By Allan Maurer
RALEIGH, NC—Many startups focus so intently on developing their product or raising money that they neglect sales and marketing. PlazaBridge, a new business management firm founded earlier this month through the merger of Robbie Hardy’s Silkroad Partners and Teresa Spangler-led CLAdventures, aims to boost startups over barriers that often stymie their growth, particularly, getting customers.
Managing Partner Richard Spangler tells TechJournal South, “We’re essentially a very experienced group of entrepreneurs and business people who saw a need in the marketplace to help entrepreneurs and emerging companies tackle some of the barriers they run into.”
“The approach is nothing like I have seen with other firms,” says hiralgo CEO Milton Hernandez. “The managing partners got down and dirty with me in the trenches and proved they know what they are talking about.”
As a result, Hernandez said in a testimonial statement, “We accelerated beyond my expectations in a time frame I did not think possible.”
Hiralgo is a Durham, NC-based technology startup focused on automating the process of creating analytic models out of data.
Getting customers should come first
PlazaBridge creates and employs a variety of services and programs that have proven successful in RBD (Rapid Business Development) and accelerating revenue successes.
Spangler adds, “Specifically, we develop programs to help emerging companies with sales and marketing. So many small companies are started by engineers doing a software or mechanical product.” While they frequently have game-changing ideas, they lack business experience and “sales and marketing go by the wayside,” Spangler says.
PlazaBridge, he says, helps them create a revenue engine within the company. “We help with their message and presentation, not only to the market in general, but before they go to a board, investor, or major customer engagement.
A practical approach
“We’re very practical in our approach,” he notes. “We stand side-by-side with company management and actually do the things we know work in an early stage company. We have significant experience with that. Between all of us, we’ve been involved in a lot of startups.”
Robbie Hardy, alone, for instance, has been involved with more than ten.
The company actually began in March, and started work before it formally launched. It has already worked with a dozen clients. “We started talking about this a year ago,” says Hardy.”
PlazaBridge is self-funded. “We think a startup company should focus on revenue, not on raising money, and we have to practice what we preach,” says Hardy. “Companies need to focus on the customer earlier than they usually do. If you have customers, raising money is a lot easier.”
That’s the old-fashioned way of starting a company, she says. “We’ve gotten too much in the habit of get an idea, write a business plan, get money.”
She acknowledges that life science startups generally can’t follow the get a customer first plan. “In biotech,” she says, “you dig a big hole and fill it with money.” Most biotech companies face a 10-12 year slog through clinical trials that can cost hundreds of millions to a billion dollars or more before a new drug hits the market.
Programs include Dreams Across America
PlazaBridge has a life sciences partner in Charlotte, but Hardy notes that most of the partners have extensive hardware and software experience.
“Obviously, our Rolodex works well in technology, but business is business,” says Hardy. “The same things apply.”
PlazaBridge conducts a number of programs such as its Deal Desk, in partnership with Square One Bank in Durham, where they help entrepreneurs sharpen their presentation whether to a potential investor, board, or customer.
It also conducts a DreamsAcorssAmerica program.
It is a national movement developed by PlazaBridge to help reignite the American dream. Designed to educate, inspire and empower people with the dream to start their own business, an intensive program that works with anyone, from those with an idea to the serial entrepreneur, to map out an action plan for turning dreams into reality.
“We go into a city for one day, gather the critical service providers entrepreneurs might need—lawyers, PR, HR, accounting, set up tables and do speed dating. The entrepreneur can ask all the questions he needs to get his company up and running,” says Spangler.
It will visit 25 cities across the country setting up intensive, day-long events where aspiring entrepreneurs will get the foundation and action plan along with follow on guidance and support needed to launch their business.
Charlotte program scheduled
In each city, a mentoring program will be developed so that local entrepreneurs have a network/community to work with and support their growth, both short and long term.
After completing the program, entrepreneurs with strong, market-ready ideas will be awarded one of the $5,000 to $25,000 grants to help seed their business.
PlazaBridge plans a Deal Desk event with Charlotte’s BIG (Business, Innovation & Growth) Council on Aug. 28. Its DreamsAcrossAmerica program will visit both major cities such as Atlanta and some secondary ones.
On the Web: www.plazabridge.com; www.dreamsacrossamerica.com; www.bigcouncil.com
Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org
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