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Mailing Address:
657 S Hurstbourne Pkwy #204
Louisville, KY 40222
Jan/Feb 2014 The Entrepreneur's Accounting Company


Resolution Reboot: Let's Try This Again, Shall We?

By Kent Oyler

It's February. Raise your hand if you've already abandoned your well-intended, “damn well finally gonna do it this year” New Year's resolutions.

Oh, wow. You, too?

I admit it. I pledged to drop pounds, only to lazily accept my scale fibs about my lack of progress (broken spring, no doubt). I resolved to arrive to work earlier only to discover that, evidently, I don't know which switch sets my iHome alarm clock, though I have located the snooze button.

Face it, some things just aren't meant to happen.

And while I may lack perseverance myself, I do care about my readers. So let me propose a few well-meaning 2014 resolutions for other souls in the entrepreneurial community. Some of these have undoubtedly made your list before, only to be overlooked in the face of various pivots, cash crises and fundraises.

Whether you're a startup, start-over or won't-start, these resolutions are a good re-beginning to the new year — an early reboot for 2014. Raise your hand again and resolve after me: I will...

  • Handpick a board of advisors. As brilliant as you are, multiple heads are better than one and besides, it's a best practice for cool companies to have an advisory board. Having access to a group of smart, experienced minds can complement — and, when needed, contain — your impulses based on their own hard-won successes. Yah Baby, the Gray Hairs know stuff.
  • Communicate more closely with my stakeholders. Of course you intend to provide frank and regular communications for your shareholders, employees and service providers. Just seems intuitive they might behave better if they had a reasonably clear picture of whatever tomfoolery you're up to. It's hard for them to know what to do or how to help if you leave them clueless about where you're headed. Of course, that's just a theory.
  • Get my holdings in the right place. It's difficult to let go, but sometimes holding all your company shares directly isn't so smart for tax and liability reasons. No need to get fancy, but moving shares to a family limited partnership or holding company LLC might just save you some tax coin and dial down your legal exposure. Sorry Uncle Sam.
  • Figure out my endgame. Are you seven years in and still slogging through 80-hour startup-level work weeks? What's that about? It's easy to launch a business without mapping out an exit strategy. Whether you're talking succession or sale, make sure you have an end in mind.
  • Get my house in order. That means solid financials. Well-documented processes. KPIs. HR policies. All that crap that you never had time for but actually is important. And, like de-junking the basement, it just feels better when things are orderly.
  • Look after my family. You know, those other people who live under your roof. What, your fourth grader is now 16? The days are long, but the years are short. When you're on your deathbed, you won't be wishing for an extra 3 percent market share. Eventually, we're all gonna end up in the dirt. Take time to enjoy the ride with the fam. Oh yeah, same for looking out for your health. Thanks Mom.
  • Give myself a gut check. Is your business still your passion or just what you happen to do? Are you stuck in a rut? Does it give you energy or suck you dry? Does it feed your mojo? Are you willing to call this your life's work? You get the idea. Carpe diem!

So add these bits of wisdom to your carry-forward resolutions about weight loss, exercise and better brushing habits. Even if you only check off one or two come next New Year's Eve, you'll be miles ahead of the pack and better positioned for whatever opportunities lie ahead.

Hey, I've done my part. Let's just see if you can follow through.

I'm already working on my 2015 resolutions...

OneMorePallet: Ship a Little, Save a Lot

Here's a problem waiting for the right solution: You've got something too big or too costly to ship via UPS, but it's not big enough to fill a whole truck. On the flip side, trucks are typically running around with 30-40 percent unfilled capacity in their cargo beds.

One More Pallet
Watch how OneMorePallet works

As if the matchmaking angels descended upon the transportation industry — OneMorePallet was created to match up shippers with carriers.

Founded by experienced entrepreneur Bill Cunningham, this UpTech company from Cincinnati/Northern Kentucky optimizes LTL shipping logistics. In shipping lingo, LTL means “Less Than Truckload.”

“The LTL sector is estimated at $33 billion with a decent amount of room for efficiency gains,” Cunningham says. “Our platform is designed to bring about those gains with improvements in access, connectivity and dependability. More importantly, we are developing the company to help small and medium businesses lower their freight costs and simplify their shipping process.”

