What to Avoid During an Investor Pitch

May 31, 2012

Clay

Finding the necessary funds can be very challenging for an entrepreneur, to either start or expand a business. The current economic state has made it very difficult to obtain funding from banks, even from venture capitalists and angel investors; which is why “pitching” is becoming increasingly important.

A business “pitch” is a short presentation, used to sell a business idea to potential investors, where presenters showcase key elements of their business, like what the service or product is, target market, competitor analysis, marketing strategies, financial projections, and most importantly, how the investor will make money. This may sound easy, but the challenge here is to provide all necessary details in a restricted amount of time –usually five minutes or less—in an effective manner. That is exactly where most presenters fail.

Mistakes are bound to be made, and most investors will overlook some, if the business idea is viable and has potential, but what are those unforgivable mistakes that will nix any chances of getting the money? Here are five:

1. Being unprepared
Presenters should know everything there is to know about their business and convey it clearly, in a short period of time. Preparedness in every aspect, from body language to knowledge on a business, to time-management should be taken seriously. Showing effort in making the best out of a pitching opportunity will get noticed.

2. Not mentioning how the product or service solves a problem
Most presenters focus on what their product or service is, spending valuable minutes on explaining the ins and outs of how it works but do not elaborate on the need it fills, or how it will help customers. Presenters must focus on what makes the product or service stand out from its competitors.

3. Leaving important information out
Every key aspect of the business plan must be included in the presentation, even if may not seem well developed. Investors should not have to ask about missing information. They might even assume that the information was purposely left out, which could raise doubts and decrease the presenter’s chances of getting the money. Among the elements that should be included are information on the company’s team, market analysis, competitor and customer analysis, business model, financial projections, and funding requirements.

4. Asking for too much
In today’s economy, investors are more cautious than ever about their investments. While some ventures do need large sums of capital to get things going, the expenses need to be justified and realistic. Presenters cannot ask for $500,000 and expect investors to agree, just because the product has potential. Detail on why that money is necessary must be included, and how it will be allocated and repaid.

5.  Lack of passion and confidence
Believing in your business is one of the most important parts of pitching. Investors want to be engaged in a presentation and get excited about the presenter’s ideas and business. Confidence and passion are the cherry on top, when it comes to pitching. If presenters do not show how much they believe, not only in their business, but in their capabilities to make the business successful, investors will not have confidence in their capabilities either, no matter how good the idea may be.

Making the perfect pitch is difficult and it takes time, practice, and experience to get it right. Many successful pitchers, have succeeded only after failing many times. Also, pay close attention to all feedback received in order to keep improving and increase the chances of getting funded, sooner rather than later.

Image credit: Ambro

Leave a Comment » | Small Business Development | Tagged: , , , , , , , , | Permalink
Posted by Clay Hickson

An update on the Cherry Hill Learning Zone Partnership through the lens of the AmeriCorps Vista, Katelyn Victor

May 29, 2012

Kelsey

For those of you who don’t know, Cherry Hill is a community in south Baltimore. In 2005, Towson University partnered with the Baltimore City government, the Baltimore City Public School System, and neighborhood organizations to start the Cherry Hill Learning Zone (CHLZ). The CHLZ allows TU to work alongside community members to build upon the strengths of Cherry Hill and aid in its economic, community, and educational development.

Recently, I was able to collaborate with Katelyn Victor (among many others) to develop a new Cherry Hill section of TU in the Community. Katelyn has been the AmeriCorps VISTA, specifically dedicated to supporting the Cherry Hill Learning Zone, since August 2011 and has been instrumental in the development of new programs and continued success of existing projects.

I recently sat down with Katelyn, to learn first-hand about her role and her biggest “take-aways.”

What is your role as the AmeriCorps VISTA for Cherry Hill and what do you do when you are in the community?

Katelyn: My job as the AmeriCorps VISTA for Cherry Hill Projects is to work with TU faculty and Cherry Hill community members to develop and implement sustainable programs that improve that neighborhood and the lives of its residents. AmeriCorps VISTA is a national service program that is designed specifically to fight poverty. In Cherry Hill, I work toward reaching that ultimate goal by supporting programs that help students achieve academic success, enable residents to access healthy foods and make healthy choices, and more.

