The December 4th Best Practice program was sponsored by Bridgepoint which addressed the current economic crisis, offering information on how it is unfolding and the best strategies to cope and survive during these times. The festive room at Chez-Zee Bistro and Bakery, was filled with our members, interested local business professionals and entrepreneurs poised and ready to hear a presentation by Kit Webster, a Bridgepoint consultant that has over 30 years of senior management experience. Kit Webster has been the CEO and CFO of publicly and privately held companies. He has taught at the University of Texas at Austin and is currently teaching Business Process Excellence in the business school and he has successfully restructured numerous companies, led mergers, acquisitions and IPOs.
There were many questions and a lot of details providing insight and clarity to what has, is and will be going on in the coming months and years, but for those of you that were unable to attend, here is an overview of Dr. Webster’s presentation:
The world is in the midst of a severe debt deflation created by the mispricing of risk and the extreme leveraging of assets, particularly real estate and derivatives, in turn part of a financial mania. The impact of the resulting deleveraging and marking to market on the US economy, which is 70% reliant on consumer spending, will be profound and will take years to rationalize. The impact will reach into all aspects of the global financial system and its regulatory structure, having as great or greater impact on the rules of capitalism as the changes during the Great Depression. The Fed and the Treasury do not know what to do since there is no precedent, and are making it up as they go along. At the moment they are focusing on preventing systemic collapse; later they will focus on other issues, however their current actions will have significant unintended consequences including moral hazard and subsidizing those who should fail to compete against those who remain strong.
Managers should revise their expectations to focus on survival instead of growth, on preservation of cash and return of investment as opposed to return on investment. They should expect credit to be less available, to cost more, and to have significantly more onerous terms; they should expect equity to be very expensive, if it is available. They should nurture very close relationships with customers, investors, and bankers to ensure the maximum probability of survival. They should relentlessly cut costs and require a higher return on any investment of cash than they have in the past few decades. If possible, they should position themselves to take advantage of reduced prices on assets in the coming years.
The power point presentation is available for our members at www.austintechnologycouncil.org
Monday, December 15, 2008
Thursday, November 6, 2008
Onward and upward
Whew! We made it past Austin’s unofficial “Tech Week”. InnoTech, Texas Wireless Summit and Maker Faire which were all smashing successes! After the networking fervor of the week had come to a close, I need to crash for most of the following weekend.
But, now that that’s behind us and we’re looking forward to wrapping up 2008 programming, setting the stage for 2009 and revamping our agenda. It’s a clean slate: new options, new ideas and new folks on our team. Nicole Gloor joined us last Wednesday and has rolled into our group with an uncanny enthusiasm to meet each and every member of the Austin Technology Council. Soozie and I dashed from our Happy Hour last night at 8:00 and Nicole was still rearing to go---love it! Wish I could bottle it, take it and share it, but alas…I found myself crashing by 8:15. Which, certainly seems to be a theme!
Just about every person I spoke to last night asked the same question: What is ATC seeing during these uncertain times? It’s true, we have access, insight and information on what local companies are doing, where they are cutting back and concerns they have. On a very basic level we’re seeing a jump in attendance at our events. This, I firmly believe is directly impacted by the safety in numbers theory. People are looking for insight on what others are doing, how they are reacting and if they’re missing any opportunities. We’re also seeing smaller companies continue to hire and seek customers. Business has and always will continue to tick. Mind you, I do not claim to be an economist, but the themes we are seeing with our membership are focused spending, effective use of networking, and clear communication. This all may change 3-6 months out, and throughout we will continue to provide networking, education and facilitate meetings.
Next week we’re hosting a program called Vision 2009 which is intended to provide feedback from our community on what else we can do to provide value. We’re looking forward to learning more about what we can do for our members beyond our current agenda. Our expectation is that it’ll be just the zing of fresh ideas we need during our planning for next year. Registration is open, hope you can join us.
