Category Archives: Startup Success

Guest Blog From Former Cupid’s Cup Winner, Goozex

This year marks the 9th annual Cupid’s Cup business competition chaired by Founder & CEO of Under Armour, Kevin Plank. Plank partnered with the Dingman Center to find the most passionate student entrepreneurs running impactful businesses and in 2013 they took the competition national. Before this Cupid’s Cup was a University of Maryland-only competition and in 2007 the winner was Goozex.com.  Today’s guest blog is from Goozex.com co-founder, Valerio Zanini. Read about his journey with the Dingman Center and where Goozex.com is today. 

When Jon Dugan pitched Goozex.com at a Pitch Dingman event in 2005 he lost the competition. The idea was great, but his business plan needed further exploration and development. Just one year later, Goozex.com was open for business and in a few months had gained thousands of users and won the prestigious IMA Interactive Media Award for best website design. How Jon was able to create a viable business and launch it while still in college is a fascinating story that shows how the Dingman Center can have a huge impact in shaping entrepreneurship in the DC region. goozex-logo

In all senses, Goozex is a Dingman Center success story of teaching the right methodologies to start a company, providing the right support, and trusting entrepreneurs in their vision. Jon Dugan was a senior at the University of Maryland when he pitched the Goozex idea at the Dingman Center. One of the judges who voted against his business plan later invited him back to the Center and offered help in developing a better model for the company.  I was that judge, at the time a second year MBA student and Dingman Scholar helping local entrepreneurs start their businesses. I paired with Jon and together we brainstormed product ideation, refined the business model, and connected with key suppliers.

Within a few months we had a working model of Goozex and a team to launch the business. We partnered with a software development company in Italy to cut down on costs, and brought in another MBA classmate to lead the marketing strategy in preparation for the launch. Mark Nebesky joined the company eager to jump on an entrepreneurial opportunity and excited to be working in the video game industry.

I had come to the US from Italy to obtain an MBA degree at the Robert H. Smith School of Business. I had received offers from other MBA schools around the world but chose UMD for one key reason: the Dingman Center for Entrepreneurship. Smith was the only business school with an in-house entrepreneurship center and a curriculum designed to foster entrepreneurship among the student body, and support new entrepreneurs in launching their ventures. To me, UMD was the best choice and I joined the 2006 MBA class with the clear intent of participating to the Dingman Center’s activities, and one day starting my own company.

The Dingman Center supported Goozex in so many ways. It provided the very first seed capital that was used to sign the contract with our first supplier and incorporate the company: we were in business. The Dingman Center gave the newly born startup its first office space: it was just a room shared with other businesses but it gave us a sense of stability and belonging. The then-Director of the Dingman Center connected us with the founder of another video game company: over the years this proved to be the most productive partnership for Goozex. The Entrepreneurs in Residence provided us with advice, support, and even participated in the seed stage round of financing. I am sure that Goozex would not have existed without the Dingman Center and its great people.

Over the years Goozex.com grew to become the #1 online platform for used video games in North America. We were consistently rated the best trading platform for several years in a row by third party websites. We created an engaged community of users many of whom are still with us years later. And we received multiple offers for acquisition, including one from one of the largest media conglomerate in the US (the owners have a castle in California!). We were excited by the opportunity, but even more excited by the growth prospects of our company and turned it down. We had recently launched our Facebook application (at a time when the Facebook App marketplace was considered the ultimate thing in business and everyone was striving to get there). And we had two big partnerships lined up and ready to close. It made sense to us, at the time.

But by 2009 things had started to get sour. The economy was in chaos. Entertainment spending declined, as did Gamestop’s used market for the first time in a decade. Prospective investors disappeared, followed by the two big partnerships. In just a few months we were back to the drawing board figuring out how to pivot and grow Goozex again.

We owned a solid and appreciated brand, a loyal user base, and played in a very large market that, despite the continuous challenges posed by digital games, showed little signs of shrinking. We knew Goozex could make it, and we decided that if we didn’t find the resources needed to grow the company, we wanted to find a new acquirer who had the possibility to scale it up. We rolled up our sleeves, cut down our costs, and doubled up our efforts.

Things really turned around when we finally found an interested buyer, a company who believed in the Goozex’s vision and wanted to restore its growth potential. We sold the company on November 15, 2012.

