What NEW things have you done lately?

This article caught my eye and as always, I thought I would share. So much of starting a new business is motivation. It's easy to be motivated in the beginning, but as time goes by - you are going to have those days where you are searching for inspiration.

Part of keeping motivated for me is trying new things - after doing something new, it's a reminder of why i left my cubicle job for something different.

Check out Jen MacNeil's approach to her 20's : CNN - young people who Rock


or check out her blog : IN THE NEW

( don't be confused - we both have the same blog layout )

Trying new things: High Tech Happy Hour

This was an interesting idea that I came across. This is called "High Tech Happy Hour" and is a chance from technology individuals to interact.

This High Tech Happy Hour is located in Madison Wisconsin. described as:


The initial HTHH drew about 30 people. The concept was simple: no agenda, no fees, no program, and no pre-registration - just people connecting with other people to leverage ideas and opportunities. The creators gambled that sponsors would come forward to make these event possible. The formula worked and sponsors (some of the best companies in town) have consistently supported HTHH as a monthly event ever since.


Interested in seeing more - Check on the HTHH

What is FUEL ?

I have heard mixed reviews of FUEL - Milwaukee's young professional group. Self describes as :

FUEL Milwaukee is an economic development initiative of the Metropolitan Milwaukee Association of Commerce (MMAC). The MMAC is working to strengthen the region's business base, to attract and retain jobs and the talent to fill them.

Mission.
To position and establish the Milwaukee region as the destination for world-class talent, in all its diversity.

Some people I know have said that it's TO social and others have complained that it's to unorganized. I have not been to a FUEL event yet, but I plan on attending a few once I move to Milwaukee. Maybe you have been to one and maybe you have just written it off. OR maybe you are one of the people who have commented from the sidelines, but have not offered a solution.

Regardless, this FUEL event looks like it might be interesting to check out:

FUEL Orientation @ the Metropolitan Milwaukee Association of Commerce

Monday, October 22, 2007
5:00 PM TO 7:00 PM

EVENT LOCATION Metropolitan Milwaukee Association of Commerce
756 N Milwaukee St Ste 400
Milwaukee, WI 53202

Register ahead of time: FUEL

A brief look at an Entrepreneurial legend

The title of this article caught my eye. Not only is it interesting to read a bit about the history of Entrepreneurship in America, but the article examin's the mind set of an early entrepreneur.

Another thing that caught my attention was a concept I've yet to really find an adequate answer too. What makes a entrepreneur do what they do. Millions of people come up with great ideas all the time, but only a small percentage of those people decide to take that idea and attempt to turn it into something more. But I did like how McCraw got this article started with :

What leads a person to start a company? "The impulse...to prove oneself superior to others."

SO fee free to check out the article on Joseph A. Schumpeter, an Entrepreneurial legend at

Schumpeter INC. Article

Also, feel free to share your comments below.

Where to set up your office in Milwaukee ?

I don't have the answer to this question but I know I've been asking myself this for the past few months.

The good news is that Milwaukee is a city on the move. I think as a visitor over the past few years you tend to notice the changes more then someone who lives in the city permanently. There is development and expansion all around Milwaukee. Seeing this growth and re-investment into neighbourhood's is encouraging, but leaves someone like myself asking 'where to set up shop?'.

My original plan while doing research into moving my company to Milwaukee, was to set up an office for a few years in a less expensive area of Milwaukee. I was looking at small offices and incubator programs in the area. Like most plans during the start-up stage, things change - quickly. I found out that due to a supply and demand gap, there were a large number of affordable small offices in the downtown area. Not only is the Milwaukee market considerably cheaper then the Chicago market, but there is more flexibility in lease programs and amenities (i.e. parking, utilities, repairs). So instead of looking at areas like, West Allis, Greenfield and Wauwatosa - I've focused on the Milwaukee downtown area.

