Archive for August, 2008

Core Essence Orthopaedics has 5 million reasons to celebrate

posted August 28, 2008 by David Speers  |  Comments (0)

Robin Hood Ventures has completed its funding as part of the $5 Million Series A equity investment in Core Essence Orthopaedics, Inc., a medical device company based in Yardley, PA, focusing on soft tissue and skeletal repair. NewSpring Capital is leading the round through its dedicated healthcare fund, NewSpring Health Capital.

Core Essence Orthopaedics, Inc. (CE Ortho) is a privately held orthopaedic device company focused on the development, manufacture and commercialization of solutions for minimally invasive soft tissue and arthroscopic musculoskeletal repair for the extremity market. CE Ortho’s intuitive and innovative technologies are driven by increasing demands for alternatives to complicated surgical procedures. CE Ortho devices enable surgeons to build on classic and familiar surgical techniques with novel instruments and implants that simplify procedures and can be mastered quickly. The company’s proprietary technologies provide solutions to the growing volume of tendon and ligament repairs required by the active lifestyles of patients of all ages.

Website: http://www.CEOrtho.com

Robin Hood focuses on investing in early stage companies located in the Mid-Atlantic region. Portfolio companies include Aklero Process Solutions, Inc., Protez Pharmaceuticals, Bioconnect Systems, Intellifit, Paradigm Spine, Glucolight, Patria, Athleague, GlobalPrint, Power Medical Interventions (PMII), Compoze (acquired by BEA), and Etech Solutions, Inc., (Acquired by Perficient - PRFT) . As of August 2008, Robin Hood has invested in 21 companies.

Website: http://www.robinhoodventures.com

david Dave Speers is an online marketing consultant and start-up junky that has worked with a wide variety of Philadelphia businesses. Dave spends most his time annoying really smart people at Indy Hall co-working collaborative.
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Vintage Philly: 10 questions with Heather Waity, owner of Vintage Connection

posted August 27, 2008 by Alexis S.  |  Comments (4)

Philadelphia is on its way to becoming a serious vintage hot spot, as new vintage stores are frequently popping up in Philly neighborhoods. However, there’s much more to the vintage retail business than finding a few pretty trinkets and raiding mom’s closet. In fact, Heather Waity of Vintage Connection shares her secrets to success as an entrepreneurial retail owner later on in the post. Vintage Connection, located on the corner of 9th and Bainbridge, has been showcasing its vintage flair for almost a year in the Bella Vista neighborhood.

What started out as a small online business of selling vintage finds, quickly evolved into an idea with serious business potential, as Heather started gaining attention from clients nationwide. Her passion along with the support of new clients “inspired [heather] to open [her] own store and closet to the Philadelphia public.”

Vintage Connection not only benefits the fashion savvy, but the eco-conscious as well, since “research shows that more than half of the clothes thrown away can be recycled. Reusing clothes helps conserve textiles which use a lot of energy and pollute the environment.” Vintage Connection truly is a sustainable business.

Even though Heather has come quite far since her opening day, she feels that she has a lot more to learn and so much growth to look forward to. She is incredibly thankful for the support she has received from the Philadelphia community, and we’re positive that they’re just as grateful for her store.

 

A few questions for the retail entrepreneur:

Before opening Vintage Connection, what were you doing?

Before I opened the store, I was a makeup artist for 6 years. I was also selling my vintage finds online.

 

When and why did you decide that you wanted to open your own business?

It was a spur of the moment choice. I really liked the aspect of buying and selling vintage, and saw a lot of potential in this neighborhood.

I was really inspired by the boutiques on Market street, and thought that if I applied my passion I could do it too.

I made an effort to save money so that I could open my own store. I really felt like I needed to make a move and at least try.

 

What was the process of finding a retail space in Philadelphia?

It was too easy for me. I literally had a spur of the moment idea. My boyfriend was a realtor at the time and found the spot I’m currently located in. I thought it was too good to be true. After seeing how perfect the place was I immediately gave my best offer. Luckily, the first offer fell through and I got the space the following week. I then spent the following two weeks buying vintage. I opened the store so quickly that I’m still building it to what I want it to be.

 

Did you do any research about the retail business prior to opening Vintage Connection?

I got a lot of ideas just by visiting other boutiques and combined that knowledge with my ideas. I also sought out business advice from an antique dealer.

 

What was the biggest challenge that you encountered?

I knew how to buy for women, but not so much about men’s fashion. I had to learn about buying men’s vintage items, which meant lots of research.

 

What was your first pleasant surprise after opening the store?

