Tag Archives: Entrepreneur

WIMS Client Spotlight: IntellyDoc (AI Contract Management/Automation for Lawyers)

Meet IntellyDoc (website/platform is going live this week): The platform designed specifically for lawyers that serves all your end-to-end contract management needs, and will soon leverage artificial intelligence (AI) technology as well. IntellyDoc easily solves every lawyer’s greatest problem – time management.

You can manage your contracts – from start to finish – without having to leave the IntellyDoc platform. IntellyDoc empowers you to leverage and take back the greatest commodity in the practice of law – your time. Which means you’ll draft contracts, automate document review and approvals (including e-signature functionality), gain critical insight with contract analytics, and close deals faster and more efficiently than ever before.

On the IntellyDoc platform, you get access to the following powerful capabilities:

  1. Smart Contract Template Design
  2. Automated Contract Review
  3. Custom Workflows
  4. Collaboration
  5. E-Signatures
  6. Data Analytics/Reporting and Extraction

The Real Benefits of IntellyDoc:

  • Less email tra­ffic
  • Less legal grid-lock and pressure
  • Less time in the weeds
  • More time to practice high value, meaningful work
  • More efficient workflows
  • More metrics to inform decisions & ensure compliance.

Here’s how it works:

  • Create, review, negotiate, execute, and store a document without leaving the cloud-based platform.
  • The built-in, smart workflows automate document review and approval, enhancing speed and accuracy of your workload.
  • Collaborate securely within the platform to edit and track changes, manage several versions of documents, and execute documents with electronic signatures.
  • Gain powerful insight into your contract repository with real-time reporting and analytics.

Why it works:

  • Our simple set up with on-going, hands-on support means zero installation rigmarole but on-boarding training support is here, if needed.
  • The platform supports various file types you interact with daily on Macs or PCs including: doc, docx, and pdf.
  • The secure and compliant cloud-based approach delivers metrics and transparency.

The website is being finalized this week, but if you’re interested in learning more about the platform, please email sales@intellydoc.com or click here to schedule your demo today.

Seed Round Capital

Notes on Raising Seed Round Capital

Throughout the past year I’ve helped lead a couple of seed round funding for company’s that I’m a co-founder of. While I’ve assisted and consulted many startups prior to that with raising money, doing it from this perspective was quite different. I won’t admit to knowing absolutely everything, but I’ve certainly learned a few things along the way that are worth sharing if you’re in a similar situation or considering it.

Seed round funding takes significantly longer than you think it will, even if you’re just going after “friends and family”. Start reaching out to potential investors at least 6-9 months before you think you’ll need the funds as it can easily take that long to close the deal and collect the check.

How are you going to structure your company, and the investment? Delaware C-Corp’s are a common favorite structure and get a ton of attention, but you don’t necessarily need to structure it that way. Do you want to offer a convertible note or do a straight equity investment (or equity crowd funding – which is a whole other game)? There are pros and cons to each of these decisions, so it really just comes down to preference and seeking expert counsel.

Get serious about documentation as there’s a ton of it required. These deals are a negation, so anticipate there to be red lining for edits on a term sheet contract, additional concessions will be asked for, etc. Secure an attorney to assist you with this side of things. While you can start with a template, always get approval from a professional before executing the deal and finalizing documentation. It will help you later.

Your valuation is likely too optimistic. But even then, a valuation is always subjective. Your true valuation is essentially what you can convince someone your company’s worth. Remember no business plan or pitch book in the history of the world was 100% accurate with their projections. Make sure your work comes across as thoughtful and realistic however to show the potential investor that you did the work and aren’t just flying by the seat of your pants.

A “yes” isn’t really a yes until the money has been transferred. Don’t count your chickens and start deploying capital until you have received it. You can get a yes (or what you perceive to be a yes) on a deal but then when it comes time to complete a wire transfer the investor can get a little gun shy. Things happen, whether they get push back from their spouse, the market takes a downturn, or perhaps it’s some other random unexpected occurrence, a deal isn’t truly closed until you have the money in hand.

Collecting the funds isn’t where it ends, rather it’s just the beginning. After you receive the investment capital, then you have to execute the vision, deliver on what you said you were going to, provide further documentation along the way, communicate progress regularly, and ideally turn a profit so you can return the capital back along with a sizable return on their investment. Not sure which is the hard part? They all are.

What are some of the things you’ve learned along the way? There are so many others to consider. I always love hearing, and learning from, a good case study about your personal experience raising funds if you’re willing to share.

SMALL BUSINESS WEEK 2018

WIMS Celebrates National Small Business Week 2018!

