small business banking needs, the Advanta Bank Corporation began Ideablob.com as an outreach effort to help small business owners and entrepreneurs grow their businesses. Using the strength of crowds, Ideablob is a virtual location where business ideas/concepts are exposed, nurtured and rewarded. In monthly contests, rewards of $10,000 are given to the best proposal of the month voted by the website community. Virtual expert advisors provide additional assistance and guidance to those who submit ideas. Only open to participants from the United States, the website recently began a new service, Boblive, where live pitches are made in physical venues around the country with the objective of improving business concepts and ideas.
(Source: Adapted from http://www.ideablob.com/

CAMPUS NEWS

Get the word out!
Incubator Clients, let us help promote your success! I am sure that many of you have seen the weekly articles in the Free Press featuring client companies. Well, that support is just one of many ways we can help get the word out about your business. We have a close working relationship with the Daily Sentinel and the local TV news stations as well. We have recently updated our website (www.gjincubator.org) and would love post videos, stories, pictures, snippets, or blurbs about your business. Please send any news you have to creddin@gjincubator.org.

Social Networking for Business: LinkedIn, Facebook, Twitter and more
Social networks are an increasingly important way to build customer relationships, expand your contact database and increase your company's visibility on the web. Understanding these new tools is especially valuable in a down economy. On Wednesday, April 15, from 6 to 9 p.m. at The Business Incubator Center, Andrew BE of Elegant Technologies Limited will lead a Social Networking workshop to demonstrate how these networks can be used as build your "brand".
At the workshop, you will learn how to use social networks to cultivate contacts, establish relationships with potential customers, build profiles to become more "findable," and hone search techniques and strategies. Cost: $35.
For more info go to: http://www.elegantwebsitedesign.com/blog/
When: Wednesday, April 15 from 6:00 - 9:00pm SOLD OUT (add your name to the wait-list for a second session coming soon)

Government Contracting
Whether you’re a seasoned veteran in the government contracting arena or just getting started, this event is a must. Federal, State, and Local governments purchase billions of dollars worth of products and services from businesses through government contracts. Learn of the latest developments in government contracting, HUB zones, minority and disadvantaged business certifications. Cost is $55 and includes lunch.
Speakers include;
· Dale Wells from Sterling Innovations
· Chip Brazelton from CDOT
· Carolyn Terrell and Greg Lopez from the SBA

When: Wednesday, May 13 from 9:00am to 4: 00pm
Join us on LinkedIn
Collaboration amongst peers is one of the most important benefits to being part of the Business Incubator Center community. To help enrich this aspect of the program, we would like to suggest that if you are not already a user of the social networking site LinkedIn, please consider joining! The Business Incubator Center now has a group on LinkedIn, and we would like to invite all of you to join us. The more people who are in the group, the more valuable a resource it will become to the Business Incubator Center community. As the community grows, you will be able to find colleagues who may be in similar industries or facing similar growth issues, and it will serve as just one more way that the community can help businesses grow and prosper.
The Business Incubator Centerhttp://www.linkedin.com/e/vgh/1554637/
To learn more about how to use LinkedIn to help grow your business go to: http://learn.linkedin.com/entrepreneurs/

TOASTMASTERS: Become the Speaker & Leader You Want to Be
Join us as the downtown Toastmasters meeting moves to the Incubator Campus! Toastmasters participants practice and learn skills by filling a meeting role, ranging from giving a prepared speech or an impromptu one to serving as timer, evaluator or grammarian. There is no instructor; instead, each speech and meeting is critiqued by a member in a positive manner, focusing on what was done right and what could be improved.
Good communicators tend to be good leaders. Incubator Clients are welcome! Attend a meeting or two to observe and participate as much as you like, but membership is required for additional participation.
When: Every Thursday at noon
Where: in the Training Room

The GYM is open!
The Business Incubator Center is excited to open a gym on campus that will provide all Incubator Client Companies and their Staff the opportunity to meet their fitness goals 24 hours a day, 7 days a week. For more details or to get a guided tour of our 540 sf facility, contact Kjersti (khudson@gjincubator.org ) or Katie at the front desk. Here’s to a happy and healthy 2009!

Video Lab Training Session
Topic: Learn to use the new video lab…and make better use of your website.
When: Call Chris to schedule a time
Where: in the video lab on the second floor of the technology building

Business Incubator Center NEWS

2009-03-17T13:55:00.000-06:00

StartUp Nation "Elevator Pitch" Contest
Winning businesses receive one-hour meeting with top-tier investors and a Toshiba Satellite Pro S300 laptop, plus a one-year GoToMeeting account.Deadline to apply: Video pitches by March 20Details: www.startupnation.com/elevator-pitch-2009

American Security Challenge
Six winners will present their business plans for national security technologies during the American Security Challenge event in Washington, D.C. Top prize is $100,000.Deadline: Executive summaries by March 30Details:
www.americansecuritychallenge.com

Inc. 500/5000
ListTop companies will be featured in Inc. magazine and the Inc.com Web site, and are invited to the Inc. 500/5000 conference in New York, among other opportunities.Deadline to apply: Applications by March 31.Details: www.inc.com/5000

How to build a powerful business network
Who cares how many people are in your LinkedIn network? What really matters is the strength of your bonds to people who can help you achieve your mission, writes executive coach Scott Eblin. To do that takes smart network management, which Eblin distills into five rules. Among them: Clearly declare your intentions and make your requests specific. The Next Level Blog

Do Your Employees Pass This “Easy” Etiquette Audit? by Jodi Smith
Believe it or not, the etiquette consulting field is a recessionary business. Think about it, when you have a choice between two restaurants, both in the same area, both in the same price range, both with solid menus, and one makes you feel like Norm walking into Cheers when you come through the door and the other can barely be bothered to take down your name as you wait for a table… The Toilet Paper Entrepreneur

Campus Life….

Get the word out!
Incubator Clients, let us help promote your success! I am sure that many of you have seen the weekly articles in the Free Press featuring client companies. Well, that support is just one of many ways we can help get the word out about your business. We have a close working relationship with the Daily Sentinel and the local TV news stations as well. We have recently updated our website (www.gjincubator.org) and would love post videos, stories, pictures, snippets, or blurbs about your business. Please send any news you have to creddin@gjincubator.org.

