Thinking about starting a tech business in the Northeast Ohio region? 

It can be a very daunting task.  Think about all you have to do; recognize an opportunity write the business plan, design the product, create a proof of concept, perform market research…the list goes on and on.

Plus, maybe you haven’t started a business before!

One thing I’ve learned from starting businesses and helping starting businesses start is that you shouldn’t be afraid to get help.  There are a number of resources out there to help you get started, not just the Key Entrepreneur Development Center.

Have you considered joining a technology incubator?  There are a number of incubators across the region.

NEOinc, the Northeast Ohio Incubator Collaborative, provides coordinated services to entrepreneurs desiring to start or grow technology-oriented businesses in the 21 counties of Northeast Ohio. 

Individually each of these incubators provide high quality managerial and facility services to entrepreneurs including business concept assessment and coaching, links to appropriate sources of funding, links to business specialist resources such as attorneys, HR specialists and accountants, low cost office, lab, and manufacturing space, shared offices facilities and equipment, and flexible lease terms. 

Want to learn more?  You’ve got a few options:

• Go to http://neoinc.org/ and read about what they do
• Connect to them through their RSS feed 
• Or contact David Crain at Magnet and he’ll give you a hand: dave.crain@magnetwork.org.

What are you waiting for?  Go make it happen!

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Hello everyone,

Anne Hach is the Executive Director of the Key Entrepreneur Development Center and wanted us to know about the 8things that you can do to grow your business now! Here they are:

1. Focus on your core product.  Focus you sales efforts on those products or services that generate the highest return. If these are not your core products consider why not.

2. Update your marketing pitch.  Make sure that your marketing statement fits into a concise 30 second statement that includes, the benefits of your company and its products, an easy way for people to remember you and establishes a reason that they have for contacting you.

3. Make sure that the information you have about your market is current.  Don’t make decisions based on market information from 5 years ago. Know the current trends of your industry and those of your customers.

4. Make sure that you have priced your product correctly.  Raising prices is never fun, but then neither is selling at a loss. Analyze your cost structure, your market position and your competition to make sure that your current prices reflect where you want to be.

5. Incorporate your business plan with your daily to do list.  Many people create a business plan when they start their business but fail to make it part of their day to day operations. Break down each goal that you established in your business plan to specific action steps and make them a part of your weekly to-do list.

6. Offer rewards for word of mouth referrals and make it easy for current customers to pass your name along.  Word of mouth is still the best form of advertising but you need to make it easy for people to refer your name. Offer a reward or at the very least remember to say thank you.

7. Join associations and organizations to network with customers and potential referral sources.  Its not what you know or who you know, its who knows you.

8. Consider forming strategic alliances with related businesses.  Find people who serve the same market but sell different products or services from yours. Talk to each other. Refer each other. Both of your businesses will grow. Remember the best way to get a lead is to give a lead!

Learn more from Anne Hach on Episode 3 of “The eShow”

The Dream Business Series Starts November 1st with expert Shelley Prueter!

Are you cut out for the Restaurant Industry? Even for people who have been successful in other industries, opening a restaurant can be one of the most challenging yet fulfilling entrepreneurial ventures one can encounter. Chances of success often hinge upon how well prepared they are to face the challenges. The purpose of this course is to provide some basic knowledge on why people succeed or fail when they open a new restaurant and to provide some realistic benchmarks that you can use to enter into this multi-faceted business. Discussion points will include the importance of a Business Plan in mapping your journey, 12 Elements of Success, 21 Elements of Failure, how to calculate food & labor costs, and tips on financing your first restaurant. If opening a restaurant is your dream business, do it with your eyes wide open!”

Click here to learn more about the course!