From Greg's Head

Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur's Playbook page of the PKF Texas website.

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Envision08 speaker Guy Kawasaki recently interviewed Microsoft CEO Steve Ballmer at the MIX08 conference. MIX is an annual event that brings together professionals in the consumer Web space - Web developers, designers, business and digital marketing professionals - to explore new ways to build next-generation Web experiences using Microsoft technologies, and create digital customer connections that drive business results.

The video of the interview and Q&A session is about an hour long, but you can read the transcript if you don’t want to watch the whole thing.

They discuss a wide variety of topics including social networking, the changes coming after Bill Gates fully transitions to working full-time at his foundation and Microsoft’s potential takeover of Yahoo!. It’s really interesting stuff, especially considering Kawasaki’s history with Apple. Ballmer definitely has set the course for moving forward. It’s going to be fun to watch what Microsoft does in the coming years.

On a related side note, I am going to be on a panel at Envision08. I’ll be one of three panelists talking about the top ten accounting mistakes that businesses make. I'm looking forward to it. 

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I’d like to share with you an article our Practice Growth team wrote about our International Connections speaker series. It appeared last Thursday on Accountingweb. 

“PKF Texas’ strong relationship with the international community in Houston begins with our 150 team members. They hail from 13 countries and speak 28 different languages. We are members of two international networks providing resources in 120 countries. To enhance our international ties we partner with the Greater Houston Partnership to present the monthly International Connections series. 

Featuring a different country each month, the series provides the Houston business community the opportunity to better understand Houston’s top international trade partners and interact with key officials who can help businesses expand into those markets. Consuls general, bilateral chambers of commerce and government trade officers present business opportunities and available resources. Featured countries have included Mexico, Pakistan and the United Kingdom. With 86 consulate offices, related chambers and trade offices located in Houston, there is a wealth of countries eager to present.

Spun off from the Greater Houston Partnership’s 2006 International Distinguished Speaker Series, of which PKF Texas was one of several sponsors, International Connections continues to emphasize Houston’s relationship with the international business community. 

International Connections has proven successful as a relationship builder for all involved. The UK event, for example, continued PKF Texas’ association with the UK Trade and Investment office at the British Consulate-General. We were invited to be a part of their Next Generational Biofuels conference and have encouraged clients and friends of our firm who are looking to do business in the UK to use the office as a resource.

For more information about International Connections and to view the schedule for upcoming events, visit www.pkftexas.com/intlconnections.”

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Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur's Playbook page of the PKF Texas website.

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Going green in your business is a topic of conversation everywhere I go. 

In the upcoming issue of the Leading Edge Magazine, hitting mailboxes and online in April features an article by PKF Texas Practice Growth Senior Manager, Raissa Evans, discussing ways your business can go green. We’ll also be recording one or two PKF Texas – The Entrepreneur’s Playbook tips based on Raissa’s article. 

The Houston Business Journal, as a member of American Business Journals, Inc. has recently introduced the Green bizjournal. To quote from the website:

“Greenbizjournal.com covers sustainability from a strictly-business point of view. We track the deals, people and innovations that are making the green industry the phenomenon of our age. We aim to help entrepreneurs, growth-company executives and the business community in general understand green trends, identify up-and-coming companies and, ultimately, be more successful.”

I’ll definitely be making a point to put that website on my list of regulars to read.

What green initiatives has your company put into place? Does your business have a “Going Green” champion?

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As you know PKF Texas is a sponsor of the Best CFO of the Year Awards, which is held in conjunction with Celebrate!Enterprise.

John Beddow, publisher of the Houston Business Journal send out the below email on Friday encouraging participation the 2^nd Annual Celebrate!Enterprise.  It is a four-day multi-event celebration designed especially for C-level executives and business leaders throughout the Houston region to come together to share ideas, gather insight from leaders across the country and celebrate capitalism and the entrepreneurial spirit.

Dear Friend of the Business Journal,

You're invited to join Houston Business Journal, presenting sponsor Sterling Bank and a cadre of some of Houston's best companies to the 2nd Annual Celebrate!Enterprise. It's a one-of-a-kind, four-day business festival with programs and events designed to inspire, educate and entertain executives throughout the Houston metropolitan area.

