~ Paul McKellar, SV Angel | Square">

Make the decision to invest in your company very very easy. Make it easy for someone to understand what your company is, who your market is, why you’re the people to solve the problem. Good investors look at a lot of different deals and have to make fast decisions with little information. The easier you make it, the more competitive you are.

~

The genius of niches is they are too small for large competitors, allowing a nimble entrepreneur the breathing room to focus on an underserved audience. Once you’ve succeeded in that niche, you can leverage your success to establish credibility for your business to move into larger markets.

~

The genius of niches is they are too small for large competitors, allowing a nimble entrepreneur the breathing room to focus on an underserved audience. Once you’ve succeeded in that niche, you can leverage your success to establish credibility for your business to move into larger markets.

Last week, I wrote a post on the New Streak (where I blog for work), on my participation on a panel at the Entrepreneurial Imperative 2010, a conference focused on entrepreneurship and hosted here in Knoxville, TN.  I’d highly recommend this conference as it’s one of the biggest groupings of entrepreneurial minded folks I’ve seen in Knoxville.

My session was wittily titled “Social Networking – Untangling the Web of Cutting Edge Technology.”  I talked about marketing for startups and particularly on if Facebook or Twitter was a better place to start your marketing efforts. Wondering where I suggested?  Check out the post for the full answer.

Related articles

• UT connects executives, students in new venture (knoxnews.com)

Today I’m announcing that Abunga.com, LLC is closing. Eight months ago this probably would have been news, but with today’s economy it’s basically the status quo especially for ecommerce technology startups. The reasons we’re closing would fill a couple pages, but primarily it’s because of money and traction. We ran out of the first before we got enough of the second.

I’m fortunate that I’m taking with me the experiences, wisdom and the “next time” lessons. The things that I look back on and say “Next time I’ll…” Over time I’ll start sharing those experiences and lessons with you so that you can learn from my mistakes. Putting them into words will also help me embedded in my mind as well, so stay tuned for those.

As for what I’m up to next, it’s up in the air. I’m looking at a mix of opportunities: I’ve begun to have discussions with a few companies here locally in Knoxville that I admire to see what joining their team looks like, I’ve got a couple exciting side projects I’m working (to be announced soon), and I’m also looking into consulting with companies that could use some help figuring out how to use technology the best in their business (contact me).  And of course exploring new start up ideas – I don’t think I can get the entrepreneurship and startup fever out of my blood so I’m definitely leaning that way.

And with any of those opportunities, I’m excited to bring what I learned while at Abunga and what I’ve learned from some of my earlier ventures and leadership roles.

As to what will happen to Abunga, time will tell. We’re looking to sell or license the technology and most of all want it in the hands of someone that can do some good with it. If you’re interested please don’t hesitate to contact me.

Thanks to the growing tech community in Knoxville and to Knoxville Overground. Special thanks to my crew that provided push back, feedback, and etc. you name it they gave it: Alex Lavidge, Chad Parizman, Scott Adcox, Greg Compton, Casey Peters, Ted Stank, Matt Heisig, Adam Slack, Chad Ridner and Patrick Hunt. You guys listened to ideas and provided more direction, input and connections then I deserve. I’m humbled by how frequently you provided your helping hands along the way.

Thanks to Lee Martin for the vision and for sharing your wisdom and knowledge to steer me back on track when needed. Thanks Steve Slack, Adam Slack and J.R. Slack for entrusting me with your baby and for your continual support, encouragement and ideas along the way.

Thanks most of all to the team that made it happen, this goes without saying but you guys all gave long and hard hours to give Abunga it’s best shot and I appreciate it. We wouldn’t have gotten anywhere without you. Thank you, Mike Walker, Jason Howard, Steve Jackson, Kerri Karel, Colleen Steiner, and our beloved interns.

To our committed customers, you guys were great – and we just couldn’t turn the corner – thanks for your support.

It’s now time to look forward, I’m excited to see where God takes me what is around the next bend.