For those in attendance at the first inX3 tech/innovation showcase in Indianapolis, I’m certain you have your own takeaways. If you missed out on the opportunity to inspire, innovate and invest – you knew that inX3 had to stand for something – allow me to offer a few nuggets from some of the presenters:For those in attendance at the first inX3 tech/innovation showcase in Indianapolis last week, I’m certain you have your own takeaways. If you missed out on the opportunity to inspire, innovate and invest – you knew that inX3 had to stand for something – allow me to offer a few nuggets from some of the presenters:
From the Almost Fail Reception:
- Kevin Bailey, former CEO of Slingshot SEO, on what a $60 million valuation of the company resulted in. “That didn’t embolden us. It made us fearful, scared. It was a choice of fight or flight – I chose flight.”
- Don Aquilano, Allos Ventures, after breaking down the largest failed investment of his career. “Two things I would do differently. Stand up and use your voice and do the right thing. It’s all about the people.”
- Jim Brown, former CEO of Haven, discussing the business that raised $1 million in less than two months. “The ease of raising money gave us false confidence.” On his eventual choices: “I lost that money. I needed to go home or I needed to do something bigger.”
Keynote session panelists were David Becker (First Internet Bank and numerous other organizations that he created or helped fund) and Canadian entrepreneur David Breukelman, who offered this gem (while speaking in The Gem at The Union 525): “Almost all great companies are 10- to 15-year overnight successes.”
Becker, who took First Internet Bank public in 2013, says the only advantage of that status is access to capital. For entrepreneurs, he noted “yesterday is ancient history; you learn from it and move on.”
His five keys to success:
- Be flexible
- Be opportunistic – when the markets are crazy is the best time to invest
- Hire great people – try to hire in advance, not when under pressure
- Have great customer service
- Take advantage of the experience of advisors – legal, accounting, etc.
One final takeaway from Becker on the liberal arts. “Get people with great communications skills and cut them loose.”