Client Company Lunch
Topic: ‘da Economy
Speaker: Chris Reddin will share data from various recent presentations on the health of the economy
Date: Tuesday, March 17 at noon in the training room
Food: Catering by Decadence

What Matters Most: Values-Based Approach to Time and Life Management
Achieve what matters most and gain better control of your personal and professional life through values-based time and life management skills. What Matters Most is adapted from the work of Steven Covey, a recognized expert in time and life management. This class will help you focus on your personal values and priorities, then execute around those priorities. The principles and processes we’ll discuss can help set your course for a more successful and fulfilling life. Cost: $69.
When: Tuesday, April 7 from 8:30 AM - 12:00pm

Social Networking for Business: LinkedIn, Facebook, Twitter and more
Social networks are an increasingly important way to build customer relationships, expand your contact database and increase your company's visibility on the web. Understanding these new tools is especially valuable in a down economy. On Wednesday, April 15, from 6 to 9 p.m. at The Business Incubator Center, Andrew BE of Elegant Technologies Limited will lead a Social Networking workshop to demonstrate how these networks can be used as build your "brand".
At the workshop, you will learn how to use social networks to cultivate contacts, establish relationships with potential customers, build profiles to become more "findable," and hone search techniques and strategies. Cost: $35.
When: Thursday April 16 from 6:00 - 9:00pm

Join us on LinkedIn
Collaboration amongst peers is one of the most important benefits to being part of the Business Incubator Center community. To help enrich this aspect of the program, we would like to suggest that if you are not already a user of the social networking site LinkedIn, please consider joining! The Business Incubator Center now has a group on LinkedIn, and we would like to invite all of you to join us. The more people who are in the group, the more valuable a resource it will become to the Business Incubator Center community. As the community grows, you will be able to find colleagues who may be in similar industries or facing similar growth issues, and it will serve as just one more way that the community can help businesses grow and prosper.
The Business Incubator Centerhttp://www.linkedin.com/e/vgh/1554637/
To learn more about how to use LinkedIn to help grow your business go to: http://learn.linkedin.com/entrepreneurs/

TOASTMASTERS: Become the Speaker & Leader You Want to Be
Join us as the downtown Toastmasters meeting moves to the Incubator Campus! Toastmasters participants practice and learn skills by filling a meeting role, ranging from giving a prepared speech or an impromptu one to serving as timer, evaluator or grammarian. There is no instructor; instead, each speech and meeting is critiqued by a member in a positive manner, focusing on what was done right and what could be improved.
Good communicators tend to be good leaders. Incubator Clients are welcome! Attend a meeting or two to observe and participate as much as you like, but membership is required for additional participation.
When: Every Thursday at noon
Where: in the Training Room

The GYM is open!
The Business Incubator Center is excited to open a gym on campus that will provide all Incubator Client Companies and their Staff the opportunity to meet their fitness goals 24 hours a day, 7 days a week. For more details or to get a guided tour of our 540 sf facility, contact Kjersti (khudson@gjincubator.org ) or Katie at the front desk. Here’s to a happy and healthy 2009!

Video Lab Training Session
Topic: Learn to use the new video lab…and make better use of your website.
When: Call Chris to schedule a time
Where: in the video lab on the second floor of the technology building

Business Incubator Center NEWS

2008-12-31T09:44:00.000-07:00

Ten Tiny Things Every Small Business Owner Should Do in 2009
Guy Kawasaki of How to Change the World December 31st, 2008. On this, the last day of 2008, I provide a list of ten tiny things that every small business owner should do in 2009—hopefully in early 2009. Don’t consider it a New Year’s resolution because there’s a whole psychology behind such things. Just do it. Guy Kawasaki

What to do when business gets too personalSometimes, managers have to set aside emotions for the sake of the bottom line, says veteran entrepreneur Norm Brodsky, who shares a couple of stories about personal relationships negatively affecting businesses. "You simply can't make good business decisions unless you are able to put emotions aside and analyze a situation objectively. I believe there is no more important -- or difficult -- skill for an entrepreneur to learn." Inc.com

Why we don’t have corporate jobs, a year-end review of some odd office behaviorsThe Globe and Mail chronicles workplace oddities from 2008 in its year-end "Office Awards." Among the incidents that caught the newspaper's attention: employees who lost their jobs for bathing at work, a worker who sued his employer after being waterboarded in a sales meeting and the suspension of a Japanese worker who managed to log 780,000 visits to pornography sites on a company computer before being sent home. The Globe and Mail (Toronto)

Campus Life….

The GYM is opening Monday, January 5!
The Business Incubator Center is excited to be opening a gym on campus that will provide all Incubator Client Companies and their Staff the opportunity to meet their fitness goals 24 hours a day, 7 days a week. In addition to using the gym for personal goals, we will be upping the ante for those of you who want a little extra drive with competitions; the first one starting January 9th.

For more details or to get a guided tour of our 540 sf facility, contact Kjersti ( khudson@gjincubator.org ) or Katie at the front desk. Here’s to a happy and healthy 2009!

Join us on LinkedIn
Collaboration amongst peers is one of the most important benefits to being part of the Business Incubator Center community. To help enrich this aspect of the program, we would like to suggest that if you are not already a user of the social networking site LinkedIn, please consider joining! The Business Incubator Center now has a group on LinkedIn, and we would like to invite all of you to join us. The more people who are in the group, the more valuable a resource it will become to the Business Incubator Center community. As the community grows, you will be able to find colleagues who may be in similar industries or facing similar growth issues, and it will serve as just one more way that the community can help businesses grow and prosper.
The Business Incubator Centerhttp://www.linkedin.com/e/vgh/1554637/
To learn more about how to use LinkedIn to help grow your business go to: http://learn.linkedin.com/entrepreneurs/

TOASTMASTERS: Become the Speaker & Leader You Want to Be
Join us as the downtown Toastmasters meeting moves to the Incubator Campus! Toastmasters participants practice and learn skills by filling a meeting role, ranging from giving a prepared speech or an impromptu one to serving as timer, evaluator or grammarian. There is no instructor; instead, each speech and meeting is critiqued by a member in a positive manner, focusing on what was done right and what could be improved.
Good communicators tend to be good leaders. Incubator Clients are welcome! Attend a meeting or two to observe and participate as much as you like, but membership is required for additional participation.
When: Every Thursday at noon
Where: in the Training Room

Video Lab Training Session
Topic: Learn to use the new video lab…and make better use of your website.
When: Call Chris to schedule a time
Where: in the video lab on the second floor of the technology building

What Matters Most: Values-Based Approach to Time and Life Management
Achieve what matters most and gain better control of your personal and professional life through values-based time and life management skills. What Matters Most is adapted from the work of Steven Covey, a recognized expert in time and life management. This class will help you focus on your personal values and priorities, then execute around those priorities. The principles and processes we’ll discuss can help set your course for a more successful and fulfilling life. Cost: $69.
When: Tuesday, January 13 from 8:30 AM - 12:00 PM

LEADING EDGE – Business Plan Development Program
The Leading Edge Program is an intensive training course that provides business owners and entrepreneurs with expert guidance in the areas of cash flow management, marketing, finance, personnel, legal issues, and more. Each participant will receive hands-on assistance in preparing a complete business plan. Tuition is $275, and includes the NXLEVEL Guide for Entrepreneurs and the NXLEVEL Business Plan Workbook and Resource Guide.
When: February 10th to May 12th
12 Sessions
Tuesdays from 6:00 – 9:00 PM

Business Incubator Center NEWS

2008-09-22T10:05:00.000-06:00

Western Colorado Venture Forum
Thursday, October 2nd
Two Rivers Convention Center

Discounted registration for Incubator Program participants: $40 for the full-day of training, $40 for the banquet, or $75 for both.

