In the midst of all that has been going on here I have been meaning to post some links and info that I have found interesting. The first was an article about the trends in Social media and the growth in advertising dollars being spent. According to eMarketer, advertisers spent an estimated $920 million on social networking sites in the US in 2007, and are projected to spend $1.6 billion in 2008. Thisis encouraging news for folks getting in to growing their online communities and

it just shows the value of Social networking even if you do not push ads in the face of your visitors. http://www.mediapost.com/ommasocial/

This is just one example, Social networking is expected to grow to a 5 billion market by 2012 as per the graph I found in CRM magazine.

The other stuff I wanted to post this week was some cool utilities and web tools that we have just started using and found to be very powerful in our business processes. The first was http://www.makanasolutions.com/ they have a great new tool suite for developing and calculating compensation plans for your sales teams. Another is http://www.mindjet.com/ which is a mind mapping tool that has a desktop version which integrates with MS Office, MS Project and Visio in addition to sync with a web based tool for real-time collaboration on mind map diagrams. Since we work with so many folks in different time zones I have personally found http://www.qlock.com/ useful to keep track of world times.

Other news on the development side, we are going live with http://www.bavc.org/ tomorrow which is a fantastic new social networking community for the Bay Area Video Coalition. We partnered with Airbag Industries and developed not only the Joomla Portal Framework but also a complex and well designed custom template. Real Life Radio just launched this week at http://www.realliferadio.com/. This was a partnership with Canonball Creative and is a good example of a simple JoomlaCRM installation. Our JoomlaCRM social networking CRM 2.0 portal will be officially released in the couple weeks. We are excited to be one of the first to bring to market what will be a common business framework of the future for integrated customer communities. You can learn more by visiting http://www.joomlacrm.com/ to see a live demo of the community portal or http://www.infoathand.us/ to learn about the Infoathand CRBM system. We also just started a new project with Pro-Link this week. Exciting and busy times ahead and we are thankful to our many customers. Ahhh... that reminds me of my favorite quote of the week "Great companies are built by great customers". We are glad to offer and be part of great collaboration teams...

There I got it out... clear head...now back to the grind :-)

CN

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This past week Sony and I had the great pleasure of participating in the Entrepreneur Launch Pad program sponsored by the Providence Rhode Island Chamber of Commerce. This educational series kicked off with a three day “boot camp” led by Jack Derby and George Simmons from the Derby Management Group and is part of a 6 month program designed to educate and introduce startup businesses to the Venture Capital and Angel investor funding community. This initiative is intended to stimulate economic growth for the RI business community. Perhaps I am bias as a participant but what an excellent idea on behalf of the chamber.

I have to say the program was excellent! We took away a lot of valuable information and met some wonderful folks. This was set up as a workshop where the lectures by George,  Jack and others provided insider information on how to hone our pitch and fill in the voids of information required to improve our focus and solidify the vision and factual information in our business plan as it relates to the funding community. What helped make it powerful for me was the workshop setting with 16 other startup businesses that are going through some of the same strategic and growth challenges that we have been going through. I know there will be a lot of homework over the coming months since they unraveled so much great info to digest and apply but well worth the effort. This program has the potential to be just as it is intended by its very title, a “Launch Pad” for growth and success.

Quick overview:

Through six months of intensive coaching, the Chamber will provide entrepreneurs with hands-on, real-world specifics and answer the vexing questions that keep them awake at night. Entrepreneurs will also have the opportunity to meet investors from throughout the New England region who are specifically interested in generating deal flow from Rhode Island.

Among the topics to be covered in Entrepreneur Launch Pad:

• How to successfully raise venture capital?
• How to craft a winning business plan?
• How to ramp-up sales?
• How to recruit an "A" level team?
• How to protect intellectual property?
• How to get to the next round of financing?
• How to land the next meeting?
• How to meet the right people?
• How to negotiate a term sheet?

The ideal applicant would look like this:
• Revenue: 0 to $10 million
• Number of Employees: 2 to 50
• Market Size: Would support company growth to $10 million in sales
• Product or Service: Non-commodity
• Growth Capital Needed: $1 million to $5 million
• Market Sectors: Software, hardware, clean tech, alternative energy, health care, medical devices, preventive health, defense related, oceanography, financial services

If you want to learn more about the Derby management group check out their site: http://www.derbymanagement.com, if you want to learn more about the program visit the Providence chamber site: http://www.providencechamber.com/Launchpad.aspx or contact Janet Raymond, senior vice president/economic development/operations at jraymond@provchamber.com or 401.521.5000.

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