OneMorePallet is already generating revenue, interest from investors and media coverage from the Huffington Post, Soapbox and Supply Chain Ventures (c'mon, you know you read this).

For more info, contact Bill Cunningham, 855-438-1667, ext. 702.

What Would Bob Saunders Do? Wristband Kickstarter Campaign

Perhaps you're a regular reader of this newsletter and wonder about the recurring references to Bob Saunders. Perhaps you think him a mythical sage, or even The Most Interesting Man in the World.

Perhaps you want to be like Bob, or maybe have his learned advice seamlessly delivered for life's every question: "Should I invest?" "What's the right pre-money valuation?" "What should I name my puppy?" "Boxers or briefs?"

Well now you can. Simply slip on the comfortable rubber WWBSD wristband, and you will always be able to channel the answers to your "What Would Bob Saunders Do?" questions.

Available now on Kickstarter.



Cladwell: Making Men Look Better

Hey there, handsome. You've got the looks. You've got the brains. You could trademark your entrepreneurial swagger.

But bro, is that the same T-shirt and jeans you wore to Coachella in 2004?

To attract a million bucks, it's time to start dressing like a million bucks.

Enter the crew at Cincinnati-based Cladwell. Just answer a few online questions about what clothes you need, what you like, and what you're willing to pay. The Cladwell team of stylists will take it from there, providing you with recommendations and options — from suits and ties to casual clothes and everything in between.

If you're gonna wear T-shirts and jeans, at least get some from this decade.

The service is free, so sign up and give your couture a much-needed kick forward.

For more information, contact Tim Brunk.

  White Paper

After the Funding: OPM Releases First White Paper

Just raised $1 million? Congratulations! You're a crowdfunding rock star! You created a compelling campaign with your great idea, witty way with words and great-looking videos and photos.

So now what?

This is no time to rest, Mr. or Ms. Moneybags. Don't just take the funds and run.

Once you've completed your crowdfunding campaign, consider working through OPM's 10 Top (Post-Funding) To-Dos to ensure you serve your friends, fans, supporters and investors well — so much so that they'll want to continue their support of you in the future and tell their friends.

Download our free white paper — it's so riveting that even Bob Saunders will want to crowdfund his next venture.

Velocity Unleashes Five New Startups

Velocity Indiana's flagship accelerator program is under way again, providing entrepreneurial instruction and guidance to its second cohort of five startups.


After three weeks of intense mentorship, this cohort is off to a great start, validating assumptions and polishing business models.

Here's a look at who's off to the races:

Drifter Events is a sports event company specializing in organizing fun adventure racing and endurance sports across the United States.

Groom HQ
Groom HQ team includes Max Hartz, Patrick
McMahon, Chris Wiedmar and Andrew Klawier.

GearBrake provides motorcyclists the reassurance that other drivers will be able to see them in time to avoid a rear-end collision.

GroomHQ is a management tool designed to keep the groom in control, the wedding party on task and on time and, most importantly, keep his fiancée happy.

Million Dollar Scholar uses a scalable Web platform that delivers educational content and services to help students win scholarships.

NurseVersity offers a personalized learning path with targeted recommendations for all nursing students preparing for exams, certifications and licensing, including the NCLEX.

Velocity Indiana is a 501(c)(3) (pending IRS determination) not-for-profit leadership organization that drives initiatives designed to enhance the image of Southern Indiana as a dynamic and focus-driven place for entrepreneurs and their new ventures.

Velocity's flagship educational program is a “Business Accelerator” that attracts, funds and mentors up to 10 young companies per year over a six-month period. The founders of these companies may be college students, corporate employees or individuals.

Jobs Board News

Attention people seeking jobs and people seeking people for jobs: OPM has a Jobs Board. Because, you know, we like to work, you like to work, and some of you may be looking for people to work.

So send us your job descriptions, and we'll post 'em. And come have a look-see — there might be something you're interested in.


Nucleus LaunchIt 10-Week Series Starts Feb. 25

Prime your business for product launch and/or investment by attending LaunchIt, an intensive 10-week course incorporating the Lean LaunchPad Approach for startups.