This year’s theme is “Money Day” and will feature a day of Training for Entrepreneurs, the Elevator Pitch Competition, and the Annual Banquet.

Training for Entrepreneurs
9:00am to 4:00pm
In these somewhat uncertain economic times learning how to avoid pitfalls and brushing up on your business skills is imperative. This is a perfect opportunity for start-up or existing business owners and managers to learn about doing business on the Western Slope. If you are just starting out, “Track A” includes How to Start a Business, Bookkeeping Basics, and Understanding Cash Flow. If you are already in business “Track B” includes Tax Strategies, Advanced Bookkeeping, Cash Management and Finance 101.

Elevator Pitch
4:30pm
During this year’s event five companies will give their “Elevator Pitch” to a panel of esteemed judges. The winner will receive a $1,000 cash prize! The Elevator Pitch Competition has become a favorite activity of the Venture Forum.

What is an Elevator Pitch? An ‘Elevator Pitch” is a quick, concise way to communicate who you are, what you are trying to do, and how your goods or services can offer value to customers. The succinct overview is designed to capture interest and encourage further dialogue. Examples of targets for the Elevator Pitch are potential customers, investors, suppliers or employees.

The Venture Forum Banquet
6:00pm
Join us in a Celebration of Entrepreneurship in the Grand Valley! We’ll start out with a Cocktail Reception and Dinner so you have time to relax and network with new business people or catch up with old friends. Then join us in welcoming James Saad of Movers Suite Software as our keynote speaker. He has quite a story to tell about the true entrepreneurial spirit! We’ll wrap-up the evening with an Incubator Client Company Graduation Celebration and the announcement of the Elevator Pitch Winner. This will be a wonderful evening of sharing ideas and experiences with friends and colleagues – both old and new!

Discounted registration for Incubator Program participants: $40 for the full-day of training, $40 for the banquet, or $75 for both.

News….

Connect emotionally to prevent turnover
To help staunch turnover, leaders need to connect emotionally with their management teams. Exit interviews conducted by an impartial interviewer can provide bosses with a wealth of information about how they need to interact with staff so as to encourage them to stay with the organization. CEO Strategist

Angel Capital Summit * Rockies Venture Club * November 21 in Denver
The Rockies Venture Club is soliciting presenters for the second annual ANGEL CAPITAL SUMMIT, one of the largest early-stage investment gatherings in the country. The Summit will feature the smartest investors and the most innovative entrepreneurs in the Rocky Mountain Region, with an anticipated audience of over 500 entrepreneurs, private investors and service professionals. If you are looking to grow your business, this is the event you simply cannot miss. RVC is currently soliciting entrepreneurs who would like to present on their company at the conference. This unique process helps entrepreneurs and investors objectively see strengths and weak spots. In addition to other benefits, entrepreneurs can tighten their business concept before submitting a final nomination. Read about how to apply, how the selection process works, what happens if you are selected and your commitments. To apply, go to angelcapitalsummit.org.

RVC: Angel Capital Summit

2008-09-19T10:08:00.000-06:00

CALL FOR PRESENTERS
Entrepreneurship relies on one simple thing: support... support in the way of money and in the way of real world advice and input all geared to help early-stage ventures succeed. The Rockies Venture Club, Colorado's premier entrepreneurial networking organization, has celebrated over two decades supporting the spirit of entrepreneurship and in helping to launch countless start-up businesses.

The Rockies Venture Club is proud to announce it is soliciting presenters for the second annual ANGEL CAPITAL SUMMIT, one of the largest early-stage investment gatherings in the country. The Summit will feature the smartest investors and the most innovative entrepreneurs in the Rocky Mountain Region, with an anticipated audience of over 500 entrepreneurs, private investors and service professionals. If you are looking to grow your business, this is the event you simply cannot miss.

Why Entrepreneurs Should Apply
We don't simply review each nomination, then "pick the winners." Our unique process helps entrepreneurs and investors objectively see strengths and weak spots. In addition to other benefits, entrepreneurs can tighten their business concept before submitting a final nomination.Read about how to apply, how the selection process works, what happens if you are selected and your commitments.

Get Started
To apply, go to angelcapitalsummit.org. There, you will find step-by-step instructions. Make sure your apply through the RVC group. The RVC will be notified automatically when you submit your application. You must submit your application by Friday, October 10. You will be notified early the following week whether you have been selected to audition in front of our screening committee. The screening committee will hold auditions between October 22nd and 24th. Please keep those dates open on your calendar. After presenting to the RVC screening committee, the RVC will pass along its final selections to the ACS Executive Screening Team who will then choose the companies to present at the ACS. There is no fee to apply. However, once selected to present, companies will be required to submit a registration form and a $300/$350 fee (members/non-members). There will be a mandatory "pitch practice" one week before the event.For information on Rockies Venture Club visit www.rockiesventureclub.org. Questions?

Call the RVC office at 303.831.4174, or visit www.angelcapitalsummit.org.

Business Incubator Center NEWS

2008-08-29T15:00:00.000-06:00

Stanford Offers Entrepreneurship Podcasts and Video Clips
The Stanford Technology Ventures Program (STVP) in the School of Engineering at Stanford University continues to host a website with more than 1,200 free, high-quality podcasts and video clips of entrepreneurial thought leaders from Silicon Valley and beyond. The Entrepreneurship Corner (ECorner), sponsored in part by the Ewing Marion Kauffman Foundation, features clips recorded during guest lectures at Stanford University. More than 200 speakers, including Mark Zuckerberg of Facebook and Carly Fiorina, the former CEO of HP, offer insights on the following: creativity and innovation; opportunity recognition; finance and venture capital; leadership and adversity; and, other related topics. http://ecorner.stanford.edu .

Five tips for successful entrepreneurs
Five entrepreneurial "life skills" are detailed in this Small Business Trends blog. Among the wisdom are these gems: Stop being a control freak, consider a problem before going to bed so your subconscious works it out in your sleep, and expand a business incrementally to avoid wasting time and money on the wrong endeavors. Small Business Trends

Before you terminate someone, know when you can
The increasing number of lawsuits filed by employees after they've been terminated makes it difficult to know when you can legally fire someone. This piece lays out some general guidelines and says you're generally protected if you fire someone for consistent incompetence, repeated unexcused absenteeism or meaningful violation of company policy. The New York Times/AllBusiness.com

8th Annual Western Colorado
Venture Forum
Thursday October 2, 2008

Elevator Pitch Competition – Cash Prize $1,000!!!!
Elevator Pitch - A quick, concise way to communicate who you are, what you are trying to do, and how your goods or services can offer value to customers. The succinct overview is designed to capture interest and encourage further dialogue. Examples of targets for the Elevator Pitch are potential customers, investors, suppliers or employees.

