March 2002 Newsletter
the Year for the Upper Midwest Region, Shares
Lessons Learned the Hard Way
a single newspaper and turn it into
a $100 million media empire? Join
us on March 12th, as Jim Dolan,
chairman, president and chief
executive officer of Dolan Media
Company, will share lessons he’s
learned while building his business.
reporter for The Daily Oklahoman
more than thirty years ago. Since
then, his career has included a
variety of positions with News
Corp., and executive-level
positions with Keycom Electronic Publishing, Inc., Kummerfeld
Associates, Inc., The Sun Times Company, and The Jordan Group,
Inc.
awards for reporting, writing, editing and design.
firm Cherry Tree Investments. The only criteria were that it be an
operation that could easily be scaled into a larger company. Dolan
evaluated 12 opportunities and settled on purchasing Finance and
Commercein 1993. He spent the next six months learning the paper
from the inside out and developing ideas to grow his business.
media serving business professionals. The company publishes
Finance and Commerce, the St. Paul Legal Ledger, CityBusiness
New Orleansand more than a dozen other daily and weekly business
journals. Other businesses owned by Dolan Media Company include
Banko, Clickdata, Hogan Information Services, Acollaid, Identity
Guardian, U.S. Corporate Services, and Henry M. Greene &
Associates.
Informal Networking
(Refreshments available)
Jim Dolan
Free to MEI members;
$15 for non-members.
Pre-Meeting Seminar
5:30 - 6:30 p.m. - $15 per person
James J. Hill Reference Library in Saint Paul, MN. The James J. Hill
Reference Library is the nation’s premier source of business
information and houses a world-class collection of practical business
resources. Prior to joining the Library, Richter was a senior director of
e-business marketing for Digital River, and before that was an
account group director at Shandwick Public Relations.
business strategy, and having an 'informed strategy' for your
business. Creating your business and marketing plans based on
current industry, market, customer and competitive data is key to
available only through expensive subscriptions, and much of the good
information can't be easily found through the 'free' Internet.
Entrepreneurs that know how to find the business information that
matters, or better yet, know who to ask for help, are the ones
positioning themselves for long-term success."
SPECIAL OFFER
( http://www.reachapex.com)to provide one more benefit for
members!
two free months of professional coaching, valued at $790.00!
already a member, simply pre-register on-line or via phone by March
time.
Paul writes an interesting bit of information
for every entrepreneur in the Bible at 2
Corinthians 1:17. The New Century
version reads: “Do you think that I made
these plans without really meaning it? Or maybe you think I make
plans as the world does, so that I say yes, yes and at the same time
no, no.”Other versions say: “Do you think I say yes when I really
mean no?”
who will play this game with you. They will say yes-yes and really
mean no-no. Or, they will say yes and at the same time be thinking
to themselves: “I’ll ride this horse until something better comes
along.”
struggle when a knight riding a white horse appears with all the
solutions you need. However, we are talking about real commitment
here and your first clue that you may not have it is this: the person
you are dealing with has never really walked in the shoes you are
now walking in.
is cheap! Especially from those who have never walked in an
“entrepreneurial struggle” themselves. It takes a strong faith and
fortitude to make it as an entrepreneur. Paul reminds us that it also
takes sincere and real commitment for the task. He also indicates
that it is typical for people to say one thing and really mean
something else. Maybe the opposite.
I had the opportunity to make two 15-minute pitches
for capital in Houston at an Energy Venture Fair. I am seeking $2.5
Million in expansion capital. Last month’s pre-meeting speaker was
entrepreneurs for such a task. If you missed her presentation, you
should know that “commitment” was a key point she covered. As an
example for you, my introduction at the Energy Fair is shown below.
It ran 2 min 45 secs in length. The balance of my time covered 15
slides. At the end, I had one minute for questions.
easy to understand technology that makes use of the solar energy on
every roof and in every attic worldwide. If you put your head in a
Houston attic today, you will find heat energy. Soon you’ll find a large
amount of energy. We know how to use this energy and we can save
consumers and industry a lot of money.
on the Tartar guided missile system for 7 years. It continued in the
computer industry where I spent 7 years in quality engineering.
