http://www.momentum-mi.com/go/blog/ en info@momentum-mi.com Copyright 2010 2010-09-07T14:49:36+00:00 http://www.momentum-mi.com/blog/entry/find-out-how-to-plug-into-momentum-at-our-momentum-open-house/ http://www.momentum-mi.com/blog/entry/find-out-how-to-plug-into-momentum-at-our-momentum-open-house/#When:14:49:36Z Become part of the growing Momentum family! We are looking for start-ups, programmers, designers, professionals, investors, sponsors and organizations who want to engage in Momentum and help grow the West Michigan Start-up Community. Stop by one of our upcoming open houses to find out how: Momentum Open Houses Tuesday, September 14th 1:00 to 4:00 The Garage (Colonial Clock Building East entrance) 201 W Washington, Zeeland More Info Thursday, September 30th 1:00 to 4:00 The Factory (above Sanchez) 38 W Fulton, Grand Rapids More Info Announcements 2010-09-07T14:49:36+00:00 http://www.momentum-mi.com/blog/entry/get-connected-to-momentum/ http://www.momentum-mi.com/blog/entry/get-connected-to-momentum/#When:15:09:21Z Announcements 2010-08-26T15:09:21+00:00 http://www.momentum-mi.com/blog/entry/Thanks-to-the-growing-Momentum-Family/ http://www.momentum-mi.com/blog/entry/Thanks-to-the-growing-Momentum-Family/#When:14:04:27Z Thanks to everyone who came out to Demo Day 2010! The Momentum Teams rocked and we could not be more proud! Twelve weeks of hard work, focus and guidance have paid off and they are on their way! We would like to thank all of the people and organizations that have contributed their talents, time, and resources to support Momentum 2010 and West Michigan start-up community. Momentum Sponsors The Windquest Group MI-SBTDC GVSU Center for Entrepreneurship & Innovation Steelcase Warner, Norcross & Judd Performance Strategies Group The Grand Angels The Factory Lakeshore Advantage Atomic Object AimWest SeyferthPR NewNorth Center for Design in Business Disher Design & Development Atomic Object Kuipers & Associates Rockford Construction Atomic Object Microsoft Adamy Valuations Vivaro Water Mentors, Speakers, Advisors of Momentum 2010 John Balbach, MI-SBTDC John Malnor, Steelcase Mari Martin, PSG Jody Vanderwel, Grand Angels Linda Chamberlain, GVSU CEI Garrick Pohl, Crayon Interface Jeff Disher, Disher Design Bob Soeters, Disher Design Carl Erickson, Atomic Object Shawn Crowley, Atomic Object Mike Marsiglia, Atomic Object Patrick Foley, Microsoft Kevin McCurren, Grand Angels Stephanie Elhart, NewNorth Center Dave Myers, NewNorth Center Aaron Schaap, Elevator-up Matt Johnson, WNJ Tom Williams, McGarry Bair Brad McLean, Creative Byline Brandon Finnie, Adamy Valuations Ben Gott, Boxed Water Randy Thelen, Lakeshore Advantage Craig Hall, Grand Angels Jeff Bocan, Beringea Rick Galdi, Great Lakes Angels Michael Flanagan, MEDC Marc Weiser, RPM Ventures Nick Wasmiller, Seyferth PR Sandra Cochrane, MI-SBTDC Amy Kraal, HROI James Kuipers, Kuipers & Associates Ron Bullis, Ella Bullis Foundation Amanda Cooper, The Image Group Grant Carmichael, ThinkXD Sarah McNees, WMSTI Announcements 2010-07-28T14:04:27+00:00 http://www.momentum-mi.com/blog/entry/jaiplace.com-launch-tuesday-july-20-2010/ http://www.momentum-mi.com/blog/entry/jaiplace.com-launch-tuesday-july-20-2010/#When:18:30:54Z {image_1} Grand Rapids, MI – July 20, 2010 – The new JaiPlace.com is preparing to launch after many weeks of development. JaiPlace, created early this year by Jess Tomaz and Al Tomaz, is an interactive web-experience for consumers interested in personal and planetary wellness. The company is a finalist for the Innovation Michigan Award and was selected as a participant for the 2010 Momentum Michigan program created by visionary Rick DeVos. JaiPlace’s mission is to simplify the road to healthy and sustainable living for all. JaiPlace.com provides education and networking, along with authentic green and wellness products all in the context of a supportive community. “Our passion is inspiring and empowering people to reach their goals for optimum living,” says JaiPlace CEO Jess Tomaz. This is the first website of its kind to have a Grand Rapids focus, including a local business directory and events calendar covering all areas of conscious living. JaiPlace features everything from health food stores and farmer’s markets to yoga and alternative healthcare. “Though our long term vision is to have a national, even global appeal, we are very excited about starting in West Michigan,” says Tomaz. “There are a lot of wellness initiatives here and a community that is passionate about protecting Michigan’s natural beauty and precious resources.” Understanding the connection