Please keep your pitch to 90 seconds! No props are allowed. Use the criteria listed below to prepare your pitch. Do not omit or add – you will all be judged on the same criteria. If you could use some practice, we have two “dry run” opportunities scheduled. Dry runs will take place on Friday, September 12 and Monday, September 15, at 2:30 p.m. in the Training Room at the Business Incubator Center. Please let us know if you plan to attend.

Upcoming Workshops at the Incubator….
Understanding Bookkeeping & Financial Statements
Session I
This class is designed for new business start-ups and focuses on how to set up business accounting records, how to track income and expenses and what types of expenses are deductible.
When: Wednesday, Sept 10 from 1:00-4:00 PM
Session II
This class help you gain better control of your business by learning how balance sheets, income statements and cash flow projections are prepared and what they can tell you about your business. Cost is $45.00 per class or $55.00 when you register for both bookkeeping classes.
When: Thursday, Sept 11 from 1:00-4:00 PM

Business Incubator Center NEWS

2008-08-11T10:12:00.001-06:00

Pre-screening potential employees is a click away
Businesses are utilizing social networks such as LinkedIn, Facebook and MySpace to find the best and brightest employees. Internet search tools are free; however, companies can access prospective employees' criminal records, address history, sex offenses and marriage records through the Internet for a fee. Snow Magazine/NFIB.com

The 7 Elements of a Viral Video Campaign, by Jerry Bader
With the overwhelming number of websites, blogs, social networking sites and other media platforms being utilized by brands on the Internet to reach consumers, establishing differentiation from the competition is more difficult than ever. However, by following the seven elements to a viral video campaigns detailed in this white paper, brands can gain a competitive advantage by embracing the full potential of emerging technologies and online marketing strategies. Brand Channel

Credit card competition gives boost to startups
Credit card companies and banks have been pursuing small business because the consumer market is saturated. The competition is good news for entrepreneurs who may launch new businesses by raising capital through credit card charges as conventional lending continues to be tight. The Wall Street Journal

Campus Life….

Client Company Lunch
Topic: The Public Safety Initiative
Speakers: Deputy Police Chief Troy Smith
Project Manager Jim Shanks
Police Officer and member of the Police Officers Association Suzette Freidenberger
City Councilmember Teresa Coons
Where & When: Tuesday, August 19 at noon in the training room

Upcoming Workshops at the Incubator….

LEADING EDGE – Business Plan Development Program
The Leading Edge Program is an intensive training course that provides business owners and entrepreneurs with expert guidance in the areas of cash flow management, marketing, finance, personnel, legal issues, and more. Each participant will receive hands-on assistance in preparing a complete business plan. Tuition is $275, and includes the NXLEVEL Guide for Entrepreneurs and the NXLEVEL Business Plan Workbook and Resource Guide.
When: August 26 to November 18
12 Sessions
Tuesdays from 6:00 – 9:00 PM

Taxes and the Small Business Owner
Simple answers to business tax issues. Topics include: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In addition, the course covers state withholding taxes, sales tax issues and unemployment and use tax. Cost: $45.
When: Thursday, August 14 from 9:00 AM - 5:00 PM

Understanding Bookkeeping & Financial Statements
Session I
This class is designed for new business start-ups and focuses on how to set up business accounting records, how to track income and expenses and what types of expenses are deductible.
When: Wednesday, Sept 10 from 1:00-4:00 PM
Session II
This class help you gain better control of your business by learning how balance sheets, income statements and cash flow projections are prepared and what they can tell you about your business. Cost is $45.00 per class or $55.00 when you register for both bookkeeping classes.
When: Thursday, Sept 11 from 1:00-4:00 PM

Additional upcoming workshops….

Wells Fargo / Financial Management for the Closely Held Business
Businesses face tough challenges and unique opportunities. They key to financial success or failure during these challenges and opportunities lies in the decisions made by the owners and operators on the business. Now you can learn to better manage and control company finances through business-tested financial management techniques and turn better decisions into maximized profits.
This two day seminar explains, in simple, clear, language, what financial management is, why it can greatly improve your profitability and how you can effectively communicate with financial advisors.
When: August 12 & 13, 2008 8:00am to 5:00pm
Cost: $300
Where: The Double Tree Hotel 743 Horizon Drive
Registration: call (970) 248-4830

Business Incubator Center NEWS

2008-07-28T10:41:00.000-06:00

Grand Junction weathers slowdown after boom times By David Lewis
The home-sales outlook in Grand Junction and its satellite towns of Fruita, Clifton, Palisade, Mack and Loma seems to be teetering away from optimism these days, a strange sensation in a market that has been so robust for so long. ColoradoBiz

Next Steps in Open Innovation
Open innovation—once championed nearly exclusively by forward-thinking web geeks—is becoming an increasingly popular concept in mainstream circles. Companies like Procter & Gamble are opening their product development processes so that customers and other partners can offer their ideas and input. Some companies are now moving beyond this basic concept to an even more open process known as “distributed cocreation.” This model, profiled in a new McKinsey Quarterly article, is being effectively deployed by LEGO toys and by the Threadless t-shirt company. The Threadless approach is instructive. Anyone can develop his or her own t-shirt design. Website visitors vote on their preferred designs, and the top vote getters move into production. Other firms, like Wikipedia and Red Hat, also employ variants of this approach. McKinsey researchers believe more traditional firms can also deploy this model as long as they can identify ways to motivate outside co-creators, and structure problems and governance mechanisms in way that promotes participation in collaborative problem solving. Access the June 2008 McKinsey Quarterly article, “The Next Step in Open Innovation,” by Jacques Bughin, Vincent Choi, and Brad Johnson.

Lawn service provides cuts on demand
Kevin Malarney has been so successful with his on-demand lawn-cutting service in Grand Rapids, Mich., that he is offering Cut Only franchises. Cut Only targets people who cannot afford a lawn service but want their lawns cut when needed. Customers call in to get their home on the schedule and hang a flag on their door with a payment. Then a Cut Only crew member swings by to cut and trim the lawn. PRO Magazine

Tips for letting employees go gracefully
There's an art to letting employees go from startups gracefully, and a key is to focus on the future. One way to start is to let the worker know that you understand how difficult it is to be in a startup company and let them know the door is always open for them to come back. American City Business Journals

Social networking creates endless connections for business
The water cooler just isn’t what it used to be. Nowadays, office gossip isn’t the only game in town, with a slew of social-networking websites offering users the means to create a custom profile and instantly communicate with friends — real and imagined — all over the world. ColoradoBiz

Networking sites add new voice for small businesses
Small businesses are combining forces in social-networking sites to boost their profiles and share information about their niches. Creating a successful network site involves picking the appropriate format, attracting users and bringing them back, and keeping the content fresh. The Wall Street Journal/Independent Street blog

Campus Life….

