10 CT Entrepreneurs Share Tips and Advice

Wisdom and Advice from Connecticut Entrepreneurs
Connecticut entrepreneurs share about their entrepreneurial experiences—successes, failures, and lessons learned. Your entrepreneurial experience inspires and encourages others. Share your story with us.

Entrepreneurial Insights Posts

10 CT Entrepreneurs Share Tips and Advice

December 20 2018 Innovation Destination: Hartford Entrepreneurial Insights 0 comments Tags: business advice, Connecticut, CT, entrepreneurs, entrepreneurship, Greater Hartford, startups

Throughout 2018, Innovation Destination Hartford continued to meet with dozens of entrepreneurs from all types of industries and all stages of growth. Here’s some entrepreneurial insight from 10:

HAVE A PLAN IN PLACE

If you have an idea, make sure you have a good plan in place. It’s more than just starting up. It’s about creating a business plan for this year—then updating it for the next year, then the following. Longevity is the goal.
– Jim Giuliano, Founder Construction Solutions Group.

READ: Connecticut Entrepreneur Founds Owner’s Representation Firm
VISIT: csgroup-llc.com

LEARN HOW TO FIND INFORMATION

Lacey Banks McGill (standing) is a Business Advisor at the University of Hartford Entrepreneurial Center. (Shana Sureck Photography)

“If your business is growing, moving up market, or expanding, you’re going to be on a learning curve. You shouldn’t feel inadequate because you don’t know something. You’re always going to not know something. One of the best skills you can learn early on is how to find information—it’s not so important to already know everything.”
— Lacey Banks McGill, Business Advisor at the University of Hartford Entrepreneurial Center

READ: Business Advisory Services from the University of Hartford Entrepreneurial Center
VISIT: www.hartford.edu/ec
FOLLOW: Facebook | Twitter

FIND THE RIGHT MENTORS

“Mentors help you when you’re successful—and when you’re not….Finding the right people to talk to is a shortcut to success.”
– Shana Schlossberg, Founder & CEO Upward Hartford

READ: Upward Hartford CEO Encourages Women Entrepreneurs
VISIT: www.upwardhartford.com
FOLLOW: Facebook | Instagram | LinkedIn | Twitter

KNOW YOUR NUMBERS

“My advice to business owners who are just starting out or those who have been around for a while is to intimately know your numbers—your operating expenses, cost of goods sold, revenue coming in, etc. You cannot make any well-informed decision unless you truly know your numbers. And be real and honest about those numbers—the only person you’re hurting is yourself, if you are honest. It’s not always a pleasant exercise, but it’ll make you a better business owner in the long run.”
– Jenn Grace, Founder Publish Your Purpose Press

READ: Connecticut Entrepreneur Founds Social Impact Publishing Company
VISIT: publishyourpurposepress.com
FOLLOW: Facebook | LinkedIn | Twitter
WATCH: Thought leaders successfully transition to published authors with Publish Your Purpose Press

ONLY MARKET TO YOUR IDEAL CLIENT

“While it may be technically true that anyone with money could buy your product or service, from a marketing standpoint, you simply can’t market to ‘everyone’….Understand what makes your clients tick, how they make decisions, why they do what they do, and why they buy what they buy.”
– Mike Keiser, Co-Founder, The Entrepreneur Circle

READ: Improve Your Marketing by Identifying Your Ideal Client
VISIT: mentalcompass.com
FOLLOW: Facebook | LinkedIn | Twitter

MAKE PEOPLE HAPPY

“Word of mouth is your best marketing tool. If people are happy and they know they can trust you, they will hire you.”
– Diana Lamenzo, Director Tutoring You to Excellence, LLC

READ: Connecticut Entrepreneur Founds Tutoring Startup
VISIT: www.tutoringtoexcellence.com
FOLLOW: Facebook | LinkedIn

FOCUS ON THE PROCESS

“Belief and passion are good, but then you need to figure out: How do I establish proprietary positions? How do I establish control over the manufacturing, formulation, and ownership structure so that when we make a product, we get paid? How do we create value for investors? How do we build a business? And that requires a real focus on the process.”
– Richard Andrews CEO Azitra Inc.

READ: Serial Entrepreneur Helps Build Scientific Startups
VISIT: azitrainc.com
FOLLOW: LinkedIn | Twitter

BE READY

“Make sure that you’re ready and then don’t quit and keep going no matter how tough it gets. That’s something that people have said to me….If you really believe in your product, what you offer is going to come from love not fear.”
– Sarah Barr, Founder Washashore Writing

READ: Woman-Owned, Hartford-Based Startup Communications Company
VISIT: www.washashorewriting.com
FOLLOW: LinkedIn

FIGURE OUT WHAT DRIVES YOU

“Many times, when you see a new concept or business idea, you wonder: Why didn’t I think of that? But, you have to change your mentality. Instead of wondering, why you didn’t think of something first, you have to be ahead of the curve. You have to try to understand what the next thing is that will really drive you internally day in and day out. Because you can’t invest in something you don’t believe in.”
– Chirayu Shah, Co-Owner The Coder School

READ: The Coder School Opens in Farmington, CT
VISIT: www.thecoderschool.com/farmington
FOLLOW: Facebook | Instagram | Twitter

DON’T GET TOO MUCH ADVICE

Too much advice will drive you insane and you can make bad decisions. Get a mentor, build your board of directors with people you trust, and look up to those who are successful and loyal—people who want to see you grow and succeed.
– Brenda Mierzejewski, Founder Mizzi Cosmetics

READ: Connecticut Entrepreneur Shares Updates and Hiring Tips
VISIT: mizzicosmetics.com
FOLLOW: Facebook| Instagram | Twitter

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CT Entrepreneur Shares Updates About Successful IT Company

November 14 2018 Innovation Destination: Hartford Entrepreneurial Insights, Tech, Where Are They Now? 0 comments Tags: entrepreneur, entrepreneurship, Greater Hartford, small business owner, small business success, West Hartford

Where Are They Now? Follow Up with Avi Smith-Rapaport, Owner We Care Computers

Innovation Destination Hartford met with We Care Computers Owner Avi Smith-Rapaport in July 2017. (Read the interview: West Hartford Entrepreneur Runs Successful Computer IT Company).

We Care Computers Owner Avi Smith-Rapaport (right) supports many local non-profits, including Brackets for Good.

The West Hartford-based small business specializes in providing managed services and networking, troubleshooting and repairs for clients throughout Connecticut and western Massachusetts.

Avi is a thoughtful entrepreneur who priorities being a part of the community and giving back. He and his son are currently planning their third annual service trip to the Dominican Republic with Watkinson School and University High School of Science and Engineering.

IDH Website Curator Nan Price caught up with Avi, who shared about what’s kept his company successful for more than a decade and why it’s always important to keep things simple.

NAN PRICE: You’ve been operating We Care Computers since 2004. What's the biggest lesson you've learned on your entrepreneurial journey?

AVI SMITH-RAPAPORT: I’ve learned to just listen when I’m around successful people.

NAN: With 14 years of entrepreneurial experience, anything you wish you'd done differently?

AVI: I probably would have sought out more mentors, even though I was really lucky to have those who appeared in my life.

NAN: When you first started the company, it was just you. You now have 10 employees. Tell us about the transition from becoming a solopreneur to having a team.

