Vol 1 Issue 3 November 2006
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The Bard Center’s Entrepreneur in Residence, Dave O’Brien, is maintaining a very active profile since he began over 4 months ago. Recently, his main area of focus has been to continue advising entrepreneurs on their existing businesses and new entrepreneurs on their business concepts. The total number of companies/concepts reviewed to date is 29.
The following snapshot represents the status of current Bard Center based companies:
Companies generating revenue: 11
Estimated 2006 revenue: $2.3M
# Companies profitable & tax paying: 7
Total local area employment: (all companies) 48
In the last 2 months Dave has consulted with approximately 20 entrepreneurs in the following stages of growth:
Stage |
Number of Companies |
Concept Review |
6 |
Pre-Launch |
5 |
Launch |
4 |
Move to Profitability |
1 |
Next Stage Growth |
3 |
Wind Down |
1 |
Total |
20 |
“Concept reviews are an initial vetting of an idea or process,” says Dave. “As the entrepreneur moves into the pre-launch stage we are generally meeting every week or two weeks; we review ongoing plans, financing needs and launch strategy. Once the firm moves into the ‘launch’ phase the efforts focus on market expansion and acquiring and retaining customers. The next stage is critical and I have dubbed it ‘move to profitability’. This is where many companies succeed or fail. Success depends on executing their plan, changing to market conditions, and in some cases good fortune.”
The final two stages include the next stage growth where small profitable companies are looking to grow market/geographic share and proactively manage the challenges that will face them. And finally, the wind down stage is the closure or the reduction of active entrepreneur involvement. In this case the entrepreneur has chosen to allow their product to be sold through a distribution channel with little or no sales or support from their firm.
Dave has established an excellent process in working with the Bard Center’s young companies. Each one is better prepared to execute their business plan and enhance their prospect for growth.
The course, titled Leadership in New Ventures, and Jan Rutherford, Senior VP for Corporate Development for WellDyne, a healthcare holding company focused on entrepreneurial growth, have really opened an exciting new opportunity for the Bard Center.
Say hello to Jim Schoedinger, the Advisory Council’s newest member, who is not afraid to describe his vision for the Bard Center: “Creating...
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Ken graduated with his MBA from UC Denver with a track in entrepreneurship from the Bard Center in December of 2005. He founded Prime-Core, Inc.
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The mission of the Entrepreneurship Council is to provide programs and services that build a mutually beneficial and enduring relationship among alumni, the Bard Center, and their communities.
Happenings & Announcements
Bioscience Internship, Venture Capital Seminar, New Advisory Council Members, Previous Events, Fall Guest Speakers