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Focus and Funding Are Top Priorities for Startups

Founders of three local businesses share entrepreneurship tips at Feliciano Center event

Posted in: Feliciano Center News

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Focus and funding were the themes shared by the founders of three local startups Jan. 27 at the latest of the Feliciano Center for Entrepreneurship at 麻豆传媒在线.

鈥淧ick one thing, and do it amazingly well,鈥 Livecube cofounder told the nearly 150 attendees while emphasizing the importance of focus when launching a venture. Price talked about earlier efforts at startups, including with his brother. “We learned a lot about being scrappy,” said Price, who also founded NJ Tech Meetup.

His company, , is a gamified phone-based voting system for events. Price said Livecube is targeting a $15 billion to $20 billion space related to events; his ultimate goal is to sell his company. Until then, Price plans to build the company to sustainability on his own, and advised attendees to do the same, avoiding capital infusions from the outside as long as they can.

, founder of Bizyhood, echoed a similar theme, saying raising capital should be a sixth or eighth step, not a first step.

鈥淚t鈥檚 so, so hard these days,鈥 said Barnett about raising money out of the gate. 鈥淵ou鈥檝e really got to bring your startup to the point where you鈥檙e showing some traction.鈥 He advised entrepreneurs to give themselves at least 18 months, and to try to make their money last as long as they can.

Bizyhood is a website that provides tools for businesses to manage relationships with current and future customers. Barnett is on his ninth startup, and said focus can be the one of the biggest challenges. 鈥淲e鈥檝e got to say 鈥榥o鈥 97 times to say 鈥榶es鈥 two or three times,鈥 he said.

Barnett also advised attendees to 鈥渄ate鈥 anyone they are thinking of partnering with on a startup, so they can get to know them first in a business context and see if it鈥檚 the right fit.

A date a decade or so ago eventually led to and starting HatchedIt. Brown鈥檚 date with Bischoff鈥檚 brother led to marriage, and nearly 10 years later the two sisters-in-law launched the new business.

HatchedIt is 鈥渁 virtual white board for managing your life,鈥 said Brown. Brown and Bischoff had high-powered careers on Wall Street before pursuing entrepreneurship. They have used not only their Wall Street smarts but also their experience as mothers聽to hatch their startup. Besides tracking events and commitments, HatchedIt allows users to create smaller, more private social networks, an aspect important to Brown after she realized she didn鈥檛 want to share photos of her young daughter with hundreds of people on Facebook.

The Feliciano Center for Entrepreneurship holds events about one a month focused on startups and entrepreneurship. To learn about more events like this,聽join 麻豆传媒在线 Entrepreneurs聽.