Entrepreneurship

Ernst & Young Entrepreneur Of The Year

Thursday, 22 May 2008

Ernst and young entrepreneur of the year 2008 Utah region finalist

A few weeks back, we found out that I was selected as a finalist for the Ernst & Young Entrepreneur of the Year Award for the Utah region.

Last night was the finalist reception and I was able to meet quite a few of the judges, the sponsors, and the other finalists.

To all the other finalists I say good luck and congratulations! I am very proud to be included with the names/companies included in this year’s 25 finalists. It’s a list of incredibly talented and focused entrepreneurs, many of whom I know very well.

I’m honored to be able to represent Doba in this program. All credit goes to my family, Doba’s employees and their families, our vendors and advisory board members, and our thousands of satisfied customers. The award will be announced at a special black-tie gala event on June 27, 2008, at the Salt Palace in downtown Salt Lake City, Utah.

Here is the list of the 2008 Utah Region Finalists:

Agel
Glen Jensen
American Name Services
Jill Grammer-Williams
AtTask, Inc.
Scott Johnson
Companion Systems Design & Manufacturing
John Hansen
Al Tiley
Sally Tiley
Dianne Williams
Costume Craze, LLC
Kate Maloney
Discovery Investment Group
Paul Gifford
Doba
Jeremy Hanks
G Code Ventures / Utah Flash
Brandt Andersen
Harmons
Bob Harmon
Randy Harmon
Mindshare Technologies
Richard Hanks
John Sperry
Move Networks, Inc.
John Edwards
Mozy Inc (Berkeley Data Systems)
Josh Coates
Packsize LLC
Hanko Kiessner
ProPay, Inc.
Gary Goodrich
R&O Construction
Orluff Opheikens
Seastone LC
Warren Osborn
SnapLock Industries, Inc.
Jorgen Moller
Skullcandy
Rick Alden
Suh’dutsing Technologies, LLC
Travis Parashonts
Thomas Arts
Dave Thomas
Titanium Solutions, Inc.
Todd Sibley
United First Financial
Jonathan Bonnette
Don Jorgensen
Matthew Lovelady
John Washenko
Skyler Witman
Wescor, Inc.
Wayne Barlow
Xactware Solutions, Inc.
Jim Loveland
Xlear, Inc.
Nathan Jones

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Posted by Jeremy at 8:20 AM
Category: Awards, Doba, Entrepreneurship, Utah| 1 Comment| Trackback

Boy Scouts Had it Nailed

Thursday, 15 May 2008

When I was in the Boy Scouts I learned that my motto was to: “Be Prepared.”

About 2 weeks ago, I particpated in a Funding Universe LivePitch event in Sandy. The positioning to aspiring entrepreneurs was:

Come pitch your idea to a panel of local experts, to get feedback on presentation, or recruit /hire, or to build partnerships. If you do not wish to present come and be a part of the audeince and network with others entreprenuers and businesses.

Funding Universe picked 5 companies to pitch to the audience and this panel of judges:

Steve Grizzell: Innoventures Capital
Dan McPhun: Park City Angels
Jeremy Hanks: Founder and Chairman of Doba
Mark Bonham: Ray Quinney and Nebeker
Kent Thomas: CFO Solutions and member of Olympus Angels

One of the dynamics with these events is that you only get 7 minutes to pitch your business.

It was also billed as a great networking event, and my guess is that all told, about 100 people showed up.

I really enjoy helping with events like this. Helping entrepreneurs is one reason I try to do this blogging thing. Having said that, I’m a pretty busy guy. I know the other 4 judges, and I know all of them are busy too.

I have to be honest. The 5 companies that presented didn’t listen when they were scouts. In my opinion, they could have all done more to be better prepared with their presentations (especially to pitch their business in only 7 minutes). I really don’t think any of them practiced before hand with the time limit. If they had been more prepared, the feedback the panel gave them would have been more valuable than: hey, work on your presentation.

If you want to be an entrepreneur, you have to invest A LOT of your time so that when you have the chance to use other people’s valuable time to help you further your efforts you: a. get something valauble in return, and most importantly, b. you don’t waste someone else’s time.