But, now that that’s behind us and we’re looking forward to wrapping up 2008 programming, setting the stage for 2009 and revamping our agenda. It’s a clean slate: new options, new ideas and new folks on our team. Nicole Gloor joined us last Wednesday and has rolled into our group with an uncanny enthusiasm to meet each and every member of the Austin Technology Council. Soozie and I dashed from our Happy Hour last night at 8:00 and Nicole was still rearing to go---love it! Wish I could bottle it, take it and share it, but alas…I found myself crashing by 8:15. Which, certainly seems to be a theme!
Just about every person I spoke to last night asked the same question: What is ATC seeing during these uncertain times? It’s true, we have access, insight and information on what local companies are doing, where they are cutting back and concerns they have. On a very basic level we’re seeing a jump in attendance at our events. This, I firmly believe is directly impacted by the safety in numbers theory. People are looking for insight on what others are doing, how they are reacting and if they’re missing any opportunities. We’re also seeing smaller companies continue to hire and seek customers. Business has and always will continue to tick. Mind you, I do not claim to be an economist, but the themes we are seeing with our membership are focused spending, effective use of networking, and clear communication. This all may change 3-6 months out, and throughout we will continue to provide networking, education and facilitate meetings.
Next week we’re hosting a program called Vision 2009 which is intended to provide feedback from our community on what else we can do to provide value. We’re looking forward to learning more about what we can do for our members beyond our current agenda. Our expectation is that it’ll be just the zing of fresh ideas we need during our planning for next year. Registration is open, hope you can join us.
Monday, October 20, 2008
InnoTech, 2008
We are pleased to announce InnoTech was a huge success this year! For those that were not able to attend this year we were thrilled to have a solid attendance and impressive trade show floor. Overall feedback was the speakers were top notch, the networking was extremely valuable and content was focused & educational. InnoTech 2009 has been set for October 29, 2009 if you’d like more information on how to participate please contact Sean Lowery at (503) 570-6295.
We would also like to congratulate the winners of the AITP IT Executive of the Year Awards held annually at the InnoTech conference.
- Scott Smith, Temple Inland IT Executive of the Year, Private Sector
- Richard Reynolds, City of Bee Caves, IT Exec of the Year, Public Sector
- James Keeler, Wayport, Information Technologist of the Year
Your commitment to the Austin community, our technology sector and the Austin Technology Council is greatly appreciated. We thank you for your continued efforts.
We would also like to congratulate the winners of the AITP IT Executive of the Year Awards held annually at the InnoTech conference.
- Scott Smith, Temple Inland IT Executive of the Year, Private Sector
- Richard Reynolds, City of Bee Caves, IT Exec of the Year, Public Sector
- James Keeler, Wayport, Information Technologist of the Year
Your commitment to the Austin community, our technology sector and the Austin Technology Council is greatly appreciated. We thank you for your continued efforts.
Wednesday, September 17, 2008
Growing Beyond Series A Funding: CxO Best Practices
Yesterday’s CxO Best Practice Program was focused on what next steps a company takes after closing their round of Series A funding.
For most their company has entered the growth stage and is facing the challenges of building a business, developing a market presence, expanding technology, and hoping that one day they will become profitable. All of this, while expenses continue to skyrocket. This is a critical tipping point. Unless executives can effectively manage their business and utilize the proper structure, strategy and tools, they'll most likely fall victim to negative cash flows and their growth will not only be halted but stopped altogether. Unless they can secure patent, copyright, and/or trademark protection as the business grows, their technology may be at risk. Luckily, there are a slough of financial, legal and strategic experts who can help. The panelist focused on a number of general points around IP, office space, Headhunters, Board Management and Series-B funding.
1. How can a company protect its IP when pitching their product to a major corporation? First, identify the value of the patent and do not lose sight of the overall business model when trying to file. This process sometimes takes over 2 years and a great deal of money; when many times, it’s not necessary. If your IP represents a unique idea, then it’s worth either “keeping it a secret” or place confidentially provisions on all documentation. Most investors are not focused on how many patents a company has, they’re more interested in the execution, management and business model. Be explicit, document everything and be completely honest with your board: but that was our lawyer speaking.
