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Entries in business (3)

Tuesday
30Jun2009

Need Funding? Pitch Your Biz Idea to Richard Branson & Investor Panel in The Perfect Pitch 2009

I hear all the time people talking about how they have the next million dollar business idea. Most of the time it’s in a casual environment over drinks, dinner, or random social gathering. Obviously this person doesn’t have their business plan sitting there in front of them. Most likely they aren’t going to crunch numbers and give detailed projections on the first and second years in the business.

What people may not realize, is this casual conversation may be the best test to whether their business idea is actually good - The Elevator Pitch. Can you break down your business idea and sell me on it being something that will make money in the time it takes for us to ride up an elevator?? If you can’t, then most likely, it’s not that great of an idea.

This is the concept behind The Perfect Pitch.  The Perfect Pitch 2009 competition is giving the opportunity to business people, entrepreneurs, aspiring entrepreneurs, or even students to submit videos of their Elevator Pitch and get a chance to get funded. At the conclusion of the competition, the top 3 finalists will present at The Perfect Pitch Entrepreneur/Investor Conference at The Ritz-Carlton in Marina del Rey October 26, 2009. To submit your business idea and get a chance to pitch in front of Richard Branson and our judges panel made up of investors and GET FUNDED, visit www.ThePerfectPitch.com.

Who will be listening? The judges panel is made up of heavy hitters from these investment institutions:

August Capital - $1.3 BillionVCFirm

Cal Cap Partners - $200 MillionVCFirm

Rustic Canyon Partners - $700 MillionVCFirm

QualcommVentures - $500 MillionVCFirm

Price Waterhouse Coopers – Business Consulting &VCIndustry Analyst

SIR RICHARD BRANSONAnd of course, our main guest of honor and breakfast keynote speaker who will listen to the top 3 finalists pitch their idea at the entrepreneur conference: Sir Richard Branson.

The conference itself is something special to be a part of. On top of Richard Branson speaking, there will also be many different experts from the business industry sharing their expertise, experience, and stories on how they became successful. To buy tickets to the Entrepreneur/Investor Conference, visit www.ThePerfectPitch.com.

Here’s a quick rundown of some of the participants in the business panel discussions we have put together for you:

 

 

INVESTOR PANEL

JOHN BABCOCK

John Babcock

Partner - Rustic Canyon Partners

An experienced venture investor, John Babcock has been a partner at Rustic Canyon Partners since the firm’s formation in 1999. John brings over 15 years of technology industry experience to both the firm and our portfolio companies. He focuses on investment opportunities in clean technology, technology-enabled services, outsourcing and advanced construction materials.

Rustic Canyon Partners is one of the largest venture capital firms in Southern California. Rustic Canyon invests in seed-stage and later-stage opportunities typically requiring a $2-4 million initial investment.

John Morris

John Morris

Chairman Emeritus - Tech Coast Angels; Managing Director - GKM Ventures

John is both an active investor and an advisor for early-stage companies. He is a co-founder of the Los Angeles branch of Tech Coast Angels. John’s has previous experience in investment banking and venture capital with Sutro & Co., Wedbush Morgan Securities and NewCap Partners. John started his VC career as a partner with First Interstate Venture Capital.

Tech Coast Angels is the largest angel investor organization in the country. GKM Ventures is a venture capital firm focused on IT companies in the western U.S.

 
 

TECHNOLOGY & TRENDS PANEL

Jason Nazar

Jason Nazar

CEO/Founder - Docstoc

Jason is the Co-Founder and CEO of Docstoc. Before starting Docstoc, he was a partner in a venture consulting firm in Los Angeles where he worked with dozens of startups. He holds have a BA from UCSB and his JD/MBA from Pepperdine University, where he was the Student Body President of both Universities.

Docstoc.com is the premier online community to find and share professional documents.

Jeff Tinsley

Jeff Tinsley

CEO/Founder - MyLife.com

Jeff is the founder of MyLife.com, which was formerly known as Reunion.com. Jeff is experienced in building profitable online ventures. Among his past successes are RealityTracker, GreatDomains.com and Intelligent Business Concepts. He has also invested in several other successful companies.

MyLife.com is America’s largest and most comprehensive people search service with over 30 million registered users.

 
 

ENTREPRENEUR PANEL

Steven Lipscomb

Steven Lipscomb

CEO/Founder - World Poker Tour

Steve founded the World Poker Tour with a vision to create a professional league of poker players comparable to the various professional sports leagues. His experience as both an entrepreneur and television/film producer enabled him to achieve his vision.

