This event was actually hosted off campus. Located at one of our school-affiliated buildings, it was very close and convenient for me. The entire building was dedicated to innovation and entrepreneurship, giving students and startups a space to work, as well as connect them to investors.
The event that morning started off with networking with fellow entrepreneurs, then transitioned to a lunch and info session on how to obtain equity in crowd funding.
The first speaker was the founder of Greenlid, an organic wastebasket that allows people to dispose food waste with their bag. It eliminates the need to clean out disgusting collection bins. The wastebasket is also compostable, so people can just bury the entire contents in home gardens.
They started out on kickstarter, obtaining $25,000 in 30 days. Side note, apparently, most kickstarter campaigns ends within 72 hours.
Then, the keynote speaker delivered top tips for entrepreneurs
Social networks
– This is very important to promote your product, as well as constantly updating it. Its to ensure people that are following wont lose interest
Engage contacts (bloggers and writers especially)
– Again, for marketing purposes and to get your product out there
– Make favorable impressions on writers and bloggers because they have the greatest reach for your product
Get accountant and lawyer
– As your company grow, you want to be focused on the product, so outsource the administrate duties
– Having proper paperwork and patent filings initially is invaluable to your company as it grows
Show don’t tell
– To promote your product, you want to avoid describing its features to clients
– Rather, let your product speak for itself
Keep majority of your company
– As you seek out venture capitalist, many of them will insist on taking a portion of your company ownership
– If you truly believe your product, you will avoid this course. Often times they will be short sighted on profits and disregard long term gains
Ask for feedback and don’t argue
– This is self explanatory
