Coming Soon: Celebrate inVenture's First Anniversary!
inVenture will shortly be celebrating its first anniversary with a joint press conference featuring speakers from inVenture, Indiana University, the City of Bloomington, and RightRez (an inVenture tenant). Several exciting announcements will be made regarding inVenture's past success and future plans. LiveWire will send a special announcement to all subscribers soon with the press conference date and time. Watch your inbox for more news and help us celebrate our success!

Welcome BioConvergence
Plans are underway to open a new medical business, BioConvergence, LLC, in Bloomington in 2006. The firm, founded by Southern Indiana businesswoman Alisa Wright, will provide temperature-controlled storage for pharmaceutical products and be involved in biopharmaceutical research and development on a contract basis. It's expected to start next year with 30 employees and exceed 170 in five years. The average pay and benefits will be $22.44 per hour per employee, with none below $13.

The presence of educational institutions Indiana University and Ivy Tech, and other medically related industries such as various Cook Group companies and Baxter Pharmaceuticals, contributed to Wright's decision to locate here.

Life Science Career Fair 2005
Indiana University is sponsoring its annual Life Sciences Career Fair on Wednesday, October 5th, from 10:00 am - 3:00 pm at the IU Auditorium. The fair gives organizations an opportunity to connect with hundreds of talented IU undergraduate and graduate students from a variety of majors including the fields of science and business. To learn how your businesses can exhibit at the fair contact Kelli Conder at the Johnson Center for Entrepreneurship at 812-855-3526.

South Central Indiana's area economy is made up of many unique small businesses which often are overlooked. Each month learn about a local small business that you might have not known about!

RightRez, Inc.
It’s not always about the cheapest air fare. It’s the right fare with the right routes that create the right air reservation providing many of the world’s tour operators and cruise lines with improved profitability and the customer service their travelers require.

Founded just 2 years ago, RightRez has become one of the industry's leading providers of air travel solutions delivering cost-effective tools for their clients. “Our custom development and product lines improve the quality of air travel, manage the thousands of changes that occur on a daily basis, and improve business processes, driving increased profitability and improved efficiencies,” stated Michael vonFoerster, President and Founder.

RightRez is experiencing fantastic growth both in revenues and employees. RightRez moved from a garage startup to the inVenture incubator a year ago and continues to expand in space and employees. Currently RightRez employs 6 full-time and 5 part-time employees. Their clients number more than a dozen and include Holland America Lines, Crystal Cruises, Grand European Tours, and Globus and Cosmos, Princess Cruise Lines, Global Marine Travel as well as others.

The cruise and tour industries are continuing to grow at record pace, reaching and exceeding pre-9/11 rates. RightRez's clients are able to manage this growth through the use of its applications. To learn more, visit the RightRez website.

Pick a Target to Focus Your Marketing
By RoundPeg
A common mistake small business owners make is trying to sell to everyone! Reluctant to leave business on the table, they chase each potential lead or segment, failing to excel in any one.

Focus, Focus, Focus!
Without the marketing budget of a company like Coca-Cola or McDonalds, it is impossible to support a true mass market campaign, reaching everyone.

Instead, savvy marketers narrow their audience by concentrating on those who are most likely to buy. Crafting a message which is relevant to these prospects, they focus marketing efforts to the right customers with the right message at the right time!

Segment the Market
Defining your target customer starts with a process called Market Segmentation. Begin by dividing potential customers into distinct groups of buyers on the basis of needs, characteristics or behaviors.

For consumer products evaluate factors such as age, income, education, gender, marital status, and profession. Consumers with specific hobbies or lifestyles may have a greater need for your product or service.

Companies offering business-to-business products and services should segment their markets as well. Instead of age and income, factors such as the size of a target company (sales volume, number of employees), types of employees (blue collar, white collar), type of industry or product produced provide the criteria for segmentation.