AVI: When it was just me, I obviously had to wear a lot of hats. I was building the company, which meant doing everything from answering the phone to on-site IT help. Early on, I knew I needed to bring in help—and I’m glad I did. Now I can focus on business development and meeting people.

NAN: Speaking of meeting people, when we last met, we talked about the importance of networking.

AVI: Right. And we actually met at a networking event! I think it’s important to network because it helps you identify who can connect you to those who may need your skills.

NAN: What’s the secret to your company’s success?

AVI: We don’t let things fall through the cracks. We’re detailed oriented and we always follow up. We have a follow-up system with set procedures. And we listen to our clients—we really hear them, so we can best meet their needs. Those are key points that lead to word-of-mouth referrals.

NAN: What would you tell someone who is just starting their business?

AVI: Always follow up and communicate clearly.

NAN: When we last talked in 2016, your advice was simply to listen and learn from others’ experiences. Any additional advice?

AVI: When in doubt, be kind.

Find out more about We Care Computers

VISIT: wecarecomputers.com
FOLLOW: Facebook | LinkedIn | Twitter

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Connecticut Mentor Encourages Entrepreneurship

November 01 2018 Innovation Destination: Hartford Entrepreneurial Insights, Mentors 0 comments Tags: Connecticut, CT, District New Haven, entrepreneurs, entrepreneurship, innovation, Law Lab, mentorship, Murtha Cullina, New Haven, The District

Connecticut mentor Dave Menard is passionate about fostering entrepreneurship. He has years of experience working with entrepreneurs from many industries. Dave is a partner at the law firm of Murtha Cullina and one of the hosts of the CTStartup Podcast.

Murtha Cullina’s Innovation Team won a 2017 CT Entrepreneur Award for the community favorite “Corporate/Institutional” category. Dave Menard. center.

Innovation Destination Hartford Website Curator Nan Price met with Dave in October 2015, soon after the CTStartup Podcast had launched. (Read: Community Support for Connecticut Entrepreneurs.) She recently caught up with Dave to see what’s new.

CTSTARTUP PODCAST

The CTStartup Podcast is currently in Season 4 and records every other Friday morning at District New Haven, where Murtha Cullina has a satellite office. IDH Website Curator Nan Price was recently a guest on the podcast; the episode should air in early December.

The CTStartup Podcast crew has evolved over time. Two people left and two have joined the podcast which, Dave points out, offers different affiliations and perspectives. “We knew we needed to professionalize the podcast more, so we brought on an official paid intern to produce the show.”

The podcast is getting good reception with about 1,000 downloads a month and many listeners tuning in from outside the state. “It’s great to make other states aware of the entrepreneurial and startup activity happening throughout Connecticut,” notes Dave.

Like IDH, Dave confirms there is never a shortage of content. “We have a bunch of podcasts in the bank,” he says.

Entrepreneurism has become a big topic―larger than it ever was―it used to be a fallback career, now it’s a major. There’s been a huge shift,” Dave underscores.

As far as content, some podcasts feature the hosts sharing their experiences and some are recorded at live events. Many feature interviews with guests.

“There are always Connecticut companies to feature. I don’t think people realize how many companies are built here, trying to start here, or looking for support,” says Dave.

As far as growth, “the podcast has a good following, but we feel it could go up a level,” he admits. “We give it so much time, we want it to succeed. Our goal is to reach 2,500 to 5,000 listeners a month. We’re exploring ways to do that with ideas about sponsorship.”

HOW IS MURTHA CULLINA HELPING ENTREPRENEURS?

Murtha Cullina has several initiatives in place to help foster entrepreneurship in Connecticut.

The Murtha Cullina Emerging Companies Practice Group started as just Dave in 2011. It really took hold in 2013, after he became partner.

“The goal is to build entrepreneurial communities, and then we mentor and provide support for those communities. By helping people succeed, the communities become bigger and stronger,” he says.

The Murtha Cullina Emerging Companies Practice Group, which is connected to the larger firm, now includes 13 attorneys who focus on business, intellectual property (IP), employment, and immigration law.

“Seeing the group grow has been an exciting transformation,” says Dave. “People are enthusiastic about the work they’re doing, which is reaffirming.”

Murtha Cullina has also gained an entire Intellectual Property Practice Group, which has five full-time patent attorneys. “We’re helping companies file patents and get their feet wet,” Dave explains.

The firm encourages collaboration with other entrepreneurial resources. “The law only encompasses a portion of what entrepreneurs need,” he acknowledges. “Entrepreneurs need the most amount of advice when they’re least able to afford it, and sometimes they just want to know someone who knows someone. Part of our job as mentors is to try and connect people with best contact for need they have.”

To that end, Dave works closely with reSET, The Connecticut Small Business Development Center (CT SBDC), CTNext, Crossroads Venture Group, and local accountants and insurance providers.

In other news, Murtha Cullina opened a satellite office at District New Haven.

“We call it The Law Lab. It’s designed differently than a law firm—90% of the space is collaboration work space,” describes Dave. “The whole point was to try doing something different. The space is staffed full-time, so people can stop by, talk to a lawyer, get instant feedback, and work out of the space,” he adds. “We want to make it as interactive and community-based as possible.”

Now through June, the Law Lab offers a monthly business lunch series covering a variety of topics including website privacy policies, intellectual property law, and equity financing.

WORKING WITH THE ENTREPRENEUR COMMUNITY

Dave is very immersed in Connecticut’s entrepreneurial and startup community. And he’s very community-focused. “The best thing we can do for ourselves, both business-wise and personal health-wise, is to build a community,” he emphasizes.

Dave is on the board of directors at reSET. “I’ve really enjoyed working with them and met many interesting companies, such as Noteworthy Chocolates.”

He notes that innovation and entrepreneurship are arising from many fields—some unexpected.

As another example, Dave shares that he’s recently met three companies in the firefighting space. “That’s an area you don’t think of as innovative,” he acknowledges. “But they’re all taking different approaches, which shows innovation is being implemented in all different industries.”

Dave has also worked with startups coming out of University of Connecticut School of Nursing, including Brittany Molkenthin, who founded Lactation Innovations. “She isn’t someone you’d see as a typical entrepreneur,” Dave clarifies. “It verifies that entrepreneurship comes from all areas at UConn—not just the engineering and the high-tech areas.”

Dave’s advice for those starting out?

“No person is an island. Find and build a network of people you trust. Getting advice, referrals, and mentorship are invaluable in a company’s development,” he advises.

“As a corporate attorney working with entrepreneurs I feel good about what I’m contributing to the society. I like being able to say I’ve helped. The question is: How can I take what I’m good at doing and focus it into a better space—that’s always been the goal for me,” he adds.

“I’m really excited about the entrepreneurial environment in Connecticut right now,” emphasizes Dave. “There’s more going on than I can possibly keep in touch with. Every week I hear about something new. I cannot encompass all the entrepreneurs in Connecticut.”

Learn more about Murtha Cullina LLP

VISIT: www.murthalaw.com
FOLLOW: Facebook |LinkedIn | Twitter

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Business Leaders Talk Personal Branding

October 15 2018 Innovation Destination: Hartford Entrepreneurial Insights 0 comments Tags: brand development, branding Connecticut, CT, how to brand a business, personal branding

Attendees at a recent lunch panel “Personal Branding to Grow your Career and Business,” gained invaluable insight from a candid discussion among renowned business leaders and experts.

