BizStarts Featured Company:    Forceout

Brothers Lee and Jason Jaramillo are using their professional baseball experience to introduce a new way for baseball and softball players to take the sting out of catching. The Forceout Pro is an inner glove (worn under the mitt) that protects only the parts of the hand that are most vulnerable for ball to glove impact, without additional material that "over-pad" the player. Forceout's fingerless design allows players to maintain tactile connection with their mitt, allowing them to have maximum control over their glove, while achieving peak performance.

 

On-field experience at the world's highest level have provided the edge for development of this product. Lee spent time with the Milwaukee Brewers organization before finishing his professional career with the New York Mets.  Jason played for multiple Major League organizations, most notably catching for the Pittsburgh Pirates from 2009 to 2011.  This product is designed for the player, by the player, and resulted in a product that helps youth players develop habits of proper catching techniques with confidence and without the fear of impact.

 

Forceout is perfect for youth baseball and softball players ages 9 to 18 as they become faster, stronger and begin to throw the ball harder. However, this product can be utilized by ballplayers of every age, as Houston Astros All-Star Catcher Jason Castro swears by it. These brothers have finally found a way to protect you where you need it most without taking away the feel of the game at your fingertips.

 

Know a ballplayer who could use Forceout? Check out forceout.com for more information!

 

 


 

A Note From the President

 

Could raising angel or venture capital be the worst thing for your new business?

 

BizStarts is proud of its Investor Forum which has been responsible for raising significant amounts of money for entrepreneurs who come to us for help.

 

With that said, there's another perspective raised by John Mullins, PhD a successful American businessman and current professor at the London Business school.  In his book: Customer Funded Business:  Start Finance or Grow your business with Your Customers' Cash the professor argues it could be the biggest mistake an entrepreneur ever makes.

 

Professor Mullins quotes Fred Wilson of Union Square Ventures "The amount of money that startups raise in seed and series A round is inversely correlated with success."

 

Why?  The facts show the vast majority of fast-growing businesses never raise venture capital.  The problem is, it distracts the entrepreneurs from running their business when chasing after money.

 

Entrepreneurs who seek angel and venture capital face these odds with rejection rates:

  • Y Combinator Angel list 97.1%
  • Angel List 98.9%
  • Andreessen-Horowitz 99.3%
Just as important, it lowers the stake of the founder in the business as they have to deal with the baggage of the shareholders agreement.  Professor Mullins says too much money makes you sloppy, stupid and most importantly, in love with Plan A because your funders want you to flawlessly implement it.  The problem is that Plan A rarely works.  Great entrepreneurs frequently pivot and change their business model. He suggests the following alternative approaches to raising money:

1.  Pay in Advance Models: this is what architects and consultants do
2.  Matchmaker Models: think of eBay and Expedia
3.  Subscription Models:  periodicals, Netflix, Costco
4.  Scarcity Models:  Sara
5.  Service to Product Models:  Microsoft, Audible Books

BizStarts teaches these alternatives to its entrepreneurs because we learned that in the world of investing the Golden Rule applies:  "He who provides the gold makes the rules."

We prefer to have entrepreneurs controlling their own destiny and being their own boss.

Dan Steininger

President & Co-founder


BizStarts to Honor Barry Mandel
at Our Inspirational Entrepreneur event November 13th!
 
You are invited to celebrate and honor Barry Mandel as BizStarts next Inspirational Entrepreneur.

In November of 1991, Barry Mandel formed Mandel Group Inc. (MGI).  MGI is an integrated real estate services firm with operations in development, construction and property management.  

MGI has developed, constructed, financed and acquired over $500 million in residential and retail developments.  Communities developed by MGI have received numerous awards for design excellence.

Following the program and award presentation, you will enjoy visiting the BizForge space and see some of our entrepreneurs in action while enjoying refreshments and snacks.

We will have an opportunity drawing of fun experiences and the winners will be announced at 6:45 pm.

Click here for more information about the Inspirational Entrepreneur event.

Mayor's Entrepreneur Week Event - Crowdfunding
 
The SEC and State of Wisconsin have approved the ability for entrepreneurs to raise money online from non-accredited investors.

As part of the Mayor's Entrepreneur Week BizStarts Milwaukee is hosting an informational crowdfunding workshop on Tuesday November 11th.  We will have Kate Bechen and Michael Dahm from Whyte Hirschboeck Dudek S.C. to discuss the guidelines that must be followed in order to comply with the law and new regulations, answer questions and provide real examples of companies that have used crowdfunding to launch their businesses.
 
