Bizdom U

April 12, 2011 at 3:04 am Leave a comment

I attended a presentation for entrepreneurs given by Dan Izzo, Training and Launch Chief of Bizdom U. Bizdom U provides a four month business development plan for entrepreneurs wanting to start a business in the city of Detroit or Cleveland, and is owned by Dan Gilbert, Chairman and Founder of Quicken Loans, and Owner of Cleveland Cavaliers. The training is free and they also provide a $1,500 living stipend. Those who get their business plan approved will get funding for their business and continued guidance. Bizdom U will have a share in the companies they help launch http://www.bizdom.com/program. Mr. Izzo talked a little about Bizdom U, and then gave 11 entrepreneur/business tips that we should remember when starting a business. It seems like he has read The Art of the Start by Guy Kawasaki and Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne.

These are Mr. Izzo’s tips…

1.       Numbers and Money- Entrepreneurs focus on helping people not making money.

2.        A penny saved is a penny- Spend more time getting sales than cutting costs.

3.       Every client, Every time, No exception, No excuses – Most people know about 150 people, so a bad encounter with one person is like a bad with 150 because they will talk about it.

4.       Be obsessed with finding a better way- Always try to make your business better.

5.       Always be raising your level of awareness-

6.       You will see it when you believe it

7.       Ignore the noise- These are the people who say it can’t be done

8.       Go deep or go to sleep 8.B Take the roast out the oven- Stop planning and preparing and just get started.

9.        Innovation is rewarded execution is worshiped

10.   Simplicity is genius- You should be able to explain your idea to a seventh grader.

11.   Every second counts

copyright of bizdom. com

A lot of what he talked about we have discussed in class so it was not new to me. I am glad that I was able to meet Dan Izzo, and find out about Bizdom U. The company is beneficial to people who don’t have the capital to start a business. Mr. Izzo also said they usually invest in businesses that get turned down by venture capitalist. I don’t want to use this for my current business idea. , but I may look into it for another business idea. The only problem I have found is that the class is offered in the fall, so I can’t take it while off for the summer. Mr. Izzo said they do this so they will be sure people are serious about starting a business in Detroit, and not just coming to town to take the course while on break. I can’t personally take advantage of this opportunity until after until after I graduate, but I told Mr. Izzo I would definitely spread the word.

Would any of you be interested in working with Bizdom U? Why or why not?

Ruqiayah Madany

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