Client Company Lunch
Speaker: City of Grand Junction
Topic: The Public Safety Initiative.
Where & When: Tuesday, August 19 at noon in the training room

Upcoming Workshops at the Incubator….

LEADING EDGE – Business Plan Development Program
The Leading Edge Program is an intensive training course that provides business owners and entrepreneurs with expert guidance in the areas of cash flow management, marketing, finance, personnel, legal issues, and more. Each participant will receive hands-on assistance in preparing a complete business plan. Tuition is $275, and includes the NXLEVEL Guide for Entrepreneurs and the NXLEVEL Business Plan Workbook and Resource Guide.
When: August 26 to November 18 / 12 Sessions
Tuesdays from 6:00 – 9:00 PM

Taxes and the Small Business Owner
Simple answers to business tax issues. Topics include: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In addition, the course covers state withholding taxes, sales tax issues and unemployment and use tax. Cost: $45.
When: Thursday, August 14 from 9:00 AM - 5:00 PM

Understanding Bookkeeping & Financial Statements
Session I
This class is designed for new business start-ups and focuses on how to set up business accounting records, how to track income and expenses and what types of expenses are deductible.
When: Wednesday, Sept 10 from 1:00-4:00 PM
Session II
This class help you gain better control of your business by learning how balance sheets, income statements and cash flow projections are prepared and what they can tell you about your business. Cost is $45.00 per class or $55.00 when you register for both bookkeeping classes.
When: Thursday, Sept 11 from 1:00-4:00 PM

Additional upcoming workshops….

Wells Fargo / Financial Management for the Closely Held Business
Businesses face tough challenges and unique opportunities. They key to financial success or failure during these challenges and opportunities lies in the decisions made by the owners and operators on the business. Now you can learn to better manage and control company finances through business-tested financial management techniques and turn better decisions into maximized profits.
This two day seminar explains, in simple, clear, language, what financial management is, why it can greatly improve your profitability and how you can effectively communicate with financial advisors.
When: August 12 & 13, 2008 8:00am to 5:00pm
Cost: $300
Where: The Double Tree Hotel 743 Horizon Drive
Registration: call (970) 248-4830

Business Incubator Center NEWS

2008-07-14T14:37:00.000-06:00

Effective entrepreneurship
What do Steve Ells of Chipotle and the founders of Starbucks have in common? “Life entrepreneurship.” By Gregg Vanourek and Christopher Gergen CO Biz Magazine

Entrepreneurs can get help from their peers
Entrepreneurs who are struggling to implement their ideas can gain from a peer network, taking advantage of lessons learned by those who already have started small businesses. In Chicago, for example, more than 600 chief executives and business owners are taking advantage of peer experience through Vistage International. Chicago Tribune

Myths about financing hinder some startups at outset
Many people who want to start a small business reject the idea because of false beliefs about startup financing, says Scott Shane at Kiplinger.com. Shane says some common myths are startups need a lot of money, venture capitalists invest in entrepreneurs and banks will not lend money to new companies. Akron Beacon Journal (Ohio)

Advice: Be proactive in breaking gender, race barriers
Women and minority entrepreneurs have to be proactive to get over barriers to gender, racial and age obstacles. USA TODAY columnist Gladys Edmunds recommends business owners follow the example set by abolitionist Harriet Tubman: develop a support system, ask for more opportunities and help other businesses break barriers too. USA TODAY

Campus Life….

Client Company Lunch
Speaker: Bill Heller, Operations Manager, Occidental Oil & Gas Company
Topic: The Energy Industry, and a “from the field” view of the growth of that sector.
Bill’s practical, real-world perspective on what is really happening in the field should be extremely valuable in helping all of us understand the drivers shaping our economy. As the energy industry has such a significant impact on our local economy and, in turn, impacts the viability of so many new business ventures, this will be a very valuable presentation.
Where & When: Tuesday, July 15 at noon in the training room
Food: Lee Mathis & Shelli Mayo – another sneak-preview of their menu for the “Feast in the Fields” Event

Upcoming Workshops at the Incubator….

Human Resource Management 101
Finding and retaining employees is a hot topic in the Grand Valley these days. With unemployment low, wages climbing and increased competition, it is more important than ever to make sure you have your company’s human resource function performing to its highest potential.
Get your ducks in a row and make sure your policies and procedures are optimized to best serve your bottom line. Be ready to hire and train new talent, and have strategies in place to retain your top performers. Understand how clear communication, skill development and positive company culture are management practices that successful companies use to outperform the competition. Cost: $55.00 and includes continental breakfast.
SEMINAR AGENDA
· Bechtel & Santo, LLP will discuss contents and maintenance of personnel files, including written reprimands and performance appraisals.
· Autopaychecks Inc. will present payroll and benefits taxation.
· Global Rainmakers will discuss retaining employees in a tight labor market.
When: Thursday, July 17 from 8:30 – 11:30 AM

Additional upcoming workshops….

QuickBooks Pro 2008
- QuickBooks Pro Basic (Part 1)
When: Friday, July 24 from 9:00 AM – 4:00 PM
- QuickBooks Pro Basic (Part 2)
When: Saturday, July 25 from 9:00 AM – 4:00 PM
Cost: $145
Where: Mesa County Workforce Center
2897 North Avenue
Grand Junction, CO 81501
970-257-2215

Business Incubator Center NEWS

2008-06-27T14:48:00.000-06:00

Distinguish yourself from competitors
Position your organization in your customer's mind with these five easy steps: assess your current position; figure out what you want your customers to perceive about your company; define your target market; look at current trends; and formulate the four levels that will dictate your positioning strategy. BusinessWeek

Small firms need to hire people who fit company culture
The culture of a small business depends a good deal on the owner, says John Challenger, CEO of Challenger, Gray & Christmas in Chicago. When hiring, consider that employees will be more successful if they fit into the culture of the company, he says. BusinessWeek/Today's Tip

Small vintners weather capital-intensive business
The expense, long-term outlook and dependency on nature make wine making a risky business, but a number of new entrepreneurs have succeeded. Wineries are capital-intensive because it takes years to develop a wine before it can be sold, says Cathy Corison, owner of Corison Winery in California's Napa Valley. Entrepreneur.com

Twitter, meetups and tweetups
Don’t hide behind your computer screen. Use social networking to get out there and meet your next customer (or mentor or employee). By Rob and Kristie McNealy Colorado Biz

Campus Life….

