Check out Jim and Chris at the Decatur Book Festival

http://www.schoolforstartups.com/check-out-jim-and-chris-at-the-decatur-book-festival/

We’re excited to invite everyone to hear Jim and Chris discuss a topic they’ve never before discussed in a public forum:

How They Got Started

They’ll be speaking at the Decatur Book Festival; the details are below:

  • When:  This Sunday 9/4/2011 at 1:15 to 2:00
  • Where:  Decatur Conference Center Stage (Ballroom A)
  • Link to the Event:  Click Here
  • Link to the Decatur Book Festival:  Click Here

We hope to see you there!

Start Up in a Recession – Why Not?

http://www.schoolforstartups.com/start-up-in-a-recession-why-not/

Last Saturday my wife celebrated a special occasion by going to brunch.  The occasion:  Our first child had just turned 1-month old and it would be our first time we go out “on the town” with her.  We’re big brunch fans so we decided to try a new place in Atlanta.

We pulled up Yelp to see what the crowd-sourcing opinion was of various places we’d not tried.  After a good 15 minutes of research on the iPad we settled on an intriguing French Market called Le Petit Marche, 5 stars on Yelp is hard to beat.  Our meal was delicious and the concept was both unique and it shared an “at-home” kind of feeling, similar to a good coffee shop.  I was intrigued to learn more about the story behind the place and its owner.

The owner was not hard to spot. First, she seem to know most of the people that walked through the door.  Additionally, she was out in the restaurant taking orders, busting tables, ringing up customers, and selling her market goods.  I got to talking to her about her story and was real encouraged.

She had a career in real estate in California and decided to relocate to Atlanta several years before the great real estate collapse started.  She was growing tired of real estate and grew more interested in starting and running her own market food shop.  She started planning the concept and working out how she could launch it.  I was floored to learn that her planning period seemed to conclude right around the late 2007/2008 market crash.  She knew that residential real estate in Atlanta was not going to work so she plowed right ahead.

Her primary concept was to be more of a french goods and foods market, almost like a micro Dean and Deluca, with a little food counter where patrons would order small deli-type foods.  The owner did what any recession-era entrepreneur would do and watched her customers closely.  It was obvious that the foods market concept was struggling but her patrons loved the food counter.  She also noticed that the hours she had picked weren’t what the customers wanted.

So, she evolved her concept by bulding up the actual restaurant part, reducing the market concept to more specialty gift items, and rotating the hours to meet a growing breakfast/brunch crowd.    Amazingly these changes allowed her to not only survive but to become one of the best breakfast/brunch places in Atlanta (close 5 STARS ON YELP).

So hats off to her.  She not only started a business in the recession but she built it to be among the best in its class.

 

 

Entrepreneurs and Economics

http://www.schoolforstartups.com/entrepreneurs-and-economics/

Great article in this morning’s Wall Street Journal about America’s love/hate with economics. The article was written by Stephen Moore. Here is an interesting quote regarding entrepreneurs:

Consumers lined up for blocks to buy things in empty stores in communist Russia, but that never sparked production. In macroeconomics today, there is a fatal disregard for the heroes of the economy: the entrepreneur, the risk-taker, the one who innovates and creates the things we want to buy. “All economic problems are about removing impediments to supply, not demand,” Arthur Laffer reminds us.

You can read the entire article here.

Franchise I Want Most – Great Idea

http://www.schoolforstartups.com/franchise-i-want-most-great-idea/

I hope you saw the stories about this guy and his store outside Buffalo. He sells ONLY things made 100% in America.  And, business is booming.

Want an idea for a business to emulate (fancy word for copy)?  Pick this one.  The concept is perfect for these times and allows premium pricing. People will pay extra for America things, and will probably buy things in this store they have no need for. I love this idea, love it, love it.

If I knew anything about retail, this is the one I would do.

 

Why I Love My Daycare

http://www.schoolforstartups.com/why-i-love-my-daycare/

We just had a baby boy, and need some daycare help but not fulltime help.  My wonderful, beautiful, and talented wife searched the city loking for a daycare that would charge by the hour.  Most daycares charge by the week or month, never by the day or hour.  But, because of my schedule, we need a place where you can drop a kid off for 2-3 hours, or for lunch.

We (ok, she)  looked far and wide and finally found a place about 200 yards from our house.  Its not much to look at, but they offer the exact service we need.  Hourly daycare, offered 24 hours a day.  I can drop William off on the way to lunch and get him a hour later, and then we can drop him off to go to dinner and a movie, picking him up at midnight.

Entrepreneurship is about fulfilling a need.  Bingo!  They get a A-plus in my house.  And every other day care in the world is crazy to not copy them…..

 

Yet Yet Another Super Cool Pic

http://www.schoolforstartups.com/yet-yet-another-super-cool-pic/

this one taken by Chris Hanks……

Yet Another Super Cool Pic

http://www.schoolforstartups.com/yet-another-super-cool-pic/

we should have a contest…..

 

 

 

GUEST post: Emily Jones

http://www.schoolforstartups.com/guest-post-emily-jones/

Venture-Debt Financing Is Not Against Entrepreneurs

Usually, to raise capital, entrepreneurs offer investors preferred stocks in their fresh ventures. Preferred stocks terms always have powerful
shield for investors, and in the end, the company incur no debt.

Venture debt is another form of financing companies. Here, investors lend the money to the company instead of buying an ownership.

For instance, UTFC Financing Solutions LLC, a Utah based venture debt firm, lends entrepreneurs. Here, UTFC reserves the right to purchase a
portion of the firm at any time.

Many critics see such provisions as ‘backward’ and ‘anti-entrepreneur’. However, many critics provide sufficient grounds why early-stage debt may be a ‘preferred’ option.

If we compare in a standard investment scenario, we will see that the use of venture debt over equity decreases by 10 percent the value of the
company the entrepreneur has to give to investors. It could be even $1.5 million just through a single round. Now, if the firm becomes successful, the
millions of dollars that the founder profits, keeps or share with his employees. This is certainly positive for the entrepreneurs.

But, why an investor should do a debt deal if it is positive to the entrepreneur. They would do as they get more of the company. Again, why
debt investors give up the percentage? Actually, here they get reduced risk and priority over equity investors.

However, many critics say, this does not work in the end-especially not with tech companies. It has seen that many tech companies have
been blessed by venture debt.

Actually, each situation is different. Preferred stocks might be right sometimes. However, venture debt is also another way to tread on.

Emily Jones is a contributory guest columnist for various websites and communities including Oak View Law Group and CMFA . She has completed her Graduation in Finance and is currently working with an Investment company located in California. She has written some great articles on topics like bankruptcy, investment opportunities, debt management,  debt settlement programs and more.

Another cool pic

http://www.schoolforstartups.com/another-cool-pic/

I think this picture says something about entrepreneurship.  Not as cool as Jacob’s, I agree.

All you remember what Stanley and Danko say in “Millionaire Next Door” about entrepreneurs and their cars?  if not, you need to read it….

New Addition – She's Enjoying the Book (Beats Jim's Best Pic Ever)

http://www.schoolforstartups.com/new-addition-shes-enjoying-the-book-beats-jims-best-pic-ever/

The Entrepreneur School is excited to announce a new addition to the Dearolph family:

Carter June Dearolph born 7/17/11 is pictured below. Announcement

You can see she’s enjoying her copy of Startup School so make sure to get you’re copy and help us out by writing an Amazon Review! (This book will help finance her first business as well as yours!)