It all takes place at the Wortham Theater's Grand Foyer and Warehouse live in downtown Houston May 13 through May 16. For more information and registration go to http://www.celebrateenterprise.com.

This year's lineup of events include:

* The Houston Growth Summit - Sponsored by CBRE and the Greater Houston Partnership

* Battle of the Business Bands - Sponsored by The Tasting Room and Max's Wine Dive

* The Houston Idea*Ation Awards - Sponsored by Sterling Bank, Oracle, The Rice Alliance including the Jones School of Management, and The Jones Partners.

There's much more - and it can all be found at http://www.celebrateenterprise.com where you can learn more and register for any of our programs.

John Beddow
Publisher

Last year’s event was very well attended and I’m looking forward to attending again this year. I hope to see you there!

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Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur's Playbook page of the PKF Texas website.

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This week Houston was named the #4 Up-And-Coming Tech City by Forbes Magazine. Here’s what Forbes had to say about Houston:

“Houston hasn't exactly earned a reputation as a city teeming with techies. But that's changing. "Fifteen years ago, we had all the assets, but we weren't really developing them," says Walter Ulrich, chief executive of the Houston Technology Center, the state's largest technology incubator. "So all the leaders of Houston got together and recognized that the city needed to diversify its economy. There's been this tremendous transition."

Houston's strategy: Smash different discoveries together. To wit: Houston's itRobotics, founded in 2002, has developed new cost-cutting robots that inspect a variety of boilers and energy pipelines for structural flaws.

Other Houston start-ups are commercializing technologies originally developed at local research institutions. Nanospectra Biosciences, a local drug delivery company, is working on a nano-scale particle (pioneered at Rice University) that destroys cancerous tumors. The particles are injected in the bloodstream and accumulate inside cancerous tumors. When the tumor is exposed to a laser, the particles absorb the near-infrared light and convert it into thermal energy, destroying the tumor.”

An interesting back story on how the article came together: the reporter, William Pentland, contacted Christina Garza, media relations manager at the Greater Houston Partnership about the story. Christina referred him to Walter Ulrich, president and CEO of the Houston Technology Center [link]. Walter provided the background for the story and as you can see was quoted. It’s great to see the collaboration between the GHP and HTC lead to such a prominent feature. 

One more local connection to note is Rice University. The two companies mentioned, itRobotics and Nanospectra Biosciences were both founded based on innovations at Rice and are licensed through the Rice Office of Technology Transfer.

Kudos to Houston for providing the environment where technology start-ups can flourish. The main reason we created the Fast Tech 50 program was to change the mindset of those outside of Houston about our advancement in tech savvy.

The 2007 Fast Tech 50 companies are responsible for creating almost 3,250 jobs and over $387 million in revenues to the local economy. Houston is about more than just oil and the space program (which are pretty good in their own right!). No one industry dominates the Houston business climate anymore. The city's businesses are as diverse as its people and cultures.

Congratulations to the GHP, HTC and Rice, it’s great to see your efforts in the tech community being recognized on a national level.

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Shortly after I was named the Chairman for the Houston Technology Center Advisory board, I was interviewed by the Houston Business Journal. The article appeared in the February 15^th issue.

During the interview I discussed my thoughts about the future of the HTC which I would also like to share with you.

The change going forward is that the maturity of the organization is coming into play. For the first few years, HTC worked on establishment, credibility and more importantly survivability.

Now we're going beyond that and want to go into the next phase of evolution and that's how to establish a more permanent funding mechanism. It's time to have a more longer term view of what the major initiatives we want to accomplish are and the funding mechanisms we want in place, whether they be donations, investments or contributions.

We're trying to create a process by which a successful client company can financially help the HTC by providing a percentage of ownership in return for the mentoring and counseling provided by the HTC. We've had some preliminary talks and some concepts have been discussed. There's nothing official, but there is general agreement that HTC should try to have some ownership level. More study and discussion is necessary, but we are moving closer.

Houston continues to have a lot of idea generation. We're on top of our game in terms of promotion of new ideas. HTC is very excited about the prospects and what the future will hold in all our fields.