Client Company Lunch
Speaker: Bill Heller, Operations Manager, Occidental Oil & Gas Company
Topic: The Energy Industry, and a “from the field” view of the growth of that sector.
Bill’s practical, real-world perspective on what is really happening in the field should be extremely valuable in helping all of us understand the drivers shaping our economy. As the energy industry has such a significant impact on our local economy and, in turn, impacts the viability of so many new business ventures, this will be a very valuable presentation.
Where & When: Tuesday, July 15 at noon in the training room
Food: Lee Mathis & Shelli Mayo – another sneak-preview of their menu for the “Feast in the Fields” Event

Upcoming Workshops at the Incubator….

Human Resource Management 101
Finding and retaining employees is a hot topic in the Grand Valley these days. With unemployment low, wages climbing and increased competition, it is more important than ever to make sure you have your company’s human resource function performing to its highest potential.
Get your ducks in a row and make sure your policies and procedures are optimized to best serve your bottom line. Be ready to hire and train new talent, and have strategies in place to retain your top performers. Understand how clear communication, skill development and positive company culture are management practices that successful companies use to outperform the competition. Cost: $55.00 and includes continental breakfast.
SEMINAR AGENDA
· Bechtel & Santo, LLP will discuss contents and maintenance of personnel files, including written reprimands and performance appraisals.
· Autopaychecks Inc. will present payroll and benefits taxation.
· Global Rainmakers will discuss retaining employees in a tight labor market.
When: Thursday, July 17 from 8:30 – 11:30 AM

Additional upcoming workshops….

QuickBooks Pro 2008
- QuickBooks Pro Basic (Part 1)
When: Friday, July 24 from 9:00 AM – 4:00 PM
- QuickBooks Pro Basic (Part 2)
When: Saturday, July 25 from 9:00 AM – 4:00 PM
Cost: $145
Where: Mesa County Workforce Center
2897 North Avenue
Grand Junction, CO 81501
970-257-2215

2008-06-13T14:51:00.000-06:00

Executive Edge: Konrad Krauland
Textile manufacturer finds PowerPro fishing line is his biggest catch. By Bob Kretschman ColoradoBiz

Setting the right price for your product
New retailers will discover that there is no universally accepted "right price" for a specific product. Establishing a retail price requires striking a balance between a price that is too high to be competitive or affordable, and a price that is too low to be profitable. MSNBC/Entrepreneur.com

Failure to delegate can sink growth plans
One of the biggest obstacles many entrepreneurs face is their own unwillingness to delegate, says Romanus Wolter, the author of "Kick Start Your Success" and "Kick Start Your Dream Business." Wolter offers several tips on how to take advantage of other people's skills including trusting colleagues in areas where the entrepreneur is weaker, experiment by assigning tasks to others and building a team by sharing the vision for the company. Entrepreneur

A Practical Guide to Branding
Define your brand identity—your product's "personality"—before you spend a dime on advertising or marketing. BusinessWeek

Innovative shippers use strategies to weather downturn
Good shippers are responding to the tough economy and soaring gas prices by changing the way they go to market. The truly innovative firms are using a combination of strategies and partnerships to weather the storm. Logistics Management

Showing how social networks work for your business
There are simple ways to use social networks such as LinkedIn, Facebook, and MySpace to your business's advantage. Using these networks by posting news and information, finding talent or even doing research on potential employees increases attention to your business and reaches new audiences. BusinessWeek/Today's Tip

Campus Life….

Client Company Lunch
Speaker: Steve Thompson - What to expect when you leave the Incubator: Construction Management and Site Development
Where & When: Tuesday, May 20 at noon in the training room
Food: Lee Mathis & Shelli Mayo – a special sneak-preview of his menu for the “Feast in the Fields” Event
Lunch Menu:
Spring Salad w/ a Balsamic Dressing
Bloody Mary Shrimp Empanadas with Peach Salsa
Curried Chicken w/ Peaches
Cheesecake Bytes

No TAB this month

Upcoming Workshops at the Incubator….

Taxes and the Small Business Owner
Simple answers to business tax issues. To start, Pamela J. Belcher CPA will discuss such topics as: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In the afternoon, Colorado Department of Revenue representative Bruce Kolisek, as well as representatives from the Department of Labor Employment, will discuss state withholding taxes, sales tax issue and unemployment and use tax. Cost: $45.
When: Thursday, June 19 from 9:00 AM - 5:00 PM

Business Incubator Center NEWS

2008-06-02T14:55:00.000-06:00

Prices for sale of small businesses drop
Prices seem to be softening for business owners who have put their companies up for sale this year. Analysts say tighter credit standards, increased costs and a loss of customers are to blame. The New York Times

Rock stars can be role models for business leaders
Rock stars have more in common with business leaders than some may think, and they can serve as valuable models. They show that optimal performance requires exceptional dedication to practice and a tremendous thirst for learning. BusinessWeek

Grape Expectations
Piero Incisa della Rocchetta is the export manager for the Tuscan wine brand, Tenuta San Guido, known for its Super-Tuscan (Sassicaia) wines that go for hundreds or thousands of dollars a bottle. In our interview, he discusses how he goes about branding Tenuta San Guido on a worldwide scale and how that compares to his small, family vineyard. Brand Channel

Peer mentors offer productive partnerships
Peer mentors can be highly useful for entrepreneurs as sources of motivation and as trusted colleagues in whom to confide. Three relationships described in this article show how peer partnerships can come in many forms and offer extensive benefits. Entrepreneur.com

Upcoming Workshops at the Incubator….

USDA Rural Development Renewable Energy & Energy Efficiency Grant Program
Pattie Snidow, the Northwest Area Director for USDA Rural Development will be leading this seminar for private sector small businesses in rural towns of population of 50,000 or less, or agriculture producers. This grant program covers energy efficiency upgrades to commercial building or installation of market proven products for Renewable Energy for up to 25% of the total project cost.
Maximum Grant - Energy Efficiency $250,000 / Renewable Energy $500,000
In addition, loan guarantees with your local bank could be available to support most of the project.
When: Thursday, June 5 from 1:00 - 5:00 PM

Understanding Bookkeeping & Financial Statements
Instructor Helen Roe works with the Loan Fund of Mesa County and was recognized as the 2005-06 Outstanding Woman Accountant by the American Society of Women Accountants. Both classes include a question and answer period. Take advantage of this opportunity to have Helen address your specific questions! Cost is $45.00 per class or $55.00 when you register for both bookkeeping classes.
Session I
This class is designed for new business start-ups and focuses on how to set up business accounting records, how to track income and expenses and what types of expenses are deductible.
When: Wednesday, June 11 from 1:00-4:00 PM
Session II
This class, designed for new and existing businesses, will help you gain better control of your business by learning how balance sheets, income statements and cash flow projections are prepared and what they can tell you about your business.
When: Thursday, June 12, from 1:00-4:00 PM

Taxes and the Small Business Owner
Simple answers to business tax issues. To start, Pamela J. Belcher CPA will discuss such topics as: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In the afternoon, Colorado Department of Revenue representative Bruce Kolisek, as well as representatives from the Department of Labor Employment, will discuss state withholding taxes, sales tax issue and unemployment and use tax. Cost: $45.
When: Thursday, June 19 from 9:00 AM - 5:00 PM

How to Start Food-Related a Business
Come learn all the basics of starting a food related business. You will learn about health regulations, packaging requirements, licensing requirements, business planning and how to fund it all. Cost: $45.
When: Thursday, June 26 from 9:00 - 11:30 AM

Excerpt from the Incubator Handbook….

