How long should I hang onto the dream? See blog: xelerator.blogspot.com

Technology entrepreneurs should take this 1-Minute Reality Checklist. It might just save your business plan. Read the blog entry here:  http://xelerator.blogspot.com

Xelerator facilitated a workshop for a group of entrepreneurs who are participated in the ESA Galileo Application Days in Brussels, Belgium on March 3-5th, 2010. These selected companies are part of the ESA (European Space Agency) incubators and have developed applications and technologies for the Galileo Satellite program.

(Oslo, Nov. 11, 2009)

Rick Salmon has been appointed as President of the Selection Jury for 2009 European Venture Contest Finals which will be held on December 14th and 15th, 2009 in Barcelona. The Jury will consist of 45 distinguished members representing the Venture Capital community in Europe.  Over 700 startup companies have competed in the contest this year and the top 25 have been chosen to go to the finals in Barcelona.

Jury members will select a winner in each of the 5 categories of cleantech, life sciences, new media, software and electronics. From these top 5 companies, 1 overall winner will be selected and awarded a cash prize of EU 90,000.  The companies will be evaluated on the basis of 7 factors (including business development, investment potential, team and presentation, etc.).

Rick Salmon competed in the 2008 European Venture Contest as CEO of company RPR Technologies AS (Norway) and was selected as winner of the Cleantech category. This year, he has been asked to be the President of the Jury in order to represent and promote the entrepreneur viewpoint and to acknowledge his work with empowering European entrepreneurs.

For more information about the Eurecan European Venture Contest, see:  www.e-unlimited.com

Workshop Title:    Accelerated Funding for Startup Companies

Workshop Background:    Most new startup companies that are seeking funding make many simple and easily remedied mistakes. It is not that they fail to see these things, it is just that they lack experience with the process. Xelerator has vast experience and a proven track record in helping small startup companies get the funding and resources that they need to succeed. We have also made a lot of mistakes, which is part of the game when you take chances and are true entrepreneurs. You can avoid these headache and learn from our mistakes. In this 3 hour workshop, Xelerator will present 50 specific things you can quickly do with your startup company to dramatically improve your chances of getting funding. Increasing your odds.

• Find out more about this by attending a free webinar on either April 16th or April 17th or register now for this 3 hour intensive workshop / seminar.

Workshop Format:     This workshop is a live, interactive, online workshop. The workshop facilitator (Rick Salmon) will present the theory and background information in a webinar format. Attendees can sit at their own desks locally and be able to view the presentations over the web. They will be able to ask questions, interact with the course leaders and with the other entrepreneurs attending.  Attendees will be given assignments and specific tasks to work on and then to present to the group. This is a highly interactive learning experience and will deliver specific results for the attendees.  Full workshop documentation and follow-up will be provided.

• Register for the workshop before April 15th and save €25.00 off registration fee.
• Register for 2 or more workshops at the same time and get 15% discount.

Workshop Title:   Accelerated Sales for Startup Companies

Workshop Background:    One of the first things an investor will ask is “what are your current sales revenues?”. After all, they are good businessmen and they want to know if you are also a good businessman. The faster that you can generate sales from the products and services of your startup company, the faster you will prove that your actual business model works. This is one of the key things that investors will look for, and something that will dramatically increase your chances of getting investor funding. If there are real, live customers out there who are willing to pay money for your products and services, then funding your business is inherently less risky.  Xelerator can show you how to do this quickly, and we can work together to get you results in a very short amount of time.

• Find out more about this by attending a free webinar on either April 16th or April 17th or register now for this 3 hour intensive workshop / seminar.

Workshop Format:     This workshop is a live, interactive, online workshop. The workshop facilitator (Rick Salmon) will present the theory and background information in a webinar format. Attendees can sit at their own desks locally and be able to view the presentations over the web. They will be able to ask questions, interact with the course leaders and with the other entrepreneurs attending.  Attendees will be given assignments and specific tasks to work on and then to present to the group. This is a highly interactive learning experience and will deliver specific results for the attendees.  Full workshop documentation and follow-up will be provided.

• Register for the workshop before April 15th and save €25.00 off registration fee.
• Register for 2 or more workshops at the same time and get 15% discount.