I opened on 0ctober 17th and a few weeks later someone from DigPhilly approached me about writing a piece about the store. I was beyond excited and surprised. To this point, I haven’t had to advertise because I’ve received so much great press. I feel really lucky.

 

What have you learned about business from opening your own store?

The business is always changing and you have to stay on top of the seasons, relating to fashion trends, in order to succeed. You really need to understand the psychology of the customer.

 

What do you think about the Philadelphia boutique scene?

I love shopping in Philadelphia. I think we have the best boutiques. They truly inspired me to open my own store.

  

What do you do to grow your business and attract customers?

I try to host several events in the store that showcase my new collections. I also like to highlight local artists and designers, which draws quite a crowd, since Philly is so supportive of the local scene. I think it’s really important to support local talent, and Philadelphia has a lot of amazing artists.

 

 What advice would you give to entrepreneurs in Philadelphia?

 Become familiar with all of the business laws. It’s important to do the research yourself, so that you’re familiar with everything and don’t have to rely on others.

Get a good accountant

Be yourself. Be very selective about what you put in your store, because it represents you.

Be true to who you are. 

 

For more information about Heather Waity and Vintage Connection, visit http://shopvintageconnection.com/

 

alexis-s Alexis Siemons is a freelance writer and creative business consultant living in Philadelphia. She has a passion for language and explores it in her blog, The Lexicon . When not using both hands to feverishly type, she balances a teacup in one while working on her tea blog.
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Get Schooled in Business: Wharton Entrepreneurial Programs

posted August 21, 2008 by Alexis S.  |  Comments (0)


Philadelphia offers numerous resources for entrepreneurs; however, some outshine others, such as The Wharton School. Not only does Wharton train their students to enter the business world with the knowledge and skills necessary to run a successful company, but they also reach out to existing small businesses and support their endeavors. Wharton has created the Wharton Entrepreneurial Programs, which

“supports and seeds innovation and entrepreneurship globally through teaching, research and outreach to a range of organizations through its many programs, initiatives and research centers. At the same time, Wharton students and alumni are helping to build entrepreneurial enterprises around the world and impacting virtually every industry.”

Wharton truly understands that it is not only important to teach students to be business savvy, but to also nurture the community that they will be entering upon graduating. That being said, one of the many resources that they offer is the Wharton Small Business Development Center, that has

“assisted more than 20,000 small businesses in the greater Philadelphia area as part of its dual mission to provide one-on-one management consulting and affordable business training to entrepreneurs. Most of the Center’s business consultants are recruited from Wharton’s MBA and undergraduate programs. Business training comes in the form of more than 65 courses each year taught by staff and industry experts, many of whom are entrepreneurs themselves.”

I strongly recommended that you take a look at their classes, online resources and one-on-one consulting opportunities. For example, Wharton offers a two session program for “early stage entrepreneurs” that is lead by instructors for only $25 (an invaluable investment). This program offers entrepreneurs the ability to ask questions relating to their business, customized packets of research, assistance in creation of a business plan, review and assessment of the plan, etc. For more information about this program and a calendar of sessions, visit http://whartonsbdc.wharton.upenn.edu/coursedetails.asp?course_id=1

Thanks to Wharton, Philadelphia may soon be known as The City of Business Love.

alexis-s Alexis Siemons is a freelance writer and creative business consultant living in Philadelphia. She has a passion for language and explores it in her blog, The Lexicon . When not using both hands to feverishly type, she balances a teacup in one while working on her tea blog.
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Meet the Maestro of Malls, Joseph Coradino

posted August 18, 2008 by B. Frank  |  Comments (0)
courtesy of Philly.com

Joseph F. Coradino

Age, birthplace: 56, South Philadelphia

Occupation: President, PREIT Services L.L.C. and PREIT-Rubin Inc, the companies that handle leasing and redevelopment of 38 malls and 13 shopping centers (Cherry Hill, Plymouth Meeting, etc.)

Hometown: Philadelphia

Education: Urban studies, Temple University; master’s in urban planning and finance, University of Arizona

Personal: Wife, Dawn, a trained opera singer and music teacher; one daughter, 17, who just got her driver’s license.

Management Style: “Inclusive and driven.”

Hobbies: “Working out keeps me sane; cooking keeps me connected to my roots.”

Quote: “My takeaway is you can get more done as an entrepreneur than a bureaucrat. . . . That you can accomplish things.”

