As the South Florida startup community matures, more and more opportunities pop up every week to network and learn from the experiences of successful entrepreneurs. One such event this week that attracted a standing-room-only audience was Part I of the Entrepreneur Education Series hosted by the Miami-Dade Chamber's Young Professionals Network and Florida International University's Pino Global Entrepeneurship Center.
YPN was started in 2007 after an FIU study came out about the area's Brain Drain, the organizers told me. If we can give our young professionals the education, mentorship and connections they need, as well as the opportunities to engage in the community, there's a better chance they will stay in the area and become leaders that end up mentoring the next generation. Makes a lot of sense. The organization, which accepts professionals 40 and under, has more than 125 dues paying members and hundreds more on its email list.
In a large conference room at the UM Life Science Building, YPN and the Pino Center assembled an awesome panel that included Felecia Hatcher, founder of Feverish Ice Cream (and social media extraordinaire); Joshua Blank, president of MiamiSeedlings incubator; Bob Arnold, attorney with Victory Law Group; Ana Cela Harris, founder of Cela Advisors; Melissa Krinzman, managing director of Venture Architects; and Marco Scanu, executive coach with 345 Group.
I heard advice on business plans, finding funding sources, financials, using community resources, finding mentors and building a network, creating a company culture. Assembling a strong board of advisors is key. Some of the other advice given:
* The first question to ask is what problem are you solving? Frame your business around solving a problem for your potential customers.
* You are your best sales person for your business. Sell your story.
* The most successful companes are partnerships, not single leaders. At the end of the day, you can have a B or C idea but if you don't have an A team you won't be successful.
* When presenting a business plan to investors, two to five page executive summary style plans are in vogue. But for you, the value in writing a business plan comes from the questions you ask yourself and the roadmap you set for yourself.
* The best market research you can do is use your eyes and your ears. You have to differentiate yourself.
* Do your research, but don't educate yourself out of your dream. Create a prototype and test it out.
And one of my favorite quotes of the evening: "If you are not enjoying what you are doing, go back to your day job."
For the 125 or so of you who attended last night, what advice resonated with you?
(Photos provided by YPN Miami: Top: Felecia Hatcher of Feverish Ice Cream; Middle: Melissa Krinzman of Venture Archtects; Bottom: crowd attending Entrepreneurship Education Series; Marco Scanu of 345 Group and Joshua Blank of MiamiSeedlings.)