How has Towson University’s partnership with Cherry Hill grown since you started as the VISTA?

Katelyn: Since starting as the VISTA, I have had the opportunity to collaborate with faculty and staff from across Towson University’s divisions and departments to start and expand programs in Cherry Hill.

With Dr. Honi Bamberger of the Fisher College of Science and Mathematics, I developed and implemented an after-school program. After a few months of planning, the program launched in January 2012. It employed 14 Towson University undergrads and grads as tutors/mentors for small groups of Cherry Hill middle-school students. TU students tutored Cherry Hill students in mathematics twice weekly and we also invited guest speakers to talk about careers and everyday applications of science, technology, engineering and math. From January to May of 2012, the program served a little over 60 students from two schools in Cherry Hill.

I have also worked with Dr. Nadine Braunstein from our College of Health Professions on the Cherry Hill People’s Garden Project. With Dr. Braunstein and a committee of university and community leaders, I have helped that project to fund 4 new community and school gardens in Cherry Hill. I also developed and maintain a website for the project.

Lastly, I have worked to enhance communication about the partnership by teaming up with TU’s Division of Economic and Community Outreach to develop a new section of TU in the Community that is dedicated to Cherry Hill. The site allows interested individuals to submit their contact information through a ‘volunteer application’. I then work with those individuals to get them involved in projects and programs in Cherry Hill that match their interests.

What is your favorite thing about working in Cherry Hill?
Katelyn: My favorite part of working in Cherry Hill is all of the amazing people from the community who I have had the opportunity to meet and work with. Cherry Hill has a very strong group of community leaders who are passionate about improving their neighborhood. They are inspiring and energizing. Having the chance to work with them and learn from them has really been a pleasure.

What do you think is in the future for Cherry Hill?
Katelyn: The future of Cherry Hill is bright. In the short amount of time I have worked in the neighborhood, I have met so many passionate, capable, and committed individuals- from Towson University, Cherry Hill, Baltimore City Government, and other places- who are working to make it a better place. The programs that TU and others are currently operating in the neighborhood are already making positive changes. In the future, if all of these groups come together, I have no doubt that they will have an even greater impact in Cherry Hill.

Katelyn will be leaving her position at the VISTA in August, but there will be a new AmeriCorps VISTA for Cherry Hill projects to start right where she leaves off. TU’s programs have already grown so much and are sure to keep growing.

For more information about Cherry Hill and what Towson University is doing in the neighborhood, visit the Cherry Hill Learning Zone.

Katelyn Victor, left, and the tutors from the after-school STEM program in Cherry Hill

Leave a Comment » | Community Outreach, Education, Projects | Tagged: , , , | Permalink
Posted by Kelsey Beckett

Baltimore Public Relations Council Presentation — Developing a Social Media Strategy

May 23, 2012

Jenn

Last week was a big week for me! I had my very first speaking engagement, and it was an amazing experience. I was lucky enough to be a panelist at the Baltimore Public Relations Council’s panel discussion, “Developing a Social Media Strategy that Works for Your Organization.” The other panelists included Dan Collins, Senior Director for Media Relations, Mercy Medical Center; and Colleen McKenna, Principal, Marketing + Sales Advisor, LinkedIn Trainer, Intero Advisory. It was great to meet my fellow panelists, and the attendees of the event.

I posted a video of my presentation at the end of this blog post, so I won’t spend time talking about my portion. Both of the other panelists prepared awesome presentations and left myself and all of the attendees with a lot of things to think about.

Biggest take-away from Dan’s presentation

    • Dan talked about Mercy Medical Center’s social media strategy, and explained that there are 7 basic steps for social media strategy. Be sure to determine your goals, do your research, create a digital rolodex of contacts, join the conversation, strengthen relationships, and measure results. Also, don’t forget to analyze, adapt, and improve your strategy as you go along.  Dan used this post on social media strategy to support his presentation.