Read more about Coradino in the business section of Philly.com

b-frank Entrepreneur, Statesman, diplomat, educator, inventor, author, printer, philosopher, scientist, shopkeeper, musician, economist, public servant and American hero.
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Startups in one spot

posted August 14, 2008 by Alexis S.  |  Comments (1)


Who knew that an idea to gather celebrity gossip sites would turn into a tool that aggregates and displays useful information for countless, varying topics? This tool that I am speaking of is Alltop.com (all the top stories), which according to the creators,

“helps you explore your passions by collecting stories about ‘all the topics’ on the web… At each Alltop site, we display the headlines of the latest stories from dozens of sites and blogs. You can think of an Alltop site as a ‘digital magazine rack’ of the Internet.”

One of the aggregated topics that is obviously pertinent to Phillypreneurs is “startups.” Sites that have valuable information about “startups” are featured on this Alltop page, and range from The Wall Street Journal and Forbes magazine to individual blogs. Alltop’s creators take the time seek out worthy sites through research on google, visiting the sites, recommendations via social networking sites, such as twitter, etc. Alltop subtopic pages reveal the site name and the five most recent stories, which is incredibly important for the “startups” page, as new ventures are being created at a rapid pace. Most important, they offer “diamond in the rough” sites, which is very valuable to me as I seek out unique content about entrepreneurs (I highly recommend that you visit WorkHappy.net “killer resources for entrepreneurs”).

I would like to thank the creators of Alltop, Guy Kawasaki, Kathryn Henkens and Will Mayall, for creating this useful tool that offers relevant and timely headlines (especially about startups) in an approachable site. They truly mean it when they say, “we’ve got startups covered.” Consider it a virtual library for the resources you’ll need to be a successful entrepreneur. That being said, I hope they consider adding Phillypreneurs to the “startups” page (cough, cough). But seriously, we would be truly honored. Make sure to visit Alltop’s startup page, and who knows, one day you might scroll over Phillypreneurs while you’re getting the latest update on the best entrepreneurial resources.

alexis-s Alexis Siemons is a freelance writer and creative business consultant living in Philadelphia. She has a passion for language and explores it in her blog, The Lexicon . When not using both hands to feverishly type, she balances a teacup in one while working on her tea blog.
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Describing the world in 30 or less: Phrazit launches

posted August 14, 2008 by David Speers  |  Comments (2)

Being brief has always been a skill in communication, a skill that’s never been more important than in our current info-saturated world. We’re a cliff notes culture, and while that might have a slacker connotation, its become a necessity of modern life.

Take movie reviews, for example. Every news paper in the country has a Film Critic who writes between a paragraph and a page of cinematic prose, way too much for me. Considering how insane my life is, I truly need the thumbnail version, Rottentomatoes.com, which aggregates the most descriptive two lines from the best critics in the country and presents them in an easy-to-read format. It’s simple, it’s insightful, it’s awesome! Wouldn’t it be wonderful if everything in life had a summation tool like Rotten Tomatoes?

Enter Phrazit: Phrazit is a way to browse and share condensed reviews on anything! It is one of DreamIt ventures’ most recent projects here in Philly. Phrazit has an ambitious and frankly massive goal of describing everything within 30 characters or less. Not sentence, not words, but characters. That makes Twitter look like a Wikipedia article.

Phrazit has just launched today and they’ve already scored the holy grail of PR for their online app, a Tech Crunch shout out. I spoke with one of the founders, David Kosslyn, about the launch and how their servers were handling the attention:

“This morning Phrazit began a full-scale launch with an article about us on TechCrunch. The past couple couple days have been full of last minute coding, advice and writing. The anxious anticipation of the launch made for a few sleepless nights, but we were relieved to see that the article didn’t tear us apart, and that our servers have been handling the load. We’ve also been receiving some brutally honest comments and feedback, which have been incredibly helpful in giving us a sense of where to go.”

Read the Tech Crunch article on Phrazit.
More about Phrazit: condensed reviews.
More about DreamIt, the home of Phrazit.

david Dave Speers is an online marketing consultant and start-up junky that has worked with a wide variety of Philadelphia businesses. Dave spends most his time annoying really smart people at Indy Hall co-working collaborative.
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Food For (Entrepreneurial) Thought

posted August 8, 2008 by Alexis S.  |  Comments (3)

This past Saturday, I treated my taste buds to a fantastic dinner at JAMES restaurant in the Bella Vista neighborhood (I highly recommend the sweet herb agnolotti dish and the beer ice cream). A few days later, I found many more reasons to love this Philadelphia dining establishment after sitting down and chatting with the owners, Chef Jim Burke and Kristina Burke, General Manager. Both Jim and Kristina are true entrepreneurs and have a long history with Philadelphia, as they both have spent much of their culinary life working here. In fact, history is what they both love about Philadelphia, as they believe it is “comparable to a European city, in the sense that history is preserved and it is not afraid of being new.” Their history with the city’s restaurant industry is a big reason why they chose Philadelphia for JAMES’ location, as they’ve made strong connections with farmers, purveyors, future customers, and business contacts over the years. Jim noted that, “those are the people who you need to support your business, as it is a daunting task to start from scratch in another city where you have no history.” The underlining message to entrepreneurs is, start in a place where you have already built a solid reputation and let your previous successes support your new adventure.