In honor of Small Business Week I’ve put together a collection of resources, information, articles, etc. for you to check out whether you’re currently an entrepreneur, if you’re considering becoming one, or if you simply want to support your local crazy roller coaster rider like myself. Also, to celebrate WIMS Consulting is offering a 20% on all services/projects for other small business owners. Just reach out and mention it during your consultation!

What is SBW?

From April 29th to May 5th, 2018, it’s National Small Business Week where the SBA (Small Business Association) recognizes outstanding entrepreneurs and small business owners from all across the 50 states and U.S. territories.

About: “Every year since 1963, the President of the United States has issued a proclamation announcing National Small Business Week, which recognizes the critical contributions of America’s entrepreneurs and small business owners.

More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.

As part of National Small Business Week, the U.S. Small Business Administration takes the opportunity to highlight the impact of outstanding entrepreneurs, small business owners, and others from all 50 states and U.S. territories. Every day, they’re working to grow small businesses, create 21st century jobs, drive innovation, and increase America’s global competitiveness.”

 

For North Carolina Companies:

Charlotte Business Resources – it’s Small Business MONTH for the CBR and the city of Charlotte (thanks Mayor Vi Lyles)! Check out everything going on. They’re using #31DaysofBiz too if you want to follow along.

Check out NC IDEA, they’re expanding the long-standing NC IDEA SEED grant program by introducing a Micro-Grant Pilot Program to award micro-grants to deserving companies not yet positioned for their traditional $50K seed grants. “The NC IDEA SEED Micro-Grant Pilot Program will award project-based, micro-grants in the amount of $1K – $10K to young companies looking to validate and advance their idea; or if further along, validate scalability where a small amount of funding would make a significant impact. Grant recipients will also receive mentorship and assistance from NC IDEA, as well as access to its wide network of advisors, partners and investors.”

 

Other SBW2018 Resources Worth Checking Out:

Entrepreneur Magazine SBW2018 HQ

Amazon Business Small Business Week Page

They also created: The Small Business Office Playbook is a resource endorsed by the U.S. Chamber of Commerce as part of its commitment to continually support small businesses’ needs and growth opportunities.

Vista Print 33% off entire site with code SMALLBIZ

Goldman Sachs 10,000 Small Businesses Program

Top TedTalks for when you want to start a business.

Consider These 9 New Ideas For Small Business Week PR (Forbes)

Why National Small Business Week Matters Now More Than Ever (Business.com)

Small Business Week 2018: Need money to get started? We’ve got you. (USA Today)

43 Reasons You Should Support Small And Independent Businesses (Forbes)

Market Contraction

The Coming Market Contraction & What it Means for Your Business

After a nearly decade long recovery period, it’s starting to look and feel like the time for an economic contraction is on the horizon. It likely won’t come for another year or so yet (if we’re lucky), but based on the history of our country, it’s certainly inevitable at some point.

A lot of the experts, economists, and pundits are starting to sound the alarm already. Things like the student loan debt crisis, 2018 interest rate hikes, the collapse of retail, and the toxic political climate, are all going to come to a head and likely trigger it. Forbes, Inc. Magazine, CNBC, Bloomberg, Seeking Alpha, and Newsmax are just a sampling of publications that have had a relatively recent article about it.

Now I’m very much an optimist, so I don’t want you to interpret my prediction of a market downturn as me being pessimistic. On the contrary, I think recessions can be an incredible opportunity for those who are prepared for them. Historically, a lot of fortunes were made in the years during and shortly after economic recessions. Not to mention, regardless of whether the stock market goes up or down, someone is always making a lot of money.

While I’m no economist, I am fortunate to be able to work with a lot of people with brilliant business minds and insight into the mysterious world of macro market forces. My suggestion (if you made it this far I’m guessing you care enough to read it) is to keep an open mind to start being proactive before it’s too late. I know a lot of you might be a bit too young to really remember 2008, but if you think back to past recessions they always seem to abruptly appear to come out of nowhere and catch people off guard. One day everyone is riding high with exuberance and the next day the bottom falls out. Clearly, it’s possible and likely that it happens this way again.

I’m not saying to run around being worried or dwelling on this. I’m simply recommending that you start tightening your belt a bit now while you can. Rein in those spending habits that may have gotten a little out of control lately. Perhaps consider cashing out on a few things while values are high and take some chips off the table. Otherwise, you could end up falling into the preventable trap of being forced to sell assets at the bottom.

