Funding strategies for entrepreneurial businesses focus of Dec. 13 workshop
Companies now need to show more than just an interesting idea or product; they need to show a solid business model that demonstrates a well-defined customer base, accessible distribution channels and manufacturing and cash flow showing longevity potential.
A VIEW Workshop Series in Boise on Monday, Dec. 13, will teach companies how to do just that. The workshop is presented by Wells Fargo and the University of Idaho. The workshop will be held at the University of Idaho Boise Legacy Pointe in the Idaho Water Center, 322 E. Front Street, from 6:30-8:30 p.m. The workshop series is free and open to the public.
The university’s VIEW, or the Vandal Innovation and Enterprise Works, program recently welcomed Jim Forbes, a former corporate and investment banker, as Wells Fargo Instructor and Entrepreneur in Residence.
He will share his insights on obtaining start up funding for new businesses. Forbes is a registered investment portfolio manager and managing partner of a fund that invests in startups. At the University of Idaho, he teaches classes in general entrepreneurship, writing business plans and entrepreneur financial management. Forbes will discuss funding in the current economic climate, including new and alternative means of obtaining capital.
Forbes also will discuss a relatively new funding strategy that centers on angel investors taking a percentage of the future revenue stream rather than a percentage of the equity. An advantage to the investor from this approach is that it lessens the risk and offers the potential of a faster financial exit. Advantages to the company include a smaller cap than what would be required in an equity sharing arrangement and giving up a lesser equity percentage.
Local real estate firm moves upward and downtown
Data from the National Association of Realtors shows that NAR Membership in all 50 states dropped more than 18% from 2006 to 2009. In Idaho, that number jumps to over 24%. While the real estate business has seen tough times over the past few years, not all firms are struggling. Front Street Brokers is a small brokerage based in Boise, but that is not stopping them from moving to the big leagues of the local real estate world.
Owner Mike Turner started the firm as Turner Real Estate Group after working with RE/MAX for a number of years. Turner wanted flexibility to provide unique and creative services for his clients, without being constrained, as agents often are, at larger franchise brokerages.
“There were just too many things holding me back before, so I broke off on my own and brought a first class team of agents together,” says Turner. “We’ve managed to grow our business every year, without adding new agents, even during this real estate crash. As with any business that has survived over the past few years, we’ve had to work hard and adapt our services to match what the marketplace is looking for; success in this climate requires innovation and a competitive edge.”
Front Street Brokers re-invests almost all of their profits back into the business, which has allowed them to stand out in a marketplace with over 5,000 real estate agents. Turner further differentiates his business with a weekend radio show, “The Real Deal” on 670 KBOI, and publishes and mails out his own printed real estate newspaper to over 3,000 Treasure Valley homes.
The small Boise brokerage recently secured a downtown office on the corner of 9th and Front Streets, across from the Boise Center at The Grove. Front Street Brokers have an Office Open House scheduled for 3 p.m. on Thursday, Dec. 9, followed by a reception at Solid Grill & Bar in BoDo.
Junior Achievement of Idaho receives $2,500 grant from Whittenberger Foundation
Junior Achievement of Idaho announced today that it has received a grant in the amount of $2,500. This grant will support the implementation of 15 economic, business and financial literacy to low/moderate income students at the elementary level in the Treasure Valley. The grant was awarded to JA of Idaho today from The Whittenberger Foundation at their annual luncheon held at the College of Idaho in Caldwell.
The JA elementary school programs include six sequential themes for kindergarten through fifth-grade students and one capstone experience. Students learn the basic concepts of business and economics and how education is relevant to the workplace. The sequential activities build on studies from each preceding grade and prepare students for secondary school and lifelong learning. All lessons are taught by volunteers in the community.
“We are happy to receive this grant in support of our implementation of our JA programs,” commented Catie Wiseman, president of Junior Achievement of Idaho. “These funds will allow us to purchase and deliver the programs to students with the greatest need in the Treasure Valley. We very much appreciate The Whittenberger Foundation for understanding this need in our community.”
Junior Achievement welcomes contributions at any time to support the implementation of our educational programs. If interested in making a financial contribution or becoming a volunteer for JA, please contact the Catie Wiseman directly at 208-350-5065.