Advice from EAC’s Emerging Business Award Finalists

The Entrepreneurship Advancement Center held its 2nd Annual Entrepreneurship Celebration Awards  on February 28, 2013. Finalists in three categories participated in interviews with separate judging panels. These awards celebrate the achievements of innovative business owners who conveyed an entrepreneurial spirit as they have grown their businesses.

Hear the established business finalists share their advice. They include tips on starting and growing their own businesses for other entrepreneurs. The emerging businesses are in the earliest stages of development, revenues are low with 1-3 employees.

 

Finalists:

 

EAC’s Entrepreneurship Celebration Award Winners Announced

EAC announced the 2013 Entrepreneurship Celebration Award winners on February 28 at a luncheon featuring keynote speaker Michael Cloran, Partner in DeveloperTown.

Outstanding Educator: Peter Griffin, Fishers High School

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For Peter Griffin, entrepreneurship is not just a class, it is what he does as the owner of Sola Salons. Any of Peter’s students should be able to tell you that the class objective is to be able to analyze a business idea with high certainty to know if they can make a profit and not lose their parent’s retirement and/or house in the process. Peter wants students to understand that if you don’t know what you are doing, if you don’t look at costs, profit margins, or rates of returns starting a business is a very risky effort. His classes emphasizes that smart folks know how to minimize their risk and create opportunities.

The unspoken objective in Peter’s entrepreneurship class is that students will see brand new opportunities. Instead of wanting to be an engineer, maybe they can own the engineering firm; instead of being an auto mechanic, they can own their own auto shop.

In class, students don’t just read about starting a business. They do it. In the fall 2012 semester there were at least five students who have started a business from their class created business plans. Hopefully, we have many students seeing owning their own business as a real possibility.

Emerging Business Award Winner: James Burnes, PatentStatus

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James Burnes has been involved in the technology sector since 1998 as both a digital strategist and product development leader. His career has included creating digital products for a national continuing medical education firm, leading the technology side of a national forensic law consulting practice in New York City and spending 7 years in publicly traded newspaper and television media companies developing and leading new product development with roles in sales, marketing and branding. James founded innovation and digital consulting practice, Project Brilliant in 2010 and sold that business to pursue PatentStatus in May 2012. James founded PatentStatus following the signing of the America Invents Act. This allowed Burnes to start a software-as-a-service venture that could serve the intellectual property sector. Connecting and collaborating with patent attorneys in Central Indiana, Burnes vetted a prototype product and launched the software in less than 5 months from the legislation taking effect. As the business shifts to actively marketing itself, the pipeline includes global brands such as Briggs & Stratton, Kimberly Clark, Caterpillar and more.

Established Business Award Winner: Nick Carter, AddressTwo

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Nick Carter, founder, president, and CEO of AddressTwo, started his company out of what began as a freelance marketing consulting practice, Carter and Company LLC, in 2006. In 2008, he founded the tech start-up AddressTwo with a CRM (customer relationship management) product that he had created by teaching himself how to program the software.  While trained programmers called it rudimentary, the beauty in what he had created was that it filled an unmet need in a niche marketplace.  Customers agreed and sales grew. Within a year, several hundred companies had purchased the software.  Today, Address Two has over 8000 users representing over 1200 companies.  The company was a finalist for TechPoint’s MIRA award in 2011 in the category of IT Gazelle – recognizing the fastest growing IT companies in Indiana. In March, 2010, Carter published his book “Unfunded: From Bootstrap to Blue Chip without Round-A Capital” which details his reasons and methodology for growing a business without raising early stage investment.

Mature Business Award Winner: Michael Friery, Veteran Construction

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In April 2009, Michael Friery and his partner founded Veteran Construction, a disaster restoration company with a vision to revolutionize the industry with the highest business standards and innovative technology, both of which had been lacking in the restoration business. Since that time, Friery has been the fuel that expands and grows the company. He is driven to succeed as well as provide the best environment for his 55 current employees. Over the past three years, he has personally laid out a vision that has led to phenomenal growth resulting in the expansion into Kentucky, Missouri, and Florida along with starting a retail gutter and material supply division. While the disaster restoration and construction industry has been around a long time, Friery has integrated his core veteran values into his company and is a breath of fresh air in the construction industry. These core principles are reflected today and every employee can recite them by heart:  Integrity First, Service before Self, and Excellence in all we do. As one of the company’s tag lines says, “We work to protect the most precious things in your life,” Veteran Construction has strong sense that their mission is more than repairing their home after fire or water disaster, but it is their duty to do so. Their belief system is echoed in their motto: At Veteran, we just don’t fix your home, “We Build Your Life Better.”

