Entrepreneurial Companies

My name is Zac and I am a recent grad from the Kelley School of Business at Indiana University.  Like many of you, I too was beginning to think about where the future would take me about this time last year.  With interviews and job offers just around the corner, I had absolutely no idea where I would end up come graduation.  But that's not the whole story.

As a sophomore at IU, I decided one day that it might be cool to start my own company.  I mean who doesn't like the idea of being your own boss and setting your own hours?  I would just start a company and the dollars would start rolling in.  It sounded like a great plan at the time so I founded an LLC and began creating Punch Energy Drink.  Well turns out that running a company wasn't as easy as I thought once the new wore off and we had to get down to business.  Within six months we had signed a contract with Anheuser-Busch and we were on store shelves and receiving plenty of media attention.  Things were looking great and I was thinking to myself how easy it was.  We had been featured as one of the coolest college start-ups for 2009 by Inc. Magazine, Fox Business Network ran a story, and BevNET had given our product fantastic reviews.  

However, the 2009 blues hit us hard and with the economy Punch was beginning to be less viable as a competitor among the cash kings within the industry.  We simply couldn't compete at a level that would allow us to grow and stay within our very limited budget.  A co-sponsored Indy 500 car and lawsuit later, Punch had seen better days.  That was my senior year, but I wasn't ready to give up on Punch or my entrepreneurial spirit just yet. 

The Orr Fellowship was the answer I had been looking for and an opportunity that I couldn't pass up.  I knew that they could place me within an entrepreneurial company and that I would be at one of the best places to work in Indiana with a network of people just like me.  The opportunity to be part of a program that allowed me to network with business leaders in Indiana as well as expand my social network while staying involved with Punch, was all I needed.  It was the perfect opportunity for me and it has turned out to be a perfect fit.

Now, as an Orr Fellow, I work full time for Author Solutions Inc. as a Marketing Specialist.  I primarily work with our core brands and partners within the online realm of brand awareness and development, but I also work closely with our product development team.  This is very similar to what we did with Punch and fits me very well.  When we launch new products we have to go through the same process that I did with launching Punch and it is a great opportunity to learn each part of the business.  The Fellowship is a great way to take a step into the real world without having to take a dive into the typical corporate America setting as just another number at company XYZ.


 

1. Didn't want to teach people how to dive
2. Didn't want to take out more than 6 people at a time

It's that time of year again; the Holiday Season has passed and in a short amount of time you'll find yourself taking down those holiday decorations that probably cover your entire house.  After you've mustered up enough motivation to finally begin this lengthy process, the last struggle is always the disposal of the family Christmas tree.  However, that's not going to be the case for you this year - the Orr Fellows are here to help!

As a non-profit organization, the Governor Bob Orr Entrepreneurial Fellowship places a strong emphasis on community outreach, civic responsibility, and self-sustainability.  As such, one of our annual fundraisers is called "Tree Luggers" in which we travel around the Indianapolis community collecting and disposing of Christmas trees while collecting donations.  But how does this fundraiser actually benefit the community?  Well, first, we are providing a service that for many people is extremely helpful.  More importantly, though, we offer an incentive to local churches and other non-profit entities that promote our fundraiser to their members.  For all money that is donated to the Governor Bob Orr Fellowship during Tree Luggers, half of the proceeds are given to the specific non-profit that created the referral.  In this way, we are able to assist Indianapolis-based non-profits in funding their efforts.

One of the most important values that the Indiana-based Orr Fellowship promotes is entrepreneurship.  Tree Luggers is a great example of entrepreneurship in action as the Orr Fellows carefully organize, plan, and execute the fundraiser from start to finish.  So what goes into Tree Luggers to ensure its success year in and year out?  Many of the Orr Fellows are "luggers," or those that travel to homes, collect the trees, and then later dispose of the holiday conifers.  Several others use their marketing expertise to help spread the word through social media like Twitter and Facebook, strategically placed fliers in the Indianapolis community, and specified email lists owned by several Orr Fellowship host companies.  We also have fellows that help create partnerships with churches and other non-profit organizations.  Lastly, a couple of fellows take on a financial role so that all donations and referrals are carefully recorded.  To participate in this fundraiser, and save yourself a great deal of time and effort, please sign-up here.  Remaining pick-up dates are:
 

For those that don't know much about the Governor Bob Orr Entrepreneurial Fellowship, it is an Indiana-based non-profit organization that provides jobs for recent graduates in fast growing Indianapolis companies.  Whether you're looking to start a marketing career, an entrepreneurship career, or maybe just a career in business, this is one unique fellowship program like no other.
 