between personal wellness and environmental sustainability is what JaiPlace is about. JaiPlace is committed to social and environmental responsibility and sources products that were created with fair labor practices. To celebrate the new website, JaiPlace will host a launch party Thursday evening at Cascade Yoga Studio in Grand Rapids. The event will feature a showing of the acclaimed documentary film, Simply Raw, which follows 6 individuals with diabetes who transform their bodies and lives by eating nothing but raw food for 30 days. The event is free to all ages and will feature product giveaways from JaiPlace and its affiliates. News 2010-07-15T18:30:54+00:00 http://www.momentum-mi.com/blog/entry/win-win-partnering/ http://www.momentum-mi.com/blog/entry/win-win-partnering/#When:15:37:16Z Every Monday afternoon Momentum teams gather at Grand Valley State University’s Center for Entrepreneurship & Innovation to discuss the relevance of Guy Kawasaki’s book The Art of the Start and meet with area start up gurus. Momentum’s Art of the Start discussions are facilitated by Mike Morin, Momentum Team Director and SVP at MediaGuide . Win-Win Partnering Most partnerships will fail. How do you create one that will succeed? It takes work, business savvy, great relationships, and a lot of trust. Tips for Start-Ups: Network your socks off. Good partnerships always begin with good relationships. Always, always, always do your due diligence. 2+2 rarely equals 5. Set up those spreadsheets. If the numbers just aren’t there, don’t waste your time. Don’t stretch – if it is not a good fit, it’s not a good fit. Don’t contort yourself. Look elsewhere. Look at the numbers, then look at the numbers from the other party’s perspective. What unique needs do they have to motivate them to partner with you? Only win-win partnerships are sustainable. Partnering with large organizations can seem lucrative – make sure it makes sense and that your organization has the time to manage such a partnership effectively. Always have goals, milestones, and deliverables – and try to tie these to incentives. If you don’t start out with goals, any road will get you there. You have to have a champion on the inside, someone who is willing and able to do the heavy lifting to make it work. Before you get lawyers involved, whiteboard it. Set up your contracts verbally and really enhance that relationship. You pay a lawyer to think about every possible down side – thinking like that from the very start can kill your partnership before it begins. Creating partnership agreements is difficult because you hope that the partnership will be a huge success, but you must write the agreement as if the partnership will fail. If you’re not willing to sue over it don’t put the clause in the document. Things like that usually become hindrances later. Partnering takes a long time, and it’s always going to take longer than you think. General 2010-07-12T15:37:16+00:00 http://www.momentum-mi.com/blog/entry/entrepreneurial-stewardship-and-financial-literacy-lessons-from-ron-bu/ http://www.momentum-mi.com/blog/entry/entrepreneurial-stewardship-and-financial-literacy-lessons-from-ron-bu/#When:13:39:44Z At our weekly Momentum dinner at The Factory couple of weeks ago, the Momentum teams had the pleasure of a visit from Ron Bullis of Northwestern Mutual The Ella Bullis Foundation. As a business owner and perpetual entrepreneur, Ron’s specialization is in business planning, with a passion for teaching stewardship and financial literacy. Along with his non-profit, Ella Bullis Foundation, Ron now runs a strong and growing practice with new and established business owners and professionals, primarily located in West Michigan. He is also a frequent presenter of financial literacy and stewardship seminars. Ron shared the personal story of his business, Platinum One; how he achieved rapid financial success; and the mistakes he made that caused his business and personal financial collapse. Today, Ron draws on his experiences and entrepreneurial spirit to lead the Ella Bullis Foundation, a charity he founded to benefit families of babies in the Helen DeVos Children’s Hospital neonatal intensive care unit. Ron talked about how his experience in losing his business, investments, and personal property, and the death of his daughter, have made him passionate about entrepreneurial stewardship and financial literacy. Here is what he shared: My Mistakes Wrong Purpose- My controlling desire was money and financial success. 
“You will be as small as your controlling desire and as great as your most dominate aspiration.” – James Allen

