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nativesRise of the Digital Natives
 by Kent Oyler 


Like so many of us born before 1980, I've been striving to fathom the Millennial Generation. I'm referring to those overeducated, good-looking young folks who have taken over my club, not to mention my workplace. 

 

Aged 12 to 33, the first Millennials were hatched from disco-dancing Reaganite boomers in mom jeans. Today they account for about 34 percent of the workforce and 90 percent of the attitude. They are the first true digital natives, having grown up tethered to computers, iPhones and now social media. And they aren't going away.   

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In This Issue

 

The Mills were helicopter-parented for high self-esteem and bottle-fed instant gratification. Some might say they are entitled, though they feel misunderstood. Either way, managing them requires high empathy and high accountability. In the interest of full disclosure, I have three of them myself, only two of whom think I have any clue.

 

I was inspired to write about Millennials following an enlightening presentation I saw in DC recently. Here are a few takeaways about the new "always connected" age group:

  • 93% use the Internet
  • 94% own or use a cell phone
  • 80% sleep with their smartphones by their beds
  • 75% have a social network site - compared to 30% for boomer-fogies
  • 52% have more than 300 Facebook friends - like, how many friends is enough? 

These kids are entirely at ease with modern technology. So if we are to connect with them, digital is a good place to start, and we must learn to do it on their terms. 

 

When we communicate, it has to be direct, short, intuitive and in keeping with ever-evolving secret norms. Millennials rarely use email and despise chatting on the phone. That's why text and Twitter are so popular - they pander to short attention spans and instant satisfaction. It's also why photos and short videos account for 75 percent of the content loaded on Facebook. A picture is very clear and can deliver immediate emotional impact. Hey, why write when you can post a selfy? So if any Millennials have read this far, they're obviously OCD or work here.

 

Millennials are drawn to compelling content as long as it's honest, genuine and authentic. They want to "feel it" and believe that it's "real." They expect to be able to interconnect with people, brands and causes that they care about. They want an engaging conversation - they don't like the feeling of "being told." And they demand on-the-spot feedback.

 

I've always felt that each new generation advances the proverbial ball, though each is different and certainly equally annoying to their elders. Just as my post WWII parents never fully embraced Michael Jackson and 8-track tapes, I just don't get Justin Bieber, "checking in" or texting at dinner. But with the "Mills" in charge of our nursing home selection, perhaps it's time to get with the program.

 

What I've come to admire most about the Mills is that by using meager means, youthful inexperience and the power of the group, combined with moxy and digital tech, they can and are making the world a better place based on a shared belief that people are inherently good, equal and deserving of freedom. Where did that decidedly non-entitled idea come from?

 

The Mills and their technology have glommed onto something that us old farts are only beginning to grasp: In the digital world everyone is equal and deserving of respect. Perhaps there's lesson we can take from our younger colleagues. 
rostin  
Rostin Leads the Search for Smart SEO

OPM is more than excited to bring Dallas-based Rostin Ventures into the fold. This group is becoming a leader on a nationwide level in search engine results, social media communities, branded online properties and syndicated press. Think of them as SEO on steroids.

 

How does a company in the Internet marketing space separate from the competition? According to Julie Ross, president and CMO of Rostin, the answer is simple - measurable results.  One company we know has seen their page views rise over 500% using Rostin.

 

"Our clients expect many things from us," she says. "But the No. 1 expectation is that we grow their business. We set key performance metrics at the very beginning, and then we work to 'meet and exceed.'" 

 

Several Louisville businesses would agree that their approach works. To see why everything is bigger in Texas, contact Juliesign up for their newsletter and keep up to date on what the scene looks like across the country.

real
REVE Set for Regional Launch

The Real Estate Venture Exchange (REVE) founders meeting held in March has set the groundwork for syndicated real estate investment opportunities in the Louisville, Lexington, Cincinnati and southern Indiana regions. Bringing together a ready pool of angel investors and commercial real estate owners and developers, this organization might be the first of its kind in the United States.

 

"The interest from high-net-worth individuals in this type of investment has been growing, and REVE will provide the forum," says Stephen Lukinovich, partner, Mountjoy Chilton Medley. 

 

The inaugural luncheon, featuring speaker Gill Holland, is set for 11:30 a.m., June 26, at The Ice House in downtown Louisville. 

 

Interested? Contact REVE and sign up for the REVE newsletter.   

john
Entrepreneur Spotlight: John Shumate 


Half finance geek, half explorer.

 

That's how fellow entrepreneurs describe John Shumate, the 31-year-old CEO of ValuLogik, who balances his endless curiosity for emerging ventures with intensive analytics that give executives a leg up.

 

"The key is not just conceptualizing a fabulous venture - it's having an articulated business model behind it that helps you steer the ship," John says. "It's being able to say, 'I'm going to have a minimum cash balance of W dollars in Month X and I will need to raise Y dollars with a valuation of Z.'"  Now there's a calculation for you!

 

As a former Swiss Army knife analyst at the incubator-turned-services group bCatalyst and a recent VP at Louisville's Blue Equity, John intimately understands the venture landscape from both sides of the fence. He lends that skillset to hundreds of entrepreneurs who call on him for complex financial modeling, business plan development, investor materials, valuation services and a host of other analytical functions.