I get asked this same question, or some variation of it, a LOT.  So many people are interested in the Orr Fellowship and the post-grads' careers that come through the program that this question is almost a staple of any new conversation struck.  Similar questions include:

What do you want to do after you finish?
What kind of venture are you interested in?  Technology jobs in Indianapolis?  Business jobs in Indianapolis?
What's the next step in your entrepreneurial career? 
Where do you see yourself in 5 years?

And the list goes on... and my answer is always the same: I need to wait and see.  This sort of answer frustrates most listeners, as it probably should.  Even worse, it frustrates me because I WANT to run a high growth start-up, full of all the excitement and wonder these sort of organizations are known for.  And Im young.  Now is the time to make mistakes, right?  Without having to worry about not being able to recover from a bust, with plenty of time to recover my life and my career right?

Yes.  But no.  A May, 2008 study by the Kauffman Foundation found that twice as many tech saavy entrepreneurs start businesses in their 50's as they do in their 20's, with an average age of start-up founders being 39.  Not 20, not 25, not even 30.  39.  To me, this says that experience is a great teacher, but more important is the kind of experience; being a former CEO of three failed start-ups at 30 might be great experience to lean on, but it probably isnt as effective as working within and learning how start-ups and small businesses should be run to build successful organizations.  There is a proverb that goes something like "yesterday's tracks are tomorrows guides", and this is a perfect example of that; so, the first part of my answer to "why havent you started a business yet?" is: Why make the same mistakes you can learn from watching others?

There is a second part of my answer, that is more complicated but Ill do my best: circumstance.  Start-ups, especially technology start-ups, need the right circumstances to survive and grow.  The team, the idea, the implementation, the market, everything needs to be well understood and in place before Ill want to touch money.  Many a good idea have failed because they were missing a piece of the entrepreneurial puzzle, and all the hard work, long nights, and missed sleep was wasted.  The thing is, we usually never hear about these companies, the ones that fail.  Thats part of what makes entrepreneurship so attractive: we really only hear about the successes, and so it seems (to the untrainted eye) that starting and owning a business is easy as apple pie.

For me, I will choose my opportunities wisely.  And only when I am ready will I become that ever-so-coveted title of  "entrepreneur." That could be tomorrow, or it could be never.  The numbers (and my own brain) are telling me it will probably be a while.  But then again, who knows?

We've all talked about our host companies and what makes ours better than the rest, but how are these companies chosen, and why would someone want to work for an entrepreneurial company in Indianapolis?  In order to shed some light on the Orr Fellowship host companies, I have given the information in a question/answer format.

Q: What is a host company's role in the Orr Fellowship?
A: Orr Fellowship host companies have the responsibility of providing their Fellow(s) with a unique experience that cannot be found anywhere else.  We want these companies to give their Fellows important projects that help them learn and grow as a working professional.  In addition, we require these companies to provide their Fellows with ample exposure to executive-level management so that they can become more comfortable in that type of an environment (this is exactly what we're talking about when we say that the Orr Fellowship is one of the best networking opportunities in Indianapolis).

Q: How are host companies selected to be involved in the Orr Fellowship?
A: Although this process may seem unscientific at times, that's probably because it is.  However, host companies are invited to join the Orr Fellowship if they've successfully demonstrated their ability to move at a fast rate of growth, created an environment that is conducive for great learning experiences, and have emerged with a product/service that has the ability to thrive in a changing society for years to come.  Overall, we seek out companies that we're confident will provide our Fellows with a wonderful two years of experiences coupled with strong promise of job security with that particular company.

Q: How long are host companies allowed to be involved in the Orr Fellowship?
A: There really isn't a straight-forward answer to this question.  There have been companies like ExactTarget and Angie's List that have been a part of the Fellowship essentially since the beginning.  However, some companies participate for a year or two while others take Orr Fellows for four, five, and even six years.  We typically allow host companies to be in the Orr Fellowship until they've grown out of the stage of being a small, entrepreneurial start-up or until they've shown that they no longer are a suitable company for an Orr Fellow to work in.

 This year the Governor Bob Orr Entrepreneurial Fellowship has agreed to allow twenty host companies to participate in our program.  Over the years we've made a conscious effort to grow the organization - and this year we've finally made the decision to double the size of next year's class.  So why have we decided to take so many more Fellows?  With an increase in name recognition in Indiana, and the development of a strong reputation among business leaders, we've experienced a tremendous growth in the amount of applications that we've received.  It's because of this recognition that the Orr Fellowship has proven itself to be one of the best places to work in Indiana.  With that, I want to go ahead and congratulate those candidates that have moved on to the final round of recruitment.  You've managed to set yourselves apart from the rest of the competition and have proven yourselves over and over again.  Good luck to you all on Friday and I look forward to meeting the Orr Fellowship Class of 2010!