Crafting the Right Message
Picking a target does not limit to whom you sell, only whom you actively pursue with your marketing. Once you have identified a target group of customers with specific needs that you can meet, you are ready to start marketing. Instead of spending a little money everywhere, concentrate your efforts where your core group is most likely to see your advertising. Don't worry if everyone else doesn't!

August 2-17: Small Business Planning Course Orientation Sessions
What: Thinking of starting a business? Attend an orientation session to learn about the SEED Corp. Feasibility and Business Planning Course. Upon completion of the course, you may qualify for up to $35,000 in loans. You need only attend one orientation session below to learn about the course.
Where: SEED Corp., 501 N. Morton, Suite 106
When: August 2, 9, 17th:
          12:00 pm - 1:00 pm
          August 3, 10, 16th:
          5:30 pm - 6:30 pm
Cost: Free
Contact: SEED Corp., 812-323-7827 (registration required)

August 10: Business Orientation Start-up Session (BOSS)
What: Learn what it takes to start your own business and become your own boss.
Where: SBDC, 501 N. Morton, Suite 106
Time: 3:00 - 5:00 pm
Cost: $20
Contact: SBDC, 812-339-8937 (registration required)

August 17: Icebreakers :: GET CONNECTED
What: Bloomington's new after-hours networking event for entrepreneurs' tech-based businesses.
Guest: Ted Widlanski, Indiana University
Where: Grazie Italian Eatery, 106 West 6th St.
Time: 5:30 - 7:30 pm
Cost: Free
Contact: inVenture, 812-335-7356

August 22: eBay - Beyond the Basics
What: Techniques for Serious Sellers
Where: SBDC, 501 N. Morton, Suite 106
Time: 10:00 am - 3:00 pm
Cost: $85 (includes lunch and book)
Contact: SBDC, 812-339-8937 (registration required)

August 23: Artists After Hours
What: Bloomington Area Arts Council Artists After Hours
Where: John Waldron Arts Center, 122 S. Walnut Street
Time: 5:30 - 7:30 pm

August 24: Business Orientation Start-up Session (BOSS)
What: Learn what it takes to start your own business and become your own boss.
Where: SBDC, 501 N. Morton, Suite 106
Time: 3:00 - 5:00 pm
Cost: $20
Contact: SBDC, 812-339-8937 (registration required)

August 25: QuickBooks Basics
What: Learn the basics of accounting and how to set up QuickBooks software to fit your needs.
Where: SBDC, 501 N. Morton, Suite 106
Time: 4:00 -6:00 pm
Cost: $39
Contact: SBDC, 812-339-8937 (registration required)

August 25: Business After Hours
What: Greater Bloomington Chamber of Commerce monthly Business After Hours
Where: IU Art Museum.
Time: 5:30 - 7:30 pm
Sponsored by: IU Bloomington Continuing Studies

September 2: New Economy, New Rules Seminar
What: NENR is a series of video conference presentations from industry leaders geared towards the information technology industry.
Where: Ivy Tech State College, Room 209
Time: 7:30 - 9:00 am
Contact: Marilyn Skirvin, Bloomington Economic Development Corporation, 812-335-7346

• The Source for Business Surplus

• US Treasury Auctions

• South Central Indiana .NET User Group

Now Offered: eBay Beyond the Basics: Techniques for Serious Sellers
Do you want to get rid of that old inventory that is just collecting dust? Trying to expand your business?

If you've been selling on eBay occasionally, and want to learn how to get the most out of your listings, this is the right class for you. In Beyond the Basics you'll learn how to:

• Start and/or grow an eBay-based business
• Choose the right Listing format
• Create compelling Listings
• Use eBay Listing Tools
• Market your eBay business
• Manage your Listings
• Pack and Ship Inventory
• Use online payments from PayPal

The South Central Indiana Small Business Development Center has Certified eBay Education Specialists on staff to assist your business in leveraging eBay's 135 million registered users to increase cash flow.

Call the SBDC at 812-339-8937 to learn more about how to turn that old inventory into new cash for your business.
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