Top 10 Reasons Start-ups Fail

Having started my own Web 2.0 company – and then having to dissolve it 2 years later – I learned a ton about what to do and what not to do in a start-up environment. Developed partly for therapy, and partly because of my eagerness to share this wisdom with fellow first-time entrepreneurs. There are obviously several other reasons why start-ups fail, but these are the ones I resonate with the most. Please feel free to add to the list…

10 Minutes of Start-up Fame in the Willamette Valley

Everybody deserves to experience “10 Minutes of Start-up Fame.” Any entrepreneur wanting the opportunity to pitch their Big Idea to a group of fellow entrepreneurs, investors and service providers should attend the Smart-ups events.

The next Smart-ups event is Thursday, April 23rd at the Valley River Inn in Eugene, Oregon. Be sure to bring your business cards and enter for a chance to deliver a 5-minute pitch to the Smart-ups audeince, followed by 5 minutes of Q&A.

Supporting Entrepreneurs in Your Community

Last month (March 25) I attended the Jefferson Grapevine event in Medford, OR. The Jefferson Grapevine is a network created by SOREDI (Southern Oregon Regional Economic Development Inc.). The Jefferson Grapevine “celebrates the spirit of entrepreneurship in Southern Oregon providing a unique and powerful forum where leaders of growing businesses can network with fellow entrepreneurs, key advisors, business professionals, and qualified funding sources.”

I’ve had the pleasure of attending a couple of their events this year as part of my role as regional coordinator with the Oregon Entrepreneurs Network. Their most recent event showcased Roger Akers as their keynote speaker. Akers is the founder and managing partner of Akers Capital in Sacramento, CA. Akers Capital manages Pac West Technology Fund I, LP, an investment partnership that invests in emerging technology companies in the Northwest and Northern California.

Akers is a successful angel investor and spoke about how he and his team helped stimulate an entrepreneurial movement in the Sacramento area. His talk was so refreshing on many levels. He indicated that when they initiated this effort in Sacramento they had 600 start-ups express interest – which was surprising to most people. The common theme among these 600 businesses was their lack of ability to find mentors/advisors and funding from accredited investors. This is the same challenge many of the entrepreneurs I meet experience in their own communities – myself included!

I’ve had 33 start-ups come to me in the last 3 months seeking mentors, educational opportunities, expert service providers and of course – funding! I’m sure this is a challenge in many small to mid-size communities throughout the Nation. Knowing that entrepreneurs and innovators are key to stimulating an economy, Akers’s talk could not have come at a better time for me – or for Oregon-based start-ups.

Akers provided the following overview for what it takes for a community to rally around their innovators and entrepreneurs:

• Gain an understanding of the local market size of start-up businesses.
• Put a support mechanism in place for providing mentors, advisors, and educational and funding opportunities (i.e. OEN, Smart-ups, Jefferson Grapevine, Central Oregon Pub Talks).
• Develop a public awareness campaign to educate the public about how entrepreneurs are the fabric of the region’s economic development. Show how entrepreneurs bring value to your community.
• Engage your local university – including the tech transfer department. Tie this department in with efforts happening outside the universities.
• Build a capitol network that is diverse in its make-up and trained on how to support local new ventures.
• Engage service providers who support emerging growth-oriented businesses – including, lawyers, accountants, bankers and insurance providers.
• Celebrate the successes of your local entrepreneurs!

I realize many of these points seem simple; however implementing them simultaneously, gaining support from the appropriate organizations, and keeping the momentum going can be the challenge.

It’s organizations like the Oregon Entrepreneurs Network (based in Portland), the Jefferson Grapevine (based in Medford), Smart-ups (based in Eugene), and the Central Oregon Pub-Talk (based in Bend) that foster the growth of entrepreneurs and investors. Please reach out and support these organizations in a way that’s appropriate for you.

Thanks again to Roger Akers for donating his time to visit the Jefferson Grapevine and share his knowledge and experience with smaller communities working to foster their own entrepreneurial efforts. Kudos goes out to Ron Fox, executive director at SOREDI, and his team for hosting Roger at their recent Grapevine event. Excellent program!

Complete Idiot’s Guide to Cleaning by Mary Moppins

This book is actually written by a local woman (Mary Findley) here in little ole Eugene, Oregon! This would make a great gift – and it’s only $14.

I’m all about supporting local entrepreneurs – especially women entrepreneurs…Go Mary!

Mary also sells eco-friendly cleaning supplies. She’s got a very cool innovative mop that I think I’m going to check out myself.

And be sure to subscribe to Mary’s blog – “Amazing Cleaning Tips 101.”

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Supporting Start-ups in Oregon

I co-founded a new not-for-profit group in Eugene, Oregon called Smart-ups. Being an entrepreneur myself it’s a pain in the you know what to trek my butt up to Portland, Seattle or down to San Francisco to find support for my start-up OsoEco.

So a friend of mine – Nathan Lillegard, who is the CEO and founder of Floragenex (a start-up in Eugene) – and I decided to start a group in little ole Eugene to help connect entrepreneurs to investors, service providers, mentors, and business and community leaders. Hence, Smart-ups was founded!

We had our 3rd Pub-Talk event this past week (Oct 14) and it was very successful – 101 people showed up to show their support. Three companies from within the Willamette Valley pitched their business plan in less than 12 minutes. The winner was Take Shape (Springfield). They have a patent-pending body scanning technology that sets a news standard for the way human fitness is evaluated.

We also had a 1-minute pitch contest where four entrepreneurs from the Eugene-area pitched their businesses in less than one minute. The winner was Score 4 Reading (Eugene). Score 4 Reading is a research-based innovative program for creating successful readers from struggling readers, grades 3rd – 9th.

Congrats to all companies for being selected to present.

We got some good press as a result. Visit www.smartups.org to read more.