Simultaneously you should also be going all-in on growing your business too. I know that may sound contradictory but investing in revenue/income generating activities is and always will be a wise move. A lot of people will be out of the game when the day comes and being able to perform a land grab because your business is dialed in can be a life changing opportunity.

Start thinking strategically about the next 1-3 years and what they could mean for you and your business. Instead of hiring several full-time employees consider leveraging a consulting firm so you have more flexibility. Make the commitment to increase your emphasis on sales and marketing even more. It’s tax season right now, so it’s a great time to really look at your numbers and analyze your financial data to identify weak spots or areas for improvement.

Hey, perhaps myself and others will end up being wrong about the timing of it. Maybe the next recession doesn’t come for another 3 to 5 years instead. Either way, would your business not be better off be taking those steps sooner rather than later?

I’d love to hear your thoughts on the subject! If you agree with me I’d be interested to hear what steps you’re currently taking. And if you think I’m crazy, I’d still like to hear why you think we have nothing but blue skies ahead.

Santa Tierra Mezcal

WIMS Client Spotlight: Santa Tierra Mezcal

Santa Tierra Mezcal is officially making its debut to sunny South Florida in Q2 2018! After dominating the ultra-competitive Mexican market and emerging as one of the best premium mezcales on the market, it was certainly time to expand to the U.S. The U.S. operation will be based in Miami, FL which will serve as the jump off point of the U.S. takeover.

The popularity of mezcal has exploded recently and the formally mysterious libation is now experiencing it’s time in the sun. Whether sipped on neat, on the rocks, or mixed into a tasty craft cocktail, mezcal always provides a full-on experience.

We’re excited to bring Santa Tierra Mezcal here for the people of South Florida to enjoy followed by several other key markets shortly thereafter. If you’re interested in carrying our brand in your restaurant, bar, club, or hotel, please let us know!

The Story of Santa Tierra Mezcal

Santa Tierra is a 100% Mexican company made by friends and now partners who decided to move forward in the fascinating world of mezcal. They now take this venture very seriously and focus on one sole objective; to make Santa Tierra the best mezcal ever produced, not just because of the flavor, but also for the dedication to premium quality.

Every bottle is made by hand in Oaxaca, Mexico. They chose the location of Sola de Vega in Oaxaca, because it was there where they found the best agave plants to produce their mezcal due to the nutrient-rich soil. Sola de Vega is also home to the masters of the handmade mezcal production, the “mezcaleros.”

Santa Tierra is manufactured from four different species of agave plant; el espadín (angustifolia), the arroqueño (americana var americana), coyote (americana oaxacensis) and Tobalá (potatorum succ), all of which are wild in the heart of the Sola de Vega. The agave grow for a period of 6 to 20 years depending on the variety. Santa Tierra utilizes the waters of local natural flowing rivers to help enrich their magueyes before being cut to provide a smooth and distinct agave flavor unique to the mezcal of Santa Tierra. They have an organic certification, so there are no fillers, added sugars, or worms, their mezcal is pure and ultra-smooth.

Going Streaking Gym Health

We’re Going Streaking! 29 Days Straight in the Gym (and Counting)

Don’t worry, this isn’t a, “you have to go to the gym or else type of post.” I assure you it’s business related. I want to speak more to the journey of becoming a better entrepreneur, the process of leveling up and what is required to make the quantum leap as a business person.

So, I’m currently in the middle of the longest consecutive day streak of going to the gym in my life (my program is below if you’re interested). It’s not like I haven’t been on a solid long-term routine before, there were just always at least one or two rest days each week. This time my whole approach and mindset is different. The actual working out part is important of course, I very much want to get into great physical shape. But it’s equally (or more) about the mental aspect.

As someone hyper focused on continuing to grow and scale multiple businesses, the level of discipline required to do so increases dramatically. For most of my career I’ve been able to get by and thrive with enthusiasm, spontaneity, and shear determination to put in whatever amount of time and effort was required. There comes a time when brute force, a little charm, and some passion doesn’t quite cut it anymore.

To make the jump to the next level you need to be disciplined, thoughtful, proactive, focused, and truly master time management, productivity, and efficiency. Thus, this streak of mine has been more about building up these skill-sets. I wanted to make a substantial commitment to something very difficult and challenging, and yet stick to it nonetheless.

I’m only accountable to myself in this endeavor, so it would be easier to quit, but knowing that and still progressing has been invaluable. Practicing making hard choices over and over again will eventually make them become easier to make, and without even allowing myself to consider the option of not doing it.

It’s not just the gym I’m doing this with either, it’s other subtler things too, like my 21-day streak of taking my Spanish lessons on Duolingo, practicing mindfulness, reading a daily devotional and chapters from books, and even flossing.

