Entrepreneurialism Phenomenon
Bill Warner Tuesday, March 25, 2008
This is the 25th year for the Council for Entrepreneurial Development (CED) Venture Conference. More importantly, over the last 25 years, CED has provided leadership and support to a community of private and public companies, professional services firms, and financial and financing firms, all for the benefit of entrepreneurs who are in need of assistance in creating and launching their companies.
In perspective, this organization has done more for entrepreneurialism than any organization I can think of, and stands out nationally as an example of what a business community can do to support entrepreneurial growth, by generously applying some of its own time, money and know-how towards helping entrepreneurs.
What Makes it Work?
CED has grown in every way measurable over the last 25 years. What is the secret sauce that makes all of this work? Here’s the receipt:
- Start with a few dedicated business leaders who really care about entrepreneurial growth and are willing to do something about it by providing leadership and advocacy.
- Add a substantial amount of business community buy-in to the idea that if they all give a little bit of their time, money and know-how, the collective support will be incredibly powerful.
- Fold in some dedicated organizational leadership to pull everything together with specific entrepreneurial support programs and make them happen.
- Throw in some dedicated people into the organization who have program development skills and incredible excitement for what they are doing and who have no idea what they cannot do.
- Of course, add some money, as membership fees, from the entrepreneurs. And, from the supporting business community, add membership fees and donations from them too.
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Know the Buyer’s Food Chain
Bill Warner Saturday, March 22, 2008
Knowing that you have, or will have, a winning product does not give you time to rest. You have to grease the skids by making your buyers aware that you have a product that solves an important problem that they have. Founded upon your in-depth understanding of your buyers, you need to structure the appropriate marketing campaigns that raise buyer awareness of the product’s value and availability. This can be mind numbing work, but is very necessary in order to not have surprises that could stop your business later. Many hours spent on understanding the distribution channel can save you from a whole lot of costly mistakes later when you are trying to get the revenue for your hard work.
Know How the Buyer Buys
Almost always, it is not obvious how the buyer actually buys. Knowing this is the subject of millions of dollars that some companies spend in order to introduce products to the consumer retail industries. Advertising agencies and research firms get rich figuring this stuff out. The best way, and a lot cheaper, is to ask them yourself. Approach representative examples of your buyers and ask them how they purchase products in your market segment. Answer these questions:
- Who do they buy from
- Where do they learn about new products
- What are the payment requirements
- What incentives are offered
- What are the terms and conditions for the purchase
- Is credit required
- What are the price ranges
- How is the delivered
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Engage with the North Carolina Sustainable Entrepreneurs
Bill Warner Wednesday, March 19, 2008
Paladin and Associates is a proud co-founder of the North Carolina Sustainable Entrepreneurs Group (NCSEG). We are fostering entrepreneurship in NC by providing guidance to companies that have sustainable technologies. Our organization was founded on the basis that there is tremendous support throughout NC that provide assistance to entrepreneurs. The problem is that entrepreneurs don’t always know how to form their companies and get them launched. We take entrepreneurs under our wings, give them some initial guidance on what they need to do and then get them in touch with the right organizations and resources that they need to take the next step in their company’s formation.
Early this week we had our regular monthly meeting. We are just getting started but here are some of the things that are on our radar screen:
- Supporting the NC Green Fund by guiding companies to their application process
- Engaging in some public forums to make the business community aware of our group
- Having further meetings with successful sustainable companies
- Engaging with university programs and make entrepreneurs award of their services
We encourage all entrepreneurs that have technology that has sustainability characteristics get in touch with us. Perhaps we can help you too. Go to our website at http://www.ncseg.net to learn more.
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Business Plans for International Businesses
Joan Keston Wednesday, March 05, 2008
When creating a business plan for international business, there are some fundementals that have to be followed. Although many of the issues that will affect your business plan may be somewhat difficult to quantify in advance, they must be raised and analyzed and continually assessed as you proceed with the execution of your strategy. Their significance may be the ultimate cause of the success or failure of your international venture.
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Telemarketing in Perspective
Bill Warner Monday, February 25, 2008
What is marketing all about? It’s all about generating qualified sales leads with whom your sales team can proceed with the sales process. Marketing gurus will tell you a dozen more things that marketing is about, but they all boil down to generating sales leads. That’s it, and it’s very important, and the measure of marketing success is how many qualified sales leads are generated.
Telemarketing is an effective and efficient way to generate sales leads when performed correctly by the right people. Let’s focus on what it takes to do this successfully.
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Be Referable
Bill Warner Saturday, February 23, 2008
We have all heard the old saying, “it’s not what you know, it’s who you know.” Well, there is a lot to be said about that. Look back on the business you have won recently. How much of it came by referral from someone you know, versus a cold call to a prospect or an inquiry directly to you or through your website? Like many of the business people I meet, the majority of their business comes by referral.
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How to Find Angel Investors
Bill Warner Wednesday, February 20, 2008
So you have completed your business plan, determined how much money you need, practiced your presentation, and are now ready to approach angel investors to raise the capital needed to launch your business. But, you don’t know any. You have heard about the angel organizations in the area. You have read about the venture capital firms as well. Where do you start looking?
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Know Your Business
Bill Warner Wednesday, February 20, 2008
Once you have given your elevator pitch and you have gained interest from a potential investor, the flood gates have been opened for a barrage of questions that you really have to be prepared to answer. You really have to know your business completely.
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Who are Angel Investors?
Bill Warner Monday, February 04, 2008
Entrepreneurs often talk about needing angel investor money to launch their companies. When asked about their financing plan, they are heard to say, “I am going to raise $500K from angels.” When asked what their strategy for approaching angels is and who they are going to approach, they often go silent and have a blank look on their faces.
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Know Your Buyer
Bill Warner Monday, February 04, 2008
Before you ever approach an angel investor, you absolutely need to understand your business and have done the research and analysis necessary to write a business plan. One of the first questions you will get from any investor is, “who will buy your product or service?” You need to have a crystal clear answer to that question or the investor will conclude that you do not understand your business.
