The following is a recap of the Center for Free Enterprise (CFE) event , How to Profit by Investing in Businesses, on March 17th, 2017 at the Cleveland Racquet Club.
The Center for Free Enterprise held their eleventh consecutive sold out event, and we appreciate the invaluable sponsorship of Key Private Bank, particularly Greg Keegan.
A remarkable panel, moderated by Ben Calkins, consisted of Ron Copfer, Sam Gerace and Gene Groys. The panel has started respectively 15, 7, and 2 businesses and shed light on their success to the audience.
Ron Copfer is the Founder and Chairman at Heureka Software, Sam Gerace is the CEO of LaunchVector, and Gene Groys is the founder of CareIntel and Onshift. With this remarkably successful panel the event raised a lively discussion about the ups and downs of investing in businesses and the panel shared the importance of working with highly skilled and experienced professionals when for example entering into relationships with investors.
Also, the panel told the audience that right now is a great time to start a business in NEO, but said raising capital remains a challenge in a region where much of the wealth generated decades ago is managed conservatively.
Overall, it was an excellent event that gave great insight in investing in businesses in today’s market and left the audience with some great tips and advice.
Here are some key takeaways from the panel:
- The local entrepreneurial ecosystem suffers from a relative paucity of successful exits.
- It is important for entrepreneurs to perform due diligence on their prospective investors and not just vice versa.
- Our regional ecosystem has come a very long way over the past 15 years.
Save the date for our next CFE event: 730a on May 19.
Quote of the Week
Perseverance is failing 19 times and succeeding the 20th. ~ Julie Andrews, Actress