Biggest take-away from Colleen’s presentation

    • Colleen mentioned a lot of valuable things about LinkedIn, and she delivered a great presentation! I found myself scribbling down notes most of the time she was speaking. My biggest take-away was to make sure that your profile sounds like you. You should use LinkedIn for your own personal brand, not as a sales pitch. Therefore, your LinkedIn profile should reflect your personality.
    • Okay, I just have to say something else that I learned from Colleen. She also pointed out that you have to optimize your LinkedIn profile with keywords, and include a photo. These things are essential!

And of course there was my presentation, which I put a lot of hard work and time into preparing. Feel free to check out my presentation on SlideShare! Here’s the video of my presentation that I promised:

Thanks again to the Baltimore Public Relations Council for providing me with this wonderful opportunity.

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Posted by Jenn Lake

Center for Applied IT launches new online tool for Maryland’s 1200 veterinarians

May 21, 2012

Timothy

Maryland’s veterinarians will have an easier time renewing their licenses this year – because for the first time they will be able to renew them on line.  This month marks the opening of a new website that will allow Maryland veterinarians to renew their licenses by submitting the required information and payments.  The website was developed by DECO’s Center for Applied Information Technology (CAIT) and the Maryland Department of Agriculture, which is the state agency charged with licensing and regulating Maryland’s over 1200 veterinarians, as well as veterinary technicians, and veterinary hospital facilities.

The website can be accessed by veterinary professionals using an address that is provided with their license renewal information.  Once they are logged into the site they can update required information that is associated with their license, and make a payment using a credit card.  When the information and payment are submitted the payment record is processed and the license renewal is recorded.

The new internet application was primarily developed by Genna Melamed, one of CAIT’s application developers, who worked closely with Courtney Stevens, a software developer at MDA.  Genna leveraged experience he has gained during his decade working on CAITS projects in support of numerous other state licensing and regulating agencies such as the MVA.

Genna used Microsoft .NET based technologies to develop the application and supported it with a SQL Server database.  Working together with Courtney, a data synchronization process was developed to keep the applications data base coordinated with the master veterinary database maintained by MDA.

The application has been online since earlier in the month and has already been used by several veterinary professionals for license renewal.

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Posted by Timothy Brooks

The 5 W’s you need to know for planning your next event!

May 17, 2012

Nicole

My job at Towson requires me to wear many hats – one of which is Event Planner. DECO’s Integrated Marketing Team (IMT) is comprised of five consultants; all well-versed in the areas of website development, social media, print and web marketing, and event planning and management.  Most would probably say the role of Event Planner was made for me, likely because I am the one always planning my friend’s birthday dinners, girl’s weekends, and family vacations.

When beginning the planning process I like to stick to an acronym we all learned in grade school – WWWWW. Also known as the 5 W’s or spelled out: Who, What, Where, Why, When. The answers to these questions will be the foundation of your planning process and they should be your starting point.

WHO: Who are your prospective attendees? Are there VIP attendees? What special needs might these attendees have (dietary, physical disabilities)?

WHAT: What are the objectives for this event? Do you have a draft agenda developed? Have keynote speakers been identified?

WHERE: What are your space and set-up requirements for this event? Will there be multiple locations? What location will be most conducive for the prospective attendees? Is there adequate parking?

WHY: Why are people going to attend? What will the attendee’s take-aways be?

WHEN: When is this event being held? Are there reoccurring dates? Is this an annual event?  Is it necessary to have a back-up date?

Answering these questions will help you to determine things like your event marketing plan, costs, logistics (food, set-up, parking, etc.), and what kinds of local accommodations you might need. The most important event planning advice I can share is this: create a timeline, stick to your budget, and stay organized. There are plenty of planning checklists and budget calculators available online to help you stay on track. I found my favorite planning guide when I was working with the Renaissance Baltimore Harborplace Hotel for a client event. I would suggest checking it out before planning your next meeting, small event, or large conference!

Starting to feel overwhelmed? Don’t worry; the IMT is here to help! We can create an exciting and effective marketing strategy to ensure you reach your goals for attendance and exposure. Additionally, our team can manage your entire event from selecting venues to coordinating catering and technology needs. We also handle all on-site, day-of logistics. Download our brochure to find out more!

The IMT was specifically created out of a need expressed by our partners in business, government, and non profit organizations and works in collaboration with the other DECO centers that provide IT services, GIS application development, economic analysis, corporate training, and more.