Program Requirements:
Client Companies agree to participate in the Incubator Program, which includes a commitment to:

Complete a Business Plan within the first 2 years of occupancy. Assistance in completing the Business Plan is available through the aforementioned Management Assistance program.
Meet, at a minimum, semi-annually with BIC staff and provide them with up-to-date financial statements for the purpose of evaluating ICC’s financial performance and reporting aggregate numbers.
Attend, at minimum, one business related class or workshop per year.
Attend, at a minimum, seven networking events per year such as the monthly Client Lunch.

Business Incubator Center NEWS

2008-05-16T08:51:00.000-06:00

May 11, 2008

Grand Junction MSA Strong In Economic Prosperity
The 2008 Aelera Regional Economic Prosperity Index (REPI) ranked the Grand Junction Metropolitan Statistical Area (MSA) 34th in the country for economic prosperity. The Grand Junction MSA's strong performance in employment growth, output growth, wage growth and unemployment rates, contributed to its high ranking on the Index.

The Grand Junction area economy performed significantly below average in indicators designed to measure the areas future competitive position. One such indicator, 'Young Knowledge Workers,' measures the percentage of population aged 25 -35 with a bachelor's degree or higher. Another measure, the 'Knowledge Economy' indicator, examines the percentage of workforce employed in "knowledge-intensive occupations".

According to Ann Driggers of GJEP, 'this report gives us plenty of good news, but at the same time demonstrates that we have much yet to accomplish to create a truly strong, diverse and sustainable economy. In order to do this we need to focus our attentions on growing the industries and job opportunities of the future, specifically those in a knowledge-based economy".

To view the full report follow this link: 2008 Aelera Regional Economic Prosperity Index

Moms set to juggle time, roles when they run a business
Mothers who quit their work and start businesses usually do it out of consideration for their families, not for personal reasons, says USA TODAY columnist Steve Strauss. A few mothers who have taken the leap into entrepreneurship shared their stories with Strauss. USA TODAY

Grand Junction: 9th Fastest Growing Population in the U.S.

Grand Junction: A Top Winter 2008 Jet-Setting Destination

Campus Life….

People Choice Award WINNER
Please join us in congratulating Katie Brierly of Guera's Chili on her First Place award at the Arbor Day Chili Cook-Off at the Lincoln Park Barn. If you have not already tried Katie’s Chili, you are missing out. We love it!

No TAB this month

Client Company Lunch
Topic: Video for your website: How to use it, Where to use it, and Why to use it.
Speaker: Joel Leon
Where & When: Tuesday, May 20 at noon in the training room

Upcoming Workshops at the Incubator….

How to Start Construction-Related a Business
Want to know what the Planning Department requires for a contractor’s license? Bob Lee Director of the City/County Building Department can tell you how to get your license and become a building contractor. Julie Morey will address licensing requirements, the business planning process and how to apply for a business loan. Cost: $45.
When: Thursday, May 22 from 9:00 - 11:30 AM

USDA Rural Development Renewable Energy & Energy Efficiency Grant Program
Pattie Snidow, the Northwest Area Director for USDA Rural Development will be leading this seminar for private sector small businesses in rural towns of population of 50,000 or less, or agriculture producers. This grant program covers energy efficiency upgrades to commercial building or installation of market proven products for Renewable Energy for up to 25% of the total project cost.
Maximum Grant - Energy Efficiency $250,000 / Renewable Energy $500,000
In addition, loan guarantees with your local bank could be available to support most of the project.
When: Thursday, June 5 from 1:00 - 5:00 PM

Understanding Bookkeeping & Financial Statements
Instructor Helen Roe works with the Loan Fund of Mesa County and was recognized as the 2005-06 Outstanding Woman Accountant by the American Society of Women Accountants. Both classes include a question and answer period. Take advantage of this opportunity to have Helen address your specific questions! Cost is $45.00 per class or $55.00 when you register for both bookkeeping classes.
Session I
This class is designed for new business start-ups and focuses on how to set up business accounting records, how to track income and expenses and what types of expenses are deductible.
When: Wednesday, June 11 from 1:00-4:00 PM
Session II
This class, designed for new and existing businesses, will help you gain better control of your business by learning how balance sheets, income statements and cash flow projections are prepared and what they can tell you about your business.
When: Thursday, June 12, from 1:00-4:00 PM

Taxes and the Small Business Owner
Simple answers to business tax issues. To start, Pamela J. Belcher CPA will discuss such topics as: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In the afternoon, Colorado Department of Revenue representative Bruce Kolisek, as well as representatives from the Department of Labor Employment, will discuss state withholding taxes, sales tax issue and unemployment and use tax. Cost: $45.
When: Thursday, June 19 from 9:00 AM - 5:00 PM

How to Start Food-Related a Business
Come learn all the basics of starting a food related business. You will learn about health regulations, packaging requirements, licensing requirements, business planning and how to fund it all. Cost: $45.
When: Thursday, June 26 from 9:00 - 11:30 AM

2008-04-21T14:34:00.000-06:00

Business Incubator Center NEWS April 21, 2008

Campus life….

It’s Spring Cleaning Week!
As part of our annual “dump week”, we have extra trash bins and recycling options for everyone. E-mail Helen Roe (hroe@gjincubator.org) if you have paper shredding needs!

Business news….

Tips for generating word-of-mouth sales
The owner of a successful candle company offers a list of six tips for generating word-of-mouth buzz about your company. The tips include cultivating key talkers; sending out samples of your product; and simply creating a fantastic product that is buzz-worthy MarketingProfs/Daily Fix blog

Eight tips can help in getting past "hello"
A list of eight tips for overcoming social anxiety and feeling comfortable in making the first move in a sales situation include making the conversation all about the other person's thoughts and listening intently to their responses. Another tip is to rehearse icebreakers with a friend before going to a meeting or gathering. Forbes

Tips: How to get customers to refer their friends to you
Small-business owners say referrals are the way they generate most new business but they don't seem to have systematic approach to receiving referrals, says John Jantsch at ducttapemarketing.com. Small-business consultant Denise O'Berry offers tips on how to get customers to refer your business to people they know. The New York Times

New food businesses get B2B help in rented kitchens
Commercial kitchen rental companies have put a for-profit spin on incubators of new food businesses. Entrepreneurs like the owners of Kitchen For Hire in Brooklyn are helping other aspiring business owners -- many who are newly unemployed -- start up by getting them out of their small home kitchens and into larger facilities. The News & Observer (Raleigh, N.C.)