Hosted by Keating Agency Insurance, the panel took place Wednesday, October 10 at The Hartford Club. Proceeds from the event will benefit the American Cancer Society Real Men Wear Pink Campaign.

“Personal Branding to Grow your Career and Business” panelists (left to right) David Salinas, Kaplan Mobray, Brent Robertson, and Kathy Nanowski.

Panelists included:

Kaplan Mobray – Internationally recognized inspirational business speaker and award-winning author of The 10Ks of Personal Branding.
Brent Robertson — A partner at West Hartford, CT-based Fathom, a strategy and creative team that works with business leaders.
Kathy Nanowski – Vice President & Director of Marketing & Business Development with Fuss & O’Neill.
David Salinas — Serial entrepreneur and the founder and visionary behind District, a New Haven, CT-based technology and innovation ecosystem.
Moderator: Hartford Pastor AJ Johnson

What does personal branding mean to industry leaders? Why is it important to have a brand?

“It’s good to have a strong brand,” said Kathy Nanowski. “Your brand is your body of work,” she explained.

Your personal brand is also related to your company, Kathy added. When you own your own company, you own your own brand. When you have others working for you, your brand is everyone in the company. There are pros and cons, of course.

Kathy also highlighted the importance of owning your brand.

David Salinas agreed, “People relate to authenticity. Be you,” he said. “Fear causes lack of success,” David added. “Be brave. Take risks.”

Kaplan Mobray touched on the concept of having a brand at home versus brand at work. “The more consistent, the better,” he noted. “We often feel we have to change—don’t make your brands compete.”

Along those lines, Brent Robertson added, “A lot of what we need is sitting inside of us.”

Brent got the audience thinking about answer to the questions: What is your brand promise? What are you uniquely able to deliver? “Spend time listening,” he advised. “It’s not about saying, it’s about demonstrating.”

AUTHENTICITY AND CONFIDENCE

Authenticity and confidence were an ongoing theme among the panelists.

According to Kaplan, the more authentic you are to your brand, the more confidence you build. He also noted the value in being authentic in what you do and owning your existence. “Dare to be different—and consistent,” he encouraged.

Kathy reinforced the importance of being confident in what you do. “Don’t change who you are,” she said. “But, don’t be just anything—we won’t know what to brand you as.”

CREATING EXPERIENCES

Experience was also emphasized throughout the discussion. How do others experience us? And how can we create experiences?

“We only exist externally through those who have experiences with us,” explained Brent.

“Experience builds relationships, relationships build brands,” underscored David.

Kathy added: You can’t improve what you can’t measure.

The panelists also noted the role the outside environment—and social media in particular—plays in building your brand.

According to David, it starts with understanding your identity—and understanding that social media plays up three things: health, wealth, and happiness. “People think personal branding happens this way,” he said. “But that’s not how the world works.”

Kaplan echoed that sentiment, saying, “Don’t choose someone else’s story.” He also discussed the significance of having a social media presence. “If you’re not findable, you’re not relevant,” he cautioned.

In terms of social media, Kaplan also emphasized that maintaining consistent momentum builds brands.

However, he noted, you should “run your brand as a news cycle—don’t just move for the sake of moving.”

BUILDING CONNECTICUT’S BRAND

Panelists were asked about how to build and improve Connecticut’s brand—and how to get the message out.

David pointed out that there is a “siloed” sense of pride throughout Connecticut. “We’re too small to be siloed,” he maintained. “Pride starts with us getting passionate. We have to continue to remind people what’s good about Connecticut.”

Brent agreed. “We’re creating what’s missing. Connecticut needs to be a hub where talent is created and available,” he said.

Most importantly, he added, “We need to gush—we need to share about the successes.”

Kudos to Ryan Keating for organizing a well-received event! Stay tuned for upcoming panel discussions.

Looking to get to know people face-to-face?

Keating Agency Insurance will host LinkedIn Local Greater Hartford 3
Innovation Destination Hartford Website Curator Nan Price shares her experience about attending a LinkedIn Local event

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CT Entrepreneur Provides Tips for How to Start a Business

October 03 2018 Innovation Destination: Hartford Entrepreneurial Insights 0 comments Tags: Connecticut business resources, entrepreneur, how to start a business, how to start a business CT, starting a business, starting a business CT

Ready to launch your business? Not sure where to begin? Connecticut inventor, entrepreneur, and angel investor Eric Knight provides a step-by-step guide.

Eric Knight received the Community Favorite Entrepreneur: Scalable Venture award at the 2018 CT Entrepreneur Awards.

Most ambitious entrepreneurs know the reality: Nine out of 10 startups fail. To increase odds of success, some fundamental steps must be done.

“Anyone can start a business,” says Eric. “My goal is to coach you to the highest likelihood of success.”

Eric has years of experience working with hundreds of startups—many of which don’t know where to begin. Innovation Destination Hartford asked him for some tips.

STEP 1: READ AND STRATEGIZE

Every entrepreneur needs to read The Lean Startup. “If you’re not willing to read this book, you shouldn’t be an entrepreneur,” emphasizes Eric. The book lays out key processes and strategies. You’ll learn that everything is customer-centric—and you’ll realize the importance of having the customer be actively engaged in the development of your product or service.

Eric also tells the entrepreneurs he advises to utilize a Business Model Canvas as opposed to business plan. “People get bogged down in the details they think belong in a business plan,” he notes. “With the Business Model Canvas, it’s one sheet of paper and nine boxes. Google it. It couldn’t be easier.”

Universal homework: Read The Lean Startup and complete a Business Model Canvas.

STEP 2: KNOW YOUR MARKET

As an aspiring entrepreneur, you really need to look at your market.

“For some reason, a lot of people skip this step. Everyone wants to start by building a website and getting a logo,” notes Eric. “But you can’t build a house before you have the blueprint. The key is to future-proof your business by building it right.”

Market research is critical. Find out if what you’re doing or hasn’t been done before.

“Make sure the market truly desires your product or service—and, more importantly, make sure they are willing to open their wallets and buy it,” Eric says. “Everyone may want what you’re offering, but will they pay for it? This question is fundamentally lacking,” he underscores.

“It’s important to bridge the gap—you need to make sure you have a product or service people want and will pay for. And then you need to make sure there is a large and sustainable margin so your business will thrive,” Eric explains.

STEP 3: CREATE A BRAND NAME

We live in a brand-centric society. It’s essential to know if your brand will resonate with people. The key to finding out? Brand brainstorming sessions.

Eric recommends brainstorming with people who understand your product or service. His plan of action involves pizza, beverages, and Post-its. He advises that you discuss the top three benefits of your product or service then ask everyone to spend an hour using the Post-its to free associate and jot down company names.

“Let everyone know no idea is a bad idea,” says Eric. “The goal is to fill the walls of the room with as many ideas as you can. In an hour, aim to have 1,000 names.”

His next step is to check off the group’s top 50 names and then check domain name availability. The requirements:

The URL must end with .com (not .org, .net, etc.)
Must be spelled how it sounds
No hyphen can be used in the spelling

Next, whittle down your list to 10 to 15 potential dot-com-available names and then talk to your target market to see what they like. You’ve established a potential brand and you can use the market to test it.

“One of the most important steps at this stage is having a lean philosophy of building a business,” says Eric. “Remember, the overall theme is to reduce the odds of your business failing.”