1 Comment | Marketing | Tagged: , , , | Permalink
Posted by Nicole Schiraldi

On the Map: 8 questions with Jim Cannistra

May 15, 2012

Ashley

As I have been working in the GIS field for 10 years in Maryland, I have met some interesting, talented, intelligent, and motivating GIS colleagues along the way.  Hopefully this blog series will share with you some exciting tidbits of information from each person who has touched my career in some way.

I was first introduced to Jim last year at a MSGIC meeting and then subsequent MD iMap technical committee meetings. I was immediately drawn to listening to Jim as he speaks because of his experience with both GIS and imagery and the way he communicates.  Jim is able to look at the big picture and disseminate information in a clear, concise manner.  Maryland is very lucky to have someone like Jim as a GIS leader!

Quick facts about Jim Cannistra

Tell me something fun about your job.
I like working for MDP for many reasons.  Our agency is a very GIS-centric organization.  The leadership within the agency recognizes and appreciates the value of GIS technology in support of smart growth and planning analysis work.   I am also fortunate to be able to work with a very committed, technically knowledgeable, and diverse team of professionals.   MDP has a long history in advancing GIS in the State and the data and tools we produce are used by a wide array of users in many different industries.  It has also been enjoyable learning more about Maryland. I have learned more about the geography and issues of the State during my 2 years with MDP, than in my previous 20 years as a resident.

What is one of your favorite hobbies?
I enjoy traveling, hiking, and visiting historic communities.  I also play tennis quite a bit in the spring and summer.

What is your favorite GIS book?
I tend to read more online publications and journals than GIS books.  With the technology changing so much it seems as if GIS books are outdated before they are even published.  It’s amazing to me that our industry has progressed to the point that there is now a “GIS for Dummies“ book available from Amazon.  I do enjoy looking at various Atlases from National Geographic and also like ESRI’s compendium of user maps distributed at their annual conference.  In terms of textbooks, I would have to say that Mark Monmonier’s “How to Lie with Maps” is a classic because it illustrates the importance of cartography and map design in conveying information.

1. What professional organizations are you active in?
Currently I am heavily involved in state-level activities through MSGIC and MD iMAP.   I am the Chair-elect for MSGIC so next year should be interesting in that regard.   I also try to participate to the extent that I can with URISA and the American Society of Photogrammetry and Remote Sensing (ASPRS).

2. How would you recommend others get involved in GIS?
For those who are just starting out — taking some online tutorials (many are available from ESRI especially), taking a class at one of the local universities, or attending one of the local GIS user group meetings are all good ways to get involved.

3. What resources would you recommend for learning about GIS?
There are a wide variety of resources available.  At the University level Towson, Salisbury, and UMBC have particularly strong programs.  Over the past year I had student interns from the University of Maryland and another from Morgan State and was pleased with their GIS skills.  At the Community College level, I recently had the chance to participate in a class with Community College of Baltimore County (CCBC) and was very impressed by their program.

I also think the MSGIC quarterly meeting, local user group meeting, and the ESRI special seminars present great learning opportunities.

4. How has GIS changed since you first started your career?
When I first started the focus was on building the GIS infrastructure.  Now the focus is much more on how to leverage those investments to solve problems.   Everything related to the technology has changed in terms of data availability, applications, user interfaces, systems infrastructure, networking, etc.  The one thing that has not changed is the importance of an organizational commitment and the allocation of resources (budget and people) to successfully implement and utilize the technology.

 5. Where do you see GIS going in the future?
For those that believe recent history is a predictor of future trends, the next few years will be exciting.  Despite the downward economic cycle we have seen major investments in GIS by Microsoft (Bing Maps), Google (Google earth street view, etc.), in data collection technologies (digital cameras, mobile mapping, LiDAR), and in GIS applications, ESRI (ArcGIS Online).   We are seeing a blurring of the differences between consumer-based users of GIS technology and professional GIS.  Within the next 5 years I think there will be an increased business focus to make sure the technology is being used to solve problems in a measurable way.  Maryland’s “StateStat” programs are an example of this.  I also believe we will see a lot more movement towards integration of technologies with GIS serving as the focal point.  Increased emphasis on visualization tools (3D, street level LiDAR and imagery) and the need/desire to support mobile users will also impact our industry.

