Shuttered Venue Operators Grants

The Shuttered Venue Operators Grant (SVOG) program is Section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) signed into law on Dec. 27, 2020. Following are answers as of Jan. 27, 2021, to frequently asked questions about the program. These will be updated as new information comes available and additional program details are finalized.

You can find a link to download these documents via the link below. 

Resources

The 2021 OKC Startup Census is here!

Are you an entrepreneur in the Oklahoma City metro area? We want to hear from you! Participate in the 2021 Startup Census below (all survey responses are anonymous).

CLICK HERE

It’s time again to conduct the Oklahoma City Metro Startup Census! We had a fantastic response last year – 130 companies participated in the census, which provided for meaningful insights and established a baseline for the census to build on in the years to come. In recent years, there has been a surge in resources for entrepreneurs, investment activity, and optimism around launching a business in our city that has led to the creation of new, scalable businesses. As ecosystem builders around the city seek to serve entrepreneurs in an equitable way, and see the launch of a diverse array of businesses, we hope this annual census will serve as a resource year after year in understanding our strengths and our gaps as an entrepreneurial community. For the 2020 census, we partnered with the Ronnie K. Irani Center for the Creation of Economic Wealth at OU (I-CCEW) to develop an insights document to summarize the themes from the census and make a few recommendations about how the community can address gaps. Click here for the 2020 insights

We need your help to distribute the census!

Please forward/distribute this survey to every startup (any stage – pre-revenue or post-revenue) or growing small business that you know in the Oklahoma City region and encourage their follow-through. The survey will be active until February 12th, which should give plenty of time to send to all your portfolio companies, clients, and friends. Copy and paste the link below: https://survey.qualtrics.com/jfe/form/SV_0unccazvL0jYHfn

 

Don Van Pelt Smith, Omega3Beef

Many people thought it couldn’t be done. But we’ve developed new, more healthy beef with the proven benefits of omega 3’s — and the same delicious flavor you and your family have grown to love.

Like most people, we love the traditional taste of beef. We also know that standard beef is high in saturated fats that can lead to heart disease. We also know that despite the many nutritional benefits of beef, there are also some concerns. In fact, many people are limiting their beef consumption, or eating the very leanest cuts, to address such concerns. We have a better idea: improve the nutrition of beef by improving cattle feed to produce beef with omega 3’s similar to ocean fish.

We’re on a mission to evolve the cattle industry, keeping the same wonderful taste of traditional beef, but making it healthy for our hearts. Same taste … better health.

Great News. The European Commission of the European Community (28 countries in Europe) has approved our algae as a feed ingredient for cattle, hens, pigs, and sheep. We are talking with leading grocery chains in the UK, France, Italy, Spain, and Germany. The grocery chains will order Omega3Beef from their existing suppliers. The feedlot operators and grass feeding operations in these existing supply chains will buy the algae to produce Omega3Beef. Look for Omega3Beef steaks and burgers in stores this Spring.

ATTEND

  Tra Pippin, Accentra Home Health & Hospice

Succeeding in the Turnaround Industry

By Dennis Spielman

With the experience of having raised nearly $800 million for companies, and buying and selling approximately 40 companies, Tra Pippin considers himself qualified in the turnaround industry arena. He’s also turned around businesses that ranged from a low of 1 million in revenue to a high of about $150 million. Pippin got into the industry happenstance manner.

“I bought a company back in June of 1982 called Perfection Equipment Company,” said Pippin. “And at the time, I think our revenues were roughly $2 million a month. Well, there was a little shopping center bank here in Oklahoma City called Penn Square Bank that crashed on July 5, 1982. And I don’t think either myself or my partner recognized the fact that a little shopping center bank could have the impact that it did, but it caused probably the greatest crash in the oil industry, certainly in my lifetime.”

Their revenue went from two to two-and-a-half million dollars a month to approximately $300,000 a month. Based on that, at the time, Pippin purchased the company. They had about 130 employees. A year later, they were down to 30 employees and were making decisions on how to cut based on whether someone had been there 15 years or 20 years. The industry turned around, and Perfection Equipment Company today is a lively, growing company in Oklahoma City.

