Friday, October 26, 2012

Even More 5 1/2 Entrepreneurship Facts

David Solomon has this round of 5 1/2 facts from RS: Social Entrepreneurship:

Columbus Circle from Time Warner Center
1. The company Applied Immune Technologies is trying to create antibodies that will kill malignant cells.

2. The startup companies only need a couple of million dollars at most to start their companies.

3. USIBC [US-Israel Business Council] started the WE Summit to give six brilliant Israeli female entrepreneurs the chance to raise start-up funds their companies.

4. BrandsForce is an innovative social media marketing platform. Here people can recruit customers to support their brands.

5. Watching the networking before the program gave me a better understanding of what it takes to make connections and get customers. Everyone was talking to each other about their respective businesses.

5 1/2. The Time Warner building was really cool because it was very technologically advanced and ornamented with interesting flashing light figures that stood out to me.

5 1/2 More Entrepreneurship Facts

Here are Yisroel Quint's 5 1/2 facts from the Women Entrepreneur's Summit on Monday, October 22, 2012:

Five and a half things I learned were:

1. "Orville Wright didn't have a flying license": You don't need to be an expert to have a genius idea.

2. You need to be able to sell your product just as much as you can create the product.

3. "There's nothing new under the sun": Most of the ideas presented at the conference had lots of competition and weren't anything revolutionary, but small innovation makes them worthwhile.

4. It's important to acknowledge an imperfect idea and be able to take constructive criticism because only having "yes men" around you will cause stagnancy.

5. Money will be lost before it's gained. Most of the people, when presenting, showed losses for the first couple of years.

5.5. You don't want to present last at a long conference because most people will be itching to get out of the door.

Yisroel Quint

Social Entrepreneurship goes to the WE Summit!

The Time Warner Building
RealSchool: Social Entrepreneurship got off to a great start this past week, on Monday, October 22, when three members of RS, Eddie Maza, Yisroel Quint and David Solomon, attended a Women's Entrepreneurship Conference that David's father Eddie Solomon invited them to join. The summit, which took place in NYC at the Time Warner Center, was run by the U.S-Israel Business Council and featured presentations from six promising female-led start-ups. The conference also linked investors and executives, giving them the chance to explore investment opportunities and learn about the latest trends dominating the industry.

Here's some information about the summit:

USI Women Entrepreneurship Summit

We asked Eddie, Yis and David to send us 5 1/2 facts they learned from the summit. We'll go in alphabetical order and share those facts with you throughout the day:

Eddie Maza:

1) For the past ten years, there has been no increase in the number of start-ups founded by women (still 5%) [Ed. note: And the three members of RS who attended the women's conference were all male!].

2) It is very important to be able to show how your product/service is unique.

3) It is important to identify a specific niche in which your product will be bought.

4) Investors are not interested in the actual product, only the business plan. When presenting your idea, focus on the business plan. Investors only want to know they'll make money!

5) A main goal of many start-up companies is to be bought by a larger company. The business world will applaud you if you manage that!

1/2 fact: The view from the tenth-floor cafe of the Time Warner building is fantastic!