My time there definitely wasn’t a waste. It was fun, it was great to meet some new people, I enjoyed giving feedback to the presenting entrepreneurs, and Funding Universe did a super job in putting it on. Just saying to “Be Prepared.” One of my favorite quotes is:

“Luck is what happens when preparation meets opportunity.”

My guess is that Boy Scouts are luckier as a group compared to others (at least if they follow their motto).

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Posted by Jeremy at 6:04 PM
Category: Entrepreneurship, Utah| Comment| Trackback

Doba Kiva Fund

Monday, 28 April 2008


Kiva - loans that change lives

Last November, Doba worked with Connect Magazine and the Utah Technology Council to bring Guy Kawasaki to Utah.

I posted at the time that because we charged attendees $10, we were able to make a donation to Kiva for $4,000.

Shortly after the event in November, we loaned that money to 40 entrepreneurs all over the world. Well, a few weeks back, we had our first loan repaid in full, so we were able to re-loan $100 of the initial contribution. We’re well on our way to support at least 200 small businesses from around the world with micro-loans in the next 5 years.

Check out the Doba Kiva Fund to see the portfolio of loans we’ve made.

If you don’t know about Kiva, go check it out. It’s pretty dang cool to help these people better their lives. And it literally blows my mind that of the millions of dollars lent, Kiva has a repayment rate of 99.89%. Can you believe that? These entrepreneurs really don’t know how to fail when someone reaches out a hand and says, here, borrow a bit of money from me to drastically change you and your family’s circumstances.

Spearheading the Doba Kiva Fund is one of the coolest things I’ve ever been involved with in supporting entrepreneurship.

To participate,signup for a Kiva account and do your small part to help better the world. (Enter jhanks ‘at’ doba ‘dot’ com in the Referral field and they’ll link your new Kiva account to Doba’s)

I guarantee this is worth your time. It’s not worth your money however because you have a 99.89% chance that you’ll get that repaid to you!!!

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Posted by Jeremy at 10:44 AM
Category: Doba, Entrepreneurship| 1 Comment| Trackback

UVEF / Power of Commitment

Tuesday, 18 March 2008

Last Thursday I spoke at the monthly luncheon for the Utah Valley Entrepreneur Forum (UVEF) down at the Novell campus in Provo.

I gave my Adventures in Entrepreneurship presentation. I’m hoping they put my slides and the audio from it up so that I can link to it. I really enjoyed the event, and I met some great people afterwards.

One of those people was John Pilmer. John is the President of PilmerPR. One of the 7 Laws for Entrepreneurial Adventurers I present is to “Leap before you look.” John told me afterward that reminded him of a quote he was familiar with:

But when I said that nothing had been done I erred in one important matter. We had definitely committed ourselves and were halfway out of our ruts. We had put down our passage money–booked a sailing to Bombay. This may sound too simple, but is great in consequence. Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, the providence moves too. A whole stream of events issues from the decision, raising in one’s favor all manner of unforeseen incidents, meetings and material assistance, which no man could have dreamt would have come his way. I learned a deep respect for one of Goethe’s couplets:

Whatever you can do or dream you can, begin it.
Boldness has genius, power and magic in it!’

W.H. Murray

That quote is from The Scottish Himalaya Expedition, 1951 that was written by W. H. Murray, a Scottish mountaineer.

It’s great. Here’s an adventurer talking about how they leaped before they looked. Entrepreneurs definitely fall into the group of those that dream and of those that begin their dreams with boldness. And if that means as an entrepreneur I can also lay claim to genius, power, and magic, I’ll take it. ;)

P.S. - For those interested, the “Goethe couplet” referred to by W.H. Murray is from an extremely loose translation of Goethe’s Faust lines 214-30 made by John Anster in 1835. For more info, see what the Goethe Society of North America found in their research.