Pippin said he learned how to save a company before there were associations, conventions, and resources dedicated to the turnaround industry. When buying a company now, Pippin has several things he looks for to inform his decision.

“Probably the most important thing that I look for is, ‘Does the company have passionate people remaining?’” said Pippin. “Nine times out of 10, about 85% of the time, current management is the issue, current management is the problem. Normally, I replace current management, but if the line managers and the other key employees don’t have a passion for that company, I’m typically not interested in either buying it or turning it around for a bank or a financial institution.”

When turning around a company, Pippin advises that the first thing buyers do is get a handle on the cash flow. Pippin analyzes cash flow through a 13-week rolling forecast. Every Monday, they would review and update it, make sure every bill was accounted for, and communicate with employees and leaders what’s going on.

“We grew one company in sales revenue within 15 months, from $8 million to over a $100 million in revenue,” said Pippin. “But in the meantime, they went bankrupt. They outstripped their cash even though we warned them. All they wanted was top-line revenue. They wanted to be a $100 million a year company; basically, they succeeded but ran out of money on the way. So whoever it is, whatever company, they may be a phenomenal salesperson, they may be able to generate sales, incredible sales, but if they don’t have the profitability to grow, they’ve got to figure out a way to get their working capital.”

When it comes to selling a company, Pippin said it’s a marketing piece once you’ve got the company on solid ground. “You try and put the company in the best light and tell them, you tell the potential buyers why this company is such a great company, ‘It was on its butt nine months ago, and now look what we’ve done. The sky’s the limit now.’”

If you’re considering attending Pippin’s OVF talk, he said he could help give broad-brush solutions to their issue with their company.

Tra Pippin will be speaking at the Oklahoma Venture Forum Power Lunch on Wednesday, February 10, 2021. Be sure to register for the online ZOOM event to learn more about turning around a business, asking your questions, and networking with entrepreneurs in Oklahoma.

ATTEND

 Henry Dumas, Moore Norman Technology

10 Resolutions to Make 2021 a Better Business Year

1. Figure out how your customers’ needs have changed.

This Covid-19 pandemic is a shock for the whole world. Almost all your customers’ lives are different than they were a few month ago, and they will probably be different again in six months. They may never be the same. Your short-term cash flow depends on providing them with goods and services during the crisis. Your long-term viability depends on understanding how their needs will be different when the pandemic is over.

The first thing to consider is that people are building new habits right now. There are millions of isolated households whose normal routines have been upended, and just like them you must experiment if you want to remain a part of their lives. Some restaurants are offering takeout comfort food, even if they usually just serve in their dining rooms. Retailers are emphasizing online experiences. Your customers do not need a vapid email about how you care about them, but they do need entertainment and comfort and hope. Some of their new habits will persist after the pandemic, which means it is particularly important for you to figure out how to continue to offer services that deliver value during the crisis.

Think hard about how the post-pandemic world will change your business model — and bring your customers into your planning process. Many of your customers will be poorer, but they will also be eager to enjoy themselves after the long seclusion. Many will still be scared about the risks of contagious disease. Some of them may have decided that they like ordering online. E-commerce has spiked by nearly 40% in the wake of Covid-19.

Reach out to them to learn how their lives have changed and figure out the most exciting thing that you can offer your customers once they can leave their homes. Ask them what they are looking forward to and help them look forward to the day that they can buy from you again.

2. Take steps to improve your digital presence

If it’s been more than a year since your site has been updated, if you haven’t taken action to make your online presence mobile-friendly, if you still haven’t created an email marketing list, or if digital isn’t part of your marketing strategy at all, it’s time to add this to your new resolutions. You could even take a step further than mobile-friendly and use a mobile-first approach to your digital presence.

3. Promote your business regularly and consistently

Since small business owners wear a lot of hats, you might not always have “marketing” at the top of your to-do list. While you should focus on delivering that amazing small business experience, you should not forget to market that amazing experience to the outside world. To attract new customers, you must make promotion a priority. Take the time to create a marketing plan or, if your funds allow it, hire a marketing expert to help you set it up.

