Ideas To Deals

Venture Highway Launches to Help Entrepreneurs

Venture Highway Launches to Help Entrepreneurs Build more Successful Businesse through Online Tools, Resources & Curriculum

Online Curriculum Designed to Guide Entrepreneurs, Augment University Entrepreneurial Education Courses

(January 10, 2011) — In reaction to job losses and a strong desire to leave the structure of corporate life, more individuals are looking to start their own businesses. A new online learning system was released by Venture Highway today to help that increasing number of aspiring entrepreneurs to be more successful in launching and growing a business.

“Venture Highway combines an easy to follow, web-based curriculum that is based on best practices with the most comprehensive resources and tools available for entrepreneurs, said Kevin Gadd, founder and CEO of Venture Highway. “Essentially, Venture Highway takes away the guesswork of launching a start-up by offering a powerful guide to turn great ideas into successful businesses.”

Venture Highway is a web-based, user-friendly system that takes entrepreneurs starting a business through a proven step-by-step process separated into five distinct modules. Modeled after the Circle of Prosperity, which illustrates a typical business lifecycle, Venture Highway helps entrepreneurs Innovate for new ideas, test their Viability, Plan for business growth, funding or investment, Operate and scale efficiently, and plan for the Exit of the business venture—from merger to succession to IPO. In addition to this proven roadmap, each module includes valuable tools and resources to increase the efficiency and speed of venture growth.

There are currently two different versions of Venture Highway available—one for entrepreneurs and a curriculum-based version designed specifically for colleges and universities—both of which can be accessed on Venture Highway’s website at www.venturehighway.com.

About Venture Highway

Venture Highway, an online system to help entrepreneurs more successfully launch and grow investable, viable businesses, is based in Columbus, Ohio. Whether an individual has an idea for an online, retail, service, product or home-based business, the Venture Highway curriculum is an easy to follow guide based on best practices.

Venture Highway was founded by Kevin Gadd, who has guided entrepreneurs in his role at TechColumbus, home of one of the nation’s most successful nonprofit incubators, and has built and led several successful ventures. NCT Ventures, a venture capital firm based in Columbus, provided the framework for the Venture Highway model and is the organization’s primary investor.

To learn more about Venture Highway, please visit its website at www.venturehighway.com or call 614.562.7324.

via www.techcolumbus.org

#FollowFriday...Chanthana Tsai

This week my #FollowFriday person you should know is Chanthana Tsai.  This post is a little different than most of my #FF posts.  This is a true on-line friend of mine because we have never actually met in person (unless you call being on the same 26.2 mile stretch of streets in Chicago last October meeting). While I realize that this blog is read worldwide (well at least when I am traveling and pull it up) much of the readership is in Columbus, Ohio so I thought I'd take this opportunity to introduce everyone to Chanthana.

First things first it is pronounced “shawn-tonna”. 

Chanthana lives in one of my favorite cities (other than Columbus) Chicago.  She is originally from the west coast and went to college at Pepperdine University.  She is very well versed in social media marketing.  She also brings a background in business project work from her days at Deloitte & Touche.  Clearly Chanthana is committed, motivated and energetic with a focus on quality client outcomes.

OK now on to the important stuff...Chanthana is a runner.  This is actually how I connected to her on Twitter as she was building a twitter list of runners planning to run the 2010 Chicago Marathon.  From there I started following her tweets which allowed me to connect to her on Dailymile.  Dailymile is a great on-line community for tracking athletic activity with a huge running contingent.  I was struggling last year to come back from a foot injury and running was tough but being able to follow others that were preparing to run the Chicago Marathon helped me keep at it.  Chanthana specifically helped me as her training was awesome. Seeing what she was doing and where she was running motivated me.   She also engaged the community by commenting and helping others with their training, including helping me.  This commitment on her part to get better as well as helping others recently led to a pretty cool honor for her...this week Chanthana was named to the Dailymile Team. The team was created to share one's passion for running and I can think of no one more qualified and deserving than Chanthana Tsai.  Here is the video Chanthana made to submit to become a member of the team...

Given all that this is my #FollowFriday recommendation for Feburary 18, 2011.  Be sure to check out Chanthana on Dailymile and be sure to follow her on Twitter at @Chanthana.

#FollowFriday...Amy Schmittauer

This week my #FollowFriday person you should know is Amy Schmittauer.  Amy is a social media consultant and founder of AMS Social Media.  She is also a blogger at Waking Up Amy and a skilled copywritter.  One of her claims to fame is her video work on YouTube. 

I first became aware of Amy through Twitter.  I didn't know who she was other than she was from Columbus which is a reason for me to follow her.  After a while I kept seeing Amy's tweets pop up in my Twitter stream and I decided to check out her site.  I was very impressed by what I saw specifically her video blogging.  I am a fan of iJustine's ability to easily share herself with her audience through video.  Amy has that same skill.  She is able to be funny,  interesting and informative at the same time without coming off as pushy.  Not everyone can do this but Amy can.  This skill will serve her well as social media and marketing continues to develop the use of video.  Here is a video montage of Amy's adventures in 2010 (good stuff).

 

Amy has recently taken the plunge into full time business ownership by launching AMS Social Media (although she has been doing this on a part-time basis for awhile).  I spent some time with Amy on Wednesday and she is really on top of what works in the social media arena.  She has some plans for the future that will really make a difference for not only her clients but others trying to get a handle on the use of social media.

One final plug...Amy was part of the Calendar Girls project to promote epilepsy awareness in Columbus.  This is a great cause put together by some really great people.  Click the link above for more information.

Given all that this is my #FollowFriday for Feburary 11, 2011.  Be sure to check out Amy all over the interactive world, go to Waking Up Amy to find her.  Also be sure to follow Amy on Twitter at @Schmittastic. 

 

Five Steps to a Healthier Banking Relationship via Invergarry Partners

Tell the truth.  There is no reason to hide anything from your banker.  By telling them everything about you and your business, it helps your banker do her job to the best of her abilities.  If you try to do her job for her by making assumptions about what information will be helpful or harmful in her underwriting process, you may hurt your chances of optimizing your relationship.  Good news and bad news should travel at equal speed to your banker.

Cash is king.  You should be able to show a history of positive cash flow that is sufficient to cover your payments of principal and interest on your terms loans by a factor of 1.25 times to 1.  The bank wants to see that you have cash cushion so that if unseen factors diminish future cash flow compared to your historical cash flow, you’ll still be able to make payments.

Keep leverage low.  You should have enough equity in your business so that your debt is no more than two or three times equity.  If you are taking all of your earnings out of the business in the form of dividends or other cash payments, leverage may exceed the amount that makes your banker comfortable.  Again, she wants to see a cushion that you can fall back on if your business changes adversely.

Don’t ask for more debt when you really need equity.  Business owners are wired to run their businesses on other people’s money to the greatest extent possible.  Bank debt is the cheapest and, until recently, the most available form of cash for a business.  If your banker tells you she cannot provide more debt until you raise more equity, it is a sign that your leverage is too high and/or your cash flow cannot support new debt.  Consider asking friends and family for equity injections that have repayment terms that are favorable to you and your business.

Pay for professional advice.  You will distinguish yourself from other bank clients by presenting financial results that are examined and ratified by an outside firm, that are professionally presented with clear and concise narratives and footnotes and that are clearly the work of a professional.  Unless you are in the business of doing this very thing for others, use a professional.  Get into the habit early in the life of your business, and its value to outsiders who may be considering selling to you, buying from, investing in your business and buying your business will increase enormously.

via www.invergarrypartners.com