June 2002 Newsletter
worldwide manufacturing operation, while continuing to do what you
love to do? Robert Fayfield, founder and CEO of Banner
Engineeringwill explain how he managed to do just that!
engineering firm building controls panels. Six tough years later,
Banner made a commitment to become and innovator in photoelectric
sensing. From this commitment came the national leader in sensor
technology.
consecutive independent studies of engineers’ purchasing
preferences. This preference has led o leading market share results.
Banner sells more photoelectric sensors and ultrasonic proximity
sensors than any other company in the U.S. market. Today, Banner
is the largest, most capable and most preferred sensor company with
the broadest line of products and solutions in the nation. Banner is a
Global Enterprise with world-class manufacturing, and sales,
distribution and service in every major country worldwide.
of the Yearin the manufacturing category. According to Ernst &
Young, Mr. Fayfield and Banner have pushed their industry to the
next level of innovation. Bob is still an active engineer and product
designer with hundreds of sensing innovations and numerous
patents.
6:00 PM - Netweaking™ by Dr. Slava Thaler
7:15 PM – Robert Fayfield, Founder & CEO, Banner Engineering
Tweaking. Through this facilitated Netweaking™ seminar you will:
ß
Create meaningful networking encounters and connections.
results down were powerful!”- BL, Participant in Minneapolis
Participant in Minneapolis
at 6:00 PM!
achieve personal, professional and executive success. He currently
accomplishes this by providing success coaching and training
through ReachApex, Inc. ( www.reachapex.com).
program from 6:00 – 9:00 PM at the Minnesota Business Academy
Wabasha & Exchange Streets - Downtown St. Paul.
begins at 7:15 PM
Tuesday, August 13, 2002
Tuesday, September 10, 2002
Tuesday, October 8, 2002
Tuesday, November 12, 2002
Tuesday, December 10, 2002
Registration & Informal Networking
Dr. Slava Thaler, ReachApex, Inc., willpresent Netweaking™.
MEI Announcements
Robert Fayfield, Founder & CEO, Banner Engineering
Post Meeting:You are invited to join us forLate Night Networking
at Patrick McGovern’s Pub & Restaurant at 225 W. 7th Street in St.
Paul.
Tuesday of every
month, starting with Registration and Informal networking at 5:30
PM, at the Minnesota Business Academy.
Tuesday of
every monthat 4:00 PM. Call 651-687-0272 for Board Meeting
location. Board Meetings are open to MEI Members only.
membership fees!
meeting seminar vs. the monthly meeting presentation. Your Board
of Directors has taken the initiative to streamline this process!
Attend both meetings for the price of one! The educational
seminar and the monthly presentation and membership meeting will
the door for non-members. MEI Members will be able to attend both
sessions at no charge, as part of their membership dues.
Meeting times will change slightly. We will
schedule the educational seminar to begin at 6:00 PM, followed by
the keynote presenter and monthly program at 7:00 PM. Registration
and informal networking will start at 5:30 PM. So, keep this in mind:
6:00—9:00 PM Monthly Program: Educational Seminar, Keynote
presentation, Networking opportunities
LAST FEW DAYS!
Membership dues will increase to
$120/year. This offers you 12 months of programming for only $10 a
month! You will no longer have to pay for the educational seminars
separately.
11th!
So, if you’ve considered joining or want to renew, do it now for only
$79. After June 12th, the dues will be $120—still a bargain,
considering both programs are now rolled into one package—where
else can you get 3 hours of camaraderie, inspiration and education
for only $10???
President, SolarAttic, Inc.
763-441-3440ceo@solarattic.com
Principal, Uniquity Consulting
651-755-4400mboettner@attbu.net
CEO & President, Araish, Inc.
952-974-3700 nudratqidwai@yahoo.com
Minnesota Business Academy
651-256-0488epaxton@mnba.org
President, Pathfinder Innovation, Inc.
763-797-9900info@innovationmall.com
Betz & Associates
952-401-8186joeb1993@aol.com
952-546-8708pmbcpa@goldengate.com
Christy James & Associates
612-963-0467cj@vezone.com
612-819-6497mkannankutty@yahoo.com
Retired Founder, Novus Inc.
952-920-6855
Principal, TLC Business Services
952-948-1105bill@tlcfinancial.com
CEO, EntrepreneursForHire, LLC
612-374-0004
eric@entrepreneursforhire.com
Director of Consulting, ReachApex, Inc.
612-242-4536sthaler@ReachApex.com
Attorney, Furber, Timmer and Zahn
612-573-3690rzahn@e-lawfirm.com
651-687-0272fax: 651-681-9982
kathy@mn-entrepreneurs.org
July is MEI’s VOLUNTEER RECRUITMENT MONTH
Volunteer Your Talents!
Join a Committee or Serve on the Board of Directors!
joining one of these committees:
Development (Fundraising) - Maria Kannankutty, Chair
Education—Christy James, Chair
Finance—Slava Thaler, Chair
Legal Advisory—Roger Zahn, Chair
Marketing—Eric Strauss, Chair
Membership—Bill Lehnertz, Chair
Program—(*Chairperson opening)
Technology—Joe Betz, Chair
Board Members or Committee Chairpersons.
Christy James, Chairperson
MEI’s FUTURE PLANS:
unveiled in September.
your business:writing a business plan, marketing, obtaining funding,
and so on!
Maria Kannankutty, Chairperson
With our
SPONSORSHIP OPPORTUNITIES
Be listed on the MEI we site. For further details, contact Maria!