One listing that really helps in my search was the Milwaukee 7 search engine:
Milwaukee 7 office listings

I am still searching for an office that fits my needs, but I'm encouraged by the ones I've seen so far.

my own Hint: I would say one of the hardest things while looking for an office is staying within budget and removing your ego from the equation. I looked at a few places in Milwaukee that were my 'dream office' - These places were top of the line and are what I imagined an IT firm headquarters would look like. It was hard to remind myself that I was looking for a functional office that would be a 'stepping stone' in my companies growth. If I jumped into a place I could not afford right now, I would not be in business long enough to enjoy it. I've simply added this dream office to the list of goals that I want to hit and now I know that there are a few 'dream office locations in the Milwaukee area. (but I will say, while viewing these high lofted, converted warehouse offices - I was already planning on what arcade games would go in the employee break room and what pictures I would hang in my glass office - it was hard to look at the next place)

linkedIn Adds Pictures to it profiles: Good or Bad ?

When asked for advice by someone who has recently started working on their own 'start-up', I am hard pressed to pass along anything that you can't find within 10 minutes of surfing the net.

But one concept that I like to talk about is something that was new to me and I hope to impress upon them how it has helped me over the years. That concept is slowly creating a lose connection of individuals that will formally and informally work as advisor's on business decisions. I'd like to go into this concept in more detail another time, but today I wanted to mention one great way of getting started.

A website/networked called LinkedIn

LinkedIn's approach is to take the popular social network concepts of facebook and myspace and apply that the the business world. Tapping into the idea that 'relationships matter' - even in business.

Their Philosophy: Your professional relationships are key to your professional success. Our mission is to help you be more effective in your daily work and open doors to opportunities using the professional relationships you already have. This isn’t networking—it’s what networking should be. Forget exchanging business cards with acquaintances that don’t know your work, or trying to renew professional ties when you need a favor.

So, whether you are just getting started or have been in business for years, I think that this is a great resources for several business opportunities.

But I do have one recent complaint about the network. Last week the site allowed for pictures to be added to profiles. I understand the reasoning for this. I think that pictures will increase traffic, a key component of any network. You need a large number of regular member's to tap the intended potential of that network and establish that it can really connect people with similar intentions. ( in this case a professional interaction)

Unfortunately though, I think the pictures will distract from the sites professionalism. That by adding picture to compete with the number's of members on facebook and myspace, the company will transition from a 'professional' network to more of a 'social' network. I have to admit that I also really liked the concept of individuals getting job positions, referrals or call back based on several professional factors - but in a rare twist that opportunity did not result from how attractive they were.

But despite recent changes, I still think that linkedIn offers some great resources - so check it out.

Business is Business - so how can that help you.

As I talk with more and more entrepreneurs, I'm amazed at how so many of them describe running into similar problems.
I'm not talking about the industry specific problems, but all the other growing pains of taking your business concept to market in the first 18 months or so. I know that I personally found these problems frustrating when I was getting started and I see that same frustration in new entrepreneurs I talk with.
One concept that kept nagging at me, was the idea that I was going in the wrong direction or always re-inventing the wheel with projects. I learned a lot from my mistakes and would encourage others to not be afraid to make their own, but by communicating with other entrepreneurs you can avoid some common pitfalls.

One suggestion that helped me with start-up problems in the beginning, was setting up a FREE meeting with the Small Business Association's SCORE group. SCORE is the Service Corps Of Retired Executives and has chapters located in most major cities. You can set up a meeting to discuss problems or plans for expansion, regardless of what stage you are currently at with your company.
You have to get past the fact that this person may not be an 'expert' in your particular industry, but rather is a expert in 'business'. They cane talk with you about the business concepts you should be focusing on to fix this problem and give you suggestions of resources to use. These advisor's have a proven track record that they have been successful in an entrepreneurial endeavor and can be a great way to start planning how to tackle a current problem.

website: SCORE

I've asked a few entrepreneurs to contribute to this blog in the coming months and hope they have the time to share a few stories or concepts.
My hope is that people would either gleam some insight into a common problem they might be currently facing or perhaps just take comfort in the fact that others are running into 'speed bumps' - but that they keep trying.

Ok , I have an idea...now what....

