Monthly executive forums advise future entrepreneurs

Originally founded in the fall of 2005, the Georgia Entrepreneurs Society (GES) has already recruited nearly 600 members. Working with over 120 different companies, the Society is dedicated to providing services and support to help fast-growth entrepreneurs.

In addition to holding golf outings and dinner parties, one of the main features of GES is its monthly executive forums.

This month's forum, which focused primarily on how to attain investment capital, was held last Thursday, Feb. 1.

Over 25 men and women filled the Wardlaw building for the forum, which featured three very successful and powerful entrepreneurs.

The first, Tony Antoniades, is the general manager for the Advanced Technology Development Center, a company that helps Georgia entrepreneurs launch and build successful science and technology companies. Ed Rieker, another speaker present at the forum, has founded four companies, most of which are in the medical industry. The third and final speaker, Alan Urech, is a senior executive with over 30 years of management experience. Urech is also the founder of Stoney River Capital Partners.

With a primary concentration on investment capital, the forum discussed techniques and strategies for accruing capital.

Antoniades suggested working from one's own pocket. Another option is to go to friends and family, although the panel stressed that it is necessary to be careful when doing this.

"Tell them it's like a trip to Vegas," Rieker said, half jokingly, but also very seriously. "The chances of all the money disappearing is very likely."

The preparation and presentation of a business plan were also heavily discussed during the forum. While the possibilities of commercial lending and venture capitalism were quickly dismissed by the panel, panel members spoke extensively about angel investors and how to approach them.

As the panelists discussed what they thought investors looked for, common themes of leadership, experience and management emerged.

"Investors are betting on the jockey, not the horse," Antoniades said, using an illustrative analogy to make his point.

Urech, who actively invests in entrepreneurs, listed the five things he looks for in a business plan: leadership, market opportunity, business strategy, customers and revenues or predicted revenues.

"The product is not nearly as important as a good management team," Urech said.

Antoniades gave further advice on how to successfully present a business plan to an investor.

"Understand the business and the market. Show realism and passion. Most importantly, tell a story," Antoniades said.

All of the panelists also stressed the importance of a short business plan, since investors usually have hundreds of business plans to review and do not have time to sift through a million pages. Not only should a business plan be short, it should also be somewhat easy to comprehend. The panel suggested that if an eighth grader could not understand the business plan, it is too technical and complex.

Finally, the panel gave their "absolute no's" in regard to talking to investors.

"Don't ask them to sign non-disclosure agreements," Antoniades said.

"Never say there's no competition," Urech said.

Last but not least, Rieker dispensed some commonsense wisdom, saying that presenting entrepreneurs should never drop the f-bomb.

The GES has two additional programs for members: the Executive Training Program and the Strategic Business Incubation. The Executive Training Program is designed to assist budding entrepreneurs by holding additional presentations on topics important to starting a business. For example, the program holds sessions on business planning, developing a business plan, designing organizational structure, funding, consumer service, marketing, etc. The Strategic Business Incubation is more intense, as GES links individuals with highly successful entrepreneurs to help guide the development of their entrepreneurial ventures.

GES feels it is very important to be integrated on a college campus.

"There is a large community of innovative individuals, but they don't necessarily know the process of how to turn their ideas into a successful venture. With GES, they would be able to accomplish those dreams," said JP James, GES managing director.

Currently, there are over 200 undergraduate and 100 graduate students registered as part of GES. There are also over 150 alumni and approximately 20 participating faculty members.

Students who would like to get involved or become a member of GES can sign up at www.gesnow.com. Membership is 35 dollars per year.

As a member, students will be able to attend members-only events, as well as obtain access to business service providers. If interested in the Executive Training Program, there is an additional 45 dollar, one-time fee that will give students lifetime admittance to the courses.