The Goozex story is one of endurance, passion, and ingenuity. It was a bumpy ride, but a fantastic ride nonetheless. It has shaped my life and that of all Goozex founders and associates. And I believe it’s a great Dingman Center success story. The resources, trust, and support offered by the Dingman Center were priceless. And it certainly proved that I made the right choice in attending the Robert H. Smith School of Business!

Valerio Zanini
Co-founder and CEO, Goozex.com
2005-2012

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Dingman Center Angels: A Year in Review

The Dingman Center Angels connects regional startup companies seeking seed and early-stage funding with angel investors. In this special edition of Worth Reading, we are featuring an info-graphic showing the metrics from this year’s investment season.

DCA Year Review (1)

Background on the companies Dingman Center Angel members invested in from September 2012 to August 2013.  

  • 6th Street Commerce: focuses on simplifying and streamlining the critical business processes associated with managing a successful E-commerce business.
  • Astrapi Corporation: Astrapi’s patented Compound Channel Coding™ (cCc™) allows for dramatic improvements in communication performance by smoothly integrating periodic and exponential signal parameters.
  • Brazen Careerist: a growing community of connectors, coaches, job-seekers, recruiters and entrepreneurs to help you find your next great opportunity.
  • Cirrus Works: a scalable integrated infrastructure solution that forms the basis of efficient technology management in commercial networking environments.
  • Distil Networks:  protects websites against web scraping, content theft and competitive data mining.
  • E-ISG Asset Intelligence LLC: delivers cost efficient solutions to help customers manage and track their assets so they can reduce costs and improve operation efficiency.
  • ExecOnline: provides every executive at the world’s great companies with access to superb training opportunities.
  • Foodem: an online trading, business intelligence, and process automation solution for the $670 Billion U.S. wholesale food distribution industry.
  • InGo: the revolutionary solution which brings data-driven value to face-to-face sales and marketing. InGo provides Social Event Marketing with Meeting Matching for show growth and guaranteed value for every user.
  • Mobile Systems 7: allows enterprises to securely deploy smartphones and tablets by monitoring deployed systems, securing sensitive data and enforce corporate policies without relying on software agents.
  • Naaya: a game-based social learning platform for Elementary Schools (K-5) focused on global and social studies and 21st Century Skills – Communication, Collaboration, Creativity, Critical Thinking, and Character.
  • Nexercise: a free mobile application that rewards users with virtual medals, discounts and free merchandise for good health.
  • Plant Together: a platform to mobilize youth and families, in partnership with other agencies, to plant trees and promote reforestation in critical zones on the African Continent.
  • Riskive: provides enterprise grade security technology dedicated to identifying, monitoring and preventing risk across the socially connected enterprise.
  • Spinnakr: increases click-throughs and conversions by automatically displaying the right message to the right visitor.
  • Visisonics: brings to market state of the art products and solutions in 3D sound capture, analysis and reproduction.
  • YaSabe: connects businesses, Latino culture and community by allowing users to be “in the know” and confidently make choices about how and where to spend their time and money.
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Meet Live Unchained and Support their Indiegogo Campaign!

Meet Live Unchained, an EnTERPreneur Academy company in the Hatch stage that is in the midst of a major crowdfunding campaign on IndieGoGo.  We caught up with Kathryn Buford, the founder of Live Unchained, to chat about her organization and her latest efforts.

Tell us about yourself and your company.

A: I am Kathryn Buford, a PhD student in sociology at UMD, an artist, journalist and digital media consultant.

My organization is Live Unchained, an international arts media and events organization featuring works by female artists across the African diaspora. Our media offerings include a growing online magazine at www.liveunchained.com where we’ve interviewed over 100 female artists from over 16 countries. We also offer a variety of events such as art exhibits, festivals, film screenings, concerts and now, with the help of our Indiegogo supporters, we’d like to add an awards ceremony to our offerings as well.

How did you come up with the idea?

A: I started Live Unchained with my college roommate, Miriam Moore. She majored in Graphic Design and I studied Sociology and African American studies. A lot of our classes overlapped and led us to discuss topics like art, social justice and black identity. In our eyes we had pretty radical ideologies. Negative and limited representations of black women in popular culture really upset us and learning more about the history behind those images added fuel to the fire. When it comes to arts media and venues, women of African descent are still under-represented, with not enough done to reflect the diversity of our perspectives and experiences.