Bill Lehnertz, Chairperson
Every new and renewing member will
get 2 certificates to bring a prospective member to a meeting to check
us out! We will track referrals and recognize you for bringing in any
new members!
Eric Strauss, Chairperson
on
Profits Journal subscriptions (print magazine or on-line news service)
as well as a discount at any future Profits Journal events. Email your
request for additional information to: info@mn-entrepreneurs.org and
association has entered
into an agreement with MEI to offer a $5 discount on meeting fees.
For more information and to register: Contact Independent Business
Professionals: 612-741-5418 or visit: www.i-b-p.org
University of St. Thomas/Minneapolis, Room 250, 1000 La Salle Ave.
$15 advance registration for Minnesota Entrepreneurs members, $20
at the door
Joe Betz, Chairperson
ßOn-line Roster of Members (for members only) accessible with
a password. We hope to include information about the type of
business each member is involved in, with search capabilities
by business category, last name and company name.
ßMonthly newsletters
ßResource Directory – a comprehensive list of resources for
entrepreneurs and start-ups in Minnesota.
please direct them to:
ßJoe Betz, MEI Director, Technology Committee Chair
ßEric Strauss, MEI Director, Marketing Committee Chair
Real Entrepreneurs
Vs. Rich Dad Secrets
Are small business owners entrepreneurs?
I have heard the question debated many
times. When the Minnesota Entrepreneurs
board of directors met for a strategic
planning session, the question came up again for discussion. Isn’t
every small business owner an entrepreneur? If not, why? What are
the distinctions, if any?
Bagel opened the St. Paul Bagel Shoppe in 1975 because Mrs. Bagel
liked to bake bagels. They opened in St. Paul because that is where
they lived and planned to stay for the rest of their lives. As simple
proprietors, they opened their doors M-F from 10 am to 6 pm and are
very satisfied with their business. They take off and relax on the
weekends. They have no intention of growing their business. With a
couple of part time employees, their primary goal is to simply have
fun making bagels. If they both died at the same time, their business
most likely dies since they are the business from a legal and sales
perspective. Are they entrepreneurs? The answer is no.
Bagel dreamed and thought between themselves: “Every city and
small town in the USA should have our bagel shoppe. Maybe even
the entire world. Our bagels are too good to just keep them in St.
Paul.”They not only dreamed about the possibility of franchising
their bagel shoppe, they actively planned how to go about a very
huge expansion of the business. They had some big dreams and
see why that should stop their expansion. The term “bootstrapping”
kept their creativity going and they tried to connect the expansion
dots without outside capital even while they searched for it. They
opened their business 9-9 six days a week and on the seventh 9-6.
They hired a manager to run the business when they weren’t
available. Instead of being proprietors, they incorporated their
business as a C corporation called “Ma’s Home Bagels, Inc.”If they
both died, the business continues on because it is a separate legal
entity. Are they entrepreneurs? The answer is yes.
to “be the primary resource for growth-oriented entrepreneurs” — we
attempted to make this distinction and capture the essence of this
dichotomy. We thought the term “growth-oriented” was appropriate
and was definitely a characteristic of all REAL entrepreneurs.
the second, they are “working ON the business.”This is a huge
distinction in entrepreneurism and should not be overlooked or
ignored. The real entrepreneur will not shy away from the “risk”
involved in starting or expanding a business. Yet, a lot of small
business people do exactly that. The real entrepreneur will also
attempt to work ON the business instead of in it. This means he/she
will set up systems in which another individual could simply take over
when the time is right. It doesn’t mean they don’t have to work IN the
business. They do. In fact, they may work some very long hours for
a very long time before they can make the transition of passing the
system along to another. Michael Gerber in his “E-Myth” book and
tape seminar speaks directly to this issue. I highly recommend them.
tape seminar entitled “Rich Dad Secrets.”Kiyosaki points out the
following matrix for consideration in generating wealth. The
quadrants are identified as E.B.S.I. E and S are on the left side and
B and I are on the right.
simple. If you want to generate wealth, you need to be operating in
the Business (B) and Investor (I) quadrants of his matrix. You cannot
generate wealth just being an employee or even by just being self-
employed. REAL entrepreneurs understand the subtle differences. I
highly recommend Kiyosaki’s tapes if you want to understand this
matrix further. Both the Gerber and Kiyosaki seminars on tape can
be found at Nightingale-Conant.
resource” for “your growth-oriented” business. There is no other
organization within the State of Minnesota that provides the same
kind of education, inspiration and networking for entrepreneurs that
we do. Add Gerber’s and Kiyosaki’s business theories to your
entrepreneurial toolbox. They help us all understand what a real
entrepreneur is.
an entrepreneur. Stay tuned.
THE MINNESOTA ENTREPRENEURS
.
We are in the process of changing service providers for our web site,
and will be developing a “new look.”
versionof the newsletter, with all other months’ news items sent via
email.
will make exceptions for you. Call Kathy at 651-687-0272.
If you HAVE NOT been receiving regular monthly emails,
that means that we do not have your email address (and you
wouldn’t be reading this email!!!). To be included, please send
an email with your name, company, and phone number to:
Kathy@mn-entrepreneurs.org.
your membership in The Minnesota Entrepreneurs. Please take a
moment to seriously think about joining are organization right now for
only $79. This offer has been extended to our meeting NEXT
TUESDAY. After that, membership will be $120 per year.
membership for a full year from its current expiration date at the
current rate. We will accept your new membership or extension up to
the end of the meeting next Tuesday. TAKE ACTION NOW TO GET
IN ON THIS SAVINGS.