6. Where do you see the job market going in terms of opportunities in GIS?
I continue to believe the job opportunities in GIS are strong.   I think this is especially true in the Washington, D.C. metropolitan region.  The D.C/Maryland/Northern Virginia area, along with the Denver to Colorado Springs hub (home to a lot of the satellite and remote sending/mapping companies) are the two strongest areas in the country for opportunities in public and private sector GIS.

Employment opportunities for people with GIS expertise in fields such as public health, planning and engineering, and the environmental seem to be strong.  In the past 5 years, opportunities in defense- related industries have been tremendous.  It will be interesting to see if that continues over the next 5 years.  I also think the increasing emphasis on professional certifications and accreditations strengthens the industry and increases opportunities for GIS professionals overall.

 7. How did you get interested in the field of Geography/GIS?
I have always been interested in geography and traveling.  After my first physical geography class as a college student at SUNY Plattsburg I changed my major to geography. My interest in computer mapping and GIS has continued since that time.  I became interested in State and local governments application of GIS when I started working for PlanGraphics.

 8. Did/do you have a mentor?  Who?
I have been fortunate over the years to have the support of, and learn from many individual in the GIS community.   A few key people that were influential earlier in my career include:

  • Dr. James Carter from the University of Tennessee:  He encouraged my interest in remote sensing and computer mapping.
  • Mike Kevany from PlanGraphics:  Mike taught me about the importance of the GIS requirements, design, and implementation process and was a mentor in terms of learning how to guide a GIS team.
  • Drew Dedrick (Montgomery County):   Drew’s support enabled me to get a foothold in the GIS community in Maryland.

More recently a lot of people at MDP and throughout the State (Bob Dadd, Graham Petto, Stephanie Martins, Kenny Miller and many others) have served as advisors, in terms of increasing my understanding of planning programs and statewide activities.

In case you missed the second installment of “On the Map,”  check out my interview with Barney Krucoff.

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Posted by Ashley Buzzeo

Integrating Social Media Gaming and Online Gaming into Your Marketing Plan

May 7, 2012

Jenn

Are social media and online gaming the next step for your organization’s marketing plan? Could gaming help you to reach your target audience? While we know that social media gaming and online gaming are becoming increasingly popular, there are still a lot of unanswered questions in terms of its application for business. I was lucky enough to speak with Ben Walsh, CEO of Pure Bang Games, and find out his thoughts on gaming and its future in marketing.

1. Is social media/online gaming becoming part of organizational marketing plans?
“I believe so.  We are being contacted by more and more companies who want a game to engage their audiences with games or game-like features on their sites.  The Gartner Group predicts gamification will be a key trend that every CIO, IT planner and enterprise architect must be aware of as it relates to business.”

2. How is social media/online gaming changing the social media/Facebook/online experience?
“Gaming is the #2 activity on Facebook, with over 50% of Facebook’s 800M users logging in daily to play games. According to a 2010 study, 90% of American tweens are playing online games. Games are becoming a huge part of our online culture and I predict that they will be a driving force in social network innovation over the next 10 years.”

3. What are some of the benefits of social media/online gaming for companies and users?
“The #1 benefit of online gaming is that it is a powerful tool for engaging your audience.  With people spending less and less time watching TV or reading print, a lot of companies are looking to games to reach the audiences they used to find on those mediums… what they are finding is that branded experiences in games are more powerful than in any other medium known.  Users will interact with the brand longer, remember the brand longer, have greater loyalty, and actually share the brand with their friends (if the game is good).”

As you can see, there are a lot of great reasons to consider including a game as part of your organization’s marketing plan. Only the future will tell if these engaging games have staying power.

Interested in learning more about social media and online gaming? Check out the Pure Bang Games website.

Photo credit: jscreationzs

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Posted by Jenn Lake

Reflecting on a Strategic Marketing and Implementation Project for Local Business

May 3, 2012

Sharyn

We’re happy to announce the completion of a 6 month project with Cyberguys, a local technology company providing computer solutions, service and sales.  This was a collaborative effort between 3 groups within DECO – the Center for GIS, the Integrated Marketing Team, and Regional Economic Studies Institute.