The WPT Enterprises, Inc. is a publicly traded company that oversees the World Poker Tour brand and various tournaments, programs and internet operations.

Wing Lam

Wing Lam

Founder - Wahoo’s Fish Taco

While surfing in Mexico’s Baja Peninsula, Wing and his two brothers would refuel on freshly-prepared tacos found in roadside stands. Wing’s family had operated restaurants in Brazil and California. In 1988, Wing and his brothers decided to import the fish taco they craved and give it a unique twist. Wahoo’s was born. They combined the freshest ingredients with Brazilian recipes and an Asian flare. Wahoo’s restaurants became a respected brand among avid surfers.

Wahoo’s Fish Taco operates 53 locations (and growing) in California, Colorado, Hawaii and Texas.

 
 

EFFECTIVE WEB DESIGN & SEO - BREAKOUT SESSION

Tony Adam

Tony Adam

SEO Manager - Yahoo!

Tony Adam has been involved in technology since 2001, with a focus on Internet Marketing, Product Development, Social Media and SEO. He has worked with many SMBs, startups, and larger organizations such as PayPal and Yahoo! Tony currently works at Yahoo! as SEO Manager for Yahoo! Audience Marketing, specifically on the Traffic Acquisition Team. He is currently involved in creating SEO strategies and tactical SEO advice for various Yahoo! Properties.

Yahoo! is one of the world’s largest internet companies with a network of integrated services and over 500 million users worldwide.

Jackie Peters

Jackie Peters

Founder - Heavybag Media

Jackie started out as a developer during Web 1.0 - her career went from there to screen design, to multimedia development and ultimately to building and executing communication strategy. In 2001, Jackie co-founded Heavybag Media. Her role is to develop marketing strategies that utilize social tools, community platforms, traditional and non-traditional media and technology in order to enable brands to engage their audience on a meaningful level.

Heavybag Media is an interactive marketing firm, which believes that the whole is greater than the sum of its parts, and understanding how all of the parts work together makes it even greater.

 
 

PR & MARKETING TACTICS THAT WORK - BREAKOUT SESSION

Tyler Barnett

Tyler Barnett

Founder - Barnett Ellman

Tyler Barnett was recognized as one of Business Week’s “Best Young Entrepreneurs Under 25.” He represents some of America’s best-known brands and has demonstrated a particular skill in using technology marketing to drive PR campaigns.

Barnett Ellman is a public relations firm dedicated to firms interested in targeting the millennial generation.

 
 

WHAT YOU SHOULD KNOW ABOUT BUSINESS FORMATION - BREAKOUT SESSION

Chas Rampenthal

Chas Rampenthal

General Counsel - LegalZoom

Chas Rampenthal is experienced in general corporate, partnership, venture capital and securities law. Before joining LegalZoom, he was a founding partner of Belanger and Rampenthal LLC and was an associate at firms in Boston and Los Angeles. Chas was also an officer and aviator in the United States Navy. Chas is admitted to practice law in both California and Massachusetts.

LegalZoom is a legal document service company that helps people create legal documents, including business formations (incorporations, LLCs and DBAs), patents, copyrights and trademarks.

Wednesday
11Mar2009

The Economy = Bad, People - Laid Off, Budgets - Cut...Me?? Business as Usual

Times are tough.  We all know it.  Seems every time I read an article or watch the news, there’s some talk of new layoffs, market crash, or budget cuts.  It’s a sad reality of the times.  I even have a friend who screams tales of a great depression and world war (he claims war is the historical solution to depression).  So as an entrepreneur, what do I do?  Do I call it quits and send in my application for unemployment?  Do I get discouraged that the State of California is sending I.O.U.’s instead of your tax return?

Historically, fear controls the masses.  This evolution of economic downturn could simply be a result of a butterfly effect triggered by the flailing mortgage industry - that put fear in an industry that was made up of a lot of people with little or no higher education.  Yes, the industry took a huge dive.  But let’s all admit it, people were getting loans that had no business getting loans.  As a result, people were making money they shouldn’t have been making.  As eastern tradition has taught us, Karma always balances out.  But us people on the Western side of the world, don’t heed these warnings.  Instead we panic because the news tells us to panic.  Thus we are controlled.