At the start, we wanted to create a cultural project that would critique the misrepresentation and under-representation of black women, by satirizing the absurdity of it all. But, as we grew – putting others first and developing a global conscience – the project changed. We didn’t want it to only be about what was wrong, but also celebrating what black female artists were creating. We grew to see it as a platform and community to unite black women across the diaspora.

How has the Dingman Center and the EnTERPreneur Academy helped you and your startup?

A: I am so grateful for all the wonderful entrepreneurs the EnTERPreneur Academy has allowed us to meet. It’s amazing to not only learn about business marketing and strategy from some of the leaders in the industry, but to also see their human side. These accomplished business executives have been so humble and down-to-earth; I really respect their approachability because they model for me the type of entrepreneurial leader I want to be. I also love seeing my colleagues in the program and learning about their businesses.

Tell us about your Indiegogo campaign.

A: The campaign is called “Terrifying, Strange & Beautiful.” The name comes from a line from the poem, For Women Who Are Difficult to Love by London-based Somali poet, Warsan Shire: “You are terrifying and strange and beautiful, something, not everyone, knows how to love.”

After I heard these words I shared the poem with everyone I could. Later, I had a vision for an awards ceremony titled, “Terrifying, Strange & Beautiful,” The goal of this ceremony would be to recognize the many amazing artists that we’ve interviewed during the last 4 years on Live Unchained for their layers, fire, and vulnerability, both as individual women, and as part of an international community.  The ultimate message being that, like in Warsan’s poem, these are qualities meant to be celebrated.

With Warsan’s blessing, we’re raising funds for an awards the ceremony to honor artists across the African diaspora. The funds will also cover the costs of Warsan’s travel and accommodations so she can attend the ceremony. In conjunction with the awards ceremony, Warsan will host a workshop on healing through narrative and participate on a panel on cultural activism.

Why did you decide to utilize crowdfunding and what have you learned about running a crowdfunding campaign so far?

A: Being very resourceful, we’ve been able to put on some really great Live Unchained events and share some great magazine features. However, to make “Terrifying, Strange & Beautiful” a reality, we need money.. For this campaign, I decided we’d raise our own funds instead of waiting on someone else’s grant or competition time-table.

I did a lot of research on crowdfunding platforms and learned some are better suited for different type of initiatives. We’re raising funds for an arts initiative and  want to avoid the risk losing all the funds if we don’t reach our goal soIndiegogo is the best choice for us. I’ve also learned the importance of having a strong start, affiliate networking plan and fundraising milestones. We kicked off “Terrifying, Strange & Beautiful” at our anniversary party and it brought a lot of awareness and positive energy to the campaign.

With an online campaign, social media has been important for spreading the word. We created a lot of visuals that people can share on Facebook, Twitter and Instagram. For example, with the help of the Chair of the Graphic Design Department at the University of Illinois at Urbana-Champaign we created a digital postcard campaign (http://www.liveunchained.com/inspired-by-the-poetry-of-warsan-shire-design-students-launch-terrifying-strange-beautiful-postcard-campaign/) .

What are your next steps with your business?

A: I’m really excited about adding people to our advisory board. We’re also adding a non-profit component to the business so we’ll by established as a hybrid for-profit/non-profit entity.

Additionally, we’ll share more regular video features and new content at www.liveunchained.com.

Do you have any advice for fellow aspiring entrepreneurs?

A: When it came to spreading the word about the “Terrifying, Strange & Beautiful” campaign, I had some reservations about asking people for money. One of my mentors told me, simply, if you want people to give you something, you have to ask for it directly. So, I’d say, once you are clear about what you want and why, there’s no need to be self-conscious about asking for the help you need in making it happen.. Make your requests professional, but also personal; whenever appropriate, include a visual component that humanizes your work.

And, most importantly, Live Unchained.

Watch the video below to find out more about Live Unchained’s Indiegogo campaign. Help support Live Unchained by contributing to their Indiegogo campaign at http://www.indiegogo.com/projects/270627!

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EnTERPreneur Academy Profile – imagine(x)

To celebrate Global Entrepreneurship Week, the Dingman Center is featuring a series of blog posts about our EnTERPreneur Acadmey, a program to help guide student ventures from idea to launch. The Academy provides members with a variety of resources including startup fundamentals workshops, advising, office space, selling opportunities and seed funding. The Academy’s three stages Idea Shell, Hatch and Terp Startup provide students with specific resources and requirements that suit the level of progress for their ventures.