 

A major travel and outdoor adventure junky, John is all about packing more into a finite schedule. Whether it's skydiving, backpacking in China or kayaking in the San Juans, he works hard while on the go.

 

John splits time among Louisville, Cincinnati and Houston and loves to dote on his wife, Sarah, and their bad-to-the-bone bull terrier, Ellie.

 

For folks in need of a financial tune-up for their ventures, shoot John an email. 

high
OPM and Clients Attract High Impact Award

OPM is pleased to be one of 11 Metro Louisville fast-growth companies to receive an EnterpriseCorp High Impact Award in April - and even more pleased to see two of our clients included in the list, as well.

 

This year's High Impact companies collectively represent $2.7 billion in annual revenues, have a 36 percent average growth rate, have created nearly 3,500 new jobs in the region and have invested $464 million during the past four years.

 

 
Along with our inclusion in the 2013 High Impact Portfolio, we're joined by our clients:

 

Simpak International, which through its patented product SimPads provides a disruptive technology in the protective packaging industry for such clients as LG Electronics, Kohler, Toshiba and Epson.

 

Stonestreet One, which specializes in Bluetooth software solutions for chipmakers, distributors, embedded software companies and OEMs to advance the capability and interoperability of wireless devices.

 

We're happy to be in such great company!

commonwealthCommonWealth Crowdfunding Committee

  

Well, although Go-Daddy and Indy girl Danica Patrick beat us out for the magazine's cover, the CommonWealth Crowdfunding Committee was prominently featured inside the April issue of The Lane Report.

Writer Robin Roenker interviewed several committee members and wrote an impressive feature.

 

We also continue to receive nice coverage from Insider Louisville - this piece talks about our official new name, with an emphasis on the infrastructure we're building to support regional crowdfunding efforts.

 

In our continuing desire to ensure that we're inclusive of the whole region, our next meeting is set for 3 p.m., Thursday, June 6, at the Kentucky Chamber of Commerce boardroom, 464 Chenault Road, Frankfort. Interested in joining us? Just send an email and we'll get you connected.

startup
STARTUP Startup's Kickstarter: Support Dan's Studio

 

Dan Vonderheide is in the homestretch of his Kickstarter campaign to raise funds for a new studio. If you enjoy his Startup Podcast weekly conversations with Louisville entrepreneurs as much as we do, head over and make a contribution. He has some great rewards, including six months of studio time that you can use to create your own podcast!

ventureSmart Farm Systems Wows the Venture Sharks

  

 

With Lou Kelmanson, Tony Schy, Dee Maynard and Bob Saunders uncaged for the Shark judge panel, the Venture Sharks business plan competitors swam through a chum-fueled feeding frenzy. (See what we did there with the alliteration? Yeah, yeah, we'll stick to our day jobs.)

 

Four promising companies delivered their pitches at the May 1 Venture Connectors gathering. The Sharks tossed out some tough questions - and were, indeed, quite impressed.

 

The winner: Smart Farm Systems, which provides farmers with cost-saving wireless controls for water pumps. Smart Farm took home $5,000 cash and at least $5,000 in services.

 

Congrats to Smart Farm and to the other three competitors, too:

  • Crambu, a personal concierge service for hotel guests
  • Collabra Innovations, a service that musicians can use to collaborate on compositions online
  • Bracket Press, a system for creating brackets for tournaments
overheardOverheard at the Kentucky Derby

 

Is it too late to change my jockey to Peyton Siva?  - Rick Pitino, while the horses were on the far turn

 

1 for 36 isn't so bad, is it? - Todd Pletcher on his record in the KY Derby   

 

$10,000 was just for today?! - Almost every patron of Churchill's new venue, The Mansion    

 

Hey buddy, you want to invest in Churchill Dome, LLC? - Bob Saunders to everyone on Millionaire's Row  

 

Could I get another Mint Julep? - Kimberly Westergren, after every race

 

Anyone know what time The Betty opens Monday? Those who over-enjoyed those Juleps   

 

Could someone check the 14-day forecast for Baltimore? Frank Stronach, owner Pimlico Racecourse  

 

I told you we should have bought stock in that poncho company. - Every entrepreneur in attendance

humorAnd Now for Some Accountant Humor

 

Accountant after reading a nursery rhyme to his child: "No, son. It wouldn't be tax deductible when Little Bo Peep loses her sheep. But I like your thinking."

 

A patient is at her doctor's office after undergoing a physical examination. The doctor says, "I have some very grave news. You have only six months to live." "What can I do?" cries the patient. The doctor replies, "Marry an accountant." "Will that make my life longer?" asks the patient. "No," says the doctor. "But it will seem longer."

 

An accountant is having a hard time sleeping and goes to see his doctor. "Doctor, I just can't get to sleep at night." "Have you tried counting sheep?" "That's the problem - I make a mistake and then spend three hours trying to find it." 

 

hottestevents
OPM's Hottest Events

Lexington Venture Connectors
May 15

 

XLerateHealth Accelerator Applications Due

May 17

Program Starts Aug. 12

 

Enterprise Angels

May 28

 

Venture Connectors

June 5

Commonwealth Crowdfunding Committee

June 6

 

IdeaFestival

September 24-27

 

Las Vegas Crowdfunding Bootcamp 

October 14-16 

 

XLerateHealth Showcase

October 25 

 

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