STEP 4: MAKE IT VIRTUALLY

If you’re creating a product, you may need to build a prototype or a sample people can experience. For example, if you’re building an app, make screenshots and display the app’s flow in a PowerPoint. If you’re creating a product, have a 3D rendering done.

“The key is to not to spend, but to validate and iterate what you’re doing,” emphasizes Eric. “Don’t spend money until you validate. Then use Lean Startup strategies to show your product to your target audience and get feedback.”

Again, the goal is to future-proof with no cost and the least amount of risk. When you’re starting out, you need to stay lean and no-cost for as long as possible. At this point, you’re using tools to test your product or service with your target market and refine it based on their feedback.

STEP 5: MAKE IT REAL

Once you’ve created and tested your prototype, the next steps include forming a company, creating a sample website, ad testing, and performing trials and demos of your product. You need to make it real.

Even if you’re a one-person enterprise (solopreneur), there are very real and important reasons to incorporate—particularly to help separate your business activities from your personal assets. The methods and strategies for doing such are beyond the scope of this article.

Seek a business attorney who specializes in the unique needs of startups. Start at one of the many business startup support organizations around Connecticut.

Some great resources include:

In addition, the MetroHartford Alliance provides a comprehensive Directory of Connecticut Accelerators, Incubators, and Co-Working Spaces.

Once you’ve done some research, you can take some steps toward developing your product or service.

If you’re providing a service, it can be tested easily with pop-ups. “You don’t have to sign a lease,” Eric explains. “For instance, if you’re thinking about opening a new pizza place, find somewhere that would love to sell your product but doesn’t have the facility. Then, you can test your pizza and split the revenue. The same concept goes for a car wash. Align yourself with someone who already has the space and you can test your business concept.”

If you’re creating a product, you will need to find a company to make your product in low-volume/small-scale production. You may need a software developer or, if you’re creating a physical product, you may need to collaborate with a manufacturer. Take advantage of the many 3D printing/additive manufacturing resources available here in Connecticut.

Useful resources include:

ACT 3D Equipment & Services — learn more in our feature story: Connecticut 3D Printing Supplier Talks Innovation, Technology & Collaboration
Connecticut Center for Advanced Technology (CCAT) Advanced Manufacturing Center
Stanley Black & Decker Advanced Manufacturing Center
Stanley+Techstars Additive Manufacturing Accelerator — Learn more about applying to the accelerator

A simple online search for “Connecticut additive manufacturing” or “Connecticut 3D printing” will bring up dozens of resources with manufacturing capabilities in plastic, metal, ceramic, and advanced materials. Many of these Connecticut resources will provide low-cost prototyping and small-run production.

At this point, you’re staying nimble. You’re still iterating, but you still haven’t spent much money.

Bear in mind that it may cost more to create low volumes of your product; however, you’re better off not making as much now—ensuring you don’t have inventory you can’t sell. The goal at this stage is breaking even.

STEP 6: SCALE

Once you know people are buying your product or service, you can scale to bring costs down. That will enable you to increase your margin.

Many manufacturers and software developers in Connecticut will be more than happy to help you scale your product offering.

The Connecticut Technology Council (CTC) is a great resource for discovering top-notch Connecticut manufacturers. This statewide trade association provides wide-ranging resources that assist Connecticut manufacturers in their business missions.

And of particular note for startups, the CTC helps companies find and connect with expert manufacturers, software developers, funding sources, and a variety of other professional development services. To streamline the connection process, the CTC provides a Member Directory Search tool.

The Connecticut Center for Advanced Technology (CCAT) is another useful resource. Headquartered in East Hartford, CT, the nonprofit organization creates and implements innovative ideas for applied technologies, energy solutions, STEM education, career development and export and cyber compliance. CCAT also has an Advanced Manufacturing Center with state-of-the-art equipment. The team provides customized manufacturing solutions including prove-out prior to transitioning to production and on-site implementation support.

For service businesses, apply contemporary marketing techniques—particularly targeted online marketing—to rapidly ramp up your clientele. Search online for “Connecticut digital marketing agencies” for an excellent selection of firms—both large and small—that can help your business grow.

STEP 7: CONTINUOUS ITERATION

“Don’t rest on your laurels—even if you’re making money and growing,” warns Eric. “Smart companies are always listening. Be attuned to your market; it will give you ideas for new products and services to grow your business. The key is to listen.”

Paying attention to your market’s needs and continuously iterating will help you create ideas for new, profitable products and/or services. Continue to use the Lean Startup methodology to iterate and grow. Once you have a proven formula that works, keep at it. As Eric says, “Lather. Rinse. And repeat.”

About Eric Knight
Eric is President of Remarkable Technologies, Inc., a company he founded 24 years ago. Through the support of CTNext, he also serves as a mentor for many companies throughout the Greater Hartford region. Learn more about Eric and book an appointment with him.

About CTNext
CTNext, a subsidiary of Connecticut Innovations, is a Connecticut-based resource for entrepreneurial support. The goal of the program is to build a more robust community of entrepreneurs and to accelerate startup growth by providing access to talent, space, industry expertise, services, skill development, and capital to foster innovation and create jobs for people in Connecticut. CTNext launched in 2012 and has more than 1,500 members in its network.

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Making Yourself Known as a Startup

September 13 2018 Innovation Destination: Hartford Entrepreneurial Insights 0 comments Tags: Connecticut, CT, CT startup, entrepreneur, startup, startup tips, tips for startups

Checkmate was honored as "Murphy's Innovator of the Month" in August 2017. Founder Tom Nassr (right) accepted the award from Senator Chris Murphy.

How are you making yourself known? When you are starting out as an entrepreneur, sharing your name and idea with the world can be a good thing. There are advantages to marketing yourself, but there are some disadvantages as well. If you need help figuring out if making yourself known is a good idea for you, here are some of the things I’ve learned from building a startup.

Why Should You Make Yourself Known?

Telling people about your ideas does more than simply get your name out there. As you talk with others and introduce yourself, you will have the opportunity to make connections. Maybe the person you just met will know someone you should pitch your idea to next. They might know a network of people who could offer you advice and support or they could become your mentor or partner. If your venture doesn’t work out, you will still have accumulated relationships and established trust that can carry on to your next venture, even after a failure.

An early venture of mine was an app where users could post temporary tags on a shared map to discuss what was going on in their area. Before I even had a product, I openly shared my thoughts with a favorite professor of mine. The app I wanted to make had attributes, but a weak use case or purpose at the time. My philosophy professor realized the alignment my idea had with resources for refugees. Refugees were always spread out and could move or disappear at a moment’s notice, so we started thinking about how Kricket could be used to give refugees useful, real-time information.

Through my discussions with my professor, I was connected with the Nobel Summit for Peace Laureates. Although my product was not finished or ready to be used, my sharing it led to many more doors being opened for me in the humanitarian space and I made a lot of great connections with people I’m still in touch with today. None of this would have happened if I had kept my startup to myself until I felt it was the “right time” to share it with the world.

When Should You Make Yourself Known?

Although it would be nice to know the “right time” to start putting yourself out there, the reality is that there is no right time. Everyone wants to do things when they feel ready, but we are always thinking of what is happening in the future. It’s a lot like skydiving. You get up in the plane, you think about the drop, you become afraid and you don’t want to jump anymore. You forget that you have a parachute until the instructor jumps out with you and pulls the cord or you want to pull it before you’ve even jumped.