Today’s featured startup is imagine(x), the brainchild of EnTERPreneur Academy member, Eric Mintzer. Eric is also an undergraduate student at the University of Maryland who has been engaging frequently with the Dingman Center for Entrepreneurship. Eric’s current startup, imagine(x), which was the runner-up at last month’s Pitch Dingman Competition, is an engineering firm poised to change the way we experience performance art.  Read the Q&A to find out more about Eric and his business, imagine(x)!

Q: Please describe your business.

A: imagine(x) is a creative engineering firm which bridges the gap between science and art.  We strive to develop the most innovative and awe-inspiring technologies of the future, today.  We specialize in augmented reality, pixel mapping, interactive installations, and real time visualizations.

Q: How did you get the idea for your business?

A: I had the idea to create imagine(x) after being blown away by incredible stage setups and immersive entertainment environments.  I wondered, “What can we come up with next?” and decided to become part of that ‘we’ by creating systems that allow concert-goers to naturally interact with these complex audio-visual systems.

Q: What phase is your venture in and what are your next steps?

A: imagine(x) is hatching.  My next step is to finish developing various projects I am working on, while servicing a handful of clients to enhance my portfolio and create revenue to reinvest.

Q: What drew you to become an extrepreneur?

A: I attribute three large areas of my life that contributed towards my entrepreneurial motivations: my parents, my education, and the internet.

My parents, from a very young age, prioritized the importance of being happy and doing what I wanted to do.  This was very different from what my outside environment suggested – financial success.  When financial success became less important, education towards an industrial job became boring and I started doing what any middle-school student would do for fun – independently studying computer programming.  This old drive to Create has gratefully stayed with me long enough to be amplified by the University of Maryland with their unparalleled support and initiatives.

Q: As a student startup, what are some of the challenges that you face?

A: Apart from my daily challenges of generating and debugging code, my greatest is managing my time efficiently.   I have various business oriented goals that involves marketing, branding, analyzing and more, but I am more interested in testing and bringing new technology to the market quickly.  This temporary solution is allowing me to super-accelerate my learning and development, but also has the potential to restrict the speed of business growth.

Q: How did the Dingman Center contribute to the development of your startup?

A: The Dingman Center has been a tremendous resource for my venture.  Faculty and staff have provided me with outstanding mentorship; entrepreneurs-in-residence and alumni have consistently offered guidance and experience; the supporting network and relationships connected me with industry leaders, potential clients and growth opportunities; and the workshops, speaker events and week-long summer entrepreneurship boot camp provided hands-on education, real life experiences, and startup funding.

While many classes at the University teach you to learn from the past using best practices and the Dingman Center for Entrepreneurship expands on this by also encouraging and fostering innovation and leadership for an unpredictable future.

Q: What about being a part of the EnTERPreneur Academy excites you the most?

A: The enTERPreneur Academy is a large leap forward towards alternate opportunities and reform in education for students that strive on it,\ and I am excited to be in the inaugural EnTERPreneur Academy class!  I am anxious to watch the growth of this program and the successful stories that result from it.

Come back for tomorrow’s feature!  And don’t forget to “like” the Dingman Center’s Facebook Page tomorrow!  One lucky new fan will receive an awesome prize package from the Dingman Center for liking us tomorrow for our Facebook Challenge!

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EnTERPreneur Academy Profile – AquaSwitch

To celebrate Global Entrepreneurship Week, the Dingman Center is featuring a series of blog posts about our EnTERPreneur Acadmey, a program to help guide student ventures from idea to launch. The Academy provides members with a variety of resources including startup fundamentals workshops, advising, office space, selling opportunities and seed funding. The Academy’s three stages Idea Shell, Hatch and Terp Startup provide students with specific resources and requirements that suit the level of progress for their ventures.

Today’s feature is AquaSwitch, a product created by EnTERPreneur Academy member, Aashay Doshi. Aashay is an undergraduate student at the University of Maryland who has taken advantage of several of programs offered by the Dingman Center, including an entrepreneurial class and JumpStart. Aashay’s current entrepreneurial venture is AquaSwitch, a bottle that allows a user to carry two different liquids at the same time. Read the Q&A to find out more about Aashay and his business, AquaSwitch!

