inVenture: Advancing Innovative Businesses September '05 
News in a Flash

Introducing: First Annual Fuse Business Innovation Awards
The entrepreneurial community is the backbone of our local economy. Beginning this year, the SBDC and inVenture will be recognizing this community at the First Annual Fuse Business Innovation Awards luncheon. This luncheon will be the first event to focus specifically on the small business community and spotlight its innovation, creativity, energy, and growth. These are the entrepreneurs in our community who are doing things differently and making an impact. We want to recognize the businesses that are “Brands To Watch.”

What: First Annual Fuse Business Innovation Awards Luncheon
Date: October 25th
Time: 11:00am to 1:00pm
Location: Chapman's Restaurant & Banquet, 300 S State Rd 446, Bloomington
Price: $25.00 per person
Seats are limited, register today by calling Terri at 339-8937.

Mark Your Calendars: Celebrate inVenture's First Anniversary!
inVenture, along with Indiana University and the City of Bloomington, invites you to a press conference marking inVenture's first anniversary. Please join us on September 15th, 10:00 am at the IU Research Park (501 N Morton St.) for several exciting new announcements regarding inVenture's success and its future plans. inVenture tenant RightRez will be featured, as well as speakers from Indiana University and the City of Bloomington, who will unveil important announcements regarding inVenture and the Certified Technology Park. For more information please contact inVenture at 812-335-7356.

SBIR/STTR Proposal Preparation Workshop
Join Indiana S4 Initiative counselors and special guests Jim and Gail Greenwood of Greenwood Consulting Group, Inc. (GCGI) for an in-depth SBIR/STTR training program designed to help businesses create successful grant proposals. All workshop participants will be eligible for a free proposal review from GCGI.

The training session is September 13 & 14. Register for Day One (directed towards those new to the SBIR program), Day Two (focused on those interested in managing existing SBIR awards or pursuing a Phase II grant), or both.

 
Small Business Spotlight

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!

Hanapin Marketing, LLC
Founded in February 2004 by Pat East, Hanapin Marketing designs and implements Internet marketing strategies using a variety of tactics such as Search Engine Optimization ("SEO"), Pay-Per-Click Advertising ("PPC"), and Email Marketing. Pat founded the company after implementing and managing the PPC and email marketing campaigns for AuthorHouse, helping them become the world's largest book publisher just six years after their founding. AuthorHouse became Hanapin's first client, is a testament to Patrick's expertise in the Internet marketing industry as well as the partnership approach he takes with clients.

In under 18 months, Hanapin Marketing already has 25 clients on monthly retainer. Among these are three Indiana Growth 100 winners, one Inc 500 winner, and two Fortune 500 companies. Hanapin has developed an expertise in understanding the idiosyncrasies of doing business online and looking at each campaign from the business owner's perspective. Whether your website sells products or generates warm leads, Hanapin understands how search engines and the Internet can produce high-yielding results. To learn more, visit the Hanapin Marketing website.

 
Tips of the Month

Which Entrepreneurial Stage Describes You?
By: Edward Lowe Foundation
Businesses grow through several stages. The Edward Lowe Foundation recognizes four distinct stages, each with its own distinct set of problems for business owners. Which describes you?

Aspiring (Stage 0)
The aspiring stage is comprised of people who are thinking about starting a company. There are many. Walstad and Kourilsky reported that a Gallup survey sponsored by the Kauffman Foundation found that 66% of Americans 25-44 years of age were interested in starting a business (Seeds of Success, Kendall-Hunt, 1999, p. 16).

Startup (Stage 1)
Startup stage companies will struggle with a host of issues, not the least of which is survival. A recent SBA study found that about one-third of all new businesses fail in the first four years. The startup CEO must fund operations, find and develop markets, hire employees, and prove that a product or service can generate enough cash to stay in business.

Second Stage
When a company enters second stage, there are new challenges. The market has been proven, and survival is no longer a daily issue. Business owners work on developing a long-term vision for the company and prepare it for the transition from entrepreneurial management to professional management. The business stops being just about the business owner and instead develops a culture and a structure that are no longer dependent on the founder.

Third Stage
The professionally managed firm can continue to scale in size, since it has a professional management team in place, along with a board of directors. Frequently, entrepreneur founders do not continue to run their companies when they reach stage three.

Upcoming Events

September 2: New Economy, New Rules Seminar
What: NENR is a series of videoconference presentations from industry leaders geared towards the information technology industry.
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 7:30 - 9:00 am
Contact: Marilyn Skirvin, Bloomington Economic Development Corporation, 812-335-7346

September 13-14: SBIR/STTR Conference
What: SBIR/STTR Proposal Preparation Workshop by Jim and Gail Greenwood of Greenwood Consulting Group, Inc.
Where: 8275 Allison Pointe Trail Ste. 120, Indianapolis
Cost: $200 for two-day registration
Register: Online
Sponsored by: Indiana S4 Initiative

September 15: Business After Hours
What: Greater Bloomington Chamber of Commerce monthly Business After Hours
Where: Employment Plus, 1983 Liberty Dr., Bloomington
Time: 5:30 - 7:30 pm
Sponsored by: Employment Plus, Inc.

September 21: 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)

September 27: 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
Contact: BAAC, 812-334-3100

September 27-28: Indiana Venture Conference
What: This conference will feature many of Indiana’s strongest innovation-based ventures and entrepreneurs and encourage the kind of networking that is essential to creating a thriving culture of entrepreneurship in Indiana.
Where: Indiana Convention Center, Indianapolis
Cost: $195.00
Register: Online

September 28: Chamber Annual Meeting
What: Greater Bloomington Chamber of Commerce Annual Meeting
Where: Bloomington/Monroe County Convention Center
Time: 11:30 - 1:30 pm
Cost: $30 per person

October 3: 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)

October 6: New Economy, New Rules Seminar
What: NENR is a series of videoconference presentations from industry leaders geared towards the information technology industry.
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 7:30 - 9:00 am
Contact: Marilyn Skirvin, Bloomington Economic Development Corporation, 812-335-7346

 

USeful Links
Web sites to help your business succeed.

 

SBDC Business Solutions

New Economy, New Rules Seminar Now Available Downtown
Techpoint's New Economy New Rules seminar is held the first Friday of every month and hosted by the Bloomington Economic Development Corporation, inVenture, and Indianapolis law firm Barnes & Thornburg. This monthly interactive video-feed breakfast series is open to the public. It seeks to introduce revolutionary thinking about how business is done today and how it will be done tomorrow given the advent of new technologies and processes, as well as legal and regulatory frameworks. Attendees network over breakfast, share ideas, and sharpen questions for subject matter experts and VIP panelists.

Date: First Friday of each month
Time: 7:30 to 9:00am
Location: inVenture, 501 N Morton St., inVenture Conference Room

Call the SBDC at 812-339-8937 to learn more about the New Economy, New Rules Seminar Series.
View More Small Business Solutions

 
Thank you to the financial supporters and partners of inVenture and the South Central IN SBDC: Bloomington Economic Development Corporation, Bloomington Urban Enterprise Association, Cairril.com Design & Marketing, City of Bloomington, Greater Bloomington Chamber of Commerce, Indiana Economic Development Corporation, Indiana University, SBC, and the Small Business Administration.

Sponsor:

Kiva

This newsletter is produced by the inVenture and is intended to keep our clients and partners informed of current programs and small business issues. Out of respect for your time, we will only send one announcement a month. If you would prefer not to receive this newsletter, please to be removed from our mailing list.

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inVenture: Advancing Innovative Businesses