Entrepreneurship Over Easy - 
December 5th at 8:00am
 
Entrepreneurship Over Easy is a unique breakfast series offering education, inspiration and food for thought, presented by University of Wisconsin-Whitewater, BizStarts Milwaukee, and USASBE.

This event will cover the topics of Economic Projections for the New Year: Wisconsin in 2015 with Dr. Russ Kashian, Director of the Fiscal and Economical Research Center and a Difference Making Sales Training and Performance discussion with Dr. Jimmy Peltier, Director of the University of Wisconsin-Whitewater Institute for Sales Excellence.
BizStarts logo with URL
 
 
BizStarts Featured Partner:  WWBIC

Earlier this month we gained a new neighbor.  The Wisconsin Women's Business Initiative Corporation (WWIBC) moved into the Schlitz Park complex.  WWBIC has provided quality business and financial education coupled with access to fair capital and financial products for more than 25 years. WWBIC's impact is seen through the many entrepreneurs, business owners and individuals

whom they assist.


 

Since WWBIC was incorporated as a 501(c)3 in 1987, they have:

  • Loaned $34.4 million to 3,500 business borrowers
  • Helped entrepreneurs create and retain 8,000 jobs
  • Assisted 50,000 clients
  • Coached 133 individuals and families in purchasing their own homes through their IDA program
 
 
BizForge Resource Hub's
ReadyReference Financial Resources


 

There are a wide range of resources available to businesses in Wisconsin, whether initiating a new idea or expanding a business.  The following links will guide you to many important resources to help start and grow your business.


The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interest of small business concerns.  They work primarily through loan guarantees extended to the private bank making the loan.

The Wisconsin Housing and Economic Development Authority offers innovative products and services in partnership with other lenders to link Wisconsin residents and communities with affordable housing and economic development opportunities.  Chapter 234 of Wisconsin Statutes published creating the Wisconsin Housing Finance Authority, empowering the Authority to make construction, rehabilitation and permanent mortgage loans to eligible sponsors of housing projects for low and moderate income households.

Wisconsin Women's Business Initiative Corporation (WWBIC) is a statewide non-profit organization offering assistance to women and men who are starting and growing a business including micro-loans for business owners.

Revolving Loan Funds:  Many local communities and not-for-profit economic development organizations have small loan funds to assist businesses.

State of Wisconsin Tax Credits:  The Department of Commerce offers a variety of state income tax credits for businesses.  These include credits for job creation, brownfield remediation and technology businesses.  There are also several tax exemptions  on machinery equipment, research and development and energy usage.

 
News and Announcements

Calling All College Students:  
The Commons is Accepting Applications


What's Happening? 
Event Announcements for Entrepreneurs

 

The Commons Launch

November 7 - 9, Milwaukee's Walker's Point Neighborhood

To apply as a student, click here.
 

WWBIC Annual Luncheon

November 11th at 11:00AM, Potawatomi - Expo Center  

 

Learn about Crowdfunding with BizStarts and Whyte Hirschboeck Dudek S.C. during Mayor's Entrepreneur Week - 
November 11th at 3:00PM, Schlitz Park RiverCenter Auditorium

Inspirational Entrepreneur, Barry MandelNovember 13th at 4:00PM, Schlitz Park RiverCenter Auditorium  RSVP Here

 

Wisconsin Early Stage Symposium

November 12-13 Monona Terra, Madison Wisconsin


Entrepreneurship Over Easy, December 5th at 8:00AM, Schlitz Park RiverCenter Auditorium Register Here
  
 
Tools for Entrepreneurs

Used by BizStarts, created by Bill Aulet, Managing Director of the Martin Trust Center for MIT Entrepreneurship

Here are 10 of the best digital tools to help you launch and grow your startup
A networking site for entrepreneurs, designed to help connect startups
 
 
Recognition for B
izForge Resource Hub 
Sponsors and Partners

 

As the region's premier resource for entrepreneurs and emerging companies, BizStarts Milwaukee draws expertise from a wide range of service and professional specialties that collectively foster Wisconsin's entrepreneurial spirit.  
 
BizForge Resource Hub enlists these experts to provide unique opportunities for training and development, market and/or product assessments, leadership planning and other consultations or services...available only to BizStarts engaged entrepreneurs and their businesses.  Why is this model important? More innovation, more successful launches and more jobs in our community.  Please join us in thanking our sponsors.

 






















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