Q: Please describe your business.

A: AquaSwitch is a unique dual compartment bottle that facilitates the portability and storage of two different liquids at the same time. Our intricate engineering and detailed design ensures no mixing of liquids and no change in temperature. Water and Gatorade, water and juice, water and protein shake–whatever the combination may be, AquaSwitch provides a convenient solution to do so. We aim to provide a convenient, cost effective and stylish solution to diverse hydration requirements.

Q: How did you get the idea for your business?

A: My business idea stemmed out of a class project at UMD. Our assignment was to think of business ideas and form teams to draft papers for the class. However, I decided to take this process to the next level and work on actually launching a product.

Q: In what phase is your venture and what are your next steps?

A: We are in the test marketing phase. We have our preliminary designs and we need to test a sample market to see if we need to make changes to the bottle. Our next step is to get a production run going so we have enough bottles to test with a representative sample.

Q: As a student start-up, what are some of the challenges you face?

A: The biggest challenge as a student entrepreneur is to gather funds. Because college students like us are poor, it is hard to get investments for our passions. In addition, the deteriorating economy pushes us to look for jobs thereby diverting our attention from our  passion. Money is by far the biggest problem.

Q: What part of being in the EnTERPreneur Academy excites you most?

A: The EnTERPreneur Academy provides an extremely exciting and conducive environment for budding entrepreneurs to connect and develop together. What excites me most is the networking and professional development potential the Academy provides. It is an absolute pleasure to brainstorm with fellow innovators.

Stay tuned for the next EA company!

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Startup Success: SpydrSafe

The Startup Success series features interviews with regional entrepreneurs who received funding from the Dingman Center Angels investor network. Click HERE to see a full list of companies that presented and received funding from the Dingman Center Angels during the 2011-2012 year.

SpydrSafe’s mobile security platform, SpydrSafe Mobile DLP™, prevents corporate data breaches from employee-owned devices (BYOD) by providing enterprise IT departments with the tools necessary to safeguard corporate data. SpydrSafe Mobile DLP™  delivers app-level protection for all data on Android smartphones or tablets. Keep reading for an interview with SpydrSafe CEO Michael Pratt.

How did you get the idea for your business?
Myself and my co-founder, Kevin Sapp, both worked in the mobile security/mobility space for 6 years or so before founding SpydrSafe. We kept abreast of how the market was developing and the needs that were unmet and SpydrSafe’s genesis came out of that process.

Why a startup?
Why not?  We’re addressing a “new market” with unmet needs – startups are a natural way to do this.

What phase is the company in?
We’re still early and pre-revenue, albeit we plan to “cure” that by releasing our first product in the market on October 1, 2012.

As a startup, what are some of the greatest challenges you face?
If you’ve been in the startup world as long as Kevin and I have been, the over-riding challenge is always funding. It’s a long, continuous process for a startup. The other challenge is “biting your tongue” when an energetic, but not-so-knowledgeable VC who doesn’t understand the space, or have portfolio companies in the space, and in many cases doesn’t do early stage deals (why are we having this meeting again?) spends most of their time telling me all the reasons why what I’m doing won’t work.

What was the Dingman Center Angels review process like?
To be brutally honest it was a bit tedious – and I still don’t understand why startup companies have to pay to present at these various venues. But at the end of the day, it’s just part of how the game is played. As someone once told me, you have to kiss a lot of frogs to find the prince.

What do you think about the current state of the entrepreneurial community in Washington DC and Baltimore?
As someone who has visited both coasts and spoken to VC’s in both locations, I’d say that DC/Baltimore is trying very hard to become known as “Silicon Valley East” but they have a very long way to go to get there. It’s more than just one or two “homeruns” that make a region (e.g., AOL – too many years ago now; and Living Social). It’s an attitude and an understanding that what’s important in an entrepreneurial endeavor is the idea (it has to be large enough to be interesting to them) and the team (seasoned, enthusiastic, focused).  What is NOT important is ARPU (average revenue per user), but it’s almost always the first question we hear. So, the “entrepreneurial community” in this region is really a “later stage” environment. I guess it’s less risky than startups/early stage companies but as long as the collective mindset in this region is “we like to see traction before we invest”, it will never be Silicon Valley East.