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More news about the Rice Business Plan Competition. FORTUNE Small Business has just signed on as the national media sponsor! Check out the press release below. The collaboration with FORTUNE will be great for the Competition.

FORTUNE Small Business Joins Forces with the Rice Business Plan Competition

FORTUNE to build on “world’s largest” Competition

HOUSTON – March 6, 2008 – FORTUNE Small Business is joining forces with the Rice Business Plan Competition (RBPC) as national media sponsor.

FORTUNE Small Business, who for several years hosted their own business plan competition, announced they are teaming up with the RBPC in 2008 to further enhance the already prestigious $600,000 international competition hosted by the Rice Alliance for Technology and Entrepreneurship (Rice Alliance) and the Jones Graduate School of Management at Rice University in Houston.  The 2008 Competition will be held on April 3-5, 2008.

“Our goal is to promote small business and a big part of that is helping entrepreneurs realize their dreams. Small businesses are the fastest-growing segment of the U.S. economy and contribute the largest amount of job growth and wealth creation,” said Brian Dumaine, editorial director, FORTUNE Small Business Magazine. “We want entrepreneurs to know that there are exceptional networking and investment opportunities out there for great business ideas and those offered through the RBPC are second to none. We also want to introduce FSB readers to some of the most promising business students and ideas in the country.”

The RBPC is the largest and richest intercollegiate MBA/graduate-level business plan competition in the world. Prize money nearly doubled in 2008 to more than $600,000 and the number of teams applying to enter the competition increased from 75 to more than 230 teams vying for the thirty-six slots.

The 230 teams from around the world were pared down to 36 and invited to compete in the three-day competition, April 3-5. Teams compete for cash and prizes in the elevator pitch and business plan competition that simulates the real-world process of entrepreneurs soliciting start-up funds from early stage investors and venture capital firms. More than 160 judges consisting of successful entrepreneurs, investors and business leaders provide valuable feedback to the presenters.

“FORTUNE Small Business is one of the best known national publications for business and it is a perfect match for the Rice Business Plan Competition, which in only eight years, has grown to become the largest and richest competition in the world.  Over 65 past competitors at Rice have gone on to launch their new ventures, which is perfectly aligned with the mission of FSB,”  said Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship. "This partnership with FSB will provide national exposure and opportunities for the teams that compete at Rice."

As a national media sponsor, FORTUNE Small Business will publish an article about the competition and profile top competing teams. The magazine -- a joint venture by the Fortune Group at Time Inc. and American Express Small Business Services -- is delivered to one million small-business owners, and because it appears online also, the article will generate even more national and international attention to the Rice competition. 

About the RICE ALLIANCE:

The Rice Alliance for Technology and Entrepreneurship (Rice Alliance) is Rice University's flagship initiative devoted to the support the creation of technology-based companies and the commercialization of new technologies.  The Rice Alliance provides entrepreneurs with a collaborative network and forum for support, education, and exchange of ideas.  It offers entrepreneurs access to the human and financial capital needed for success.

Since its inception in late-1999, the Rice Alliance has assisted in the launch of over 210 new technology companies, which have raised more than $350 million in early stage funding.  Of these, approximately twenty companies have been launched based on technology developed by Rice faculty and researchers.

The Rice Alliance was recognized as the #1 university entrepreneurship center in the United States in 2007 for “Enterprise Creation”, the creation of new businesses, by the National Consortium of Entrepreneurship Centers.  Also in 2007, the Princeton Review ranked Rice University among the top 25 graduate entrepreneurship programs in the United States.

About FSB:
FORTUNE Small Business is a general interest business magazine published ten times a year as a joint venture by The FORTUNE Group at Time Inc. and American Express Small Business Services. Each issue provides hard-hitting, informative coverage of the fastest-growing segment of the U.S. economy — small business. FSB is delivered to 1 million small business owners. Time Inc. is a wholly owned subsidiary of Time Warner.

About the Fortune|Money Group:
The Fortune|Money Group is the leading source for business news and information, reaching 20 million unique individuals through a world-class collection of publications including FORTUNE, Money, FSB: FORTUNE Small Business and the website CNNMoney.com.

