Posted by: Mark Sorenson | March 10, 2009

Finding Opportunity

One of the goals that I am most excited about this year is the one that inspired this blog in the first place. I want to work for an early stage start up company. The reason I want to do this is first because I would love the chance to be involved in trying to get a business off the ground. Second, it would give me such a unique experience in real entrepreneurship, possibly more than any other experience could.

I have two uncles and an aunt who have been trying to start a company with 4 other people for about 6 years. I have heard them talk about this business often and was always interested. After listening to Greg Warnock in my BYU entrepreneurial lecture series class, I was inspired to track down my uncles and see if there was anything I could do to help them out. Recently I met with my uncle in Salt Lake City where we talked about Imaginal; the name of the company they started to develop an more efficient wind turbine. Their turbine will be up to %40 more efficient in producing energy and they have developed a very interesting business plan around it to the effect that they would not only capitalize on its sale, but use it to improve underdeveloped countries. From what I gathered, they need $1-$5 million to finish proving the wind turbine technology and get it to market. Right now they are just looking for the capital to get things off the ground.

My uncle and I talked about my interest in getting involved in doing some fund raising for them. We agreed to get me up to date with everything thats going on with the company and then let me work my networks in search of investors. I really don’t know how to raise capital but I’m gonna give it a shot.

We also talked about another company that they have been working on but that is on the back burner. This company is called Tapemorr. Apparently they also have patented the technology to print on tape. Yeah, I know it sounds weird, but you heard it right. They own the rights to print on tape; duct tape, athletic tape, medical tape, etc. Because Imaginal is on the front burner for them and they really don’t want to run Tapemorr, they asked me if I would head up starting that company. I couldn’t have asked for a better opportunity. I guess they have everything in place to manufacture and produce printed tape, but all they lack is someone to create a winning strategy that would attract customers. They have already done most of the market research and set up a lot of connections in conjunction with this idea of printing on tape. That means all I have to do is take things to the next step. “Well guys… I’ll do it.”

I am amazed at the opportunities that are out there if you are looking for them. I never would have thought that a little effort could open the door to so many great things. I am really excited about both of these chances to learn and grow as an entrepreneur. I will be giving updates to the progress I am having with these two companies. If you have any advice for me as I post, please share it (even though only about 5 people have ever seen this blog).

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