What advice would you give student entrepreneurs who want to start their own business?
Focus, focus, focus.

Michael Pratt has sixteen years of startup experience with six years in the mobility field. He has held C-level positions with companies including CardStar (acquired by Constant Contact in 2012), Trust Digital (acquired by McAfee in 2010) and Galt Associates (acquired by Cerner Corporation in 2006)

Connect with SpydrSafe on Facebook, Twitter, and LinkedIn

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Startup Success: Lemur Technologies

The Startup Success series features interviews with regional entrepreneurs who received funding from the Dingman Center Angels investor network. Click HERE to see a full list of companies that presented and received funding from the Dingman Center Angels during the 2011-2012 year.

Lemur Technologies collects market, retail, customer and community data to optimize the results per location. Using various methods of real-time communication, Lemur creates a sense of urgency and a call to action that leads to more sales. Lemur clients are provided with the best data analysis and individual algorithm results that maximize each store’s opportunities to move inventory. Keep reading for an interview with Lemur Technologies CEO, Will Fuentes.

How did you get the idea for your business?
I worked in the retail industry for about 9 years and identified a unique approach to solving the problem that slow moving inventory is a huge drain on resources.

Why a startup?
I really felt that I had a unique approach to solving a big problem. After spending some time with mentors they told me that I should go pursue building a company. I thought I had the right idea and the right market. Also, I like the freedom of being my own boss.

What phase is the company in?
We are currently in the “ramp up” phase. We are launching with a national client and looking to finish negotiations with another client.

As a startup, what are some of the greatest challenges you face?
Our greatest challenges are maintaining culture and finding the right employees!

What piece of advice/information have you received that has added the most value to your business?
If you have to ask if it’s a good idea, then you shouldn’t start your own business. You have to know it is good idea and go after it.

What was the Dingman Center Angels review process like?
The staff and Elana have been very generous with their time and advice. I have gained a lot from being able to present; not just money but other things as well.  

What can be difficult working with Angel Investors?
The process can be complicated. Angels are usually less invested in a company than VC’s because they prefer simple deals and invest in smaller amounts. To secure a second meeting they need to be convinced of your company from the start.

What advice would you give student entrepreneurs who want to start their own business?
Go for it! And most importantly, pay it forward. When you meet someone that could possibly help your business make sure you see what you can do for them before asking for anything.

What piece of advice/information have you received that has added the most value to your business?
The biggest piece of advice has been to believe in my ability and my product but not so much that you lose focus or the ability to take feedback and criticism.

Will Fuentes founded Lemur Technologies, Inc in 2011. In his role as CEO, he is in charge of all aspects of vision, strategy and execution for Lemur IMS. Will brings 7 years of field and corporate experience to Lemur. This experience has allowed him, and the Lemur team, to create software that is easy to implement and impactful to the bottom line. After graduating from The George Washington University Law School in 2001, Will worked for two years in the legal field before pursuing a career in retail management. 

Connect with Will Fuentes on Twitter, LinkedIn, and Facebook.

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Startup Success: Social Tables

The Startup Success series features interviews with regional entrepreneurs who received funding from the Dingman Center Angels investor network. Click HERE to see all of the companies that presented and received funding from the Dingman Center Angels this past year.

 

Social Tables created a web-based event planning platform for large, seated events. About a month after closing their seed round, which was oversubscribed by $250K, Social Tables launched a new version of the platform that is a total rewrite of the previous one. Founder and CEO of one of the most elegant event management software platforms on the market, Dan Berger sat down with the Dingman Center to discuss his entrepreneurial experience with Social Tables. Keep reading for Q&A with Dan Berger.

How did you get the idea for your business? 
I was going to a destination wedding and thought to myself “wouldn’t it be amazing if I could see the seating chart before I got there?”  Since then, the idea has evolved to include a suite of event planning products, but the root of the idea is still always on my mind.

Why a startup?
I can’t imagine myself doing anything else. I love building teams, beautiful products, and winning.

As a startup, what are some of the greatest challenges you face? 
Letting someone go is probably the hardest thing I have to do but it’s part of building great teams.

What piece of advice/information have you received that has added the most value to your business?
“What you don’t know, you don’t know.” In other words, don’t be all-knowing because there are some things you haven’t experience.