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Posted by Jeremy at 8:50 AM
Category: Entrepreneurship, Leadership, Speaking| Comment| Trackback

“Seven Dirty Habits of Highly Effluent People” by Mike Rowe

Tuesday, 19 February 2008

Mike Rowe - Dirty Jobs

I’m a HUGE fan of Mike Rowe and his show on the Discovery Channel, Dirty Jobs. For those of you not familiar with this show, Mike starts each show with this narrative: “My name is Mike Rowe, and this is my job: I explore the country looking for people who aren’t afraid to get dirty—hard-working men and women who earn an honest living doing the kinds of jobs that make civilized life possible for the rest of us. Now… get ready, to get dirty.” Pretty much sums it up. (Dirty Jobs on Wikipedia gives you some more background.)

Fast Company featured Mike on their cover last month, and had a great article about his life’s journey to hist current position as the host and creator of Dirty Jobs called The Dirtiest Mind in Business.

As a sidebar to that article, Mike wrote the Seven Dirty Habits of Highly Effluent People. (And in case you missed it, Effluent is not the same as Affluent. Affluent = Rich. Effluent = Dirty)

So here are Mike’s 7 habits, and my commentary on each one and how my experiences have shown them to apply to entrepreneurship:

“Obviously, I’m ripping off Stephen Covey, whose seven better-known habits got my attention not so much for their content, which I find suspicious, but for their surprisingly modest number, which I find manageable. Here then, are my “Seven Dirty Habits,” each from a worker I met on the show, and bolstered by true stories of personal enlightenment and lingering humiliation.

  • Never follow your passion, but by all means bring it with you.

Love this one. Passion drives you. But passion is close to emotion. And following your passions and emotions can lead you the wrong way. Let your passion influence and support you, but don’t follow it blindly. Great advice.

  • Beware of teamwork.

Another kick butt one. Teams are a problem with entrepreneurship. A team’s role is to edit, not create. Individuals create so much better than teams. Someone needs to take the lead on the creation, the innovation. Then the team comes in later to do that last 25%. But individuals do the first 75%.

  • Vomit proudly and whenever necessary.

In the context of Dirty Jobs, I think what Mike means by this is that sometimes, you see something that makes you want to vomit. And his advice is to just do it. As often as necessary. It’s part of the job. I apply this to entrepreneurship by thinking, why wouldn’t you vomit on a dirty job? It’s because of the other people around. You’re embarrassed. If you were alone, you’d hurl away. As an entrepreneur, you can’t worry about what other people think of you. If you do that, that’s about all you’ll get done. And you have to tell people what you think, whether you work for them or they work for you. So vomit away entrepreneurs. Do it proudly and you’ll be a better leader.

  • Be careful, but don’t be fooled–safety is never first.

I think what Mike is saying here is that ’safety first’ is just a cliche. Just a buzzword. And that in reality, if safety were truly first, very few dirty jobs would ever get done. So keep your wits about you and use caution, but avoid cliches and hot topic ideas that really just fool you and distract you from getting jobs done.

  • Think about what you are doing–never how.

If you start worrying about how you are doing, you loose focus. Sometimes I think entrepreneurship is like beating your head on a wall. Eventually, the wall will break down. But it will take a very long time. And if you worry about how your head is feeling along the way, you’ll never knock down the wall. Just focus on beating your head on the wall, that’s what you’re doing.

  • Ignore advice such as “Work smart, not hard.” It’s dangerous–and moronic.

I have said this very thing so many times. It’s related to the safety-first one. Cliches and ideas that really just distract you from getting things done. In the end, you better just work hard. Give me some hard workers and I’ll beat smart workers every time.

  • Consider quitting.”

If you’re an entrepreneur and have never considered quitting, you’re not attempting something that’s hard enough. Entrepreneurs are out to change the world. And beating you head against a world-changing wall will make you want to quit sometime. Consider it. Then get back to work.

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I hope these ideas help you out. They’ve helped me realize that although I’ve seen Mike on some very DIRTY (in the sense of dirt, muck, grime, dust, excrement, etc.) situations on Dirty Jobs, being an entrepreneur is dirty in its own right, and these 7 habits can be applied pretty nicely.

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Posted by Jeremy at 9:44 AM
Category: Entrepreneurship| 5 Comments| Trackback