This week I having a very familiar meeting coming up. I am sitting down with someone who has contacted me regarding doing a 'Start -up'. As my start-up business has grown, I have received requests for a meeting like this on more then one occasion. And I love it !!!

I really enjoy discussing start-ups and the entrepreneurship process. I enjoy hearing about people's new ideas and seeing the excitement they have for getting started. I remember that feeling of excitement and nervousness. Not knowing really where to begin but also being worried that the next time I turned on the TV...there would be my idea. I remember the day dreams about what my company might look like or how it could change an industry or maybe just provide me the freedom to do what I wanted...when I wanted.

Over time, I've put together a brief outline of my thoughts and suggestions on ways to get the ball rolling. The First Step that I always tell people is RESEARCH.

I. Research

It sounds so basic, but you would be surprised how overlooked it is. You might have the greatest idea, but after an hour online - you could find out that you are too late. Assuming that's not the case though, research is absolutely square one when you have your idea but don't know how to get going.

• Start looking into the industry itself, who are the industry leaders, what is the size of the market
  
• Start printing up articles that talk about changes in the industry, if you are creating the market - find a comparable industry to research.
• Start a list of helpful websites and resources to use for future research
  
• Gather information on how to write a business plan (This will become increasingly important later on)
  
• What type of Business do you want to set up: LLC, S-Corp or Sole Proprietorship
• What are the pros and cons of structuring your business this way
  
• Where is the industry heading - growing or declining ?
  
• Start a to do list for the coming weeks - things to research and possible small steps to take.
  

( Don't be afraid to print out a lot of things pertaining to YOUR idea or company idea...you are just getting a broad view of things right now)

During the Research phase you are trying to accomplish several small goals that you may or may not be aware of. You are trying to create a base of information that will slowly grow. What may start off as a folder today should become a file cabinet full of information in the future.

Besides collecting information on your 'start -up' you are trying to uncover any potential major road blocks that exist. It's important to know about problems that could end the company before it got started or larger barriers of entry into that industry.

You are also starting the process of becoming an expert in YOUR industry. For example, if you are starting up a shoe store, you need to know about the industry - not just guessing or repeating things you have heard. You need to know things like what Americans spent on shoes last year, how many shoes stores are in the US, how many are in your state, how many are in a 10 mile radius. You should know a realistic number of how many shoe stores started up last year and what percent are still in business. You should also start looking into the different types of show stores (warehouse mega stores vs mom and pa shops). Where do shoe stores get their inventory and what is the average cost. All of this information will help you to know the potential of the company and what numbers to start using for a basic budget.

Becoming knowledgeable in your industry will help out immeasurably down the road. You will have a good start to your business plan and you will be able to talk with a wide range of people in and outside the industry. You will also be able to narrow down what 'type' of start-up you want- the more focused you can become about your start up- the better. Also as you research the potential for your idea, you will also gain confidence that you can make this start-up work . ( Confidence is VERY important)

In the end, research is trying to see if your start-up is possible. Can you sustain that start up and make money doing so. In the beginning you have the idea, you need to do the research to back that idea up - because in the future you will need to convince others that your company will be successful.

Biggest Problem: Not Knowing How to Get Started...

I have met a lot of people who have their own 'million dollar idea'. Sometimes they are guarded to tell you what it is,or even hint at what it's about....but they have one alright. Regardless if it's really a million dollar idea or not is irrelevant, (and who am I to judge that) to them it 'could' be the next big thing. Perhaps you have sat in your office or on the bus and day dreamed about how your idea would be in every household, on every store shelf.

That's where I was at the start of 2004. I thought I had a good idea, but I had no clue as how to get started. I think that not knowing how to get started with my company was one of the biggest obstacles. You have your idea but your head starts spinning with all the things you would need to get in order to turn this into an actual company. My hope is to share some of my experiences and resources with this blog. I can share some of the roadblocks I hit in the past as well as some of the roadblocks I'll continue to come upon with future projects.

I'm also hoping to get feedback from entrepreneurs at every stage of their business. Whether you are an owner, thinking about starting a new company or are just a fan of the entrepreneur spirit. I hope you feel free to submit your ideas, resources and comments.