Although there is no right time (or even a wrong time) to start making yourself known, the best time is when you are just as ready to see your idea fail as you are to see it succeed. If you are too early, you risk appearing as if you are not committed to the idea. If you are too late, then you’ll likely have wasted time and missed valuable customer feedback. The “Goldilocks Zone” is when you have a sense of momentum in your endeavors. Even though failure is an option, the desire to try and the action to go through with your idea is further than most people go.

Advantages and Disadvantages

Aside from building up a network, there’s the opportunity to go to conferences or events related to your venture. You could find like-minded people who are just as passionate about your idea as you are or, most importantly, learn things that you didn’t know that you didn’t know.

That said, it may still be tempting to operate as a stealth startup, especially if you’re concerned that someone you share it with will steal it. However, the positives of getting your idea out there likely outweigh the risks. Aaron Patzer, founder of Mint and other ventures, promotes the idea of being as open as possible with your business. “Tell anyone and everyone your idea without fear they’re going to steal it,” Patzer said at a 2010 Future of Web Apps conference in Miami, pointing out that the chance of someone stealing your idea is very small while the benefits of receiving a lot of feedback early on are invaluable. This early feedback will let you address your market’s pain points before you start building your product, and you will be able to refine it to be more in line with your market’s needs as you build.

If you are still afraid of someone trying to take your idea for themselves, explore some provisional patents or use NDAs, or better yet, mutual NDAs. Doing so will give you some peace of mind while also giving you the freedom to discuss your idea with people who can help.

Getting your name out there is one way to build a startup, but it is not the only way. If you think it is a good idea for you, go to events, accelerators, maker spaces, etc., and introduce yourself to others. Start making connections, because you never know the potential of the person sitting next to you on a train, plane or at an event. The people who you meet will be the ones helping you along, and they will be the ones to decide if your idea is good enough to thrive. Yet it is on you, and only you, to take that first step out of the plane.

About the Author
Tom Nassr is CEO at Connecticut-based Checkmate Digital, which architects, designs, and engineers custom software products with startups. He is a member of the Young Entrepreneur Council (YEC), an invitation-only, fee-based organization comprised of entrepreneurs aged 40 and younger. YEC members represent nearly every industry, generate billions of dollars in revenue each year, and have created tens of thousands of jobs. In partnership with Citi, the YEC recently launched BusinessCollective, a free virtual mentorship program.

Interested in learning more about Tom and his entrepreneurial endeavors?

Read our interview: Connecticut Startup Helps Future Startups

Get more entrepreneurial tips from Tom in his Innovation Destination Hartford blog: Successfully Failing: What I Learned from Failing My First Startup

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CT Entrepreneur Releases New Book for Business Owners

September 07 2018 Innovation Destination: Hartford Entrepreneurial Insights 0 comments Tags: business development, business growth, entrepreneur, entrepreneurship, startup

Anthony Price is Founder and CEO of LootScout and author of a new book, "Get the Loot and Run: Find Money for Your Business."

Connecticut entrepreneur Anthony Price, Founder and CEO of LootScout, has released a new book, Get the Loot and Run: Find Money for Your Business.

The book is written for every type of business owner—from those who are launching a startup to those who are operating billion-dollar businesses.

Get the Loot and Run can help business owners find capital from little-known grants, low-interest loans, government funding, and one-of-kind bank programs. Author Anthony Price has started several businesses on a modest budget and helped raised millions of dollars for businesses. In Get the Loot and Run, he shares his experience on the front lines of advising companies.

Read an excerpt from Chapter 1.

WHAT ARE YOU: ENTREPRENEUR OR SMALL-BUSINESS OWNER?

My universe was shaken to its foundation, like a building crumbling to the ground under the force of a 9.0 earthquake, after reading Ben Lamm’s guest column in Entrepreneur magazine: “Stop Calling Everyone an Entrepreneur—They Aren’t.”

I thought this was typical Silicon Valley propaganda, from a hotshot in a hoodie and jeans. But after my less-skeptical self emerged, I began to think there was merit to what Ben was espousing. Ben, the founder of several companies and CEO of a startup, believes that the “entrepreneur” label has become as ubiquitous as Nikes on NBA-wannabes. He says that a lot more people are qualiﬁed to manage a “Jamba Juice than take companies from inception, through market traction (paying customers), funding, growth and eventual IPO or exit.”

I full-heartedly agree. Ben comes from a world where solving big “hair-on-fire” problems and scaling a business as fast as possible are crucial to owning a market and attracting OPM: Other People’s Money. This business template requires a steady stream of capital to be pumped into the business as fuel, which most businesses don’t have. The money that your small business burns through is yours, or if you are lucky, your family’s, friend’s or the bank’s. In reality, a startup business has a limited amount of time to build a business with paying customers, or it will fail. Think of Chobani yogurt in your refrigerator—it’s expiration date is a constant reminder that it will not last forever.

The pressure comes from investors. When you play with OPM, investors are the house, they make the rules, and they want to make lots of money (10, 20, or 30x return or more) from a liquidity event (an exit from your business within ﬁve to seven years as a result of selling or going public). In Ben’s view, the mission is the domination of an industry from the playbooks of Facebook, Google and Amazon.

ENTREPRENEURS TAKE BIG RISKS

Entrepreneurs view problems from a unique perspective. George Bernard Shaw, the playwright, said, “The reasonable man adapts himself to the world: the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.” Entrepreneurs are the unreasonable men (and women), risk-takers, but not gamblers. To them, gambling is working at a job they don’t like, with no future for advancement, for a boss who doesn’t value them. Entrepreneurs are confident in their abilities to solve big problems, assemble a team and scale. They are a special group of people who believe in their vision, talent, version of reality and work ethic.

Blaze Pizza, a restaurant concept started five years ago with two stores in Southern California, plans to open 100 to 150 stores a year, starting in 2018. Blaze creates made-to-order pizzas in an assembly-line style, similar to Chipotle or Subway, and cooks pizzas in three minutes. Its cooking innovation is the “secret sauce” that opened the lunch-crowd market to pizza. Blaze makes its own dough, fresh, and from scratch. The company has attracted a lot of attention on its social media channels. LeBron James, the perennial NBA all-star, is a spokesperson and early investor in the company, choosing an equity deal over a multimillion-dollar deal from McDonald’s.

The biggest differentiator between an entrepreneur and a small-business owner is that the former wants to solve big problems, grow quickly and takes huge risks. Think Facebook, Google, and Tesla. Facebook has over two billion monthly users, and its mission is: “Give people the power to build community and bring the world closer together.” Google is the most visited website on the Internet. Its mission is: “To organize the world’s information and make it universally accessible and useful.”6 Founded in 2003, Tesla Motor’s mission is: “To accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible.”

SMALL AND POWERFUL

A business consists of coordinated activities that deliver value to customers with the intent of generating a proﬁt to its owners. There are twenty-nine million small businesses in the U.S., which represent 99.9 percent of all businesses. The U.S. Small Business Administration (SBA) defines a small business as having fewer than 500 employees; organized for profit; has a place of business in the U.S.; operates primarily in the U.S.; is independently owned and operated, and is not dominant in its ﬁeld on a national basis.

Michael Gerber, the author of The E-Myth states, “There is a myth in this country—I call it the E-Myth—which says that small businesses are started by entrepreneurs risking capital to make a profit. This is simply not so.” Most small business owners make the misguided assumption that because they know the technical work of the business, they understand the business that does the technical work. These are two different things, just as being a home baker doesn’t make one competent to run a neighborhood bakery or a corporate chain of bakeries.