###

For more information about the 2008 Rice Business Plan Competition and Team Sponsorship Opportunities, contact:

Mary Lynn Fernau
Marketing Director

Rice Alliance for Technology & Entrepreneurship

713-348-5374

mlfernau@rice.edu

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Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur's Playbook page of the PKF Texas website.

Posted In PKF Texas - The Entrepreneur's Playbook Comments Permalink

I received notice yesterday that the teams and schools have been chosen to compete in the 2008 Rice Business Plan Competition.  Congratulations to the 36 teams/schools!

Teams will compete in:
- Life Sciences (diagnostics, medical devices, therapeutics, biotech, drug development)
- Clean Tech / Energy
- Sustainability
- Information Technology
- Consumer Products
- Nanotechnology
- Other (RFID, coatings, sensors)

Texas Teams:
Rice University
Lab Extensions

Southern Methodist University (SMU)
LAB802

Texas A&M
AiB Pharma

University of Texas at Austin (UT)
qcue

University of Texas at Dallas (UTD)
MicroTransponder

Other U.S. Teams:
University of Arkansas
TruSource Technologies

Brigham Young (BYU)
Klymit

Carnegie Mellon
NeuroBank

University of Chicago
Etoh Pharmaceuticals

Duke
Cerene Biomedics

Univerity of Georgia
Boreas Snowboards

Georgia Tech
DiagNano

Harvard
enexra

University of Illinois at Chicago
BioRegenix

University of Illinois at Chicago
HeartSounds

University of Maryland
Callinex

University of Maryland
Remedium Technologies

University of Michigan
Potentia

MIT
Aura Biotech

MIT
Project Einstein

North Carolina (Chapel Hill)
Nolia Athletic Apparel

Northwestern
Wine with a Passion

Ohio State
Traycer Diagnostic Systems

Oklahoma
Perpetual Pharmaceuticals

UCLA
FiberView

Virginia
Husk Power Systems

Wake Forest
Filigree Nanotech

International Teams:
Aarhus (Denmark)
Immutell

BITS Pilani (India)
Vidyut Shakti

Cambridge (UK)
Auto TB

Hong Kong (HUST, China)
Zeopane Microneedles

IIT Kharagpur (India)
Diamas Coats

Lancaster University (UK)
GlucoFast

Waterloo (Canada)
Everlighting Innovation

Waterloo (Canada)
Throne Technologies

The competition will be held on April 3-5, in the Jones Graduate School of Management at Rice University, Teams will compete for more than $600,000 in awards. There are several new prizes this year including two new $100,000 cash awards from the Opportunity Houston program of the Greater Houston Partnership, plus a new $20,000 NASA Earth/Space Life Science Award. In addition, The GOOSE Society of Texas has increased their Grand Prize from $100,000 to $125,000 equity investment. The Dow Chemical Company is again offering this year a $20,000 cash prize for the “Dow Sustainability Award,”

All 36 teams are already winners and each is guaranteed to take home a cash prize.

More than 50 past competitors have gone on to successfully launch their companies, and in some cases have raised significant ($1+ million) funding as a result of participating in the competition.

The competition is open to the public. Don't forget, like in previous years I'll be live blogging from the judging room.

Schedule of Events
Thursday, April 3

8:00 – 9:00 a.m.: HTC Tech Champs (Note: Tech Champs is moving from Friday to Thursday)
5:30 – 8:30 p.m.:  Kick-off Reception, Company Showcase, Elevator Pitch Competition, & Texas Bar-B-Q

Friday, April 4

8:30 a.m. – 4:30 p.m.: Semi-final Round Competition
4:30 p.m. – 5:30 p.m.: Reception and Finalist Announcement

Saturday, April 5
8:45 a.m. – 11:00 a.m.:  Wildcard Round & Challenge Round
Noon – 4:00 p.m.:  Final Round Competition
6:00 – 10:00 p.m.:  Awards Banquet – Intercontinental Hotel

Winners of the competition will be announced at the Awards Banquet, Sat., April 5, at the Intercontinental Hotel, Houston.