4. Make business strategizing a weekly event

Planning is vital if you want to foster a growing business. But running a small business can be chaotic and it is easy to get sucked into the day-to-day operations. Business strategizing allows you to take a step back and highlight what worked and what did not, while adjusting old goals and setting new ones. So why do it just once a quarter or once a year? Set aside time each week to review your strategies. This will help you stay on track and allow you to have a clear hold on your business.

5. Drop What's Not Working and Move On

All products are not going to be super sellers, all sales methods are not going to work for everyone, and all suppliers or contractors are not going to be ideally suited to your business. If a technique, product, or business relationship is not working for you, stop using it. Do not invest a lot of energy into trying to make the unworkable workable. Move on. Something better will turn up.

6. Learn how to manage your cash flow more effectively

Cash flow is the lifeblood of any small business. In fact, a prominent study from the financial services company U.S. Bank found that 82 percent of startups and small businesses fail due to poor cash-flow management.

7. Set Realistic Goals & Find a Trusted Advisor or Coach

Goal setting is a valuable habit—if the goals lead to success rather than distress. Resolve that the goals you set will be achievable, not so far out of reach they only lead to frustration. If you have trouble setting realistic goals, there are ways to map out a formula that makes sense for you. Research & follow the filter for “Smart” goals.

There is a reason why runners often train with a group. It helps to have someone keep you accountable and motivated to hit your goals and get things done.

The American Society of Training and Development did a study on accountability. They found people are 65% likely to meet a goal after committing to another person. That is a pretty good increase. However, that chance of success increases to 95% when they build in ongoing meetings with their partners to check in on their progress. That is a huge difference!

Bottom line: write down your goals, find a trusted advisor or coach, and then make sure you regularly meet or check in with them. You will be crossing those items off your list faster than ever!

8. Learn to Delegate and Do More of It

There are so many things to do when you are running a small business, it is easy to delude ourselves that we need to do all of them. Then we wonder why we are so tired and frazzled and have no time to do anything else. Let someone else do some of the tasks for a change. Delegation is the key to a healthy work-life balance.

9. Put Time for Yourself on Your Calendar

All work and no play are a recipe for mental and physical disaster. So, if you have trouble freeing up time to do the things you enjoy, write time regularly into your schedule to "meet with yourself" and stick to that commitment. If you will not invest in yourself, who will?

10. Give Back to Your Community

There are all kinds of worthy organizations that make a difference in your community. Those who give, get. Nothing will seed and grow goodwill for you and your business better than giving back to your community. So, make one of your top resolutions to find a cause that matters to you and give what you can. Make this the year that you serve on a committee, be a mentor, volunteer, or make regular donations to the groups in your community that make the place you live better.

Henry Dumas

Business Coach 

Moore Norman Technology 

  Danny Slusarchuk, Standards IT 

Chairman's Perspective

Right off the bat I would like to give a shout out of appreciation to Alice Frentz and Che’ Loessberg for aggressively pushing our key strategy forward this year. Thanks to them, the Board of Directors, and the Executive Committee – OVF has gone statewide! Membership is up significantly and we are now extending our Board seats across Oklahoma to capitalize on our increased geography.

You benefit from more pitch presentations, investment opportunities, and focused networking time with the economic drivers in our State. The awards ceremony is just around the corner and we have a great keynote speaker lined up. I won’t spoil it though, stay tuned for the official program and be sure to sponsor the event. The investments you make in OVF go directly into the economic ecosystem fostering innovation and diversifying wealth.

Regards,

Danny J. Slusarchuk

Chief Executive Officer

Standards IT

January 21st, 2021 ONLINE

5:30 PM- 7:00 PM

Register for log in details 

Pitch Presenters

Shahbano Imran, CEO, Workbench Labs
Due to COVID-19 job loss, automation, and the nation’s long term transition away from Oil & Gas, there’s a dire need for job creation in Oklahoma. Workbench Labs wants to build a scalable and accessible model for successfully up-skilling the US workforce.

Mitchell Sims, Founder,  PigTracks
PigTracks is an SaaS platform connecting remote pipeline assets to the cloud, in real-time, so pipeline service teams can be more effective and efficient while executing pipeline integrity projects. 

