I’ve asked it before, “The way you conduct business—is it meaningful to those left behind?” Is it?
I’m here at the Levy Entrepreneurship Group, talking with some of the most brilliant business minds in Chicago. This group’s been meeting for over 60 years. It’s the genius of Joe Levy, the prolific entrepreneur, investor, philanthropist—the son of a south Michigan Ave car dealer. Joe was an endless entrepreneur—constantly learning, constantly experimenting—the quintessential gentleman who gave everybody an at-bat—who spoke quietly but directly and told the truth as he saw it. He pushed people off the bag. “You’re lousy at this. What are you good at? Contribute. Help somebody.” People found inspiration and hope. Never a disparaging word about Joe. “If you don’t have a satisfied customer, you’re compromising your future.” He was the original automobile mega dealer, angel investor, entrepreneur, and philanthropist. “God put me on this earth to produce, not to consume.” Joe Levy is dead at 92. Continue reading
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by Mark T Wayne
“Admirable! Superlative! Top of the list! Gentlemen, you are indeed fortunate that I invited you here!” I study the greedy faces of my two compatriots—the estimable Donatas Ludditis (good old Don) as well as the execrable Loop Lonagan and his stinking bull terrier, Clamps. (Claims it’s a therapy dog.) We are here as judges, along with a crowd of luminaries from Chicago’s startup community for the finals of the tenth annual POWER PITCH competition. Today we will hear pitches from a host of exciting new companies. Yes sir! The enthusiasm is riveting.
Filed under angel, angel investor, app, Characters, Conflict, Education, Entrepreneur, Entrepreneurship, High Tech, loop lonagan, mark t wayne, Startup Companies, Startups, Story, vc, venture capital
Optimizing Human Behavior with a STEM Model
by Moises Goldman PhD
The Human Conundrum
For the last 15 years I have given numerous seminars aimed at optimizing executive and managerial performance in technology driven firms. The goal is to optimize departmental performance resulting in the larger optimization of an entire firm. As the theory goes: If the whole is the sum of the parts, and each part is optimized, then the whole is optimized.
These experiences have challenged my ability to communicate with people involved in STEM fields. This group represents a highly gifted segment of the population, and they tend to be very results driven. How does one reason, interpret, and convince scientists to modify their own behavior? Continue reading
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by John Jonelis
What happens when you invite the community into your high school and send your high school students into the community?
Amazing things! You create a THIRD SPACE in people’s lives.
Filed under angel, angel investor, Business, Characters, Education, Entrepreneur, Entrepreneurship, High Tech, mobile, Startup Companies, Startups
by John Jonelis
What happens when you give kids—highly gifted in math and science—a state-of-the-art facility entirely dedicated to entrepreneurship? This could be the best-designed business incubator on the planet and the students are going to create real businesses here. Hey—this is too much fun! It sure doesn’t look like high school to me! Where did they put the usual long halls walled by the usual rows of lockers? Where are the standardized rigid rectangular classrooms?
This is IN2, the new entrepreneurship center at IMSA—the Illinois Mathematics and Science Academy—the Statewide high school for the best and the brightest. It’s located near Chicago and students live on campus, as if attending a university four years too soon.
IMSA will host a big party and ribbon cutting for the new IN2 innovation space on the 30th of the month—that’s the 30th anniversary of the school’s founding. I had the unique opportunity to preview this amazing facility. Here’s a sneak peek: Continue reading
Insights from the Cornerstone Angel Meeting
by Stephanie Wiegel
Angel investment deals aren’t made on the spot as the TV show Shark Tank suggests. Instead, entrepreneurs are excused from the meeting after delivering their pitches. If you’re vying for early investment money, what’s said behind these closed doors can make or break a deal. Continue reading
by Scott M. Anderson
Angel investing is influenced by many factors affecting the startup including: technology, unmet demand, scalability and, most important, the founding team. These and many other factors will have a critical impact on the success or failure of the investment. However, there is one common factor to them all: Cash.
An investor and founder are in the elevator together. The investor says “Nice idea, how much capital do you need?” The founder says “$750K”. Investor says “Why $750K?” Founder says “We believe it’s the right amount based on other startups I’ve heard about.” Or she might say “It seems like the right amount based on the size of other angel investments.” Or she might say “It just seems like the right amount.”
Those responses are all wrong!! Continue reading
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by Jim Kren
Avid fisherman John Jonelis was enjoying some late night fly-fishing on the Pere Marquette River in Michigan when he had a close encounter with something not swimming upstream.
“I’m casting a fly called a Crystal Bullet with a number 4 hook on a sink tip,” said Jonelis. “This beautiful Chinook Salmon practically bends my number 10 Recon in half but after about an hour, I land it. Al snaps a picture, then all this happens. Me and my salmon get lifted by a glowing ray into some giant saucer-like ship that smells of fish inside.” Continue reading
by John Jonelis
“Oh, you’re an angel investor! Isn’t that risky?” I hear such drivel all the time. Are people afraid of outsized returns? Or perhaps they don’t understand risk, don’t know how to measure it, or how to take control of it. Yet all that is quite easily done and it’s a real charge to play the game using a Monte Carlo simulation (MC). I’ll show what’s likely to happen if you follow three simple rules. Then I’ll break one rule—just a little bit—and we’ll use the simulator to see what happens. Continue reading
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