More Information: rbpc@rice.edu or 713-348-3443 or Web site: www.alliance.rice.edu/rbpc

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As you may have heard, PKF Texas is a sponsor of Envision ’08, a conference for businesses with vision.  This conference will be one of the premier business events in Texas this year and is being hosted by Texas A&M University’s Center for New Ventures and Entrepreneurship.  It will take place in San Antonio from the evening of April 23 through April 25. 

In recognition of our sponsorship, the Center has made us a special offer that we can pass along to our clients and their employees.  For a limited time, members of our network can attend Envision ’08 for the price of $800 which is 40% off the published price.  To take advantage of this special offer, you need to register before March 15 and enter the promotion code “friends” during the online registration process.  I encourage you to register early because overall registration is limited and hotel rooms at the host hotel will fill quickly.

Envision ‘08 will provide a unique opportunity for business leaders to get first-hand insight into the issues that will affect their businesses from highly respected business leaders and visionaries. Participants will be exposed to tools and techniques for better funding, marketing, sales and recruiting to help drive company performance. Envision ‘08 will enhance the ability of entrepreneurs to realize their goals and strengthen their company’s bottom line. 

Conference attendees will hear from well-known authors and business leaders, including:

• Dr. Stephen R. Covey, author of the international bestseller, The 7 Habits of Highly Effective People. Covey was named one of Time magazine's 25 Most Influential Americans and is a recipient of the National Entrepreneur of the Year Lifetime Achievement Award.
• Marcus Buckingham, author of First, Break All the Rules: What the World’s Best Managers Do Differently. Buckingham is considered one of the world’s leading experts on employee productivity and management and leadership practices.
• Guy Kawasaki is an author and managing director of Garage Technology Ventures, an early-stage venture capital firm. He is also a columnist for Entrepreneur Magazine.
• Peter Schutz, former CEO of Porsche A.G., where he nearly doubled worldwide sales in his first year. He is the author of The Driving Force, Extraordinary Results with Ordinary People.

Envision ‘08 will also include workshops geared towards financing, marketing, productivity, immigration, multi-generational team building, creating franchise businesses and international business opportunities.  In all there will be about 40 high value workshops.

Envision ‘08, is being held at the Marriott Rivercenter Hotel, located on the world famous entertainment destination, the San Antonio River Walk.

Your registration fee includes:

• Access to all general sessions
• Access to the workshops of your choice
• All meals during conference hours
• Entertainment and networking sessions
• Access to business development resources available through the Texas A&M Center for New Ventures & Entrepreneurship

For more information on this unique opportunity please visit, www.Envision08.com.

See you in San Antonio on April 23!

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Calling all Aggies! You’ve read about it, you’ve talked about it with your fellow Aggies, you’ve even thought “Hey, maybe my company could be one of the 100…” Well, now’s your chance to join an elite group of Aggie business owners. Nominations are now open for the 2008 Aggie 100.

Created by Mays Business School's Center for New Ventures and Entrepreneurship, the Aggie 100 identifies, recognizes and celebrates the 100 fastest growing Aggie-owned or Aggie-led businesses in the world. The Aggie 100 not only celebrates their success, it also provides a forum to pass lessons to the next generation of Aggie entrepreneurs.  

To be considered for the Aggie 100 program companies (corporations, partnerships, and sole proprietorships) must meet the following criteria:

• Company Size and Longevity – The Company must meet both of the following criteria:
  • Have been in business for 5 years or more as of June 30, 2008, and
  • Have had verifiable revenues of $100,000 or more for calendar year 2005.
• Aggie Leadership – The Company must meet one or more of the following three criteria:
  • A Texas A&M University former student or group of former students must have owned 50% or more of the company from January 1, 2005 through December 31, 2007, or
  • A Texas A&M University former student must have served as the Company’s chief executive (for example chairman, CEO, president or managing partner) from January 1, 2005 through December 31, 2007, or
  • A Texas A&M University former student must have founded the company and been active as a member of the most senior management team from January 1, 2005 through December 31, 2007.
• Company Character – The Company must operate in a manner consistent with the Aggie Code of Honor and in keeping with the values and image of Texas A&M University.

The nomination form can be found here: http://aggie100.com/nominate/

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