From Greg's Head

Houston’s tech community is a buzz with the news that the Houston Technology Center was named by Forbes as one of the top 10 technology incubators “changing the world.” 

I couldn’t be more proud of the work that the HTC has done to achieve this milestone.  PKF Texas has been a supporter since the beginning and we’ve seen the growth and strides the HTC has made in the Houston, national and now international tech communities. 

Click here to read what Forbes said about the HTC.

Congratulations to Walter Urlich, Paul Frison and the many outstanding employees of the HTC reaching this milestone and notoriety!

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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 PKF Texas - Entrepreneur's Playbook® page of the PKF Texas website. 

The other day I was listening to a presentation made by a highly successful local CEO of a technology company with offices here in Houston.  One of the subjects he covered was the trials and tribulations of getting two previous competitive organizations working together collaboratively as one company.

I found that discussion interesting because I have begun to notice other common patterns in both business and leisure that parallel the CEO’s comments.  Here are some examples:

• I was on my way to watch a collegiate softball game the other day and a friend of mine said, “I hope you all do well this weekend”. He was on his way to watch the baseball team.  My response to him was, “I hope we win in baseball too.”
• I was visiting with a prospective client, and the Controller said, "the operations personnel cannot do anything right.  We have to spend hundreds of hours each year correcting their mistakes."  When I met the operations personnel, they said no one ever asked them if they knew what they were supposed to do, or if the processes were correct for their business model.

 
In these two small examples, you can see how commitment and communication, or the lack thereof, contributed to both problems.  My friend is not committed to the success of the university’s sports programs.  He is committed to his sport, baseball. And only provides passive support at best towards the softball program.  And at our prospect, just the simple act of listening to both sides of the organization and leading a focused and directed discussion brought daylight to a highly poisoned relationship.

So what did our CEO do to get his organization working together?  I will leave you with two thoughts:
Aerial photography, and
Two bricks

Any guesses as to what they did?

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Life is either a daring adventure or nothing. -- Helen Keller

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I’ve written in the past about Lemonade Day and this year’s event is right around the corner. Local 2 Houston did a great segment on Lemonade Day last Thursday that I wanted to share with you: http://www.click2houston.com/video/23237757/index.html. PKF Texas’ President, Kenneth Guidry recently joined the Board of Directors, for Prepared 4 Life, the non-profit that runs Lemonade Day. They do a lot of great work in addition to the Lemonade Day festivities.

To quote them directly:
 

“Prepared 4 Life focuses on building assets in kids by integrating life skills, character education and entrepreneurship with engaging experiential, fun activities. We help youth take ownership of their lives and rise above their obstacles to become contributing and productive members of our society.

Lemonade Day is a great community wide program where we can all show Houston’s Youth that we care about their future. We can either teach them business or buy lemonade from their business. Lemonade Day is a nationwide event that teaches kids the entrepreneurial skills they need to be successful in the future. Youth learn to set a goals, make a plan, find an investor, sell a product, serve customers, make their own money, save for the future and give back to the community. All in a fun, family oriented community wide event.

Lemonade Day is on Sunday May 2, 2010. Youth ages 3 to 18 can participate and set up their stands at any location they choose.”
 

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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 PKF Texas - Entrepreneur's Playbook® page of the PKF Texas website. 

Unless you haven’t been on the planet the past few months, you probably have already heard about Software as a Service (SaaS).  We offer SaaS services to our customers with Dynamics NAV and I thought I would take a moment to talk about some of the benefits of SaaS.

SaaS is a new fast growing market leveraging, multi-tenant business model which is an alternative to buying software.  SaaS can cut dependency of software and provide a 3x to 5x cost advantage.

So, our advantages include:

1. One-time costs are much lower.
2. Avoids infrastructure, and supporting IT costs.
3. Speed of adoption and simplicity.
4. Enhanced security, with SAS 70 compliant Data Centers.
5. Access to regular updates.
6. Improved Scalability.
7. Quick one time evaluations provide for easier review of the model.

SaaS can be the answer to many emerging market and start-up organizations with an ERP business application that becomes the one-time, set and forget application.
 

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What happened yesterday is history. What happens tomorrow is a mystery. What we do today makes a difference - the precious present moment.  Nick Saban former LSU football coach.

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The Rice Alliance just sent out an email listing the winners for this year's Business Plan Competition.  Click here to view the entire list of winners.  Below is an excerpt from that email:

$1 Million in Prize Money Awarded at 2010 Rice Business Plan Competition
Houston sets the pace for entrepreneurial leadership.
New prizes push total prizes over $1 million for the first time in the 10-year history of the Rice competition!! 

More than 600 people attended the 2010 RBPC Awards Banquet last Saturday.

