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Hello Alaska,
Many of you want to know how Jane did when she gambled with her own money, but leaving the ending off the story really suited my interpretation of the event. Divulging her success, or failure opens a can of worms. Had she done well, it could have been attributed to her careful play and good stewardship of the money. Had she lost the money, one could claim that she was too tentative and that like in business calculated risks have to be taken in order to succeed. But of course it's not that cut-and-dry. As is usually the case, other factors also contributed to her outcome. One of Jane's problems that evening and a reason for her tentative play was that the $50 represented all her money. If she had $500 and gambled with $50 of it, her attitude may have been different. There is a disparity between exposing 10% of your money to risk, versus 100% of it. She was obviously underfunded (after Dad's wallet closed) to be doing what she was doing.
Entrepreneurs often have the same problem. Bankers and business advisers look for red flags in business plans, specifically in the attached financials. What both see too often are scenarios that show the business operating with minimal expenses at the start just to get up and running (many times not including a salary for the operator). Unfortunately, no matter how carefully we plan and how hard we try to avoid them, we tend to make mistakes (especially when we're new at something) and in business, mistakes often cost money. Bankers know this and assume that you will not generate income immediately and as the operator of a start-up you should do the same. If your business isn't funded well enough to sustain those times, sadly, chances are that it won't last (a lot like Jane's $50).
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Not unlike local restaurants that purchase their fresh produce from local growers when possible, the Firetap Alehouse and Restaurant (www.firetapalehouse.com) in south Anchorage has taken a similar approach to supporting small Alaskan businesses. Their extensive beer selection features every local brewery, with the exception of a handful whose distribution isn't quite at a point of delivering consistently. They include well crafted beers from:
Midnight Sun Brewing Co. - Anchorage
Sleeping Lady Brewing Co. - Anchorage
Alaskan Brewery - Juneau
Kassik's Kenai Brew stop - Kenai
Kenai River Brewing Co - Soldotna
Glacier Brewhouse - Anchorage
Moose's Tooth - Anchorage
Silver Gulch Brewery - Fairbanks
Denali Brewing Co - Talkeetna
Jack Lewis, the managing partner of the restaurant realizes that in part, purchasing beer from places like the Moose's Tooth and the Glacier Brewhouse directly supports their competitors in the marketplace and yet the restaurant stands by its commitment to buy local. Turns out a guy with a name like Klaus enjoys a frosty beverage on occasion and I love taking a trip through the state by sampling the products of our Breweries and Brewpubs. I hope that our own Kodiak Island Brewing Company (www.kodiakbrewing.com), the Skagway Brewing Company (www.skagwaybrewing.com) and Homer Brewing Company (www.homerbrew.com) (not members yet, but I'm thinking soon....), can get their beers to the Firetap soon, so I can visit there as well (and yes, by visit I mean "drink their beer")
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Don't forget to check the bid opportunities. The state seems to have a pile out right now, ranging from various chemicals and real estate leasing needs to gravel and life jackets. As I write them I'm always intrigued by the diversity of the RFP's, which this week include such things as the servicing of grease traps in Fairbanks and the need for an emergency shipment of 12,000 gallons of Ultra Low Sulfur Diesel ULSD (DS1) to Oliktok. Opportunities seem to exist for many businesses that traditionally don't make bidding on government jobs their primary source of income. If you find yourself eying some of these invitations to bid, but aren't sure how to get in the game, give the PTAC (www.ptacalaska.org) team a call. In addition to providing classes that teach the fundamentals of government contracting, they can help with all aspects of completing the necessary paperwork to get started. Turns out, they also host events like the................
2nd Annual Interior Regions Procurement Fair
Date: February 15 and 16, 2011
Time: 8:00 AM to 5:00 PM
Location: Fairbanks Princess Riverside Lodge
Cost: $50 attendee, $150 vendors
The 2nd Annual Interior Regions Procurement Fair will take place in Fairbanks on February 15 & 16 at the Princess Riverside Lodge. On Day 1 Representatives from federal, state, and local government agencies will present information on procurement forecasts. Matchmaking and networking event, lunch, and informational presentations are planned. On Day 2, panel discussions, specialized training, and informational workshops will follow. The focus of this event is to:
- Develop broader base of procurement knowledge to qualified contractors in the region;
- Learn about local, state and federal government agency procurement needs;
- Attend workshops on contracting topics such as socioeconomic programs teaming and partnering, insurance and bonding, proposal writing, GSA, Wide Area Work Flow (WAWF);
- Meet vendors, talk with government procurement specialists, prime contractors, contracting officers, and purchasing agents, and discover other supporting resources.
This conference is for new and existing businesses looking for opportunities in the government marketplace. Go to http://www.ptacalaska.org/ and click on Procurement Fair for details and to register. Or call Fairbanks PTAC at 907-456-7232, Anchorage PTAC: 907-274-7232.