2. How do you go about selecting an office space when you’re very small and not sure how big you’ll be in 1-2 years? Focus on getting a good tenant rep first and then consider subletting so you’re not stuck in a lease. Also, be prudent and do not buy what you cannot afford; especially in your first 1-2 years out of the gate.
3. Is it worth hiring a headhunter? If you are being hurt by revenue or growth opportunities by not filling this position---hire someone. Also, check with your board and talk with VC’s before hiring a headhunter.
4. Where can the board help you? They are there to help you accomplish your goals: be open and honest with them about them. Do not sell in the first board meeting, focus on being in business mode and set a tone for realistic and pragmatic goals.
5. When do you focus on Series-B Funding? Start thinking about series B immediately after closing Series A. You need to position your company to track to a successful Series B by executing your plan but also by thinking about what the options are for follow on funding (strategic investor, debt financing, new lead for equity round, some combination of the above).
If you have additional questions about today’s program please visit www.austintechnologycouncil.org
Speakers:
Corey Blahuta, Managing Director-Austin, vcfo
Michael Barrett, Fulbright & Jaworski LLP
Jeff Sunshine, The Bank Street Group LLC
Moderator: Michael Cation, Founder, NovusEdge
For most their company has entered the growth stage and is facing the challenges of building a business, developing a market presence, expanding technology, and hoping that one day they will become profitable. All of this, while expenses continue to skyrocket. This is a critical tipping point. Unless executives can effectively manage their business and utilize the proper structure, strategy and tools, they'll most likely fall victim to negative cash flows and their growth will not only be halted but stopped altogether. Unless they can secure patent, copyright, and/or trademark protection as the business grows, their technology may be at risk. Luckily, there are a slough of financial, legal and strategic experts who can help. The panelist focused on a number of general points around IP, office space, Headhunters, Board Management and Series-B funding.
1. How can a company protect its IP when pitching their product to a major corporation? First, identify the value of the patent and do not lose sight of the overall business model when trying to file. This process sometimes takes over 2 years and a great deal of money; when many times, it’s not necessary. If your IP represents a unique idea, then it’s worth either “keeping it a secret” or place confidentially provisions on all documentation. Most investors are not focused on how many patents a company has, they’re more interested in the execution, management and business model. Be explicit, document everything and be completely honest with your board: but that was our lawyer speaking.
2. How do you go about selecting an office space when you’re very small and not sure how big you’ll be in 1-2 years? Focus on getting a good tenant rep first and then consider subletting so you’re not stuck in a lease. Also, be prudent and do not buy what you cannot afford; especially in your first 1-2 years out of the gate.
3. Is it worth hiring a headhunter? If you are being hurt by revenue or growth opportunities by not filling this position---hire someone. Also, check with your board and talk with VC’s before hiring a headhunter.
4. Where can the board help you? They are there to help you accomplish your goals: be open and honest with them about them. Do not sell in the first board meeting, focus on being in business mode and set a tone for realistic and pragmatic goals.
5. When do you focus on Series-B Funding? Start thinking about series B immediately after closing Series A. You need to position your company to track to a successful Series B by executing your plan but also by thinking about what the options are for follow on funding (strategic investor, debt financing, new lead for equity round, some combination of the above).
If you have additional questions about today’s program please visit www.austintechnologycouncil.org
Speakers:
Corey Blahuta, Managing Director-Austin, vcfo
Michael Barrett, Fulbright & Jaworski LLP
Jeff Sunshine, The Bank Street Group LLC
Moderator: Michael Cation, Founder, NovusEdge
Wednesday, September 10, 2008
Power Lunch: Nanotechnology and Creativity and their Economical and Societal Implication
Yesterday Dr. Zvi Yaniv spoke at The Austin Technology Council Power Lunch focused on Nanotechnology and creativity and their economical and societal implications. Dr. Zvi Yaniv is the President and Chief Operating Officer of Applied Nanotech Holdings, Inc. and the President and Chief Executive Officer of Applied Nanotech, Inc.
His presentation was based on the fact that we stand in the midst of a significant convergence of technological innovation and creativity. We have entered a conceptual age where creative forces are producing new business and technologies, most remarkably in nanotechnology. Nanotechnology is deemed the human race's greatest scientific achievement yet, completely changing every aspect of the way we live.