Before founding SolarAttic, I held the position of Director of Quality in
a $70 Million manufacturing operation. I also have 35 years of
entrepreneurial experience and I am the President of The Minnesota
Entrepreneurs. I started by shining shoes outside of several bars in
South Minneapolis at the age of seven.
I believe it is a call from God. The most frequent question I am asked
is how have I survived. Instead, it should be how have I
accomplished so much with such limited resources. Both answers
are by the Grace of God.
my house four times and begged money from friends, family and
associates for SolarAttic. I am the guy with the vision and I am so
convinced that SolarAttic will succeed that I told some friends this
month to invest an additional twenty thousand dollars. Ten thousand
was put on credit cards and five thousand came from a Nanny. If my
mother and father were alive today, I would tell them to invest into
SolarAttic.
begins when you learn you cannot pay the bills and it means working
nights and weekends to offset the money you do not have. As you
look at investment opportunities, make sure you find a management
team that will tell the truth and have the stomach to stay the course
through tough and lean times. Investing in a good management team
is the number one reason you should invest in SolarAttic.
foreign patents and I sold our products into 34 states. I finished our
development work and field-tested our technology. We now seek to
launch nationwide distribution and sales. I’m searching for Angels
who will invest a minimum of twenty-five thousand dollars and up to
$2.5 Million dollars to bring this exciting technology to the world.
what I had to say. One entity is Ameren Energy who expressed
interest in investing in SolarAttic. If you get into such a situation, you
need to make an impact within the first 180 seconds. This is best
done by simply telling your story. So, how did I do in Houston during
the first three minutes? If you need help in this area, get a hold of
Joan at Spoken Impact. The depth of her seminar impressed me.
American culture. However, for the entrepreneur raising funds it has
always carried some significant weight with investors.
presentation, you missed a laundry list of important factors to success
from an observer of entrepreneurs. Sven says: “I myself am not an
entrepreneur. I don’t have the courage.”However, Sven spent years
working with entrepreneurs raising money as an investment banker
and knows what it takes for the entrepreneur to succeed. Character
attributes were notable items on his list of success factors.
meaning of commitment. I have never forgot what he said: “Ed, real
commitment means NO ALTERNATIVES.” Both Robert and Paul are
This matters to investors and they will sniff out real commitment very
fast.
MEI MONTHLY MEETING:
Pre-meeting seminar features Sam Richter,
President of the James J. Hill Group. The James J. Hill Library is
launching a new online search capability & has a wealth of
information that the entrepreneur can utilize to grow their business.
MEI Monthly Meeting – Our featured speaker is Jim Dolan,
Chairman, President & CEO, Dolan Media Company. Ernst &
Young’s Entrepreneur of the Year (Upper Midwest Region) for 2001.
Jim Dolan built Dolan Media Company into a nearly $100 million
operation following this simple practice: keep trying different angles
until one works. Join us as Jim shares his “lessons learned the hard
way.”
Late Nite Networking Patrick McGovern’s Pub &
Restaurant at 225 W. 7th Street in St. Paul. Directions:Over one
block and down about five blocks just past the Xcel Energy Center
and diagonal from the Seven Corner’s Hardware.
SMALL BUSINESS
Entrepreneurs Association”
[MHEA] is presenting its annual
small business expo from 9 am to
6 pm at the Zuhrah Shrine Center, 2540 Park Avenue, Minneapolis.
Further information can be obtained at http://www.mnhomebiz.orgor
by email to Ron Wacks, President at rpwacks@earthlink.net or Curtis
Stanley, VP at web-net2@ix.netcom.com. You can also call (612)
721-4249. The Minnesota Entrepreneurs will have a booth at this
Expo. Stop by and say hello. Both Matt and I expect to be there.
:THIRD THURSDAY BREAKFAST GROUP
Tree Park Place Hotel in St. Louis Park. Call Bill Lehnertz at 952-948-
1105.
