EDCO sponsors Dr. Wiltbank at last night's PubTalk.

It constantly amazing me the quality of speakers EDCO (Economic Development for Central Oregon) hosts each month at PubTalk. Last night was no exception.

This is the first time I've heard Dr. Wiltbank speak. His bio is impressive, leading with the fact he is an Associate Professor of Strategic Management for the Atkinson Graduate School of Management at Willamette University, which is one of the finest MBA programs on the west coast. His research focuses on strategy making under uncertainty, particularly as it relates to new venture development. His research on angel investing performance is the first large empirical examination of the outcomes achieved by angel investors in the U.S.

He has published research in top tier academic journals covering topics from top management teams to non-predictive strategies, to formal venture capital practices among angel investors. He is coauthor of the recently released book The Catalyst, based on his research as a Batten Institute Research Fellow with the Darden School at the University of Virginia, detailing how managers in existing companies successfully drive organic revenue growth. Additionally, he serves on the editorial board of the Journal of Business Venturing. He holds a Ph.D. in Strategic Management from the University of Washington, and a degree in Finance and Accounting from Oregon State University.

Dr. Wiltbank is also a partner with Buerk Dale Victor LLC, a growth stage venture capital firm headquartered in Seattle. His experience prior to entering academics includes work in finance and sales for a major electronics manufacturer, strategic marketing for two startup firms, and performing due diligence for dozens of private equity investments.

At Willamette University he teaches courses on New Venture Creation, Strategic Management, and Industry Analysis.

His personalty, approachability and passion for entrepreneurship is infectious. He talks with "the bark on", meaning he doesn't sugar coat for the audience which I enjoy. Last night's presentation focused on advice for entrepreneurs, emphasizing the best source of capital for your business is through sales of your goods and services. He reminded the audience that it is harder and often more distracting to raise money through Angel funds rather than just getting out in the market, creating sales.

If companies need to sell equity, he reminded us about the importance of preperation and screening before making the pitch. Know your audience, meaning know the Angel or Venture fund very well before you go to pitch them. Do you fit into their sight picture?

I took the liberty of gathering Dr. Wiltbank's top links in the event some of you are, like me, interested in what he is reading. Here it is, enjoy:

Dr. Rob Wiltbank's Reading List:

Enterpreneurial Expertise

• Behavioral Theory of the Entrepreneurial Firm
• Designing Organizations that Design Environments
• Marketing in the absence of Markets
• Decision Making by Expert Entrepreneurs

Angel investing

• At the Individual Level: Angel Investing in the U.S
• Prediction and Control in Angel Investing Outcomes
• Venture Capital Practives, Angel Investor Returns             

Organizational Strategy

• Top Management Change in New Ventures
• What to Do Next? The Case for Non-Predictive Strategy
• How Investor Perceptions of CompetitiveStrategy Influence
• the Market Valuation of Publicly Traded Internet Firms

Don't wait. Here are seven reasons to launch a venture today.

Now that you know my belief that starting a company is your best hope of living the life you want, here's the next logical question: When should you get started?

1. You're young.
2. You're miserable at work
3. You're out of work
4. You have no responsibilities
5. You have an incurable obsession
6. You are an "intrapreneur"
7. Do it today

Read the full article here.

Getting Started.

I recently helped a technology start-up, go from an idea scribbled on the back of an envelope to developing the product feature list, often called the Product Backlog. The team is made up of experienced Java and C# programmers. The company plans to focus on mobile applications that live in the cloud and take advantage of the elasticity features the cloud offers.

The initial worry was cost. We're self funding, so we're watching every penny. During this week's kick off meeting I mentioned Microsoft's BizSpark program, they had not heard about it.

Microsoft BizSpark is a global program that helps software startups succeed by giving them access to Microsoft software development tools, connecting them with key industry players, including investors, and providing marketing visibility to help entrepreneurs starting a business. It's a well kept secret, yet as Entrepreneurs we should all know about it and take advantage of the FREE services it offers.

Software

Get immediate access to current full-featured Microsoft development tools, platform technologies, and production licenses of server products (including Windows Azure Platform) for use in developing and bringing to market innovative and interoperable solutions.  For you tech heads, we're talking about a full MSDN subscription just for signing up. No software costs in year one. No borrowing copies of Visual Studio from your friends. Microsoft wants you to develop your new idea using their tools, so take advantage of it!  This is a great way to get your hands on legal copies of Visual Studio Ultimate with MSDN, Windows 7, Microsoft Expression and SQL Server. You can also get specific tools to help you write for Microsoft Mobile, XBox and KINECT.

Windows Azure

Develop and deploy applications to the Windows Azure platform, an Internet-scale cloud computing and services platform hosted in Microsoft data centers. Build, host and scale applications in Microsoft datacenters with no up-front expenses and no long term commitment. This will save you almost $4k alone.

Support

• Receive business development and technical training at highly subsidized costs or in many cases, no costs.
• Receive two technical support incidents per startup. Each incident is managed by Microsoft until they are resolved, no matter how many calls it takes.
• Receive access to MSDN Ultimate managed newsgroups, online library, and so on.
• Get connected to BizSpark Network Partners around the world—incubators, investors, advisors, government agencies, and hosters—that are equally involved and vested in software-fueled innovation and entrepreneurship, and who will provide a wide range of support resources, including expert mentoring.

Other benefits include access to special offers, training and access to their partner network.  Once you've created your company profile on BizSpark, they'll also give you access to their investor network.

Click here to learn more.

...Jim

Steve Blank on Customer Development, with additional comments by Eric Ries.

This is from 2009, but it is still very relevant today.

Steve Blank, founder of E.piphany, author of Four Steps to the Epiphany, and creator of Customer Development methodology (slides). Steve will speak about Speed & Tempo for Startups, a discussion about decision-making.

Steven Gary Blank is a retired serial entrepreneur with over thirty years of experience in high technology companies and management. He teaches entrepreneurship at both Stanford and UC Berkeley, and his Google Tech talk The Secret History of Silicon Valley (video) is one of the definitive views on early Silicon Valley innovation (updated clip from Computer History Museum).

You can find more on Customer Development by visiting http://SteveBlank.com

Part 1

Part 2

Part 3

Google hosts Eric Ries author of, "The Lean Startup"

We're going to be discussing Eric Ries's book during our Venture Launch educational series. I found this high quality video filmed at Google and thought you might enjoy it.

The Lean Startup movement is taking hold in companies both new and established to help entrepreneurs and managers do one important thing: make better, faster business decisions. Vastly better, faster business decisions. Bringing principles from lean manufacturing and agile development to the process of innovation, the Lean Startup helps companies succeed in a business landscape riddled with risk. This book shows you how.

Eric is the author of the popular blog Startup Lessons Learned and the creator of the Lean Startup methodology. He co-founded and served as CTO of IMVU, his third startup, which has today has over 40 million users and 2009 revenue over $22 million. An entrepreneur in residence at Harvard Business School and a frequent speaker at business events, he advises startups on business and product strategy using the Lean Startup approach.