In the 21st century, nanotechnology will replace natural sciences taking us from the industrial age into the nanotechnical age where there is virtually no limit to the shape and size of the objects and devices that can be made. Examining the molecular world is much like experiencing any other physical art form. There is a relationship of size, shape, strength, force, and motion. Just as artists create meaningful new forms, so do nanotechnologists – both revealing a new world of the profound and the unexpected.
The new economy’s demand for creativity has manifested itself in the emergence of what Richard Florida has termed “the creative class”. Using a broad definition of the term, the Creative Class is anyone whose work function is to produce new ideas, new technology, and / or new creative content. (1) Nanotechnology is becoming the world’s freshest expression of human creativity. The presentation showed how this symbiotic relationship between nanotechnology and creativity was used and validated in redefining successfully a leading technology company such as Applied Nanotech, Inc. For more information on Dr. Zvi Yaniv’s presentation, visit www.austintechnologycouncil.org
His presentation was based on the fact that we stand in the midst of a significant convergence of technological innovation and creativity. We have entered a conceptual age where creative forces are producing new business and technologies, most remarkably in nanotechnology. Nanotechnology is deemed the human race's greatest scientific achievement yet, completely changing every aspect of the way we live.
In the 21st century, nanotechnology will replace natural sciences taking us from the industrial age into the nanotechnical age where there is virtually no limit to the shape and size of the objects and devices that can be made. Examining the molecular world is much like experiencing any other physical art form. There is a relationship of size, shape, strength, force, and motion. Just as artists create meaningful new forms, so do nanotechnologists – both revealing a new world of the profound and the unexpected.
The new economy’s demand for creativity has manifested itself in the emergence of what Richard Florida has termed “the creative class”. Using a broad definition of the term, the Creative Class is anyone whose work function is to produce new ideas, new technology, and / or new creative content. (1) Nanotechnology is becoming the world’s freshest expression of human creativity. The presentation showed how this symbiotic relationship between nanotechnology and creativity was used and validated in redefining successfully a leading technology company such as Applied Nanotech, Inc. For more information on Dr. Zvi Yaniv’s presentation, visit www.austintechnologycouncil.org
Friday, September 5, 2008
Sales & Marketing Strategy Session: Trade Show 101
Yesterday’s Sales and Marketing Strategy Session (SMSS) focused on the dos and don’ts of trade show marketing. We are entering the season of Austin trade-shows and it’s astounding how many companies prepare the night before the conference the marketing materials, brand image or goals on attending. With the opportunity to meet hundreds of motivated potential customers, tradeshows are one of the most cost-effective "face-to-face" marketing methods available today. Done correctly, business from a tradeshow can repay the investment 10x over. Done incorrectly and you've wasted not only financial and human resources, but missed the opportunity to create brand awareness and build a potential client base.
The panel was a strong compilation of CEO’s, executives and directors who have been in the industry for a combined century of experience.
Speakers:
* Steve Golab, CEO & President, FG SQUARED
* Christopher Justice, CEO, Sparksight
* Danny Kent, Sr. Account Manager, Xtreme Xhibits by Skyline
* Jamie Klemcke, Director of Marketing, QuantumDigital
* David Smith, Founder, Envision Creative Group
Moderator: George Stevens, CEO, Guidelight Business Solutions
Christopher Justice, CEO of Sparksite made the suggestion that you should attend with TWO of the following hats on:
Attendee: Uses personal interaction and contacts to build new opportunities.
Speaker: Showcases a vendor’s expertise through a specific employee.
Partner: Demonstrates alignment with an industry event of significance.
Conference Sponsor: Proves that you have money and you want to be seen.
Exhibitor: Let’s everyone know that you want more customers.
Steve Golab, CEO FG SQUARED’s advice for pre and post exhibit preparation:
Pre-show
* Plan ahead to make sure important details are not sacrificed or missed.
* Develop event campaign within context of big picture, goals, etc.
* Schedule booth operations, client meetings, and dinner plans in advance.
