Continued Growth for Michigan’s Digital Community…

I’ll tell you what, if you’re a digital innovator, you ought to join us here in Michigan.

Why, you ask?

Very simple- the community is scaled, growing, and most of all- well connected. Digital Edge MI, the organization which I chair is at the forefront of this growing business segment and has a phenomenal member base. Earlier in the day, member Catherine Juon, CEO and Catalyst of Pure Visibility was very kind in putting Digital Edge Mi (www.digimich.com) at the top of her list of where to connect with Michigan’s technology community http://blog.purevisibility.com/2008/05/where-do-you-connect-with-the-michigan-technology-community/. Catherine is among a near 100 member group of Michigan internet CEOs and Founders that meets quarterly to discuss business matters and meet with influential persons in our great and growing technology sector. If you’re looking to learn about how to be found on the web… Talk to Catherine and the Gang at Pure Visibility… www.purevisibility.com

The Web 2.0 / “Next Top Business Model” Panel at NEF (New Enterprise Forum) in Ann Arbor, Mi

Yesterday I had the privilege of being a part of a very dynamic panel discussion on Web 2.0 and what is true merits are to Michigan and its investment community. The Panel was made up of Rick Warner- CEO of ParkingCarma.com, Howard Brown- CEO of Circlebuilder Software and Circlebuilder.com, Steve Schwartz- CEO of RateMyStudentRental.com, and myself Joe Minock- CEO of J.Edward Media Group and Project AccuGet.com and Moderator Ian Bund- Chairman of Plymouth Venture Partners.

The discussion started off with Mr. Bund playing a “Simon’esque” role as moderator asking traditional VC questions such as whats your business model, are you profitable,  whats your exit strategy and so on. His remarks were rather pointed, and he did a good job in helping the panel establish a good rapport with the audience. Upon the completion of Mr. Bund’s questions, the audience was provided the opportunity to ask more Web 2.0 questions and the energy in the room shot through the roof. The questions were phenomenal, and I’d confidently say that my fellow panelists and I provided well thought out answers to every question asked. Being a Web 2.0 Entrepreneur, its was very nice to engage the New Enterprise Forum with the conversation that came from the questions and to start a dialogue that has been needed for some time.

Special thanks go out to Barb Shoffner and Diane Durrance for making this panel possible and also to my fellow Digital Edge Mi members for making the panel such a success.

Look for more to come from Digital Edge Mi soon!

The Michigan Digital Community Unites

Recently, Michigan’s new home for the digital entrepreneur was launched. Digital Edge Mi or DemiCEO has been the name of the organic, off line community of Digital Entrepreneurs, and now the group has a home online at www.DigiMich.com. Digital Edge Mi seeks to be the binding force for the rapidly growing community of Digital Entrepreneurs and Enterprises in Michigan. With lack luster support in Michigan, the culmination and connection of the community creates the opportunity for opportunity development and recognition of this new and growing business segment.

Currently the group is managed by it’s current Chair Joe Minock, with assistance from Steven Schwartz and Kristen Winter of www.RateMyStudentRental.com. The group was co-founded in 2007 by local entrepreneurs Tom Meloche of Procuit and Jim Elliott of CMR Innovations.

Additional support is provided to Digital Edge Mi by Ann Arbor Spark, Great Lakes Entrepreneur Quest (GLEQ), M.O.R.E., and many others.

Hey Michigan, GET A CLUE… The digital economy is the future!!

First and foremost, welcome to Michigan! Its a beautiful state with a screwed up government and a lot of people with great ideas. Time and time again, Crain’s Detroit Business has reported on the spirit of innovation here and the corresponding lack of support for it. Innovation is of the utmost importance and provide a great vehicle for getting this state back on its feet, yet there is still no concrete effort or idea for supporting and growing innovation based businesses here.

Sure, we have the 21st Century Jobs Fund but has it really done any good for the state from a short term perspective? It’s a great fund you know, something in the range of $2Bil earmarked for anything in Advanced Manufacturing, Alternative Energy, Homeland Security, or Bio Sciences. Why so specific? Are we treating special interests here? Seems kinda of fishy that a great majority of all funded businesses in Michigan are in the Bio-Sciences world, and if I’m not mistaken, does it not take in the range of 7-10 years for any BIO to turn a prospective profit? Look around Michigan, our great state has a whole lot more to offer.