These things may appear trivial, but it’s about getting back to the basics and mastering the small things. This will make the bigger, high stakes business decisions of the near future become easier to make. It’s about building more confidence and self-assurance along the way. It’s about focusing more on, being more mindful of, and enjoying the journey along the way.

What kind of daily habits are you building to become a better entrepreneur/professional?

 

My Current Workout Program:

Monday – Chest/Bi Super-set

Tuesday – Back/Tri Super-set

Wednesday – Legs/Abs

Thursday – Shoulders

Friday – Arms/”Guido Pump” Bi/Tri Superset

Saturday – Legs/Abs (All different exercises than Wednesday)

Sunday – Cardio

Daily: Stretch, Push-ups, & Plank. I also do cardio every day as a warm up and cool down too. Yes, I know this hinders my “gainz” a bit all you workout warriors, but personally I find it worth it for the sustainability.

Supplements: Whey Protein, BCAA’s, Creatine (all from MRM), and Topical Magnesium Gel (Absolute Game Changer! Use code: Claire for 15% off).

Charlotte

Doing a Charlotte Deep Dive this February

While I’m fortunate that my business often takes me all over the country, every now and then it’s crucial to do a deep dive into my own HQ city, Charlotte, NC. I’ve made a lot of progress with growing my network here, but it’s still far from where I want and need it to be. And I don’t have nearly the client base that I’d like here yet either, and building it is one of my primary objectives for 2018.

Over the next couple weeks (while simultaneously continuing to run the business) I’m going to be back on the local networking grind with a vengeance. Below is the scheduled itinerary with links if you’re interested in joining me. Also, if there’s any events/organizations I’m missing please let me know!

February 7th; 6:00 pm – StartupGrindCLT

February 8th; 7:30 am – Bisnow’s 8th Annual Charlotte State of the Market (Commercial Real Estate)

February 9th; 8:30 am – Monthly BIG Ideas Exchange: Big Data (BIG – Business Innovation Growth)

February 14th; 8:00 am – PitchBreakfast

February 14th; 11:30am – Charlotte Chamber YP’s (CCYPs) Non-Profit Luncheon (Volunteer Matchmaker)

February 16th; 12:00 pm – Skookum TechTalks: Blockchain Technology: Uses Beyond Bitcoin and Cryptocurrency

February 22nd; 4:00 pm – NextGen Charlotte Business Journal – 2018 Money Management

If you’re in Charlotte, and planning to attend one of these, I hope to see you and to get to know you and your business better!

Entrepreneurs Zoho CRM

Entrepreneurs! Are You Aware of the Latest Offerings from Zoho CRM?

Forget what you think you know about CRM programs. It’s time for you to rethink the entire idea that you’ve been holding onto for years now. You know, that they’re too expensive, too complicated, and not useful enough to justify tackling those challenges. It’s just not true anymore. I understand why you think that way, but until you’ve seen the latest software package that Zoho CRM has been rolling out it’s simply misguided. Allow me to enlighten you a bit.

While I remain a raving Salesforce fan, I’m not going to suggest you take on a CRM program of that magnitude (unless your enterprise fits a certain set of criteria). I still love HubSpot as well but will save that for another post. Right now, I’m here to inform you about the crazy new suite from Zoho that you must at least take a few minutes to check out. If you’re a solo entrepreneur/freelancer, or you have all the way up to 25 employees it will help revolutionize and scale your business like crazy.

Now I was already geeking out a couple months ago when they launched Zoho One. But then they went ahead and added too more applications the other day which literally blew my mind. Zoho Flow “automates business workflows by connecting your apps. You can build smart integrations to break the information silos in your business.” This works for both internal Zoho apps and external ones as well, think Zapier or IFTTT. The other is Zoho PageSense, which is “the Complete A/B Testing and Website Optimization Software. Get ready to increase website conversions and skyrocket your revenue.”

Now, for transparency purposes I must inform you that a large part of my business is built around assisting companies of all sizes and industries to build and implement CRM programs like these. BUT, I legitimately use this one for my own business. It not only has helped me to get better organized with project management and more efficient and streamlined from an operations perspective but leveraging it has tangibly helped me to grow the revenue of my business significantly as well. I’m all about automating as much as possible and these new features allow you to do just that.

If you want to explore what incorporating a CRM program would look like for your business, reach out to me and I’d be thrilled to assist. Whether it’s Zoho or one of the many other incredible programs out there, we can certainly get you on the right track to implementing it correctly to start demonstrating ROI asap.