What was the Dingman Center Angels review process like? 
It was exhilirating and seamless. The Dingman Center staff, especially Elana Fine, played a critical role in moving us through the process. She gave me pointed and actionable feedback that helped us tremendously.

Have you had to pivot with your current business plan?
We’re constantly pivoting to build features people want (not just what we think they want). Our biggest pivot, however, was moving away from a guest platform to a planning platform.

What do you think about the current state of the entrepreneurial community in Washington DC and Baltimore? 
I think it’s really exciting to be a part of. I see it as a second coming of sorts for the tech scene in the DC metro area. It’s so invigorating. I hope more startups continue to emerge and that new angels emerge as a result.

What advice would you give student entrepreneurs who want to start their own business? 
Just do it! Quit your job, energize people, and do it. That said, never lose sight of good customer development. Don’t just build something because you want it. Talk to as many potential customers as possible!

Dan Berger has planned and staffed hundreds of events. Prior to Social Tables, he worked for a Member of Congress. He has been building websites over 10 years and has an MBA from Georgetown and a BA from Hunter College. He loves languages and traveling (35 countries!). 
Connect with Social Tables on Facebook and Twitter
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Startup Success: 6th Street Commerce

The Startup Success series features interviews with regional entrepreneurs who received funding from the Dingman Center Angels investor network. To date in 2012, members have invested in 5 companies.  In 2011, member  invested in eight regional companies, making it the network’s most active year since its founding in 2004.. Click HERE to see the rest of the Dingman Center Angels portfolio companies.

6th Street Commerce focuses on simplifying and streamlining the critical business processes associated with managing a successful E-commerce business. Using their E-commerce software platform – SalesWarp™, 6th Street Commerce has been able to save their clients from $600K to over $3.5M by automating all the critical business and marketing processes needed to run an E-commerce business, including order processing, shipping, customer management, product publishing and SEO.

6th Street Commerce received funding through the Dingman Center Angels in 2012. This interview in our “Startup Success” series features CEO & Founder, Dave Potts and VP of Marketing David Anderson.

How did you get the idea for your business?
David Potts: 6th Street Commerce came out of a retail experience that I had with my family. I was living through the pains that retailers had with taking their businesses online while helping family and friends with their own online businesses. That became the foundation of the company and the source of our technology platform which we have branded SalesWarp.

What phase is the company in?
David Potts: We developed the product for two years and then brought it to market last year, generating a small profit our first year. We’re now in rapid expansion. The first year was the initial product line and roll-out. Now in year two, we’re going into a broader market.

Phase 1 involved direct sales to retailers; Phase 2 is targeted at resellers (Web Design Firms, Creative Agencies, E-commerce service providers) where we let our clients sell and customize the product. These first two phases have been aimed at larger retailers and resellers, while Phase 3 will bring SalesWarp to smaller mom-and-pop style retailers through a cloud-based product.

As a startup, what are some of the greatest challenges you face?
David Anderson: We’ve run into problems with resources, which is why we turned to the Dingman Center Angels. We had an overflow of client engagements. Another challenge has been awareness marketing. We’ve been focusing on getting market awareness through trade shows and conferences, and teaming up with partners in order to get the word out to retailers.

What is your best networking tool?
David Anderson: We use Twitter and LinkedIn quite a bit, and have been getting into Facebook more as well. Overall, Twitter has been the most effective so far and LinkedIn has always given us a good advantage in helping us target specific clients. But beyond those social media tools, our partner network has been the most important.

What piece of advice/information have you received that has added the most value to your business?
David Anderson: The best piece of advice I can offer is this: connect yourself to people who are smarter than you. Don’t rely on yourself for everything. You need a good team and good advisors.

David Potts: Bringing in seasoned advisors has been immensely helpful in terms of overcoming fundraising and other startup challenges. If you can find those folks out there in your industry, then tap into that brain trust as much as you can.

What was the Dingman Center Angels review process like?
David Potts:  It’s been one of the more aggressive and productive groups that we’ve met with locally. I’ve spent most of my career in Texas and California in the smartphone industry and I am used to working with a mature investor group. We didn’t run into a similar group locally until we met the Dingman Center Angels. It’s refreshing and the review process was very constructive. We had our funding two weeks after we presented, so it went well overall and they continue to provide assistance.