Ever heard of the internet? It’s not a fad! No, really- it’s not! The biggest problem in Michigan is the legacy of the laggard, late adopter mentality. Let me be clear, WE ARE ENTITLED TO NOTHING. The Auto industry was started here, but they are not obligated to stay here. So, lets look at diversifying our economy and align with the “E” Economy and DO SOMETHING about our state wide economic conditions.

There are many compelling reasons to align with digital business. In my experience in overseeing a start up, the intrinsic value can be profound, highly scalable, and run on a very tight budget. I’m not saying that we’re going to see the next YouTube.com, Google.com, or even Microsoft pop up here, but digital business creates a unique, new opportunity. For the businesses in the E-commerce space, there is the prospect of bringing new dollars in from out of state paid through the MBT (HEY MICHIGAN GOV’T, MORE TAX REVENUE HERE). Additionally, these scaling businesses create new jobs, and typically are willing to hire people at a lower pay scale and teach them to do the job at hand. Digital business alone is not the silver bullet, but is something that needs to be seriously considered for the future of our state.

HEY MICHIGAN, GET A CLUE!!!

So you’ve got a digital / internet start up in Michigan?.. now what?

As the chair of a digital networking group, I am introduced to a number of new digital ideas weekly. I love it, but one thing that seems to be a trend is the lack of understanding of the digital world. My colleagues and I are very adept to the web market place and have a pretty good understanding of its intricacies, but our geographic location makes us the minority. See, we’re in Michigan, you know the place known to be the “World Capital of the Auto Industry”.

Being a digital / internet entrepreneur here is a tough case as the business majority just does not get us. The primary point of separation or misunderstanding is what is misconstrued as an “asset free” business model. In Michigan, there has long been a focus on manufacturing and industry of which a common trait is tangible assets and the high prospect of intellectual property in the form of Patents. Conversely, in the digital world, we do have assets, of a very high value in fact, but they are in digital format. In many cases, the assets are are patentable, but remain trade secret due to the nature of the internet. This seems to be a primary sticking point for those businesses that are scaling and fundable because the investment community is just not prepared to work with such an enterprise, or are they??? Its time for change here thats for sure, who’s interested in leading the charge?

In Michigan, we have a rapidly growing community of digital enterprises and start ups. Of the 50+ enterprises related to Digital Edge Mi many of which are fundable, but due to the economic environment combined with the legacy mentality, the digital business is being ignored. Our Digital Edge seeks to change this environment over time, but its looking to be an uphill battle. Of our members that are funded, the dramatic majority of their funding has come from sources out of state and that is a travesty.

So what is my underlying message to Michigan Digital Entrepreneurs? Stick with it, we’re going to make the system work, but its going to require getting involved. Best case is to join Digital Edge on Facebook and get involved or contact me directly!

Web 2.0 Marketing… Going for impact?? No Budget? No Problem!

I often laugh when I hear of these crazy and extravagant marketing schemes that the big companies are coming up with today, they are multifaceted and cost hundreds of thousands, if not millions.

Then I recall a little marketing campaign for a comedy central show that went nationwide over a matter of hours when weird little “Litebrite” signs were misconstrued as potential explosive devices. Obviously, the intent was to raise curiosity, not scare the Bostonian’s into thinking their town was under siege.

My point is that you don’t always have to think big dollars to make a big impression. Get creative and get focused on what you really want. Most important of all, know who you are engaging and do good by them!

If you’re interested in learning more about marketing on a budget, wait for more here or visit MediaMEME , a great blog on smart web 2.0 marketing.

Hello world!

Hello world, my name is Joe Minock. I am a serial entrepreneur. I love the challenges of the road less traveled. I am very sarcastic. I love life.

If you enjoy an honest opinion, you’ll like this blog. If you’re an intellectual smart ass, you’ll love this blog.

Be sure to check my various pages for my latest thoughts, ramblings, and foot in mouth dietribes on Life, Politics, Business, my Daily Commute, and anything else I can conjure up.