Workshop Title:    Accelerated Marketing for Startup Companies

Workshop Background:     There are traditional and non-traditional methods that will make customers aware of your startup products and services.  If you have an army of 1000 soldiers, you would do battle in one way. If you only have 3 soldiers and scarce resources, you must fight differently.  With a small startup, you must substitute using your brains for the cash that your competitors have. Xelerator can teach you fast and effective sales techniques and Guerrilla Marketing methods that are designed specifically for small businesses and startups. They are inexpensive and rapid techniques, but they will bring customers to you quickly. This is not difficult, and probably not what they teach at Harvard Business School, but he results will surprise you.

• Find out more about this by attending a free webinar on either April 16th or April 17th or register now for this 3 hour intensive workshop / seminar.

Workshop Format:     This workshop is a live, interactive, online workshop. The workshop facilitator (Rick Salmon) will present the theory and background information in a webinar format. Attendees can sit at their own desks locally and be able to view the presentations over the web. They will be able to ask questions, interact with the course leaders and with the other entrepreneurs attending.  Attendees will be given assignments and specific tasks to work on and then to present to the group. This is a highly interactive learning experience and will deliver specific results for the attendees.  Full workshop documentation and follow-up will be provided.

• Register for the workshop before April 15th and save €25.00 off registration fee.
• Register for 2 or more workshops at the same time and get 15% discount.

RPR Technologies has been an Xelerator client for the past 3 years. In 2006 Rick Salmon took over as CEO for RPR in order to help the founders get their patented prototype on the market. The first thing Xelerator did was to assemble a professional Board of Directors and to raise the initial seed financing needed to launch the company. By the end of 2006 the first products were shipped and in 2007 the company passed breakeven. Today RPR employs 6 people, has established sales channels in N.America and W.Europe and has been publically recognized as an exciting and growing young Norwegian business. As part of a strategy to position the company with potential investors, RPR entered a series of venture competitons in August 2008. After winning both “Best Presentation” and “Best Elevator Pitch” awards in the qualifying rounds, RPR qualified for the finals of the EURECAN EUROPEAN VENTURE CONTEST and went on to win the award in the Cleantech category. Note that this is a strategy that Xelerator would recommend for all startup companies. If you are interested in learning more about how to succeed with this type of tactic, contact Xelerator today.

If you listen too much to the financial news these days, you can put yourself into a deep clinical depression within about 15 minutes. Most of the experts are predicting global slowdowns and catastrophe scenarios, but how do you adopt a strategy to keep your small startup business afloat? Is it possible to even thrive in a recession?

To accelerate your startup during a recession you must have a
STRATEGY for SURVIVAL and GROWTH.

Here are four tips:

1. Don’t lose your belief and your will to win, even though most others around you are losing theirs… No other piece of advice is more valuable. Guard your enthusiasm and optimism carefully. This is what makes you special as an entrepreneur. Do not let anyone diminish this! The great news is that most people will give in to negative thoughts and walk around with a cloud hanging over their heads. You, on the other hand, will refuse to let this current (temporary) situation affect you and you will have the sunshine on your face at all times. Prospects and customers will notice this and be drawn to you.

2. Have the intellectual agility to quickly adapt… to modify your product or services, to repackage, rename or even reinvent what you are offering to harmonize with the dominant fears and beliefs of the times. During the Great Depression of the 1930s, companies that sold men’s neckties actually increased their sales. When consumers had less money, they put off buying a new suit, but invested in a new tie instead. Have you thought through how your business could adapt to actually benefit from the current situation? Can you change your message or packaging in order to reflect this?

3. Redirect your efforts at better, more likely buyers… (i.e., focus on those buyers that are the least or the last to be effected by the recession). We all have different types of customers. Which of your customers will be less affected by a recession? Look at public (government) spending. Take a look at the companies that are still hiring new employees today. Who are they? What is it about them that makes them less or last affected by the recession? There are clues everywhere. Are you looking carefully enough and are you flexible enough to take advantage of this quickly?

4. Work harder… There is no replacement for this. During tough times, you just have to work harder than the rest. You must be more diligent and follow-up more closely in order to get the optimal value out of every customer lead you get. Keep your optimism (as in point 1), work harder and you will be surprised that even during tough economic times you will survive and even thrive.

Remember that during the biggest crises, come the biggest opportunities.

Team up with others who can help you! Want to discuss this and other issues affecting startup companies with other experienced entrepreneurs? Attend one of our free monthly webinars. See www.xelerator.com for dates and times.