Me?  I feel the tightened grip of the poor economy as I fight for position in the vast world of business.  But I’m not discouraged.  The job and budget cuts are a necessary action to keep business going.  To me…loss of jobs is not a sign of a great depression, it’s just a good business move.  Let’s admit it…there’s a whole fleet of executive and personal assistants (or jobs that are creatively titled but still just glorified assistants) whose primary existence is to do the dirty work that executives don’t want/feel they should be doing.  Now that times are tough, that budget to pay the extra help is gone.  Big deal!  Business still moves on.  It just seems we all have to do a little extra work; get our hands dirty.

Regardless of the current economic status, businesses still need to advertise.  They still need to reach out to consumers to build brand recognition.  They still need to market.  Consumers are still buying.  Business are still contracting other businesses for their services.  People are just much more selective about who, why, and how they spend their money.  What that means to me is that the “bullshit” is being weeded out.  Trust me, if you provide a good service or product that people need/want and it’s at a reasonable price, your business will do just fine.  You may not be raking in by the millions like people were 4 years ago, but you will make it through this mess and come out on top in the end.

The bottom line is attitude and confidence - believe in what you do, believe in your succes.  When has whining about anything ever gotten you anything?  Stop whining about the economy.  Obama’s campaign was based on “change”.  He built upon a hope in the American people that he can bring change.  People bought into it, they joined him in saying it…and for a moment, as we watched those electoral votes climb to his victory, I think we all thought things were going to immediately change.  What stopped?  Nothing did other than us believing.  It’s the collective unconscious that drove that feeling of hope and change…not any real concrete action Obama was doing (he wasn’t even in office yet!). 

I don’t let this economy get to me too much.  I do admit there are times when frustration is that empty feeling at the end of the day, but life ebbs and flows.  It’s not always going to be on the up side.  But I refuse to fail, I refuse to give up.  So when people ask me how hard it is starting a business in this crappy ass economy, if I ever think my business is going to fail and I will need to go back to that 9-5 grind behind the desk working for the man, it’s an easy answer:  Times are tough, but making money was never meant to be easy… Business as usual.

Wednesday
17Sep2008

Hollywood: Invasion of the Clubs

There’s a problem here in Hollywood.  As our economy has been suffering the past couple years, the consumer spending habits have changed.  There is less “disposable” income going around, so you don’t see people wasting their money away on entertainment luxury.  In layman’s terms…the restaurants, clubs, lounges, and bars, are not seeing their venues packed night after night.  Here lies the problem:  Although the amount of money being spent on nightlife is undoubtably decreasing (which most likely means less people are going out too), the amount of clubs opening up in Hollywood seems to be increasing at the same rate. 

Millions are poured into these venues, and most of them are beautifully designed, but this isn’t New York.  Although LA Proper has a lot of people, the amount of people that go out in Hollywood is miniscual in comparison.  Yet the streets of Hollywood (West Hollywood too), have become supersaturated with clubs, lounges, and bars.  Who wins?  It’s survival of the fittest.  Building a successful club in this town is not just dumb luck (well sometimes).  There are so many factors with size, location, and the typical Hollywood bullshit.  So here’s a little breakdown of my take on it:

Goa - Hollywood

Goa was rockin this summer.  Themed around a resort island of the coast of India, the inside design exuded the glitz and glamor of Hollywood in an exaggerated gaudy style.  You may have noticed that I have been speaking in the past tense about this club.  Well that’s because it no longer exists.  Now I’m not a lawyer, nor do I work for the city, so the details about what happened will only be known by those who were involved.  But from what I understand, Goa did not purchase their “Dance Permit”.  It’s the city’s way of making sure they get their piece of the pie (I hear it costs around a million).  Despite not purchasing the permit, they installed kick ass dance floor that was surrounded by  tables staggered in different sizes and elevations off the dance floor.  It truly was one of the best designs I have seen my 4 years here in L.A.  The main bar was just as extravagant with hundreds of gold chains hanging off the ceiling.  Another unique aspect of Goa was that it operated as a restaurant before the club opened.  The food was actually pretty good too!! (Sushi). 

One fateful night, the fire marshal shows up (supposedly tipped off by Sam Nazarian of SBE - got to love the Hollywood gossip) and shuts down the club for the night.  They were sited for operating as a club without their dance license and a few months later, Goa is no more.  Bad luck for Michael Sutton again.  Seems he has become the anithesis of the Midas Touch.

