Why You Should Start a Company in… Portland, Oregon
I came across this article on Fast Company’s website and decided, given our location (yes this is a reference to my last post), I had to post it. According to Fast Company these days, location DOES matter. For Part Ten of Fast Company’s series about where to start a business (Why You Should Start a Company in… Portland, Oregon), Laura Rich interviews Jive’s Chairman of the Boards, David Hersh, in a very honest article about why one would want to start a company in the Pacific Northwest’s “Silicon Forest.” So for all you Portland based entrepreneurs, why did you choose the Rose City?
I’m all about those cool, new, flashy tech innovations that businesses “need” (or at least I pretend to be and just admire them from afar). However, this article gives a refreshing perspective on businesses that thrive by using simple productivity enhancers. Some of these suggestions might seem overly simple, random, or blatantly obvious, but every little bit of advice counts.
You may think I’m wasting you’re time by posting some silly little tips about organization and efficiency, but think again. In the words of the author, Joe Ippolito, “The people who are succeeding are those who’ve found ways, methods, and routines to help them get things done.”
Check out the interview with some of the author’s favorite entrepreneurs from GOOD’s Diary of Social Venture Start-up. So all you entrepreneurs out there, get ‘er done (sorry, I couldn’t help myself)!
Forbes recently came out with an article about “The Biggest Small Business Competitions” across the country. The article gives insight to the 15 biggest university-sponsored events. Granted, some competitions are only open to students and/or alumni of the hosting university, but it’s not the situation for all. Some competitions are even right here in Eugene, like the New Venture Championship at the University of Oregon. Hey, the article even has some tips from our very own Tim Berry, president of Palo Alto Software…which I advise you to pay attention to since he’s a judge at three of the competitions listed.
Can you tell I love the Small Business section of the New York Times? You should too; it offers great insight for entrepreneurs. If you’re looking to start using Facebook to promote your company, check out the newest Small-Business Guide from the NY Times: How to Market Your Business With Facebook. The article offers good advice and additional online resources for dealing with Facebook!
Here are some quick tips from the article:
Identify a short list of goals before you begin.
Show some personality in your page.
Don’t shill. Use your page to engage-and trust that sales will follow.
Use Facebook data to analyze your customer demographics.
Smart-ups usually hosts an Ignite-Style pitch competition in November. This year we are hosting a mini Pub-Talk event with the Oregon Entrepreneurs Network November 11th at the Willamette Innovators Night in Corvallis.
Location: Oregon Electric Station, Eugene | directions
Register: Click here [$20 - includes food and bev | $15 for Eugene Chamber, Corvallis Chamber and SAO members | $10 for students | $25 at the door]
*** And bring your business cards because we’re bringing back the “5 Minutes of Start-up Fame” – where you can enter into a drawing for an opportunity to deliver a 5 minute pitch about your start-up company! ***
Rich Barbis – CEO and founder of Opa Cove™ will share his story about starting, running and growing his emerging growth company – including how to know the difference between the “Wolves” and the “Angels” out there!
One of the best learning opportunities is listening to other entrepreneurs share their stories – learn from their successes and their mistakes. Rich will talk about the importance of his business plan, deciding on the right way to structure his company (LLC v. C-Corp, v S-Corp) – including why this is so important, the manufacturing of his prototype, the importance of the right attorney at the right time – and ultimately – launching his product into the market. Visit www.opacove.com for more information.
Opa Cove creates Neoprene water safety products that are safe and fun for kids ages 2-7.
*** And bring your business cards because we’re bringing back the “5 Minutes of Start-up Fame” – where you can enter into a drawing for an opportunity to deliver a 5 minute pitch about your start-up company! ***
Thanks to our great sponsors for supporting entrepreneurship in our community!
Larry Kaplowitz (co-founder of of Luna and Larry’s Coconut Bliss) will share his personal story about how he and his co-founder (Luna Marcus) started, grew and sold their business in less than 6 years. Hear how they started the business with just $10,000, how they quickly became cash-flow positive, how they built their team, marketed their business, hit their first million, explored partnerships — and ultimately sold their business.
Larry has truly come full-circle. He’s now excited to become an angel investor and share his knowledge and skills with other local start-up companies. Larry is a member of the Willamette Angel Conference investor LLC. You won’t want to miss hearing his amazing story!
Following Larry’s talk we’ll begin the “Speed Pitch” competition (where Larry is one of the investor panelists – see other investors below…).
Calling Oregon-based Start-up Companies to Deliver a Speed Pitch! There’s no fee to submit, no fee to present and presenting companies do not pay a fee to attend — so you have nothing to loose and a lot to gain!
Includes food and beverages | Note: Seats are limited!
Speed Pitches: 3 minutes each to pitch, 3 minutes of real investor feedback
The audience will vote for the winner – and the one winner will receive a free hour of coaching from the Executive Team for the Willamette Angel Conference (includes investors, entrepreneurs, and lawyers). Note: Any start-up in Oregon is eligible to submit to pitch at Smart-ups — including those who submitted to pitch at the WAC and those who have not submitted to pitch at the WAC. All investors from the WAC will be invited to attend this event, and the investor panel are members of the WAC Investor LLC – so this allows for a great educational and networking opportunity.
Create a single slide (slide should include your company logo, tag line, and no more than 7 bullets describing what’s unique about your business)
Submit your single slide to Smart-ups by clicking here – you will be contacted if selected to deliver a speed pitch at the pub-talk. Note: Up to 10 companies be be selected to deliver Speed Pitches
Deadline to submit is 5pm, April 9th.
If selected to deliver a Speed Pitch you will be given 3 minutes to pitch your business (you will be timed).
Tips for what to say in your 3 minutes include: your name/title, the problem in the market you’re product is addressing, 2-3 sentences that describes your business, your target market, how you will generate revenue, your competitive advantage/value proposition, and key team members/advisers
The investor panel will take 3 minutes to ask you questions/share suggestions.
The audience will vote for the company they feel delivered the best pitch. The winner will receive one free hour of coaching from the WAC Executive Team
Rehearse! Rehearse! Rehearse!
Thanks to our great sponsors for supporting entrepreneurship in our community!
We all know that starting a business is very difficult —- well dissolving one is even more challenging! This panel is going to be one of the most educational events of the year. You’ll get to hear the good, bad and ugly from a panel of your peers. These entrepreneurs will share the valuable lessons they learned in their respective start-ups. They each have a very different story to share, and these lessons could change how you start, run and grow your start-up.
I found this great article in the Small Business section of the New York Times website; “The New Rules of Angel Investing.” If your start-up is currently looking for capital I highly recommend this article! Even though times are tough, angel investing is still increasing. However, investors are “…picky and less tolerant of risk,” thus contributing less money. Get to reading so you learn how to secure some funding for your company!
Here are some quick tips from the article:
“Bootstrap as long as you can. Finding early ways to get revenue.”
“Get to break even quickly and remember that VC financing has gotten harder to obtain.”
“Be realistic about valuations. Be coachable.”
“Practice pitching and be prepared to make your case to dozens or hundreds of angels.”
“Look for angels who complement your strengths and can help you with more than money.”