The first phase of the project focused on developing a strategy to help Cyberguys expand their reach. To accomplish this, we analyzed who their local competition is, what their services include, and how those businesses pricing structures aligned with Cyberguys. Cyberguys provided us with a comprehensive customer list that we were able to display on a map, allowing us to visualize where the customers live in relation to the retail store. In turn, this allowed them to see exactly where their customers are located – right around the corner or on the other side of town. We also recommended new customer bases to target as well as package pricing that would be attractive to those audience groups. The strategy also included suggested specific media outlets and provided a social strategy that will provide the guidance they need to launch their social platform.

The second phase of the project took our focus onto more tangible items which included messaging, print collateral and a new website. For the messaging, we kept it straight forward so that potential customers would know exactly what the Cyberguys do. We landed on

Cyberguys. Expert Computer Solutions Service and Sales. Priced Right and Hassle Free.

This messaging was integrated with selected imagery on various mediums (print and web) to create consistency in the visual branding. These visuals complimented Cyberguys’ established logo. For the print collateral, we designed two pieces – a direct mail postcard that can be easily updated for specific audiences and a 2 sided flyer that can be printed on demand for the store or business development meetings. We also developed all the copy. To meet Cyberguys’ needs, all of the collateral was designed using Microsoft Publisher allowing Cyberguys to easily maintain their print collateral moving forward. Finally, we developed a website for Cyberguys. We made recommendations on the site’s architecture and reworked copy for the site to work in this new organization. We provided a photo shoot at their store and voila! Their site was ready to be launched. The great thing about their site is that it was created using WordPress and is hosted in their own hosting environment so they were able to integrate some plug-ins and modify the design allowing them to have complete control of their site.

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Posted by Sharyn Grove

How Secure is Your Computer Network? Find Out with This Tool

April 30, 2012

Matt

Is your network PCI (Payment Card Industry) compliant, are you sure?  If you are like most of us you have heard of this and other similar regulations but don’t really know what it means without taking a course on the subject.

I have been researching some tools to perform a network vulnerability assessment for a graduate class and found one worth mentioning.  It comes from a reputable company based in Columbia, Maryland called Tenable Network Security and it can be downloaded here.

The Nessus Professional Feed from Tenable Network Security is a lightweight, no-frills network vulnerability scanner. It features the ability to scan local and remote systems for the latest vulnerabilities. With the Professional Feed, users also get access to a compliance configuration audit pack, which can add credential-based auditing for NIST FDCC/SCAP, DISA STIG, CIS, and PCI compliance, along with many others.  I really liked the idea of being able to add plug-ins for regulations that I am not an expert in, such as PCI compliance.

This tool is a very straightforward install. The small server component can be installed on a medium-size machine with at least 2 GB of memory. The installation itself is easy and only takes a few minutes after launching the executable installer. After the server is installed, licensed and started, it instantly downloads the latest vulnerability checks and is ready to go. The web GUI can be accessed from any machine on the network, and scanning can begin.  I really like this product and it was simple and straightforward to get up and running.  I learned a lot and it didn’t require me to know cryptic Linux commands or jump through hoops to get it running.

Check it out if you get a chance.  They now have a cloud-based option if you don’t want to maintain a Nessus server.  Download it and run a test scan against your network.  You can scan your home network for free.  You can run a scan using a default out of the box policy or get creative and create your own scanning policies.  Start looking at the reports and fixing the high priority items in your environment.   Be pro-active about network security and cut the “low hanging fruit” off the security tree.  Then get a ladder and go after the rest.

The downside to this tool is that it is not free for business use.  It costs $1,200 a year for a subscription.  However, this is a small cost compared to what you may pay in fines and loss of reputation when a hacker penetrates your network.  For instance, banks can be fined up to $100,000 per month for PCI compliance violations.  For a little upfront effort and cost to comply with PCI, you greatly reduce your risk from facing these extremely unpleasant and costly consequences.

Happy and Safe Computing!

Leave a Comment » | IT | Tagged: , , | Permalink
Posted by Matt Michels

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