The Kress - Hollywood

When you walk into The Kress, you will be amazed.  It’s obvious they spent a lot to transform that historic building into a “mega-club”.  First level entering in the front or back is the restaurant level.  The food is as you would expect…moderately overpriced.  I didn’t dig the Korean-fusion menu, but upstairs in the mezzanine area (which is a mini 2nd level on the restaurant floor) is a sushi area.  The sushi is decent and not too expensive.  Overall, it’s not some amazing dining experience that is a must try.

The rest of the building is made up of what seems like to be two separate  clubs and lounge on the rooftop.  Each club mimics Goa in gaudy interior design, but lacks the creativeness of the Indian theme.  The rooftop is amazing.  The view is unique competing only with Skybar and the Highlands (which few Hollywood scenesters go anyways).  The middle is filled with lounge couches all facing each other all sold for bottle service.  The outside is lined with cabanas on each edge of the roof.  In between is artificial black turf (seems like the good stuff that the NFL plays on) that gives you this plastic surgery type outside yard feel.  Unfortunately there is only one bar on the roof that makes getting drinks feel much like being in a herd of thirsty buffaloes fighting over one small drinking hole.

The downfall of The Kress will be its size.  To make back the reported 24-26 million that was spent on development, they need to stay busy.  The idea seemed to be that they were going to make the rooftop the “exclusive” area and fill the rest of the clubs (depending on the night, both club floors may be open or just one of the two).  What they failed to realize is that Hollywood is filled with insecure yet egotistical people.  So if someone doesn’t get a wristband to get on the roof, there’s no way their egos will allow them stay to hang out on the lower floors with the rest of the “peasant” people.  This undoubtedly will shorten the lifespan of The Kress in the Hollywood “Scene” and more than likely, it will quickly transform into a club like the Highlands…doors open to everyone.  I would imagine that when SBE and the Syndicate open their two new club/lounge this fall, there will be a significant shift in the “crowd” you see at The Kress.

The Stork - Hollywood

The Stork, recently opening within the past two months, hit a home run with the design.  The moment you walk in, you feel  the New York style design emanating off the concrete walls and industrial decor.  Despite the New York City influence, this is still L.A., which means they have a nicely sized outdoor patio.  The first night I was there, part owner DJ AM performed and with the velvet rope being one of the harder ropes to get through, the crowd was nothing short of amazing (which in Hollywood terms means there was a lot of hot girls, a few celebrities, and the ballers buying bottles).  I like the approach The Stork is taking on how they run their promotion.  It is all in-house; NO PROMOTERS.  Even though you might not see everyone one of your friends there for the next 6 months straight, a year from now, it will still be an exclusive spot that celebrities and scenesters still go.  in other words, the lifespan of this club will be much longer than most others.

The entrance to the building is actually quite attractive too.  There are two different sets of cement steps that lead up to two entrances to the club both similar to the stairwell of Upstairs in New York.  But before you even enter the clubs, you will notice the outside patio of the restaurant that is there.  Yep, they have a restaurant too.  I hear the food is really good (I’ll find out on for myself on Saturday).  As far as a business move, it seems there is a trend in Hollywood of Restaurant/Clubs or Lounges opening up.  Why?  Because it’s proving to have successful results.  When these establishments don’t have to rely strictly on revenue from bar sales, they are not forced to live or die by the trends in this town.  There’s a reason SBE is opening restaurant/lounge after restaurant/lounge, longevity and two separate revenue streams.

Coco De Ville - West Hollywood

This little spot takes advantage of premiere location in the small little nightlife strip on La Cienega in West Hollywood.  The venue is small and dedicates much of it’s real estate to bottle service (which equals $$$$).  Other than the small isles that people squeeze their way through on the main floor, the only other places to casually stand is by the bar on the second level slightly elevated above the first floor.  Coco is kept so dark, sometimes it’s hard for me to see without my infrared goggles…yes, it’s like looking at a club through the eyes of a mosquito.

There’s a small dance area and smoking outdoor patio, but other than that, there’s not much to it.  Regardless, you will pull up on a Tuesday or Saturday and see a gathering people (most very attractive) outside that can sometime get to be a nuisance to fight through unless you, yes I’m going to say it, “know someone.” 