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The 8th Annual DBE Business Summit
This FREE conference is on
February 23 8:30 am - 4:00 pm
Crowne Plaze Hotel, 109 W Intl. Airport Rd in Anchorage
Workshops include -
- Motivational Speaker
- Contract Law
- Power - Negotiation Styles
- Advanced Project Management
- Critical Tools for Business Growth
- ...........and many more
Please RSVP to: Amira Sadek 907-269-0845, 800-770-6236, or amira.sadek@alaska.gov Sponsored by the Alaska Department of Transportation & Public Facilities civil rights office.
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Anchorage Inaugural Events for Governor Parnell and Lt Governor Treadwell
This Community Gala will take place on February 12 at the Dena'ina Convention Center. It is a celebration not to be missed! Here are some details...
- Reception begins at 6pm on the 3rd Floor of the Dena'ina Convention Center
- Program and 3 Course Dinner (surf and turf) will follow at 7:15pm
- Special entertainment, including dancing from 9:30-midnight, is included in the ticket price.
Thanks to our event sponsors, tickets at just $50 per person... an unheard of deal for an event of this nature.
More information, including ticket sales, is available at www.akinauguration.com
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The 2011 Alaska EXPO Foodservice & Hospitality show is your best opportunity to meet face-to-face with suppliers and manufacturers throughout Alaska. This unparalleled event is the only independent restaurant, foodservice, hospitality & lodging industry trade show held in this state.
See the latest products, food, ideas and trends at the Dena'ina Convention Center on February 4th 2011 Friday, 9am to 4pm. This is a professional Show not open to the public, by invitation only.
- Comparison shop different products
- Negotiate deals directly with suppliers
- Discover new cost saving solutions
Also New, The Alaska Expo will be hosting the 42nd Annual Alaska School Nutrition Association vendor show, with over 50 product lines.
Ice sculpting sponsored by: Nana Management Services Prudhoe Bay, Alaska
For additional show details, or to become an exhibitor visit the EXPO website: www.alaskaexpo.biz or contact Mike at 907-230-7239
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Valentines Specials -
Eat Stay Love valentine's Package
Inspired from the book "EAT PRAY LOVE", this package represent a tranquil night of relaxation and delicious food in JUNO restaurant with a splash of romance.
The package includes:
- 1 night stay at the beautiful CROWNE PLAZA HOTEL
- $75.00 gift certificate for JUNO restaurant
- Bottle of Champagne or Wine in the room
- Chocolate Covered Strawberries in the room
Cost: $219.00 + tax
To book this special call 907-433-4100, ask for Julie and tell her that I sent you!
Valentine's Weekend at the Land's End Resort
The package that includes a wedding expo, dinner and a Sweethearts Dance on the weekend of Feb 11-14. Please email, landsendsales@alaska.net, or call her (907) 299-4210 to get the details. Check out their revamped website at www.lands-end-resort.com to always get the latest info.
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Renewable Energy Alaska Project (REAP) FORUM: Railbelt Energy Options
A look at the Numbers with Energy Consultant Mark Foster
FEB. 9, 6-8pm, Anchorage Museum, FREE
Podcast available at https://www1.gotomeeting.com/register
Alaskans have tough choices to make about our future energy sources: A dam on the Susitna River? Geothermal from Mt Spurr? A natural gas line or electrical intertie from the North Slope? How do we choose the one that makes sense for us individually and collectively, and influence the public and private decision makers?
Come to REAP's FREE forum where energy consultant Mark Foster in an interactive, quantitative presentation will take a look at those choices, the numbers behind them and engage the audience to vote on the energy sources they believe provide the best choice in the long run. So sharpen your pencils, bring your best guestimates and be part of helping make Alaska's energy choices. More info online at www.REalaska.org, or (907) 929.7770.
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You are invited to the 2011 Delta Farm Forum
Saturday, February 26th at the Delta High School small gymnasium.
This day-long event begins at 9:00 a.m. and ends at 4:00 p.m. with a potluck at noon. An assortment of speakers are scheduled plus the local 4-H group, the DJ Saddletramps, will be hosting a 4-H open house in the high school large gymnasium.
This is an excellent opportunity for you to meet a variety of Delta producers as well as other professionals from around the State.
The 2011 Delta Farm Forum is co-sponsored by the University of Alaska Fairbanks Cooperative Extension Service (UAF CES), Delta District @ 895-4215 and the Salcha-Delta Soil and Water Conservation District (SDSWCD) @ 895-6279. Both are located in the Jarvis Office Center in Delta Junction.
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There are additional farming/growing-specific items that my pal Ruby in Delta has shared with me, but rather than me rehashing her news you should get it straight from her mouth by visiting her blogs at either: www.wecangrowit.blogspot.com, or www.akrhubarb.blogspot.com (who knew rhubarb had a following)
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