Interview with Dan Beenken of UNI's MyEntre.Net

MyEntre.Net is designed to help entrepreneurs get started. Why the heck would someone be crazy enough to start a business now in this economy?

Good question. As the husband of an entrepreneur and one who consults with them day in and out, I think one big thing is greater control of your destiny (yes, I did use that word). You are the boss. If you want a sick day, you take a sick day. If you want to go a certain direction with your company, you can do that. The beauty is that you are in control, and for many entrepreneurs, that, in and of itself, is the biggest draw.

As far as doing it in this economy, it's going to be tough, but it’s never going to be easy, even in a good economy. Take a look at this and ask me if these folks thought it was worth it - http://www.insidecrm.com/features/businesses-started-slump-111108/. Rough economies are often a point of inflection for new growth, new companies, and new industries to spring forth from. I think the thing to focus on in this economy is your debt load, and making sure that doesn’t get out of hand.

We're mostly focused on the creative industry here. What kinds of things are you seeing/doing in that area?
Well I am hugely creative myself, my own website (shameless plug) is a testament to that - www.danbeenken.com. Seriously though, I think the things we have seen in the creative space, have of course been tech focused. One that sticks out for me has been a firm that recently graduated from our business incubator - Cohesive Creative and Code – they have done some pretty cool branding and web projects for the likes of MTV, among others. What I really like about this firm is they are bringing work from elsewhere back to Iowa. Rather than just trying to carve out a slice of the already existing Iowa pie of work, they are actually growing the whole thing.

The other hot stuff right now is of course anything “app” related. Everyone wants to build a cool new “app” of some sort, and why not, when Apple can sell 600,000 of those phones without blinking an eye.

If we had a really good idea for a new business, why would we come to you and what would you do to help?
I think you'd come to us for a variety of reasons. The first thing any new business should be doing is some sort of business plan/marketing research plan. We get that and do it well. We have the ability to do market research for clients virtually through www.myentre.net or face-to-face via the SBDC. And while we won’t write the business plan for you, we can help you structure it and provide you with advice along the way. We have a good handle on funding as well and know where to look for the free money out there as well as the better loan products. Finally, the price is right. We are a free service, and when you are starting a new business, “FREE” becomes your favorite word.

Crappy marketing is the downfall of a great business idea, isn't that right?

I would tend to agree, although crappy “anything” can be your downfall. But if you can’t sell it, then you are gonna have a hard time moving yourself off the McDonald’s dollar menu.

And these days, marketing doesn’t have to cost arms and legs. You can facebook it (yes, it’s a verb now), twitter it up, use your website, email, and all sorts of other stuff to reach people without even spending a dime.

Tell us three things every entrepreneur or small business looking to grow should be doing.

1 Tell everyone - let people know what you are doing – they want to help. Especially us Iowans, we are good at that stuff and we want to help you succeed. If you keep it to yourself because you are afraid of people stealing your ideas, they will always be just that – ideas.

2 Buy more coffee – In order to get it off the ground, you are gonna have to work at it. That will probably mean long days/nights of more work and less Leno. And buy the cheap coffee. Whatever your start up budget is, add 30%. And whatever your time frame is, add another 2 to 3 months.

3 Run lean for as long as you can– The temptation may be to borrow, borrow, borrow, but that’s a scary prospect – especially right now. I’m a bootstapper (another shameless plug for my site ), so I continually push clients to find creative ways to stay out of debt while they are getting things going.

How about that Ali Farokhmanesh?

No kidding huh? I’m a Cyclone alum, so it’s been a tough transition to Panther Pride, but I am getting there (slowly). I was at the local Applebee’s recently and saw him in there. As a short guy, it’s nice to see other short guys doing well in a big man’s world.

What's more important - a great business idea marketed mediocrely (yes, we coin words around here) or a mediocre business idea with great marketing?

Easy one, mediocre ideas marketed well ALWAYS do better. See also - Snuggie (entertaining video here by the way), and Shamwow. How many of those are in our landfills now? A great idea marketed mediocrely ends up in boxes in your garage.

How can companies who want to help your mission get involved?
Partner with us. Become a presence on www.myentre.net. Share your own tips/advice via our blog space. Present a webinar topic. Help out with EntreFest. In general, promote entrepreneurship in Iowa.

Ever eaten at the Pizza Palace in Traer? That place rocks!
I haven’t, but I am a pizza guy, so may have to check that out. I also love my bar-b-q, so if you have suggestions there, let me know.

Any other words of wisdom for those looking to start up a new company?

Get started already! Quit reading this drivel – the one or 2 of you who have anyway– and get going!!!