Apple Lounge - West Hollywood

Apple opened with a flashy Fingerprint Communications (Big time PR Agency here in L.A. that many clubs contract) event   that included pass around hor’ derv and open bar.  The inside is not unique in style, it brings another New York influenced design with multiple floors and an outdoor area.  The downstairs made me feel like I was in some weird dungeon, but that probably was mainly due to the fact that it’s so tiny with only 150-200 person capacity.  It may do well because of it’s size, but the location is odd for a “straight” lounge as it’s right smack in the center of boys town in West Hollywood. 


Foxtail Restaurant & Lounge - West Hollywood

SBE’s latest creation is quite the joint.  I haven’t eaten there, but I hear the food is amazing and not ridiculously priced.  The decor is very dark, yet elegant, but it’s the lounge upstairs that is getting all the hype.  With the typical tightly run velvet rope, there are many nights you walk upstairs scratching your head as to why the line is so long outside…noone is inside.  The crowd is always the “scenester” crowd no matter if it’s empty with just a few people, or packed in.  There is one night I still remember, recently, when I walked into the lounge to find something close to 90% women.  A good friend of mine has coined the term “90-10 party”; and that it was.  What I like about these lounges is that it’s not necessary for them to let in the whole world to make money.  So the crowds are always good.

Kiss Lounge - Hollywood

This tiny little lounge sits atop Beso Restaurant (who’s food is amazing by the way).  Of all  the lounges, this might be the smallest.  The decor inside is what you would expect out of a place named Kiss: Very red, very love themed.  It’s another one of those dark ambiances (which I imagine may promote more kissing since people can’t see each others faces).  There’s one thing I have noticed…the music is always so freakin’ loud.  I’m hard of hearing as it is, and my ears are buzzing hot when I leave.  This is another place where the rope is run tightly.  There was even a review that was written by some poor girl who was bitter because she didn’t get in (http://www.yelp.com/biz/kiss-lounge-los-angeles).  I did write a candid response to it, but it seems that it was taken down.  She must “know” people.

Villa - West Hollywood

Villa is the essence of Hollywood “exclusivity”.  The way this venue is run, they’d rather have their place empty than let the likes of you in.  Pretty girls flock here, the occasional celebrity, and then your normal scenesters.  The redundancy in my reviews of these places is probably beginning to make you nauseous.  But I think you’re starting to get the point of this whole blog.  This is another place where location is rather inconvenient.  And I must admit I’m a little biased with the birth of this new ultra-exclusive lounge as it used to be a great music venue, Monroes, that I performed in.  It’s super tiny, so again, there’s only about 150-200 people they can squeeze in (which I’ve never seen it even close to be at capacity).  If you’re into “being seen”, then you probably have already been here a million times.

Crown Bar - West Hollywood

The only difference Crown Bar brings to the table is that it comes from owner Andy Fiscella (who also owns The Dime, and Winston’s), and it has the word “Bar” in it’s name rather than club or lounge.  Andy has successful traveled up the status ladder to owning “exclusive” venues, but by the non-traditional route: The Bar.  Inside the bar is nice and fancy.  The atmosphere is a bit different from the rest of the above mentioned which may be attributed to the simple fact that it has the word “bar” in it’s name.  People seem to take that and feel like they can be more casual about their socializing. 

The invasion hasn’t stopped though.  Due this fall is MyHouse the newest Syndicate installment.  This one will be interesting to watch as it will be the newly remodeled Garden of Eden that had one of the longest running of clubs in this town.  That’s not the only reason…Dodd Mitchel has partnered with David Judaken to create a very unique concept that will transform the venue into a house…a very expensive house.  Video game room?  Movie theater?  Hot tub/Pool?  This will be very interesting to see.  It’s up against stiff competition with the 8 (remember Goa closed) of the places I mentioned.  And with XIV (newest SBE restaurant/lounge, used to be known as Privilege) opening up this fall, they will have a brand new hot spot to compete with.

So there you have it.  Although I probably managed to bore you with 9 different reviews, this is just a small list of the who knows how many bars, clubs, etc (I know Tokios is about to open as something new and Hush opened this summer already).  How the hell will all these clubs stay alive?  There are so many options to choose from, how do these places keep themselves full?  In a town where trends wear out faster than cell phone batteries, a place like The Kress has a hard time staying a hot spot and keeping itself full at the same time.  That’s my opinion from a business standpoint.  From a guest of all these venues, it really has pushed me to the point that unless there’s some special event, friend’s birthday, or it’s awards season, the nights have become so bland and watered down.