 Lack of Financial Intelligence-
“Financial intelligence is not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki My Advice Personal Finances-
“Build your house before you build your barn.” If your personal finances are not in order, how can you expect that your business finances will be? Pay off your debt. Save systematically every month. Give something away. Be generous. Live simply and humbly. 
 Avoid too Much Debt-

“Warren Buffet has said that he has seen more businesses fail from alcohol and debt than any other cause.”

“Their property held them in chains. They think of themselves as owners; whereas it is they rather who are owned. Enslaved as they are to their own property, they are not the masters of their money but its slaves.”
— Cyprian Possess a “Stewardship Mindest

“…prudent entrepreneurs are those who understand that their role as a business leader is one of stewardship. …we are stewards of the resources we have pulled together from a variety of sources: money from investors and/or lenders, labor from our workers, time away from our families, space from a landlord, materials from our vendors, and so forth. As entrepreneurs, all of these folks trust us to use the resources given to us wisely and effectively.” 
– Dr. Jeff Cornwall, Belmont University
 The Right Employees are Key

-Employees are critical to the success of any business. Here are some thoughts on employees: -Hire the right people. -Lead them; don’t manage them. Everyone loves to be inspired…not told what to do. -Invest in their personal development. Help them reach their measure of success and they will reward you by helping you reach yours. Closing Thoughts Understand the Cash Flow Quadrant. Know where you are coming from and what changes you need to make to move into the Business Owner role. Define your purpose. Know what moves you and why. Then build habits around that. Invest in your personal development. Focus on leadership and understanding the laws of money. Get your financial house in order. Live debt free if at all possible. Pay the Investor back first! Recommended Reading: Cash Flow Quadrant, by Robert Kiyosaki
 The E-Myth Revisited, by Michael Gerber
 Sales Don’t Just Happen, by Stephan Schiffman
 The Richest Man in Babylon, by George S. Clason
 Good To Great, by Jim Collins A big thanks to Ron Bullis for sharing his wisdom! General 2010-07-12T13:39:44+00:00 http://www.momentum-mi.com/blog/entry/cutting-thru-the-clutter-great-advice-from-media-guru-nick-wasmiller/ http://www.momentum-mi.com/blog/entry/cutting-thru-the-clutter-great-advice-from-media-guru-nick-wasmiller/#When:13:40:14Z {image_1}What is the best way for a startup to communicate its message and get the media’s attention? On June 18, the Momentum teams learned first hand from local public relations guru Nick Wasmiller of SeyferthPR. 

These days, media outlets are working with half the staff and are getting double the requests.  They are inundated with e-mails and phone calls.  Nick gave us some valuable tips on cutting through the clutter.

 Engaging Reporters: The media is the gatekeeper to the audiences that entrepreneurs are trying to influence.  When engaging reporters, it is important to understand their readership/viewership and how your company/story relates to them.  What is your purpose? Who are you trying to influence? Why should they care? Remember -Audience/Purpose/Message. Research reporters to see who covers your industry. Begin with your local media, it will influence bigger stories down the road. Reporters hate attachments.  Post your news release in the body of your e-mail. Develop a fact sheet about your company and bios to have handy when reporters want more information. Position yourself as an expert.  Reporters are covering a variety of topics and are not proficient in all of them.  Be the go-to person in your industry. Be available to reporters for follow-up questions. Research bloggers who are the influencers in your industry and engage them. 
 Messaging: Develop a concise and compelling elevator pitch consisting of three or four simple sentences that describe the most important aspects of your story.  Avoid using industry jargon and buzzwords.  Test your message on your grandmother.  Does she get it?  Don’t overhype your products. Begin with the who, what, when, where and why.  Follow with a news release using a top-down approach that tells the most important part of your story first. 
 Key tips: Be the brand Be as professional as possible. Reporters need to know that you are credible Understand the competition Do not slam competition, you may want to partner in the future Be in love with your company. If you are not, who will be? Entrepreneurs who are passionate about what they do often are the most successful Embrace social media Launch in the middle of the week, when reporters aren’t trying to leave for the weekend or catch up. The best time for a news event is typically in the mid-morning/afternoon Monitor what is being said about your company. To get started, use Google Alerts and have any mention of your name, your company’s name and your company’s competitors sent to you.  A big thanks to Nick Wasmiller for the great advice! General 2010-07-08T13:40:14+00:00 http://www.momentum-mi.com/blog/entry/its-almost-here-momentum-demo-day-20101/ http://www.momentum-mi.com/blog/entry/its-almost-here-momentum-demo-day-20101/#When:14:26:32Z A community that supports a start-up culture attracts and retains creative talent! After 12 exciting weeks of focus, hard work, and the guidance of our fabulous mentors, the Momentum start-ups of 2010 are ready show their stuff! Please join us on July 26th as Varsity News Network, TerraPerks, JaiPlace, and Learning Interfaces, present their venture opportunities to the business and investment community. We hope to see you there! WHAT: Momentum Demo Day 2010 WHEN: Monday, July 26th 5:30-7:30PM WHERE: GVSU’s Loosemore Auditorium REGISTRATION: http://demoday2010.eventbrite.com Announcements 2010-07-06T14:26:32+00:00 http://www.momentum-mi.com/blog/entry/its-almost-here-momentum-demo-day-2010/ http://www.momentum-mi.com/blog/entry/its-almost-here-momentum-demo-day-2010/#When:14:26:12Z *A community that supports a vibrant start-up culture attracts and retains creative talent. * After 12 exciting weeks of focus, hard work, and the guidance of our fabulous mentors, the Momentum start-ups of 2010 are ready show their stuff! Please join us on July 26th as Varsity News Network, TerraPerks, JaiPlace, and Learning Interfaces, present their venture opportunities to the business and investment community. We hope to see you there! WHAT: Momentum Demo Day 2010 WHEN: Monday, July 26th 5:30-7:30PM WHERE: GVSU’s Loosemore Auditorium REGISTRATION: http://demoday2010.eventbrite.com General 2010-07-06T14:26:12+00:00 http://www.momentum-mi.com/blog/entry/the-art-of-raising-of-raising-capital-in-michigan/ http://www.momentum-mi.com/blog/entry/the-art-of-raising-of-raising-capital-in-michigan/#When:13:51:10Z Thanks to all of our panelists, partners and attendees who helped to make The Art of Raising Capital in Michigan a great event! {image_1} {image_2} {image_3} Announcements 2010-06-30T13:51:10+00:00