2012 Community Business Plan Competition Winner: Heidi Wolfe, Lollies Candy Shop 

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Walking into Lollies Candy Shop is like walking into a farmer’s market. Customers will find bushels full of wrapped candy, unique gift baskets, seasonal candies, jars filled with colorful gummy candy and a cold case filled with tempting chocolates. Some of the featured candies will be manufactured in Indiana. Lollies will be located in the downtown the Fishers area.

Heidi is a degreed professional in merchandising and has retail management and buying experience. Her retail experience coupled with her sales experience makes her a natural at providing excellent service. She is a business leader

Celebration Awards Photos

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Business Ethics: A Review of “These Shining Lives” at Indy Fringe

For nearly a decade, one of the leading examples of both entrepreneurship and the burgeoning art scene here in Indianapolis has been the IndyFringe festival. The business model of this live theater program is brilliant. Instead of just selling tickets, IndyFringe also sells “backer buttons.” Theatergoers wear these pins, which serve as a walking advertisement but also as a way to raise money for the organization.

The upshot: 100% of door proceeds go to the artists themselves.

One of my favorite plays this year at IndyFringe is These Shining Lives by Melanie Marnich. It’s a tale of the interplay of booming business, changing culture, and personal lives. But unlike the runaway success of IndyFringe, the production reveals a potential dark side of financial success.

Lives opens and closes with the charmingly optimistic Catherine Donahue (Ale Hudson), who explains with starry eyes that this play “begins like a fairy tale, even though it isn’t one” and that it “ends like a tragedy, even though it isn’t one.” The lead character is a young mother in the rapidly-changing world of the roaring twenties. Instead of staying home with her young children, she decides to explore the opportunities newly available to women of her era. Catherine Donahue takes a factory job with the promise to make more money than her husband. She is employed in the skilled handicraft of painting numbers on the faces of watches.

Along with guileless Pearl (Laura Elsworth), prudish Frances (Lauren Boughner) and sassy Charlotte (Eliza Griener), Catherine begins a decade-long career at the Radium Dial Company. Their fate is not just to detail watches at the stunning wage of eight cents per piece. In addition, the four women are slowly, unwittingly poisoned by the radioactive element that seeps into their bodies and eventually claims their lives.

Lives is a morality piece about the ethics of organizations told through the lens of the victims. Eventually unable to perform their duties, the company doctor declares each one unfit and ends their term of employment. The power of the Radium Dial Company—like the radiation from the paint—impacts the entire community. The women eventually must travel to nearby Chicago to find a doctor willing to tell the truth, and a lawyer willing to consider their case.

Every business faces ethical issues with regard to products, services, pricing and compliance. But the true story of the Radium Dial Company is one of choosing profits over people, choosing business efficiency over the moral imperative to protect and preserve life. In any organization of any size, it is easy to say “I am just doing my job.” Yet These Shining Lives reminds us of a more fundamental duty than to follow orders: to check any directives we receive against our own morality.

The play is beautifully and earnestly presented by the cast, who are all students at Carmel High School. Director Maggie Cassidy stages the play with clear intention despite the limitations of the Fringe format, using blocking and directed paths to create space without complex sets. Particular mention is deserved for Gus Leagre (Tom Donahue) and Eliza Griener, whose impassioned monologues as supporting cast bring a surprising dimension to the play.

See These Shining Lives on the main stage at the Phoenix Theater. Support Indy’s entrepreneurs and artistic creators at Indy Fringe!

-Robby Slaughter

Entrepreneurship means Time Management

It’s an absolute rule of business: people who are able to be successful are those who are exceptional at managing their own time. I’d argue that there are no examples of successful people who aren’t also extremely conscious about how they use their time. But why is time management a second class topic in entrepreneurship? Why do we place our own personal productivity behind topics such as financing, team dynamics and product design?

I think that the main reason entrepreneurs don’t like to talk about time management is because they think it’s simply a matter of discipline. “I know how to work hard”, we tell ourselves. “I just have to find the right idea, the right team and the right support to make it happen. That’s when I’ll manage my time well.”

Of course, this is not how business works. We have to fail over and over again in order to find success. If we’re not efficient at identifying options and discarding those that don’t work, we’re not likely to build a growing business.