Small business owner does not equal entrepreneur. Gene Marks, a Forbes.com contributor and proud small business owner, said it best in his piece, “The Difference Between an Entrepreneur and a Small Business Owner”: “Entrepreneurs take risks.” Gene goes on to say that they take much bigger risks than business owners do. Marks’ dad was an entrepreneur in the mid-nineties who dreamed of delivering his proprietary bookkeeping software to the world. At the time, Gene and his dad were both certiﬁed public accountants (CPAs), who took on Intuit’s QuickBooks and the Year 2000 bug. Unfortunately, they lost.

Gene is not afraid to say he is a small-business owner. He likes stability and is satisfied with knowing what the future holds. Gene says that in contrast, entrepreneurs are never satisﬁed with the status quo. The typical pizza store owner is content making a good living with one store.

Compare Ben Lamm’s vision of a startup business on steroids with how most small businesses start. Look at your favorite small business. For example, the guy (Jim) who owns the automobile repair garage down the street probably started because he either worked in the family business or got tired of working for someone else. Jim doesn’t have a grand vision to be as ubiquitous as Pep Boys. Sure, he wants to make money, but the love of his craft, freedom from a boss, quality of life, and a sense that he can shape his destiny are all reasons that usually motivate someone to start or buy a business.

JUST DO IT

Customers determine winners in business. But a decisive factor for your future success comes down to how you answer this question: Will you be an entrepreneur or a small-business owner? Entrepreneurs take big risks to create something new, while small-business owners provide goods and services that the market needs right now. Each has its own value.

Life as a small-business owner is appealing. There’s no disputing its impact on the American psyche. In our winner-take-all society, we need balance between big-risk takers and steady small businesses. Ben states, “Entrepreneurs, at their core, are rare, transformative and risky. They are going to propel the society forward with big leaps of creative disruption. Small-business owners give us a stable base that de-risks the moonshots and protects us from the fallout of failures.” Our economy needs both the entrepreneur and the small-business owner.

To succeed in business, you have to know whether you’re playing as an entrepreneur who is ready to change the game, the industry, the world, or as a small-business owner seeking to make an impact on a smaller scale. If you’re trying to change the game, put on a pair of Shaquille O’Neal’s size 22, because that’s what changing the game feels like. Your choice whether to be an entrepreneur or small-business owner will affect how you start, fund, manage, and grow your business.

TAKEAWAY: Decide what you will be. Choose one.

For more from Anthony Price, read the IDH blog:

Innovation Is the One More Thing Part 1
Innovation Is the One More Thing Part 2

Purchase the book:

Get the Loot and Run: Find Money for Your Business

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CT CEO Shares Updates About Growing Tech Company

August 29 2018 Innovation Destination: Hartford Entrepreneurial Insights, Tech, Where Are They Now? 0 comments Tags: Connecticut, CT, small business growth, small businesses, tech company, technology

Control Station President and CEO Dennis Nash on a recent trip to one of the company’s software clients, Vertex Pharmaceuticals in Boston, MA.

Where Are They Now? Follow Up with Control Station President and Chief Executive Officer Dennis Nash

Innovation Destination Hartford met with Control Station, Inc. President and Chief Executive Officer Dennis Nash in December 2015. (Read the interview: Connecticut Technology Company Success—Control Station, Inc.) At that time, the company had recently moved to a new facility in Manchester, CT, having outgrown the venture incubation space within Nerac—a global research and advisory firm located in Tolland, CT.

IDH Website Curator Nan Price recently caught up with Dennis. He shared what the company has been doing since 2015 to grow and to help manufacturers improve production efficiency.

NAN PRICE: Tell us what’s new?

DENNIS NASH: When we spoke three years ago, Control Station had just moved to a new office space. Today, we’re the same rapidly growing tech company, but we now have 12 full-time employees, a joint venture in Ireland, and customers located in nearly 60 countries.

The U.S. Small Business Administration (SBA) even recognized us as the 2018 Exporter of the Year for the state of Connecticut. Those are all great developments and signs that we’re gaining momentum as well as gaining recognition.

NAN: Has the company experienced any major pivots since we featured your story?

DENNIS: We’re actually in the midst of pivoting from a software-only business to a technology-based solutions company. If you think back to 2015, we’d just established our PlantESP product as the company’s “growth engine” and we were determining the best way to package services with the software. At the time, we were unsure of the particular service offerings customers would want. But even then we knew that clients would benefit from a more hands-on approach.

It may not be as obvious here in the Greater Hartford area, but there’s been meaningful growth in the manufacturing market’s demand for production monitoring and diagnostic solutions. Manufacturers are increasingly looking for ways to do more with less—and that includes contracting for technologies like PlantESP as well as for value-added services.

Even though PlantESP can single out a plant’s “bad actors,” not every manufacturer has the engineering resources needed to do the analysis and determine the right corrective measures. Our service offerings enable customers to realize greater value from the PlantESP software. That’s the services niche we’ve targeted and its paying dividends.

Another interesting industry trend we’re watching is the steady shift of analytics technologies and services to the cloud. That may be the next pivot for us as PlantESP was recently redesigned to support delivery via the cloud. Only a small portion of the services we provide today are performed remotely. In a way, those engagements are helping us solidify the business case for a more comprehensive cloud-based offering.

NAN: How are you continuing to build your customer base?

DENNIS: It’s easier to grow existing accounts than it is to win over new ones—that’s one I’m sure you’ve heard before. So, we try to foster a culture of responsiveness and innovation, which seems to resonate with our customers. It’s not uncommon for me to get an email from someone praising one of our engineers for going above and beyond. I love hearing when the team goes the extra mile, makes an impact, and helps a customer to be successful. That’s what keeps customers asking for more—and it’s what seems to be driving our referral sales.

Responsiveness is key too. It’s kind of funny how easy someone’s expectations are exceeded simply by acknowledging their issue. Years ago, we automated our trouble ticket system so acknowledgements are instantaneous. What’s more, we’re responding to inbound support calls in under an hour. Considering that the industry standard is six hours or more, we’re way ahead of the game.

In terms of innovation, we see each customer interaction as an opportunity. That’s a bit cliché, and not every call or meeting unearths a new product breakthrough. Most support calls are pretty simple and it’s just a matter of helping the customer activate a software license.

But sometimes we get that unexpected surprise where a customer shares details about how they’re using our software—or more specifically how they’re trying to use it—and it’s an “ah ha” moment.

Our sales team is far more sophisticated now, too. They’re proactively hosting annual review meetings with our biggest accounts and our biggest users with the goal of learning “what’s next.” When you can stay in sync with your customers and address their needs that’s bound to keep them happy. It’s no surprise that what one customer views as valuable is usually valuable to others. And just like that, we’re able to keep the virtuous cycle going round and round!

NAN: In what ways do you connect with other entrepreneurs?

DENNIS: Even these many years in, there’s still a lot to learn. Control Station clearly isn’t a startup anymore, but we’re not on a glide path to success either. I’m just at a different phase with the business and focused on different challenges.

The Control Station team at a recent offsite event at Pine & Iron Axe Throwing in Hartford, CT.

