There was a recent article on the startup nation website entitled "How to be a big CEO on campus" http://www.startupnation.com/articles/1739/1/big-ceo-campus.asp. The point of the article is that people in college have certain advantages and youth should not be a hurdle to beginning an entrepreneurial career.
This has been a point of discussion in my class. Research at Kauffman indicates that the typical entrepreneur is mid-thirties, well educated with industry experience.
Young people have less to lose in failure and much to gain in experience. It might be easier to rebound into an entry level job if the venture goes sour. On the other hand, experience translates into knowledge and contacts. Valuable resources for starting a business.
As is the case so often, the answer lies in the individual. When to make the fateful decision depends on when the right opportunity lines up with available resources. Whenever you have the match between opportunity and resources, ignited by passion that is the time to stoke the new venture into creation.
The Entrepreneurial Professor
Tuesday, October 5, 2010
Monday, September 27, 2010
Parasitic Marketing
There was an article in the WSJ last week entitled "Marketing Strategy: Buddy Up". The gist of the article was the value of small companies sharing marketing campaigns with larger companies. There is an opportunity for synergy when teaming up with a bigger company, a friendly strategic alliance.
When I was with Blue Orb, we created what I called parasitic marketing, where we would attach our little promotional efforts to a larger host company. We hoped that our small diversion would go unnoticed by the sponsor of the bigger event or if noticed would not be worth the effort to make us go away.
Does anyone have other examples of parasitic marketing? Any problems with the ethics?
When I was with Blue Orb, we created what I called parasitic marketing, where we would attach our little promotional efforts to a larger host company. We hoped that our small diversion would go unnoticed by the sponsor of the bigger event or if noticed would not be worth the effort to make us go away.
Does anyone have other examples of parasitic marketing? Any problems with the ethics?
Tuesday, September 21, 2010
The impact of pitching the plan
Hi, I'm back
A colleague shared an article that appeared in Venture Capital back in July 2008. It is one of those academic articles where the findings fall into the "I could have told you that" category, which is: investor's interest is significantly related to the quality of the presentation.
It is my experience that an "ok" venture presented well will receive a more positive reception that an excellent business model presented poorly. Aspiring entrepreneurs often overlook the importance of persuasive communication. Being good at selling is a crucial skill for even the most technically astute entrepreneur.
Fortunately, developing skill at selling and giving effective presentations is a competency that can be taught. Students in the Rollins MBA program have many occasions to learn presentation skills. We need to augment the sales skills training.
A colleague shared an article that appeared in Venture Capital back in July 2008. It is one of those academic articles where the findings fall into the "I could have told you that" category, which is: investor's interest is significantly related to the quality of the presentation.
It is my experience that an "ok" venture presented well will receive a more positive reception that an excellent business model presented poorly. Aspiring entrepreneurs often overlook the importance of persuasive communication. Being good at selling is a crucial skill for even the most technically astute entrepreneur.
Fortunately, developing skill at selling and giving effective presentations is a competency that can be taught. Students in the Rollins MBA program have many occasions to learn presentation skills. We need to augment the sales skills training.
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