* Testing, testing, and more testing of AV and booth technology.
Post-show
* Ensure timely documentation and follow-up on leads. Track results.
* Apply continuous improvement process including post-show assessment.
Overall the message was be prepared, be efficient and understand your goals before entering the trade show arena. Let us know if you have additional questions about the program, or exhibiting at your next trade show!
The panel was a strong compilation of CEO’s, executives and directors who have been in the industry for a combined century of experience.
Speakers:
* Steve Golab, CEO & President, FG SQUARED
* Christopher Justice, CEO, Sparksight
* Danny Kent, Sr. Account Manager, Xtreme Xhibits by Skyline
* Jamie Klemcke, Director of Marketing, QuantumDigital
* David Smith, Founder, Envision Creative Group
Moderator: George Stevens, CEO, Guidelight Business Solutions
Christopher Justice, CEO of Sparksite made the suggestion that you should attend with TWO of the following hats on:
Attendee: Uses personal interaction and contacts to build new opportunities.
Speaker: Showcases a vendor’s expertise through a specific employee.
Partner: Demonstrates alignment with an industry event of significance.
Conference Sponsor: Proves that you have money and you want to be seen.
Exhibitor: Let’s everyone know that you want more customers.
Steve Golab, CEO FG SQUARED’s advice for pre and post exhibit preparation:
Pre-show
* Plan ahead to make sure important details are not sacrificed or missed.
* Develop event campaign within context of big picture, goals, etc.
* Schedule booth operations, client meetings, and dinner plans in advance.
* Testing, testing, and more testing of AV and booth technology.
Post-show
* Ensure timely documentation and follow-up on leads. Track results.
* Apply continuous improvement process including post-show assessment.
Overall the message was be prepared, be efficient and understand your goals before entering the trade show arena. Let us know if you have additional questions about the program, or exhibiting at your next trade show!
Thursday, August 28, 2008
2009 Planning
The dog days of summer are still upon us and already the buzz around the community is starting to pick back up again. Fall has arrived, school is in session and 2009 planning has begun. Shame it’s still 100+ degrees outside and the thought of hitting yet another networking event seems about as appealing as actually starting 2009 planning.
Recently I was talking with colleague who also hosts a number of events during the year and he made a very poignant point: attendance to your event is actually a self-actualizing success metric for YOU, not the attendees. An interesting way to flip the coin, I had never considered that in truth our main measurement of a program was how many, who and what the feedback was from those in attendance; not the intangible follow-up summary, dialogue or content shared among our community receiving the information from their wireless device or colleagues.
Of course, though wise in my years (ah-hem) I cannot claim to be the first to have this ah-ha moment. The flurry of LinkedIn, twitter, blogs and other online communities are creating such strong value in our daily communication. Question I am left pondering is does ATC focus our attention to the online-network or do we continue holding events in our coming year? Surely there is a balance and opportunity to take the unpaved road…but really, it’s just yet another reason why I’m left procrastinating on that pesky 2009 planning.
Tuesday, August 12, 2008
TECHNA: Chicago, IL (8/6-8/8)
This past week I went up to Chicago and attended my first TECHNA conference, for those of you unfamiliar this organization it is the association of tech associations. Upon arrival I found a room full of peers, similar in enthusiasm and shared interests…that is, after I found the correct room full of peers. Leave it to me to hop in a cab with total strangers headed to the same restaurant for a similar conference. Eventually I found my way.
I opened my notebook, sharpened my pencils, and ordered a double venti was prepped and ready to go. The first session was a program on what cities need to ensure success; as in the Richard Florida school of thought on being unique to your region. In many ways, Austin is the epitome of being successful in this space with a university, strong community connections, innovation, creative clusters, understood differences and strong core city vitality. Check---we were on our way!
Digging further into association programming and overall mission, the discussion was around peer groups and the value of clusters, special interest and professional groups. This was the real meat on where each organization had a different goal, benchmarks and overall value. ATC offers Cluster groups (Wireless, Life Sciences, Clean Energy) Interest Groups (Java, Dot Net, PMO and Sales programming) while the Professional groups (CEO, CIO Roundtables) are effective shared resources. Again---check. But PLENTY of room to grow!