At the start, I was laser focused on closing the next sale. Today, I spend more time on researching 401K programs and recruiting. Fortunately, I’ve cultivated a solid group of contacts over the years—other small business CEOs, venture guys, and serial entrepreneurs—people who I trust. It’s hard to know when I’ll need input, let alone on what topic. It’s nice having people who are dealing with similar challenges. It’s even better when they’ve got the answers.

I try to meet up with at least one of my contacts each month to get their take on trends, best-practices, and whatever challenges they might be facing. Over the years, I’ve gotten timely input on things as seemingly simple as sick days and vacation policy. Trust me, that stuff can keep you up at night when you’re getting started and constantly worrying about cash flow. You can’t underestimate the value of personal experience. What worked? What didn’t? Why? That’s information you can’t always get from Audible.

I also meet quarterly with the CEO of another automation company with similar revenues and a similar headcount, but he’s in hardware versus me being in software.

Our meetings focus on three things: A general update, performance against the last quarter goals, and plans for the next quarter. We’ve been meeting for several years now, so we understand each other’s business and management styles. More importantly, we’re at a point where we’re expected to hold each other accountable. It’s like having another board of directors.

NAN: What’s next for Control Station?

DENNIS: Fortunately, we’re on a nice growth trajectory. Even so, we’re looking at ways we can accelerate growth and extend our capabilities while maintaining the company’s core culture and values. We’re considering organic as well as inorganic ways of taking Control Station to the next level. Our joint venture in Ireland is one example of how we might look to expand in the future.

A key to growth will be continuing our investments in product innovation. We’re lucky to have some brilliant engineers on the team and many great ideas on our product roadmap.

It’s good being so close to the University of Connecticut too, as the school has been a major source of brainpower. Last time I checked, four out of five of our employees received at least one degree from UConn. We also recently engaged the university on a research project that could unlock new value for our customers. Hopefully that’ll lead to more sales so we can hire more UConn graduates so we can grow sales and so on and so on.

I also think it’s good to be located near a hotbed of innovative thinking and research. Hartford is becoming a magnet of sorts for entrepreneurs. There’s more and more buzz, especially in the FinTech arena.

Seven Stars, the new blockchain company that’s relocating from New York to West Hartford is just one example. All the buzz helps, as it’s making it easier to recruit. It seems as though college graduates aren’t just racing off to Boston or New York immediately after commencement. Hartford is becoming more of a draw for them. Now that we’re getting a professional soccer team, I imagine the sky is the limit!

NAN: Where do you see the entrepreneurial landscape heading in Connecticut?

DENNIS: Hartford seems to be making a steady transition from its old identity as the insurance capitol to a hub for innovators. I referenced Seven Stars when I mentioned FinTech. If that transition goes according to plan, I imagine it’ll serve as an anchor for other like-minded startups—whether in FinTech or another high-tech arena. The region would definitely benefit from an injection of youth and innovation. And where there is a critical mass of talent, I have to believe that Control Station will thrive.

Learn more about Control Station, Inc.

VISIT: controlstation.com
FOLLOW: Facebook | LinkedIn | Twitter | YouTube

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Entrepreneur Runs Successful Hartford-Based Tech Company

August 20 2018 Innovation Destination: Hartford Entrepreneurial Insights, Where Are They Now? 0 comments Tags: business success, Connecticut, CT, entrepreneur, Hartford, tech

Tech to Us provides managed IT services for businesses and remote home technical support services for home users. The company has been located in the Hartford Trust Building since it launched in 2010. In April 2018, Tech to Us expanded its offices.

Innovation Destination Hartford Website Curator Nan Price spoke with Tech to Us Founder & CEO Guy Citarella about the company’s evolution and future plans.

NAN PRICE: Have you always been entrepreneurial?

GUY CITARELLA: I’ve always wanted to start my own business. My business interest began when I was a kid. My family on my dad’s side owns businesses, so I was exposed to it at a young age. My goal was to eventually start my own company and at some point, I just decided to go for it.

NAN: Was Tech to Us your first startup?

GUY: Yes, I had done some freelancing on the side prior to launching Tech to Us, but this is my first startup of any major consequence.

NAN: When you were first starting out, was it just you?

GUY: It was me and one other person, a close friend, who was an employee. I was intentional about not having a partner. I’m 100% owner of the company.

That’s what I would recommend for any founder who’s looking to start up: If you lack a certain skillset that you absolutely need to have, then bringing someone on may be fine for you. If not, then keep full ownership. For me, keeping 100% ownership means at least I have some value for my time and all my investment in the company.

NAN: What were the biggest challenges you faced as you were starting up?

GUY: Two major things that always come to mind are marketing and finding good quality people especially on a startup budget.

Hiring is especially challenging when you’re just starting up. Now we’re finally able to pay more for quality talent. But during the startup days, the first couple of years were hard. And, when you’re running a service-based business you need people to execute your service. You’re not just selling or shipping a product or working in a warehouse, you’re customer-facing. You need high-quality people for these interactions. So, it’s always a challenge to find qualified people.

And then the other thing would be marketing, which is always a challenge. Everyone goes into business thinking: My service is great. I’ll just do this, this, and this. And then the customers don’t show up. They don’t just come knocking at your door. You have to go get them and find them in reasonable numbers, which isn’t always easy.

Finding quality people and marketing are still challenges to this day, in different ways.

NAN: Tech to Us is now in its eighth year. Tell us how the company has evolved.

GUY: We started with Tech to Us doing direct-to-consumer, remote technical support —home users. We still do that today

Also, the company was originally doing a lot of call center services for a mixture of customer care and tech support. We eventually eliminated any of the customer care services and focused on just providing technical services. Just over a year ago, we began providing managed IT services for businesses in addition to direct-to-consumer technical support. It was part of the reason for our expansion.

NAN: Was that based on customer need?

GUY: Yes. I think the future of our business—where we have the biggest growth potential—is based on our managed IT services. We have a tremendous opportunity to service businesses locally and nationally. Not that we’re getting away from our home user services—they’re currently still a very large part of our business, so we’re not moving away from that. But we have expanded in managed services and we already have many clients.

NAN: Speaking of customers, how have you been building your customer base?

GUY: Since we’ve been around for eight years, we get referral business and people who have used us in the past continue using our services. We also do web marketing. Obviously, the internet is a big draw for this industry—people searching for tech-support. For businesses, we do regular campaigns with cold calling and cold emailing. We also get a good amount of inbound leads from our website.

With marketing, the toughest challenge is balancing the cost of marketing with the return on investment. That’s also why we’re going more local for our B2B managed services. There’s a better value proposition of being able to go to a client’s site and meet to face to face and provide our IT expertise in person.

NAN: Do you have a specific target market?

GUY: For our home users, it’s really anyone. But our demographic is 90% are 55 or older. On the B2B side, we target smaller companies usually with 10 to 100 employees. We provide services across multiple verticals—pretty much any vertical with more than 10 employees needs IT support.

NAN: Let’s talk about the expansion. How many employees do you have now?

GUY: We recently hired a couple sales representatives for business development, so we now have 15 employees, which is a good size for us. We may expand and add more technical staff as the year goes on.

NAN: How did you choose the business location? Why Hartford?

GUY: In terms of choosing the Hartford area as our location, it was just a matter of luck in terms of an office space that fit our needs in our budget at the time. We’ve been in the same building ever since, even though the building changed ownership this past year. The location has worked out well for us.