Have you had to pivot with your current business plan?
David Potts: One of the things with any new business is that you’re constantly testing what resonates with clients. We pivot frequently in the early stages to meet our clients’ needs. We’ll roll out a pitch in front of our target customers, listen to what they have to say, and then switch things up. As a startup, you can’t have qualms about changing product strategy.

David Anderson: The product itself is built off of a real world need. For the past couple of years, we’ve had the benefit of working on this before bringing it out to the rest of the market. It was proven when it started, and not all entrepreneurs have that luxury. Our pivots aren’t as much on the product functions, but more on marketing based on our customer needs and response to our messaging.

What do you think about the current state of the entrepreneurial community in Washington DC and Baltimore?
David Potts: Obviously, the DC market is the most mature in this area. But I’ve seen Baltimore start to evolve as well. We see an emerging entrepreneurial community, with folks that are more credible. That gives us hope that new companies will have an easier path forward.

6th Street Commerce is founded on the same software (SalesWarp™) that David Potts used to grow his own family’s online business. He originally developed the system in 2006 as they found no available solution that could handle the needs of their business growth at a reasonable cost. Being an entrepreneur at heart, David has always enjoyed working in new and emerging markets.


Avid triathlete and Vice President of Marketing, David Anderson brings a unique background in creative, branding and marketing that encompasses over 20 years. David founded and managed a small 5-person design boutique in Connecticut for almost 10 years before moving to Maryland in 2006 to offer Brand Consulting services to the agency and business community.

Connect with 6th Street Commerce on the Web, on Twitter, and on LinkedIn.

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Startup Success: Seva Call

Startup Success, a new feature of the Dingman Center Blog, will feature interviews with regional entrepreneurs who received funding from the Dingman Center Angels investor network.  In 2011, members invested in eight regional companies, making it the network’s most active year since its founding in 2004. Investments included Brazen Careerist, CirrusWorks, Nexercise, SevaCall, Spinnakr, Spotflux, Veenome, and YouEye. Click HERE to see the rest of the Dingman Center Angels portfolio companies.

Seva Call is the next-generation request aggregator and filtering search engine. It goes beyond traditional search engines by eliminating the inefficiency caused by the “guess and check” method of matching consumers to service providers.

Seva Call received funding through the Dingman Center Angels in 2011.  This interview in our “Startup Success” series features Seva Call President & COO and UMD alum Manpreet Singh.

As a startup, what are some of the greatest challenges you face?
The sheer volume and breadth of tasks can feel very overwhelming. You have to be a jack of all trades.

How did you get the idea for your business?
Seva Call comes from my brother Gurpreet’s experiences advertising his IT consulting  firm, Geeks On-Site. He spent almost $1 million in advertising over the last 7 years but was bogged down by upfront fees, many contracts, and the inability to track the return on investment each on advertising form. We want to build an efficient marketplace for businesses and consumers that gives flexible pricing options to businesses so that they can choose how much to spend and the ability to measure ROI. For the consumer we wanted to allow them to find a local service professional quickly without spending countless hours researching and playing phone tag with companies.

What is your best networking tool?
I use Facebook and Linkedin extensively.

What advice would you give student entrepreneurs who want to start their own business?
Just do it!

What piece of advice/information have you received that has added the most value to your business?
As a consumer to business local search service, we took to heart the advice that stressed quality. Consumers care about the quality of the professionals that we find, and we had to develop a system of finding the best quality professionals.

What was the Dingman Center Angels review process like?
The review process had simple and well-defined steps. We received great advice from the mentors that we were able to use to do a successful pitch.

Have you had to pivot with your current business plan?
Yes. One challenge we encountered was signing up companies for our service. Our solution was to use a lazy login system to decrease friction and make it easier for companies to interact with our consumers.

Manpreet spent many years as technology investor, at a Washington DC based investment management firm with over $2 billion in assets.  Manpreet is one of the youngest CFA charterholders in the world. Manpreet has been quoted numerous times by Bloomberg, TheStreet.com and other media for various technology pieces. He is a director of the LK Foundation, a philanthropic organization, and is active in the Sikh Council on Religion and Education and the Sikh Caucus. He is also a charter member of TiE DC, Washington DC area’s top network of Entrepreneurs. Manpreet has an MBA from the Wharton School of Business and holds a B.S. Cum Laude in Finance with a citation in Entrepreneurship from the University of Maryland at College Park.

Connect with Seva Call: 

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