Wendy Hampton, CEO, Express Toxicology Services
Express Toxicology Services is a Oklahoma Cannabis Lab that offers a full range of testing for medical marijuana, CBD/hemp, and other related agricultural yields ranging from potency testing to contamination for other harmful substances such as pesticides and heavy metals. 

REGISTER TO ATTEND

Dealine Extended to January 27th!

The OVF Venture of the Year, Most Promising New Venture and the Award for Economic Impact are three of the most prestigious recognitions a company can receive. The awards represent the triumph of the entrepreneurial dream and spirit. Nominations and applications are now available for the May 2021 OVF Awards.

The Oklahoma Venture Forum, as a means of publicly recognizing the achievements of successful Oklahoma businesses, has produced the awards biennially since 1989. The 2021 awards will be presented in ceremonies to be held in May 2021.

There is no cost to enter, but the competition is keen. Each finalist will be invited to attend the awards presentation and will receive a plaque recognizing its growth and success.

Chairman's Perspective
Danny Slusarchuk
Standards IT

Welcome 2021. Welcome, welcome!

I also want to welcome our latest members: Sarah Edwards, Nathaniel Harding, Melissa Houston, Tina Lindsay, Zach Miles, J.W. Peters, Heather Rouba, and Dan Schemm. Lots of new faces for the new year.

Most new members join OVF because they have been a guest at some point, so keep inviting people who are interested in quality content, viable venture investment opportunity or industry specific networking. The OVF entrepreneurial & innovation ecosystem requires as many motivated participants as possible to continue to connect, recognize and promote economic growth for Oklahoma, thanks for doing your part.

OVF is completely booked this session for main speakers and we only have a few spots left for pitch presentations. Please continue to send your main speaker suggestions and we will begin booking for the 2021-2022 session. Let us know who you want to see and we will do our best to book them.

Now to tell you about our main event, the annual OVF Awards ceremony. This year will be a little different. We have typically alternated award categories each year. The 2021 OVF Awards will combine Venture of the Year, Most Promising New Venture and the Award for Economic Impact, so it will be an epic awards event for Oklahoma.

Don’t miss this impressive event and don't miss the opportunity to support these recognitions by sponsoring a table, one of the three recognition pieces, or go one step further and partner with OVF to become a title sponsor.

As a reminder the award nominations/applications are due January 20th. Contact Che’ or any of the board members if you need any additional information.

I look forward to seeing you at the upcoming Power Lunch on January 13th or the After Hours Pitch Event on January 21st.

Happy New Year.

ATTEND AN EVENT

BECOME A SPONSOR

Suzette Chang
Thick Descriptions 
Founder & CEO 

Suzette's focus is the politics of human identity and how “labels” influence and impact humans as we function and interact with each other. She gives specific attention to “historical labels”, their meaning during the past and how those meanings impact the present and shape our understandings of the future. Suzette has a Masters in Cultural Anthropology and a Masters in Library and Information Studies from the University of Oklahoma.

Cultural Innovation founded in Anthropology

As an organization whose work is based in anthropology, Thick Descriptions values the unique approaches to the natural and social sciences that exist in cultures around the world. Thick Descriptions understands that all human culture represents the lived experiences of people and communities; the contributions of innovators from a variety of backgrounds representing diverse perspectives are necessary for us to cooperate toward a more functional and healthier world. This collaborative, technological innovation is key to the refinement of more sustainable communities and global systems.

Values

Anthropology is the Foundation of Science

Thick Descriptions’ commitment to the natural and social sciences begins with an understanding that our understandings of ourselves, each other, and the world around us are filtered through the lens of our own cultural experiences.

Education for All

Thick Descriptions is committed to bringing science empowerment and cultural intelligence education to those who have historically faced educational barriers both seen and unseen and to communities that overlooked those impacted by these barriers.

Humanity-Thinking

Thick Descriptions values the science and culture fields because of their potential to move us closer to knowledge driven, healthier and more sustainable communities. Our educational mindset is humanity centric.

Better Together

Thick Descriptions values the unique attributes of the world’s human cultures, and we believe that we work best when we work together. People from all cultural backgrounds have made and will continue to make essential contributions to understandings of science and culture for the betterment of the human community.