The Rice Business Plan CompetitionTM (RBPC) awarded more than $1 million in prizes to aid new start-up businesses at the 10th annual competition.   The $1 million in prizes is a new record for the competition, which was already the world’s largest and richest.

This year’s winner was BiologicsMD from the University of Arkansas.   They are commercializing a new drug to treat osteoporosis that builds bones better than current alternatives.   The runner-up was Rebellion Photonics from Rice University which is bringing to market the first-ever portable, real-time chemical detection optical device.  The third place team is GlucaGo from Indiana University and Purdue which has a device to revolutionize the way that injectable drugs are stored and administered.

The 42 teams selected from over 420 entries represent the best universities around the world. Teams were chosen to compete in six categories: life sciences, information technology, energy, green tech, social and other technologies, in the April 15-17 event.

All 42 presented their Elevator Pitch to audience of 500 on Thursday night!   Teams presented their full 15-minute business plans on Friday and Saturday. 

During the first 9 years of the Rice competition, 95 past teams have successfully launched their companies (and are in business today) after competing at Rice, raising more than $223 million in early stage funding.
For more info and to see pictures of the event:  www.alliance.rice.edu/rbpc

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HOUSTON – April 20, 2010 – Pannell Kerr Forster of Texas, P.C. (PKF Texas), the only Houston-based accounting and technology consulting firm specializing in Microsoft Dynamics NAV,  has attained Gold Certified Partner status for the sixth year in a row.  The Gold Certified Partner status was awarded in the Microsoft Business Solutions (MBS) and Information Worker competencies. As a Gold Certified Partner, PKF Texas has demonstrated expertise with Microsoft technologies and proven ability to meet customers’ needs.

The Gold Certified Partner Status represents the highest level of technical expertise, strategic thinking, and hands-on skills and is awarded to just four percent of all Microsoft Partners. PKF Texas is one of the few that also specializes in MBS, the family of Microsoft Dynamics financial applications, including Dynamics NAV, GP, SL, and CRM. Joining Partner Power International in 2009 expanded PKF Texas’ capabilities to address the needs of multi-national companies.

The Microsoft Gold Certified Partner Program helps customers identify companies that have proven their commitment and expertise in one or more specialized areas when delivering Microsoft technologies. Microsoft Gold Certified Partners must meet a higher set of criteria for each category, including enhanced certification and a portfolio of customer references, and are thus identified as the most skilled partners in specific solution areas.

“This award represents our continuing dedication to being the best in Microsoft technologies,” said Greg Price, Director, Consulting Solutions. “From our involvement in the MBS Global Development Team for Dynamics-NAV software to our ongoing commitment to the highest standard of client service, we are devoted to bringing sound accounting and technology solutions to companies.”

About Microsoft Dynamics
Microsoft Dynamics is a line of integrated, adaptable business management solutions. Dynamics products include applications and services for retailers, manufacturers, wholesale distributors, and service companies, doing business domestically or in multiple countries. Visit www.partnerpower.biz. 

About Pannell Kerr Forster of Texas, P.C. Consulting Solutions
The Pannell Kerr Forster of Texas, P.C.  Consulting Solutions group provides a variety of services to help clients conduct business effectively in today’s busy marketplace.  From examining and executing eCommerce strategies to business system design and implementation, Consulting Solutions develops solutions to fit the needs of every client.  Together with our strategic business partner Microsoft Dynamics NAV, PKF Texas and Consulting Solutions have the resources to meet any business challenge.

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As you are aware, over the weekend  the Rice Business Plan Competition awarded $1 million in prizes.  The Houston Chronicle ran a story about the competition on the front page of the Saturday's Business section.  Thanks to Reporter David Kaplan, for quoting me, Brad Burke, and the team from Purdue University, Microfluidic. It was a good piece and it’s good to see the Houston media give the competition the recognition it deserves. 

Watching the results throughout the weekend, two teams were virtually neck and neck throughout the competition.  Those two teams were:  Biologics MD from the University of Arkansas and Rebellion Photonics from Rice University. They split the Elevator Pitch Awards and finished 1-2 respectively in the competition.  I hope both teams were very excited about the conference.  I would encourage both teams to review the feedback forms that they received from their judges.

In addition, Jessica Shambora from Fortune was live blogging at the event, she did a great job of capturing everything.  Click here to read the posts.

I was very impressed with all the teams, the participants and the judges.  Many thanks also goes out to Dean William Glick of the Jones School at Rice; Brad Burke, Managing Director of the Rice Alliance and the members of the Rice Alliance staff which includes: Mary Lynn Fernau; Yanette Jimenez; Tom Kraft; Lea Aden Lueck; Quynhmai Nguyen and Kerri Smith.  Thank you Rice Alliance!