So what should an entrepreneur do? Here are some time management tips that apply best to people who are building a business:

  • Set daily goals, the fewer the better - Establish at most three major tasks you want to accomplish that day, and do them first. The tremendous advantage to this approach is that you aren’t just working, you are working on what you decided to pursue—not what just popped up ahead of you.
  • Practice explaining everything – It’s crucially important to have an “elevator speech” for your business model ready to go at all times. But really, all of the aspects of your business deserve soundbites so that you can share them with others and get quick feedback. No matter how brilliant an idea or important a story, no one will listen if you can’t tell it with brevity and clarity.
  • Say No – Building a business means having more opportunities to pursue than hours in the day. Turn most of them down. Say “Thanks, but I need to decline.” Ask to be contacted next year instead. Close the door, ignore the phone, reply to emails tomorrow and work.

If you consider yourself an entrepreneur, you had best be an expert in managing your own time. Be conscious about where you spend your minutes. Once gone, you can never have them back.

Robby Slaughter is a productivity expert based in Indianapolis, Indiana.

Robby will be speaking at the Entrepreneurship Celebration Conference on October 18. Click here for conference details.

We Want to Recognize Entrepreneurs!

We believe entrepreneurs drive our economy and would like your help in recognizing entrepreneurs and their entrepreneurial achievements!

EAC is excited to kick off the 2nd Annual Entrepreneurship Celebration Awards! This event recognizes and celebrates entrepreneurs in Indiana. The event will recognize the achievements of current influential and innovative business owners, future business owners, and those who educate future entrepreneurs.

Who is Eligible? All entries must be owned by a resident of Indiana and/or be headquartered in Indiana. There are 4 categories with 3 focused on businesses and 1 focused on high school education. Nominees can select the category they feel they best fit in using the following guidelines. The judges will determine the final category and may move a nominee to a more appropriate category.

Business Categories

  • Emerging Business:  usually less than 18 months old, the founder(s) is the only employee(s), annual sales are low
  • Established Business:  usually has a few employees in addition to the founder(s), under $1,000,000 in annual sales
  • Mature  Business: has 10 or more employees, annual sales in excess of $1,000,000

Don’t be shy! We want YOU to nominate your own business. You know your business the best and only you can provide complete information.

Nominations are Due by August 17!  Find more information and a link to the nomination form on the EAC website.

 

Do you know a great entrepreneur?

We believe entrepreneurs drive our economy and would like your help in recognizing entrepreneurial achievements in Hamilton County.

EAC is excited to kick off the 2012 Entrepreneurship Celebration Awards! This event recognizes and celebrates entrepreneurship in Hamilton County, Indiana. The event will recognize the achievements of current influential and innovative business owners, future business owners, and those who educate future entrepreneurs. We hope you will join us as we bring together Hamilton County communities and applaud local entrepreneurial achievements!

Who is Eligible? All entries must be owned by a resident of Hamilton County and/or be headquartered in Hamilton County. There are 4 categories with 3 focused on businesses and 1 focused on high school education. Nominees can select the category they feel they best fit in using the following guidelines. The judges will determine the final category and may move a nominee to a more appropriate category.

Business Categories

  • Emerging Business:  usually less than 18 months old, the founder(s) is the only employee(s), annual sales are low
  • Established Business:  usually has a few employees in addition to the founder(s), under $1,000,000 in annual sales
  • Mature  Business: has 10 or more employees, annual sales in excess of $1,000,000

Don’t be shy! We want YOU to nominate your own business. You know your business the best and only you can provide complete information.

Nominations are Due by August 17!  Find more information and a link to the nomination form on the EAC website.

 

Call for Speakers: 2012 Entrepreneurship Celebration Conference

2012 Entrepreneurship Celebration Conference
Learn, Grow, Succeed

Thursday, October 18
Monon Center East
Carmel, Indiana 46032

Deadline for Speaker Submissions is March 15, 2012.

The Entrepreneurship Celebration Conference is a premier networking and hands-on events for entrepreneurs. Entrepreneurs, business leaders, investors and others make connections as they learn how to succeed in today’s business environment.

Do you have the expertise that entrepreneurs, small business owners, and others can benefit from? Are you seeking more exposure? Complete the Call for Speakers form here and submit it by the March 15th deadline.

We are looking for:

  • Dynamic speakers who can share their expertise with a diverse audience
  • Topic themes related to entrepreneurship such as building a sustainable business model, women-owned businesses, funding, using social media, etc.

Potential speakers will be contact by March 30.

Entrepreneurship Celebration Breakfast

Entrepreneurship Celebration Breakfast
October 27, 2011
7:30-9:00 a.m

Monon Center East

See the Celebration tab for complete details.

Entrepreneurship Awards Celebration at the Monon Center