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Earlier this week, President Obama declared today, November 19th, National Entrepreneur’s Day; http://bit.ly/bqjZsp. In his words, entrepreneurs “power the engine of our Nation’s economy. These intrepid individuals translate their vision into products and services that keep America strong and competitive on a global scale, and build opportunity and prosperity across our country.” What can you do to celebrate National Entrepreneur’s Day? In short, pay it forward. We all get busy, but quite often just a few minutes of your time can make a huge impact on someone else’s success as well as our own. Today is the day to; 1. Finally respond to that email, return that call, provide that intro, or review that plan that an aspiring you to go for your dreams!. We all have them buried somewhere in a long list of priorities, but today is the day to find the time to make it happen. 2. Visit http://kiva.org, a microlending site whose mission is to connect people, through lending, for the sake of alleviating poverty. They have already facilitated well over $100mm in loans, and even a small loan can make a big difference. Happy Entrepreneur’s...

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STRUGGLING WITH PROOF OF CONCEPT?


Posted By on Sep 23, 2010

This should help you out: The best proof that customers really want your product or service is them buying it. But if you haven’t gotten to that stage, here’s what you can do: you can show proof of concept by surveying them, observing behaviors of theirs that point to a need for your product or service, and/or citing 3rd party market research that they need your solution. This can be very cost This should help you out: The best proof that customers really want your product or service is them buying it. But if you haven’t gotten to that stage, here’s what you can do: you can show proof of concept by surveying them, observing behaviors of theirs that point to a need for your product or service, and/or citing 3rd party market research that they need your solution. This can be very cost efficient. Next, to prove that you can build the solution, you can cite your past track record (example: anything you have built in the past), or you can get a proposal from a vendor who will build it for you. This will prove that the solution can be built, and will specify the cost to build it. Finally, to establish proof that you can sell the solution, you can gather letters of intent from prospective customers and/or customer testimonials that they will purchase your solution in the future. As you can see, you CAN establish proof of concept with very little money, without a working prototype of your product/service, and without actual customers. That should be great news for many of you. Especially in these economic times. Truly, PRC...

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Entrepreneurs Stay Encouraged!


Posted By on Aug 5, 2010

Winston Churchill once said, “If you’re going through hell, keep going.” This quote is really applicable to entrepreneurs. Mainly because rarely, if ever, does the process of starting and growing a venture go smoothly. There are often many mis-starts and mistakes, and course correction is nearly always required. The way I see it, the fact that things don’t always go smoothly or work at first is a good thing. It weeds out the weak entrepreneurs, which provide more opportunity for profits and growth for us stronger entrepreneurs. TOUGH TIMES MAKES YOU STRONGER! THINK OF IT AS A WORK OUT. ONCE YOU HAVE COMPLETED THIS INTENSE  ROUND OF FUNDING.(WORK OUT) LOOK HOW MUCH STRONGER YOU WILL BE. AS WITH EVERYTHING, IT IS KEY THAT YOU HAVE THE RIGHT PEOPLE ON YOUR TEAM PUSHING YOU AND ASSISTING YOU IN YOUR EFFORTS. PRC IS A GREAT TEAM TO WORK...

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We have lately had an enormous interest in our “Seller Guarantee” program.(which is not a seller carry or owner financing) This is a great way for entrepreneurs to purchase a business with little or no money down. And YES these type of programs are still around. You just need a flexible seller and with the banks not lending traditional money. This has become a very popular option for entrepreneurs looking to buy a business. PRC...

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STAYING POSITIVE


Posted By on Feb 9, 2010

You may have heard the phrase “the glass is half full” or “the glass is half empty.” And probably, when we heard it first, we sat and stared for a moment and really thought about it. And possibly, and actually hopefully, it made us become more optimistic. Because good things typically happen to optimists, and I’ve never met a really successful entrepreneur who’s a pessimist. But I learned lately that even a lot of us optimists, actually act pessimistic a lot. Typically this happens when we are posing questions. For example, we may ask, “why don’t our prospects listen to us when we talk about the benefits of our products?” Or “How come some of my employees never seem to put in that extra effort?” Or “Why cant any investor see the value in my venture” These questions are very negative. And because of that, they rarely lead to positive solutions. So, let’s turn these questions around. How about asking, “How could I communicate better to get our prospects to really listen to the benefits of our products?” Or “What could I do to inspire and motivate my employees to work harder?” Or “What can I learn from an investors feedback that is not interested in my venture?” Framing your questions in a more positive light will help you solve them. It will ignite your positive creative energy, and that’s when the entrepreneurial magic happens. So, start turning around your questions and looking for positive solutions to the challenges you are your business are facing. The solutions are there. You just need to make sure you are asking the right questions in order to find them. To Your Success, PRC...

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MEETING WITH VC’S


Posted By on Oct 16, 2009

It’s not uncommon for entrepreneurs to want to meet with VCs in a destination geography when they’re in town for business meetings or conferences. It makes sense to get more out of a business trip. While this is generally a smart strategy, trying to schedule your VC meetings at the last minute will likely lead to missed opportunities. It’s important to understand that sending an investor an email stating that your team will be in town in a few days and would like to meet is not a practical strategy. There are two key reasons for this. First, VCs generally keep a busy schedule and might be booked a few weeks out. Second, VCs will often want to screen your business plan or have an initial phone conversation prior to agreeing to meet with your team. This additional step in the process may add days or even weeks to the process depending on how busy they are. Inevitably there are times when the business trip is planned at the last minute. There may be little that you can do to contact investors early. If you do know you are going to be making a business trip and want to meet with investors, however, engage them as soon as...

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