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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 PKF Texas - Entrepreneur's Playbook® page of the PKF Texas website. 

This weekend the Rice Business Plan Competition will be held and over 36 schools will be vying for $1 million in prize money.  Given that backdrop, I thought it would be good to consider some key tidbits for start ups.

Three bits of advice that I think can benefit all startups:

1. Have a great team working with you,
2. Don’t give up, and
3. Articulate the value of your product or service.

I have seen much written about the subject of startups, but I feel that these three areas are the key ones that help move you closer to success. 

With the long hours and tough roads to be navigated, it important that the people you work with have the experience and moxie to take on the world with you. Second, you will face rejection and the word “No” quite often.  Bill Gates experience with starting up Microsoft can offer no better example of not giving up on your idea.

But the last point is the key. Make sure you know the value of your product or service to your potential customer.  I have heard lots of great ideas and plans at Houston Technology Center, and the Rice Business Plan Competition.  But eventually one of the evaluators or judges asks the question, “What problem are you solving?”  Some of the answers are quite interesting.  A great idea does not always guarantee successful funding, or for that matter a successful startup.
 

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Great leaders are almost always great simplifiers, who can cut through argument, debate and doubt, to offer a solution everybody can understand. -- Colin Powell

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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 PKF Texas - Entrepreneur's Playbook® page of the PKF Texas website. 

With the pace of business moving faster each year, is your company doing everything to be accessible to your clients and prospects 24-7?

Mobile-ready websites are an increasingly common way to do this and are becoming a must in our world of mobile business. 

There are a few things to think about when developing your mobile site:

• Does your current web host have the capability to assist with this addition?  If not, ask if it’s something they will provide in the near future.  You should be working with a company that you can rely on to have the latest technology tools available to you. 
• Be sure your site delivers specific information – the mobile user isn’t surfing the web hoping to stumble on useful information, they are looking to retrieve specific content from your site
• Can the mobile user quickly access the information they need?  2 to 3 clicks might not seem like a lot on a regular website, but the mobile user probably doesn’t have time to click more than twice for the information they need

By moving your company into the mobile ready space, your clients and prospects will appreciate being able to access your company anytime, anywhere.
 

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PKF Texas is again sponsoring the Rice Business Plan Competition, April 15th-17th.  Karen Love, Director of Practice Growth is on the host committee and I will be the official CPA, tabulating the competition results.  As in years past, I will be live blogging from the competition, giving you insight into the process and the teams.

I received the below email from the Rice Alliance that I’m excited to share it with you.  This year, for the first time, the RBPC is offering over $1,000,000 in prizes!

“We’re pleased to let you know that on Tuesday we will officially announce that prizes at the 2010 Rice Business Plan Competition will exceed $ 1 million for the first time ever!   Back in 2001, the competition was founded with 9 teams competing for $10,000.  By last year prizes had grown to over $800,000.   In two weeks, 42 teams will travel to Houston to vie for over $ 1 million.   This would not have been possible without the support that you and other judges and supporters have provided over the last nine years to make this possible.  Thanks for helping to make this possible!
 We received a record number of entries this year.   We had over 420 applications for the 42 spots to compete.  This year’s competitors include Harvard, Stanford, MIT, Carnegie Mellon, Berkeley, Chicago, Northwestern, UCLA, Michigan, Wharton, Purdue, Johns Hopkins, Dartmouth, Texas (at Austin), Oklahoma, Arkansas, Baylor, and Rice.  In addition, we accepted international teams from India, Thailand, China, UK, and Canada.  

We will announce this year’s winners of the $1 million at the Awards Banquet at the InterContinental Hotel on Saturday night, April 17.  The Reception and Company Showcase starts at 6:00 pm and the dinner and awards start at 7:00 pm.”
 

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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 PKF Texas - Entrepreneur's Playbook® page of the PKF Texas website. 

Beyond benefits like health insurance, what programs does your company have in place to promote the health and well-being of your team members?

According to a study done by the American Journal of Preventative Medicine, employers who invest in worksite health promotion programs, can see a return of $3-$6 for every dollar invested over a 2-5 year period.  Documented savings are observed in medical costs, absenteeism, short-term disability and worker’s comp claims.

Here are several ideas you can use to create your health and wellness program:
• Negotiate with a local gym for a reduced membership rate for your employees
• Provide healthy alternatives to junk food in your office vending machines
• Add a health tips section to your internal firm newsletter
• Distribute pedometers and hold a walking contest, giving a prize to the employee who takes the most steps over a defined period of time

Health is a topic of conversation everywhere you go these days, what are you going to do to make sure your company is a part of that conversation?
 

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Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good. -- Joe Paterno

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