The group meets each Tuesday, 6-9 p.m., starting Feb. 25, at Nucleus, 300 E. Market St., in L'ville.

You'll learn, among other helpful bits, to validate your market, product and business model; create your investor- or consumer-oriented pitch deck; and refine your elevator pitch prior to your launch — perfect for startups and early stage companies of all kinds.

Check out the details at the LaunchIt website. Sponsored in part by OPM Financial.


REVE Quarterly Lunch: March 12

If you're a fan of commercial real estate — developer, owner, lender, investor, or just interested in the field — you won't want to miss the next REVE meeting, 11:30 a.m., Wednesday, March 12. Ted Smith, director of Metro Louisville's Department of Economic Growth and Innovation will be laying down all his expert insights on the local landscape.

Register now — the lunch will be held at The Ice House, 226 E. Washington St., in Louisville.

Startup Weekend Louisville: Feb. 28-March 2

Groom HQ

Wanna be startin' somethin' in just one weekend? Then you'll have a great time, and learn a ton, during Startup Weekend.

Startup Weekends go something like this: Anyone is welcome to pitch a startup idea and receive feedback from peers. Teams organically form around the top ideas (as determined by popular vote) and then it's a 54-hour frenzy of business model creation, coding, designing and market validation.

The weekends culminate with presentations in front of local entrepreneurial leaders, with another opportunity for critical feedback.

Register now — this year's gig is set for Feb. 28-March 2 at Velocity, 400 Missouri Ave., #102, in Jeffersonville, Ind.

Inc. 500|5000 Applications Open: Take Your Place at the Top

Inc. is now accepting applications for the 2014 Inc. 500|5000 list of the fastest-growing companies in America — so git after it! You might be featured as Inc.'s Applicant of the Week!

OPM Financial and many of our clients have made the cut. Come join us.

Inc. 500|5000



Awesome Inc Rolls Out Awesome New Courses

Awesome Inc has just released its spring schedule of coding courses. Check out their iOS, Android, PHP, Unity Game Engine Development and other new courses. Awesome! 

Awesome Inc U

Top 10 Things Overheard at Super Bowl Halftime:

  1. “Hey Mr. Elway, grab your pads.”
  2. “Uh, we re going to need more medicinal marijuana in the Broncos locker room.”
  3. “Hey Peyton, Omaha requested a shoutout, not a shutout.”
  4. “Twelfth man my ass! It seemed like they had a least 15 in on every play.”
  5. “Huh? Who would have thought that the halftime show really would be the highlight of the game?”
  6. “Hey Manning, Papa John called, he wants his endorsement back.”
  7. “We spent how much on a fourth quarter TV ad?”
  8. “Someone call Ford, my Bronco's missing its accelerator.”
  9. “The last time a Bronco went this slow, OJ was driving.”
  10. “Dear Lord, why did you let us cut Tim Tebow?”

And Now for Some Accountant Humor

Accountant Humor  

Why did God invent economists?

So accountants could have someone to laugh at. 

Why did the accountant stare at his glass of orange juice for three hours?
Because it said "concentrate" on the box.


OPM's Hottest Events

Every Monday, 8 a.m.
204 S. Floyd St.
Regular gathering of people who love startups — building and doing cool stuff.

GLI Annual Meeting
Feb. 18, 5-9 p.m.
Galt House Hotel & Suites
140 N. 4th Ave.
The region's premier business networking event of the year.

Funders Speed Networking
Feb. 25, 4:30-8 p.m.
Horseshoe Casino, Cincinnati

Nucleus LaunchIt 10-Week Training Program
Feb. 25-April 29, 6-9 p.m.

5 Across
Feb. 26, 5-6:30 p.m.

  Startup Weekend Louisville
Feb. 28-March 2, 6:30 p.m.

Louisville Venture Connectors
March 5, 11:30 a.m.

REVE Quarterly Lunch
March 12, 11:30 a.m.

OpenCoffeeLou: Kent Oyler
March 17, 8 a.m.
204 S. Floyd St.
Kent will talk about creating and managing advisory boards.

Lexington Venture Club
March 19, 11:30 a.m.

Louisville Venture Connectors
April 2, 11:30 a.m.

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