January 2001 Newsletter
PLEASE NOTE: THE MEETING DAY HAS CHANGED FROM
THE FIRST TO THE SECOND TUESDAY OF EACH MONTH!
Matt Noah of NetSuds Speaks on
"Stepping Into the Fire:
So You Want to Be An Entrepreneur?"
January 9, 2001 @ 7 p.m.
January speaker Matt Noah, the founder of NetSuds, has
created a business out of networking. Noah brings high-tech
entrepreneurs face-to-face with potential investors in NetSuds
settings that include drinks (i.e. suds) and appetizers. Besides
Noah's quarterly NetSuds evening gatherings, there are also
breakfasts for monthly morning get-togethers. Last September, he
hosted a Silicon Valley conference where start-ups courted some of
the country's top venture capitalists.
On Jan. 9, Noah will speak on "Stepping into the Fire: So You
Want to be An Entrepreneur?"
Noah describes his entrepreneurial expertise as "creating a
business opportunity for people in a particular market. That market
deals with telecom, datacom, and the Internet. As most people
know, that's about 80 percent of the new economy right now."
NetSuds events attract hundreds of technical-oriented
entrepreneurs who attend gatherings both to see and be seen. A
popular part of NetSuds breakfasts are the 60-second elevator pitch
in which start-ups must distill their company into a minute
description.
Not only has the exercise attracted funding for new ventures, but
the exercise is a "must-do" prerequisite for networking. By forming
NetSuds, Noah practiced the networking principle he suggests to
start-ups: Put down the mouse and mingle. "The ability to see
connections between people and to use that information to their
advantage helps them," says Noah. "It helps me. It's good
business. It doesn't seem magical to me. It seems obvious."
Some in Minnesota credit Noah with retaining a technical force
that might otherwise have migrated to Silicon Valley. Others view
him as the conduit to potential capital as well as to individuals and
ideas that are needed to make the entrepreneurial journey. Still
others regularly visit his Web site ( http://www.NetSuds.com)to learn
the latest in networking possibilities.
Be sure and come hear "Stepping Into the Fire: So You Want to
Be an Entrepreneur?" with Matt Noah of NetSuds.
Place: St. Thomas, 10th & LaSalle 2nd Floor.
Free to members.
Pre-Meeting Seminar 5 p.m. - 6:30 p.m.
The old adage, "Don't expect what you don't inspect" really holds
true with a Web site. But how do you inspect a Web site? A gold
mine of information is available within a Web site in the form of a log
file, providing the most accurate feedback for updating and revising
a Web site. In short, understanding log files can help you determine
if you are meeting your web site goals.
On January 9 at 5 PM, Ed Palmer presents the pre-meeting
seminar, "What's Happening at Your Web Site - Part II: Advanced
Web Site Analysis Using Summary."
Registrants do not have to have attended Part I in order to
register. In Part I, Palmer introduced Log File Analysis using two
software programs, Analog and WebTrends. Analog is freeware,
and WebTrends is expensive commercial software costing $500-
750.
On Jun. 9, Palmer will introduce Summary, a $50 shareware
program available for both PC's and Mac's. Although inexpensive,
Summary is loaded with features and generates literally hundreds of
different reports. As Palmer will show, Summary can save hundreds
of dollars in software costs and keep you on target with your Web
Site goals
Summary detects if someone is trying to "hijack" your site, what
"bandwidth" is needed to host your own site, and if your server was
down during the month. Most importantly, hundreds of report
options are available through Summary, taking the guesswork out of
analysis of a Web Site. The software even translates those cryptic
I.P. numbers into actual business names.
Palmer says, "As visitors check out your Web Site, your server
electronically and quietly collects information about who they are,
what they are looking at and where they came from. Web statistics
are collected at virtually every Web Site. They disclose the facts
about what is really going on."
Start out 2001 with a bang by learning what's lurking in your log
file! Attend the $15.00 pre-meeting seminar, 5 - 6:30 p.m., Jan. 9,
2001. Register online at: http://www.mn-entrepreneurs.org.
Attend both the pre-meeting seminar and 7
p.m. meeting at one price - $25.00 or attend either for $15.00.
Advanced Web Site Analysis Using "Summary" requires pre-
registration and $15.00 door fee.
or call 952-922-1136
5-6:30 p.m.
Pre-meeting Seminar
Ed Palmer of SolarAttic, Inc. presents -
Advanced Web Site Analysis Using "Summary"
St. Thomas University, 10th & LaSalle
7 p.m. MEI Monthly Meeting
Featured Speaker Matt Noah of NetSuds presents -
"Stepping Into the Fire: So You Want to Be An Entrepreneur?"
St. Thomas University, 10th & LaSalle
Featured Speaker Brian Shiffman of Integrated Power Solutions
presents - "Structuring Your Business Plan and Getting Financing"
St. Thomas University, 10th & LaSalle
Featured Speaker Steve Knight of Ziga Systems, Inc.
St. Thomas University, 10th & LaSalle
Restaurant, Double Tree Park Place Hotel in St. Louis Park.
Call Bill Lehnertz @ 621-948-1105
After 20 years, MEI will switch from the first Tuesday to the
second Tuesday, starting January 2001. Calendar conflicts
including July 4th, Labor Day and elections have adversely affected
attendance over the years. A survey of members and guests
resulted in 60 per cent voting to change to the second Tuesday of
each month. Mark your 2001 calendars to reflect this important
change!
Just days before headlines screamed Best Buy's $685 million
purchase of Musicland, Dick Schulze stood before the Minnesota
Entrepreneurs and accepted the 2000 Entrepreneur of the Year
award. There were no hints dropped by the CEO and founder of
the $16 billion company about the imminent deal. Instead, Schulze
concentrated on talking about "Retailing in the New Millennium."
"Staying ahead of the game is increasingly tough" Schulze
revealed, citing a history of squeezing out 530 competitors in order
to reach the current count of 420 Best Buy stores in 40 states.
Remarkably, Best Buy is the number one seller of consumer
electronics, home computers, and music/movie software.
Schulze attributes his success to the motto: "Think Revolution,
Pursue Evolution."Keeping his eye on his customers rather than on
his competitors led Schulze to change the way Best Buy did
business. He was the first to drop sales commissions for his sales
force and to open the architecture so that customers could freely
browse. Doing so allowed him to maintain value pricing and rely on
high volume sales. "This strategy is 12 years old and has been
refined four different times" said Schulze.
His second winning strategy is, "Retailers must become brands
so the consumer automatically has an emotional connection and
bond."Branding, to Schulze, occurs as customers associate the
Best Buy brand with the fun of buying technical and entertainment
products.
The MEI audience didn't need advance notice of the Musicland
buyout as proof that Schulze has secured Best Buy's future. The
"$10 million" tab spent to create their Web Site makes them a
powerhouse e-commerce retailer, as evidenced by the New York
Times‚ announcement that http://www.bestbuy.comis now the
fourth most visited site.