Entrepreneurial Networks Burt Chojnowski 2005 National Business Incubation Association May 16, 2005

Benefits of E-Networking 90% of What Entrepreneurs Learn - They Learn From Their Peers Successful Role Models and Mentors Re-Define Failure as a Step of Innovation Senior Management Development

Why It Works Tap into Power of Collective Wisdom Not to Be Confused With Conventional Wisdom Power of Listening More Accurate, More Powerful Decisions

Changing the Culture Changing the Attitude About Startups Re-Define Failure as a Step of Innovation Changing Personal Culture - Juggling Priorities - Crisis Management - Heavy Workload - Mistakes - Anxiety

Mentoring Networks 2nd Stage Companies - Move from Ordinary to Extraordinary Early Stage Micro Enterprise Art-Preneurs Food-Preneurs Retail Entrepreneurial Practitioners

Networking Events Networking Circles Boot Camps for Entrepreneurs Workshops and Seminars Networking Skills Marketing Sales Training Business Planning

Fairfield’s Virtual Incubation 2003 Grassroots Rural Entrepreneurship Award –National Center for Small Communities and Kauffman Foundation Known as SiliCorn Valley – 2004 Entrepreneurial Community of the Year - Community Vitality Center

Entrepreneurial Capital of Iowa 60 Startups Have Attracted $250 Million in Venture Capital Since /3 of Iowa’s Venture Capital Investment Software, Marketing, Financial Services, Media & Telecom Population: 9,600

Impact & Results Nearly a $1 Billion in New Equity 3,000 New Jobs in Fairfield - 25,000 globally Per-Capita Income has Tripled $10 million in New Construction (per year) New $6.5 million Civic Center Under Development - Theater and Convention Space Ranked #3 County in the Nation in Per-Capita Giving

Where to Start? Peer Mentoring Programs For “Second Stage” Companies Immediate Impact on Economy Role Models and Mentors for Startups Angels for Next Generation of Entrepreneurs

The CEC Ecosystem Community-Based Capital Entrepreneurial Support Services Peer Mentoring Early Stage Venture Capital Entrepreneurs Network of 2nd Stage Companies, Serial Entrepreneurs and Service Providers 90% of What Entrepreneurs Learn - They Learn From Their Peers

Accelerating 2nd Stage Companies Average Results Extraordinary Results Good to Great by Jim Collins Transition Point

Examples of Diamonds in the Rough 100 year old Company - 10 years ago – $3 million in Revenues Today - Growing 30% in 2004 to $60 Million 20 year old Company – 5 Employees and $500K Revenues 10 Years Ago Today – 120 Employees, $70 million in Revenue, $9 Billion Under Management

Burt Chojnowski Past President, Fairfield Entrepreneurs Association Managing Partner, Brain Belt Consulting Member, Iowa Capital Investment Board ©2005 Brain Belt Thank You