We’ve been here for eight years and it was a good choice. I wouldn’t change anything. I personally love Hartford. I moved downtown two years ago, so I get to walk to work every day. Hartford is a good, centrally located city where it’s affordable to do business. It provides those extra city resources and pulls in a wide area of people, so you can be downtown without having the high expense.

The city is up-and-coming. Hence why I moved here. I see a lot of potential here in Hartford—it’s obviously grown a lot over the past several years. You can see the difference.

NAN: Tell us something we don’t really know about what it’s really like to be an entrepreneur. Anything that surprised you?

GUY: As an entrepreneur, you have to realize that the rest of the world doesn’t operate like Silicon Valley. Venture capitalists aren’t going to come knocking on your door dropping millions of dollars.

Tech to Us is a bootstrapped company from the ground up, built with my own money. Being an entrepreneur is tough financially, especially at first—and, to be frank, ongoing as well. Every year, every month, it’s always looking at how much money we are bringing in versus how much money is going out.

I thought it would be much easier after a few years, but that challenge always exists, even as you’re growing the business. Because as you grow, you need to put more money into the business to grow by hiring or by investing in another technology. So, there’s always that feeling that you’re behind the curve. You’re always trying to catch up to your spending and your revenue. And, until you get that big boom, it’s difficult to maintain.

NAN: Any advice for other entrepreneurs?

GUY: The number one thing is: You think it’s going to come faster or you can get more business sooner. But it takes time and patience and it takes good money management.

For someone starting up a business, they say you should have at least six months of living expenses in the bank before you launch. I would say at least double that just to play it safe, because for about the first year of this company I wasn’t really making anything myself. I was living on what I had and what I could afford to pay myself, but it wasn’t much.

NAN: What’s next for Tech to Us?

GUY: Our goal is to grow our B2B managed IT services. That’s our big focus. Not that everything else is less valuable to us, but we got that figured out and we’re doing well with it.

Our next phase as we continue to grow will be eventually adding even more higher-level technicians to help us handle our increased number of projects. We’re seeing continued growth in our managed IT services that would definitely cause us to need such qualified people.

Our local presence as a full managed IT services firm is proving to be in demand as we service businesses in Connecticut and the surrounding states.

Learn more about Tech to Us

VISIT: www.techtous.com
FOLLOW: Facebook | Twitter

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Entrepreneurship and Innovation Thriving in Northeast Connecticut

July 26 2018 Innovation Destination: Hartford Entrepreneurial Insights 0 comments Tags: business owner, Connecticut, Connecticut tech startups, CT, CTNext, entrepreneurship, incubator, innovation, Innovation Place, Kevin Bouley, Nerac, UConn, UConn TIP

"I see significant and impactful connections being made here in Connecticut," says Nerac President Kevin Bouley.

Nerac President Kevin Bouley provided an update about entrepreneurial and innovative activities in the northeastern part of Connecticut since his last interview with Innovation Destination Hartford in September 2015.

NERAC BECOMES A CTNEXT PARTNER

Given the role I play fostering entrepreneurial and innovative activities—techpreneurship—particularly at the University of Connecticut, I was encouraged to submit an application to become a CTNext partner.

CTNext reviewed the application favorably, and has recognized Nerac as a CTNext partner. The value is in an expansion of the Nerac Venture Incubator serving the northeast region of Connecticut, with an emphasis on UConn. This enables increased levels of engagement, support, mentoring, and assistance for the community of tech startups.

XCELLR8

Another focus of my efforts has been enhancing the XCellR8 programming—in both reach and frequency. The CTNext Partnership allows us to bring in the assistance of Dr. Ripi Singh, President and Innovator of Plus4pi, with Inspiring Next.

It was important that we expand the XCellR8 venue from being physically tied to the Nerac building and evaluate whether the XCellR8 sessions could be equally effective if held on campus, at the Graduate Business Learning Center in Hartford, or at the Innovation Partnership Building on campus.

In November 2017, the very first XCellR8 session was held at the NextGen Residence Hall (now the Peter J. Werth Residential Tower) on the UConn Storrs campus. The location is of significance, because it houses students who have a specific interest in innovation-related activities and are involved in one of eight Living & Learning Communities:

EcoHouse
Engineering House
Eurotech House
Innovation House
Honors to Opportunities (H2O) House
Public Health House
ScHOLA²RS House (Scholastic House of Leaders in Support of African American Researchers & Scholars)
WiMSE (Women in Math, Science, & Engineering)

By bringing XCellR8 to UConn, we can more readily interact with the learning communities. And, depending upon the nature of the presentation or the subject matter being covered at that session, the learning communities may have an interest in sponsoring or becoming more directly engaged in that particular XCellR8 session.

The hope is that exposing freshman and sophomores to this kind of programming will stimulate their interests in any number of the different entrepreneur- and innovation-related programming currently taking place at UConn and give them an opportunity to think proactively about their own ideas.

These students might submit for an idea grant. They might apply to become part of Accelerate UConn or the National Science Foundation Core program. They might apply to the Summer Fellowship program at the Connecticut Center for Entrepreneurship and Innovation (CCEI). They might apply to Innovation Quest (IQ). There are many opportunities for them to become involved.

The strong brand and reputation of XCellR8 is drawing interest from a number of different areas. We have now startups from the UConn Technology Incubation Program (TIP) and reSET that are being referred to XCellR8 for further advancement, refinement, and development.

Companies participating in formal programs at UConn—whether it’s the Wolff New Venture Competition, the IQ Competition, or HackUConn—are now aware of XCellR8 as a vehicle that can be used to prepare and polish presentations prior to the competition.

The facilitation of these discussions—with companies very early in their development and in the subsequent stages of development and growth—has proved to be highly effective. So, the elevated skillset within the XcellR8 network is now helping a whole host of entrepreneurs and their ventures advance from one stage to next, and to the next, and to the next. Feedback has been overwhelmingly positive and we’re already working on a program schedule for fall 2018 and spring 2019.

EMERGING PARTNERS

Other partners are beginning to emerge from within our entrepreneurial ecosystem. Arrow Electronics, a large multinational electronics equipment provider out of Wallingford, has been a stalwart supporter of XCellR8 for many years. Arrow, which looks to advance technology-based ventures, has a partnership agreement with Indiegogo, a crowdfunding site for early-stage innovations in tech and design.

Arrow is a conduit through which ventures may be qualified to submit to Indiegogo. It’s in Arrow’s best interests, because the company can build value in the customer supply chain.

It’s very interesting to look at Arrow as a prospective early-stage venture investor—a super angel—for these types of emerging companies.

Exciting developments are also taking place in Stamford with UConn’s Stamford campus now having on-campus housing. The number of students interested in attending UConn at the Stamford campus has mushroomed, giving credence to the idea that a FinTech lab could thrive there.

POSITIVE CONNECTIONS

I see significant and impactful connections being made here in Connecticut—Upward Hartford, the Innovation Place Hartford/East Hartford, the build out of the University of Connecticut Graduate Business Learning Center in downtown Hartford, the growing InsurTech and FinTech activity. Pieces are now emerging in the Connecticut landscape that provide an increasing level of early-venture development and innovation-supported techpreneurship in a very positive way.

Learn more about Kevin Bouley and Nerac

READ: Entrepreneur at Heart Creates Entrepreneurial Opportunities in Connecticut
VISIT: www.nerac.com
FOLLOW: Facebook | Twitter

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Entrepreneurial Insights