Advice: How to get a natural food product on the shelf
A small business that has developed a natural food line needs to start locally in trying to get the line on grocery store shelves, advises Fortune Small Business. Start with a shopping trip to a local independent store to make sure the product is different from what the store has and study prices of other products in the store, says Bob Burke of Natural Products Consulting. CNNmoney.com/Fortune Small Business

Please let me know if you have any questions.
Talk to you soon,
Chris

Chris Reddin
Executive Director
Business Incubator Center
2591 B 3/4 RoadGrand Junction, CO 81503
creddin@gjincubator.org
ph: 970.243.5242
www.gjincubator.org

Celebrating 20 years as the Grand Valley’s Center for Entrepreneurship - Explore, Enrich, and Expand.

News - April 8

2008-04-08T10:43:00.000-06:00

Business Incubator Center NEWS April 8, 2008

Small U.S. Firms Make Big Global Sales
A rising wave of U.S. small businesses and start-ups are going cross-border and selling hundreds of billions of dollars in goods and services to Asia, Canada, Latin America, Europe and Africa.. "Exports are the underrecognized opportunity for many American small businesses," says SBA Administrator Steve Preston. USA TODAY

Small Firms Find Credit Is Tightening
Lenders’ credit woes are starting to take a toll on small businesses. Though it may be too early to determine how hard small businesses will be hit, some national surveys show that the businesses are encountering more restrictions at lending institutions, making it harder to get the credit necessary to expand or, in some cases, stay afloat.. The New York Times

Key Words Assure Message Will Be Understood
Discovering the key words and phrases your customers use is important to getting a message across in a press release. To figure out what these words are, use online keyword research tools, look at the words your competition is using, avoid jargon and test them out by entering them into a search engine. MSNBC/Entrepreneur

60-Second Guide to Collecting Payments
Collecting late payments is a downside of being an entrepreneur, but establishing operating procedures can make the task easier to do. Experts advise setting policies to prevent late payments and consistently enforcing a late policy. Entrepreneur

Campus Life….

TAB
The Alternative Board (TAB) hosts monthly and are facilitated by Bill Vrettos. While BIC offers this program at no cost to Client Companies, normal TAB participation costs $500 per month. Please take advantage!
Topic: "Time Wasters"
Where & When: Wednesday, April 9 at 1:30pm in the small conference room.

Client Company Lunch
Topic: So you have a website up and running, now what? How to generate value from this marketing tool.
Speaker: Andrew BE, Elegant Technologies - http://www.elegantwebsitedesign.com/
Where & When: Tuesday, April 15 at noon in the training room

Spring Cleaning Week
As the weather warms, it is time to think about spring cleaning again. As part of our annual “dump week”, we will have extra trash bins and recycling options for everyone. We will also have a work crew from the Sherriff’s Department here on April 12th to clean the grounds. New this year will be a paper shredding option!
When: The week of April 21st

Upcoming Workshops at the Incubator….

Learn How To Protect Your Invention / Idea / Logo
Are you an inventor, artist or writer? Do you have a new company name or logo? Have you designed a new technology? Come learn from the pros how to protect your intellectual property through trademarks, patents and copyrights. Presented by David F. Dockery, Attorney At Law, Marsh Fischmann & Breyfogle, LLP who specializes on the formulation and execution of technology and identity protection strategies. Cost, includes lunch: $55.
When: Friday, April 18, 9 AM to 5 PM

Upcoming Events….

Entrepreneurship Day at Mesa State
An entire day of great presentations on a variety of topics including:
· Panel discussions by local entrepreneurs
· Breakout sessions on entrepreneurship
· A banquet honoring Entrepreneur of the Year
When: Thursday, April 10, 9 AM to 9 PM
Where: W.W. Campbell College Center at Mesa State
Banquet Tickets: $27.50 per person

The Women’s Foundation of Colorado – A Luncheon Honoring Women
This Annual event honors local women for their leadership and contribution to the community. This year’s honorees are Judy Burford (former Chair of the Mesa County Republican Party), Kellie Caldwell (Supper Solutions) and Christy Whitney (CEO, Hospice and Palliative Care of Western Colorado).
When: Thursday, April 10, 11:30 AM
Where: Two Rivers Convention Center
Tickets: $45

Welcome!

2007-12-03T08:58:00.000-07:00

Welcome to the Business Incubator Center blog. This tool has been established to enhance communication and collaboration within our entrepreneurial community. Please feel free to participate and contribute!

To begin, here is a little background about the center.

Mission Statement: The Business Incubator Center is a results driven provider of educational services and business tools. We support the launch, growth, stabilization and long-term success of business enterprises in Mesa County. We measure success by our ability to guide entrepreneurs through sound business decisions and our positive influence on economic growth in the region.

History: The Business Incubator Center (BIC) is a non-profit business development organization committed to being a force for economic development in Mesa County. It does this through a grassroots approach involving several small business programs which assist the new or existing business owners to start and grow their companies.

Founded in 1987 by a group of community leaders, BIC was one of several initiatives after the last economic bust to diversify the economy and create jobs. Started in the 40,000 square foot Biggs Kurtz warehouse, BIC moved to the Department of Energy complex in 1999 and now occupies 60,000 square feet of light manufacturing and office space. Comprised of four primary programs, BIC extends its reach throughout the region from Collbran to Mack and into all types of industries including manufacturing, agriculture, construction and retail. BIC sees its role as education and coaching of business owners and leaders in establishing an entrepreneurial infrastructure in Mesa County.

Through our various programs we work with hundreds of entrepreneurs every month. Our contribution to the economy in terms of both diversity and growth is clearly demonstrated by our results:

With an 80% success rate, we are honored to call over 200 successful local businesses our Incubator Program “graduates.” These companies have created over 900 jobs and $130 million in direct revenue. The Incubator Program has had a $325 million dollar positive impact on our local economy.

Since its inception in 1986, the Business Loan Fund of Mesa County has loaned more than $12.3 million to over 250 Mesa County small businesses and leveraged over $46.3 million in additional capital. More than 95% of those businesses funded have succeeded, adding jobs and additional tax dollars to the local economy.

The Small Business Development Center has worked with thousands of individuals one-on-one and held hundreds of workshops and classes. SBDC clients reported 92 jobs created and $3.5 million in capital formation in the first 3 quarters of 2007 alone.