Before moving forward, to get a better idea of what all they have to offer, take a look at how they articulate it:

Zoho One is a revolutionary all-in-one suite to run your entire business—an unprecedented 35+ integrated applications on one account, with complete administrative control—for a price that will change the way you think about buying software.

Zoho One includes applications with complementary mobile apps so you can run your entire business on one suite. This is the real deal here: You’re getting full-featured, enterprise editions of the entire Zoho suite. That means being able to reach customers, grow sales, balance your books, and work in productive and collaborative ways from any device—all with a single login and password.

Zoho One connects your sales, marketing, customer support, accounting, and more, while also giving you contextual integrations to communicate and collaborate with colleagues, customers, and vendors. With an integrated suite like Zoho One, you’ll always have the right information in the right places, empowering your employees to do great work. Traditionally, this has required an astronomical IT budget and an army of consultants to force everything together. Zoho One makes all that cost and complexity a thing of the past.

Zoho One is enhanced by Zoho’s growing developer ecosystem, marketplace extensions, and global partner network. We’ve made Zoho One extendable so our technology partners can customize our applications to meet your unique needs, across a broad set of industries. These custom apps and extensions of our already powerful applications are made available to you through our Marketplace. Meanwhile, our 1,000+ implementation and training partners are available to help you locally as needs arise.

GNEISS

WIMS Client Spotlight: GNEISS 2017 Year in Review & What’s to Come in 2018: Reinventing the Financial Wheel

“The GNEISS team truly had an incredible year in 2017. It was filled with many milestones and growth as a company and platform. Our goal is to help our users unlock the power of the blockchain to take control of their financial freedom. We’re doing this by building the World’s 1st P2P Ethereum Blockchain Platform. More specifically, GNEISS is a business development and free market platform that uses blockchain technology to enable peer to peer financial transactions.

Clearly the explosion of the cryptocurrency market and popularity of Bitcoin and Ethereum has played a tremendous role in propelling us forward. The awareness and branding/marketing of the industry created a headwind which we have been able to leverage to our advantage.

Some of the key milestones we hit this year are included below:

  • Reached beta stage of development.
  • Enabled Secure Wallets via Segwit/Multi Sig (for bitcoin); we’ve incorporated all the features of Bitcoin and Ethereum onto our platform.
  • Established Fiat Currency Tethers (we were the first platform to do this!).
    • Including: USD, EUR, CNY, GBP, CAD, AUD.
  • Our GNEISS coin is now listed on the Ether Delta Exchange and being publicly traded, it will soon be on Bancor and others as well.
  • 140+ users and climbing.
  • Launched our online forum/blog: forum.gneiss.io.
  • We’ve grown our social media presence on multiple platforms and have released multiple videos to our YouTube channel.

 

What’s to Come in 2018

The market for peer-to-peer lending is growing annually, potentially reaching $490B by 2020 [1] Our aim is to bring borrowers and lenders on a single platform where those with access to finance can connect with those in need of finance, and reach mutually beneficial terms and conditions that are transparent and immutable. Through GNEISS, loans can be achieved using a legally verified smart contract and secured using crypto-currency. The smart contract is executed on the Ethereum platform, facilitating a peer to peer interaction, with the transaction details recorded on the Blockchain.

This enables individuals or companies who have digital assets to borrow against them, to generate immediate cashflow, without compromising the position of their assets. Borrowers can use their crypto-currencies as collateral on a safe, efficient, and cost saving platform. Similarly, lenders who have reserved digital funds can provide loans based on their risk tolerance and achieve higher returns than typical bank deposits.

By creating a win-win situation, on a decentralized and transparent platform, GNEISS is creating opportunities which have not existed in the cryptocurrency space. In short, GNEISS enables frictionless access to credit in a secure and scalable way.

1https://lending-times.com/2017/07/24/alternative-lending-and-cryptocurrencies/

In addition, the following are some of the highlights of what else is on the horizon:

  • Full platform launch set for later this year.
  • Ability to tokenize any asset in the free market that has value (everything has value and you will be able to assign a price to it).
  • We will continue to pursue getting listed on the Bittrex and Poloniex exchanges.
  • Improve our money/wallet management system.
  • Enhance user management and interface functionality.
  • Release new features, such as:
    • Create, transfer, mint, burn, exchange, tax, or pay dividends to any crypto-asset or smart contract on our decentralized blockchain-powered trading platform.
    • Ability to exchange tokens.
    • Ability to create new tokenized assets.
  • Mobile application launch.”

Stay tuned!