IBP Meeting [$5 discount for MEI Members]
featuring Steve Brewer of Eureka Marketing
Place: University of St. Thomas/Minneapolis, Rm 250 1000 La Salle.
Fee: $15 (advance registration) for Minnesota Entrepreneurs, Inc.
members ($20 at the door). To Register: Contact Independent
Business Professionals: 612-741-5418 or visit: http://www.i-b-p.org
David Kristal, CEO, Embers America.
father Henry's restaurant chain, from the brink of collapse into a fast-
growing franchisor and service provider to independent restaurants.
The company now has a healthy cash flow. Learn how David Kristal
came up with this winning strategy.
Technology Services Firm in a Recessionary Market."
featuring Robin Neidorf of Electric Muse as the speaker:
Time: 7:30 AM pre-meeting networking; 7:45 AM - 8:45 AM.
Place: University of St. Thomas/Minneapolis, Rm 250, 1000 La Salle.
Fee: $15 (advance registration) for Minnesota Entrepreneurs, Inc.
members ($20 at the door) To Register: Contact Independent
Business Professionals: 612-741-5418 or visit: http://www.i-b-p.org
: STRICTLY BUSINESS EXPO
9, 2002 at the Minneapolis Convention Center.
Business Academy located at Wabasha & Exchange Streets in
Downtown St. Paul. Meeting dates are as follows for 2002.
April 9, 2002
May 14, 2002
June 11, 2002
July 9, 2002
September 10, 2002
October 8, 2002
November 12, 2002
December 10, 2002
for a 40% discount on Profits Journal subscriptions (print magazine or
on-line news service) as well as a discount at any future Profits
info@mn-entrepreneurs.organd we will forward your inquiry to the
The Independent Business Professionals
association has entered into an agreement with MEI to offer a $5
discount on meeting fees. See above Calendar of Events for
Meeting information.
KCCO Radio (950 AM) is now interviewing our monthly speakers on
their “Entrepreneur of the Week” segment, airing at 6:20 AM on
Tuesdays. Our speakers are featured one week prior to our events.
This is a chance for you to get a “sneak preview” of what is in store
for our monthly keynote presentations!
“We are creating a Point Of Sales program and we are exploring the
current software that is already out there. We'd like to interview or
question small business owners what Point Of Sales software they
are using and what they feel it lacks, so we can put it into our
software. In a quick run down, we are trying to create a superior
product by analyzing information from small business owners what
their current product lacks. Getting real world information and
statistics in order to produce something better :). Thank you very
much for your time.” Sincerely, Jake Jensen & Austin Peters >>
To help these young entrepreneurs, contact epaxton@mnba.org.
MEI has arrangements with MBA to obtain a student intern to assist with our
web site development! Orion is the student currently assigned to this project.
Our goals include the ability to access an on-line membership directory via
password. Stay tuned for further developments.
Twin Cities Business Monthly picked up the story on the legal battle
over the word entrepreneur on pages 15-16 of the March 2002 issue.
February 25th business section in a column by Sherri Cruz.
We are hosting an MEI booth at the Strictly Business Expo on May 8-
9, 2002 at the Minneapolis Convention Center. If you are a member
in good standing, and would like to help staff the booth, please
contact Eric Strauss at 612-374-0004. FREE ADMISSION. Several
three-hour shifts remain open. Contact ERIC ASAP.
(A lot, evidently if your name is Cory Danks!)
“Bread Winners”- Fred Wendt, Autumn Lodge Trading
Company offered 3 sets of bakery product samples as door prizes for
our January meeting. The winners were: Cory Danks, John Borgos,
and Gabrielle Hamen
Slava Thaler of ReachApex
donated 2 months of free professional coaching services at our
February program. The winners were: Cory Danksand Eric Strauss
included in a drawing for a free meeting or one month’s extension of
their membership and the winner was: you guessed it - Cory Danks!
property is located at http://www.ipbookstore.com