This week, the so-called Employee Free Choice Act, or "Card Check" was introduced in the U.S. Congress.
This bill would effectively eliminate our right to vote by private ballot when deciding whether to join a union, and undermine our right to freely negotiate contracts. It would also kill jobs in America when we need them most. We cannot open the door to coercion, and allow freedom to be supplanted by fear in the workplace. Based upon Congress' actions today, it's clear we have an urgent fight on our hands.
To defeat this destructive bill, we began our Freedom Not Fear campaign last week, and introduced Saul Anuzis to lead this project as National Chairman. In just a few days, close to 70,000 Americans have signed the petition.
Please stand with us today and sign the Freedom Not Fear petition by clicking here. Once you sign, please recruit your friends and family, so together we can build a strong grassroots network of citizen leaders across the country.
-The Austin Technology Council.
Wednesday, March 18, 2009
Monday, December 15, 2008
Economy in 2009: What to expect?
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
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
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!
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