Innovative Learning w/ Lisa Toenniges

On October 9, 2007, Lisa Toenniges, CEO and President of the Innovative Learning Group, came to speak to the entrepreneurs of Bizdom. One thing I liked about the talk with Lisa Toenniges is: Instead of telling us about what the Innovative Learning Group did, she told us about the principles that got the ILG were they are today.  When asked for recommendation and advice on how to become a successful business owner, Mrs. Toenniges began to tell us her story, and what advice helped her along the way.

Mrs. Toenniges started by giving us a valuable lesson in bootstrapping, telling us how the ILG started out in her basement. She then gave us a lesson in the importance of identifying our business concepts; when she was asked the question: “What do you do?” she knows that the Innovative Learning Group performs “Performance Analysis”. Mrs. Toenniges even knew her company’s strengths, which are a diversified clientele base, and the valuable relationships they have with this clientele base. Mrs. Toenniges has a clear vision for the ILG that consists of profitable, steady, growth. Lisa Toenniges knows her business like the back of her hand, a direct result of this knowledge of her business is the tremendous growth that the innovative learning group has seen. The ILG is approaching the $3 million mark in company worth after only three and a half years of being in business. Is that progress or what! Mrs. Toenniges even went so far as to giving us a couple of tips on being a great manager. She suggest to always set expectations, and to always give feed-back.

Lastly, we were left with this very applicable quote:

“One thing doesn’t get you where you are going; it’s a number of experiences.”- Lisa Toenniges

Six Degrees of Heat w/ Michael Melfi

Networking, networking, and more networking are the key to building a business according to Six Degrees Magazine CEO, Michael Melfi, who visit with us (Bizdom U) on last Tuesday, September 25, 2007. Mr. Melfi gave us a heavy dosage of what Six Degree Magazine is; but more importantly he gave us a few of the key components that contributed to the success of Six Degrees Magazine, in which we could implement into our businesses. These components include:

“Don’t try to re-create the will”

Although Six Degrees Magazine is unlike any other magazine on the market; Mr. Melfi realizes that there has been successful models that have came before him; and instead of attempting to re-create these models, he uses them as leverage, and follows  them instead.

“Listen to people’s wants, needs, desires!”

What Six Degrees Magazine has done, is created an “out of the box”

Way of viewing a magazine. Even though Six Degrees is going in a completely different direction than traditional magazine, Michael Melfi still realizes the impotents of meeting the customers’ needs, and that is what is meant by this quote.

“Do what you say, when you say you are going to do it!”

Obviously, Michael Melfi preaches integrity, but he’s not the only one. I can recall John Ferchill speaking about being a “stand-up guy”, and Mr. Dave Bing seems to be an advocate for integrity as well. I think it’s safe to say that integrity is one component that should be held to the utmost quality in general, but especially in the world of business. It’s vital to business-world survival.

 

 “When executing a plan….stick with it!”

 

Lastly, most great “how to” list on creating a business (or anything else for that matter) end with an emphasis on execution, and this list is no exception. I think the message that Mr. Melfi is stressing is to stay on course and stick with the road map. He simply says: You developed the road map (business plan) for a reason, let’s stick to it!

Michael Melfi’s talk with us was very helpful and relevant, and I look forward to implementing these philosophies in my everyday business transactions.  Big thanks to Michael Melfi! 

A Bang with Bing!

           “There is no reason why you can’t compete with anyone!” This statement by Mr. Dave Bing rang through my head for the duration of his speech and some time after. On the morning of September 19, 2007, Dave Bing, Chairman of The Bing Group, and ex-NBA great, took time out of his crammed schedule to come and speak with the students of Bizdom U. Mr. Bing’s speech, or more like an in-depth conversion, was very informative, and give us loads of advice that could be used throughout our business ventures.

Bing, who started Bing Steel back in 1980, was, and still is an incredibly hard worker. During the summer, when not at the Pistons’ basketball practice, Bing could be seen working at Bank One. For a short time Bing held a job as a car dealer for Chrysler Corp. Bing says that it was essential for him to gain the experience necessary for him to become the successful business owner that he is today.

In addition to working hard, Mr. Bing says that there are a number of things that contributed to his success: Make sure to satisfy customers; Set yourself apart by your attitude and approach; lastly, Bing says to surround yourself with people who are strong in the areas you are week. Although these are not the golden rules to becoming a successful entrepreneur, if these rules are recommended by Mr. Bing, they should definitely be a big help to beginning entrepreneurs. Thanks for the entrepreneurial boost Mr. Bing!