The networking between programming truly offered the most value. Utah, Pittsburg, Vermont, Ottawa, Louisiana, all represented along with 30 other councils looking for the same shared knowledge. It was invigorating and the outlet I was looking for; a complete breath of fresh air and new ideas.
The afternoon sessions delved into board management, community partnerships, policy efforts, program ideas, membership value. The second day focused on web presence, development, branding, event promotion, surveys, operations, interns, communication and role in the community. Not a small spread of topics to cover in one day. I left with pages and pages of notes and new ideas and ways to truly improve the overall value of ATC.
I trekked back to Austin late Friday night and didn’t open my notebook all weekend; rather, I let it marinate until Monday. I walked into my office yesterday and BAM! We have a new blog, Face book page, Linkedin groups, iPhone logos, Wikipedia page (in the making) and a our team has a new invigorated spirit to improve the overall value of ATC.
This all came about because I was inspired by a conversation with a colleague a few months back when he said, it was essential for ATC to represent a successful organization as it is a direct reflection of our overall Central Texas economy. A daunting truth, but one where we are able to challenge the boundaries and continue to grow.
I opened my notebook, sharpened my pencils, and ordered a double venti was prepped and ready to go. The first session was a program on what cities need to ensure success; as in the Richard Florida school of thought on being unique to your region. In many ways, Austin is the epitome of being successful in this space with a university, strong community connections, innovation, creative clusters, understood differences and strong core city vitality. Check---we were on our way!
Digging further into association programming and overall mission, the discussion was around peer groups and the value of clusters, special interest and professional groups. This was the real meat on where each organization had a different goal, benchmarks and overall value. ATC offers Cluster groups (Wireless, Life Sciences, Clean Energy) Interest Groups (Java, Dot Net, PMO and Sales programming) while the Professional groups (CEO, CIO Roundtables) are effective shared resources. Again---check. But PLENTY of room to grow!
The networking between programming truly offered the most value. Utah, Pittsburg, Vermont, Ottawa, Louisiana, all represented along with 30 other councils looking for the same shared knowledge. It was invigorating and the outlet I was looking for; a complete breath of fresh air and new ideas.
The afternoon sessions delved into board management, community partnerships, policy efforts, program ideas, membership value. The second day focused on web presence, development, branding, event promotion, surveys, operations, interns, communication and role in the community. Not a small spread of topics to cover in one day. I left with pages and pages of notes and new ideas and ways to truly improve the overall value of ATC.
I trekked back to Austin late Friday night and didn’t open my notebook all weekend; rather, I let it marinate until Monday. I walked into my office yesterday and BAM! We have a new blog, Face book page, Linkedin groups, iPhone logos, Wikipedia page (in the making) and a our team has a new invigorated spirit to improve the overall value of ATC.
This all came about because I was inspired by a conversation with a colleague a few months back when he said, it was essential for ATC to represent a successful organization as it is a direct reflection of our overall Central Texas economy. A daunting truth, but one where we are able to challenge the boundaries and continue to grow.
Monday, August 11, 2008
First time round: Austin Technology Council Post #1
Today marks a landmark movement for the Austin Technology Council. August 11, 2008 at 3:30 pm ATC has decided to embrace all that social networking has to offer; mind you, this is a decision three years in the making. Thanks to the many emails, rants, recommendations and comments…we have decided this would be an effective grassroots effort to expand our message and the three-dimensional aspect of our community.
For those of you who are not familiar with the Austin Technology Council, we are member-driven association of business and organization executive leaders, working together to promote the growth and success of
To better define our mission, we host over 100 events during the year to aide technology companies in growing to the next level through education, networking and policy work. As we are a small (staff of three) non-profit, we have found that branding ourselves through different channels and partners has helped us to grow our presence and network beyond
And so it begins, we have also launched a Facebook, Twitter, Plaxo, LinkedIn and iPhone logo for our site. Visit www.austintechnologycouncil.org for more information.
Subscribe to:
Posts (Atom)