[1] · Frustrated with the news about the economy? · Should I quit my dream and get a safe job at a big company? · Is it possible for a startup company to succeed in the current situation?
Read this first. Entrepreneurs can succeed even during rough economic times.
I started my day today by reading the local business newspaper Dagens Næringsliv. I ended up in the user forum section where I saw the following post: ________________________________________________ Norsk pop duo søker investor Dagens Næringsliv Forum 22.09.2008 Hansen/Randow – søker investor ! De hadde tdligere i år en hit med låten “stay”,som ble produsert av stjerneprodusenten Tommy Denander (jobbet med Eric Clapton Toto ,Westlife o.l) -og de vil nå starte et eget selskap som tar seg av alle hansen/randow`s aktiviteter (cd utgivelser .konserter o.l). De holder på med cd innspilling i Stockholm om dagen med Tommy Denander ,og deres neste singel “frustrated” ble utgitt idag .Video til denne låten ble spilt inn på Svalbard . Duoen jobber også medd mulighet for utgivelse utenfor Norge .www.myspace.com/hansenrandow ________________________________________________
For those of you who do not read Norwegian, it is titled “Norwegian pop music duo seeks investors” and goes on to tell that 2 young pop artists are looking for investors for their new company that will manage their future concerts and CDs. It was also reported that their new single, which will be released today is titled “Frustrated”. OK, I could not help but laugh, and I am not surprised they are frustrated. Many young entrepreneurs are frusrated and also scared due to the recent economic turn of events.
Entrepreneurs are not just frustrated, they are scared Raising capital will not get any easier during the next year. As Investors batten down the hatches and hunker down for the storm, they will have less liquid capital and be less willing to take on new high-risk projects. This is not great news for small startup entrepreneurs in early stage companies, but economic slow-downs do not have to be impentrable barriers for new enterprises. Nonetheless, anytime is the right time to launch a venture if the opportunity is right and the entrepreneur has assessed the situation correctly. If an entrepreneur is going to launch a company based on solving a customer need that is vague or not clearly defined, then it is always risky, regardless of the state of the economy. Starting a new business always involves risk, and as we all know roughly 50% of all startups fail within the first 5 years. A tough economy can make a launch even more difficult as loan standards will be tougher and consumer spending weaker. But depending on the nature of your business and location, you might find cost reductions. For example, your suppliers may offer you better deals, rents may be lower, and workers may be more willing to work less. When times are rough, people don’t hold out for higher salaries. You can probably hire better people more cheaply now than when the economy is cooking.
Actually benefiting from a bad economy? You have to balance all the factors to evaluate whether the current business environment will support your new venture. It may even work in your favor. First you have to ask yourself if you have the stomach for high risk and the commitment that you will need as an entrepreneur, then put your good business skills to work. Make sure to shape your opportunity to have a strong business model and a rapid revenue model that accurately assesses costs and the price the market is willing to bear. Focus on a carefully selected, small and manageable niche market. Communicate a solid and unique value proposition that is completely focused on solving specific problems.
During periods of economic downturn, it’s not necessarily safer to be with the big companies, but that’s the perception. By being small and agile the company is in some respects even safer. The big companies suddenly don’t take any risks and retrench and bunker down, whereas the small start-ups are out reinventing new models.
Crisis brings opportunity During periods of economic downturn, consumers change their habits and strategies. For example, consumers use more time and effor to search for better pricing or higher value. Can you offer a product or service that tailors to this need? In tough times, companies will often postpone the purchase of new IT systems and rather invest money in re-vamping the older systems they have. Can your startup take advantage of this? Try to think clearly about the consequences of the economy and how it will affect your customers. If you are clever enough to have an open mind and to keep looking, you may be surprised with what you uncover. In a crisis things change rapidly, and this presents huge opportunities for creative entrepreneurs. If you have the idea and you have a vision for it, don’t wait for the conditions to be perfect or you’ll probably end up waiting forever. There is business out there; it’s just a question of who’s going to get it.
Free webinar for Startup companies You are invited to a free, online webinar (telephone & web) on October 15th at 10:00 where a number of startup entrepreneurs (primarily from Norway) will discuss this and other issues. Join us to share your ideas and to learn from what others are doing. You can find more information about this at www.xelerator.com. Sign up today. Space is limited.
1: http://2.bp.blogspot.com/_Fjjn1jOJ5u8/SNn9O-Ynq7I/AAAAAAAAADY/V2S_FAs3NfI/s1 600-h/quit.jpg