The process of idea to conception for the restaurant only took Jim and Kristina a year and a half, and after creating the business plan JAMES was open in less than 5 months. During that time, the biggest challenge that Kristina and Jim faced was only having two sets of hands to get everything done.  Most restaurants have an opening team and entourage that take care of the logistics, construction, etc., however, Jim and Kristina managed to successfully get JAMES up and running by themselves. They stressed the importance of sticking to deadlines and maintaining a steady pace, as “it’s a domino effect. If you don’t get the gas turned on then you can’t get the liquor license, etc.” That being said, they believe that the bureaucracy of Philadelphia deters entrepreneurs and small businesses from opening, as the process is complicated. A simplified process would benefit both the entrepreneurs and the city because, “what makes cities unique are small business owners that bring their own flavor. A boutique style attracts tourists and new residents, as it creates a desirable identity and atmosphere,” noted Kristina.

Eleven days after their opening, the editor of Food & Wine magazine made a visit to JAMES which was followed by a glowing review. Positive press continued as JAMES was awarded for a best dish and earned a spot as a top ten restaurant in less than a year. Six months later, Jim was named as one of the top ten best new chefs in Food & Wine magazine.

JAMES is truly putting Philadelphia on the culinary map with the commitment to buying local produce, not just in the summer months but year round in both the kitchen and at the bar. Jim noted that, “we’re advocates for farmers and we believe there needs to be change.” A dining experience is not just about glamour, but “the importance of knowing where you get your products from.”  The challenge that comes with supporting a local agricultural scene is consistently finding local produce year round for the seasonal menus. Kristina is committed to researching vineyards and seeking out new farms since their small sizes do not allow them to produce on a large scale. It’s not just about taste, but also having “entrepreneurs support one another and creating a sustainable local economy.” Lucky for them, Philadelphia has a strong network of organizations that connect farmers with restaurants.

Jim and Kristina are a truly wonderful husband and wife team. Their entrepreneurial success is a result of their trust and shared vision. Their advice to entrepreneurs is to “know exactly what you want to be and stick with it. You can’t be everything to everybody, even though most restaurants have mixed identities.” Their overall message: Know your strengths and your weaknesses. Have confidence in your vision. Be true to yourself, even if it sometimes feels like a risk. That big risk can lead to an even bigger reward, especially when you are as passionate as Jim and Kristina.

alexis-s Alexis Siemons is a freelance writer and creative business consultant living in Philadelphia. She has a passion for language and explores it in her blog, The Lexicon . When not using both hands to feverishly type, she balances a teacup in one while working on her tea blog.
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Interview with Al Taubenberger, President and CEO of the Greater Northeast Chamber of Commerce.

posted August 8, 2008 by Melissa  |  Comments (1)

I recently had the opportunity to sit down one-on-one with a very busy man, Mr. Al Taubenberger.  Most Philadelphians know him as the Republican who ran against Michael Nutter for Mayor, but many more know him as the president and CEO of the Greater Northeast Philadelphia Chamber of Commerce. He works day in and day out to help small and large business capitalize on new opportunities and network with one another.

1. What do you do for a living? How did you get started in the business? Was that something you always wanted to do?

“I am the President and CEO of the Greater Northeast Chamber of Commerce.  I was asked to apply for the position.  It was not something I wanted to do, however, it was brought to my attention that I could always say no.  But once I had the job, even from the first day, I knew that it was a job I would love and have every day going forward.”

 2. What would you do with your life if today if you knew you could not fail?

“Sky Dive, with absolute assurance that the parachute would open. I would do it, because failure in that situation could result in my demise.”

3. What characteristics or traits do you believe successful people have in common?

“High Energy, and Commitment to one another regarding follow up and keeping their word.”

4. How do you plan to change what you do today to grow your business for the future?

“More emphasis on Marketing and letting people know what I am doing.  I’m going to continue doing what I’m doing, but I’m going to turn it up a notch and do it even better and more efficiently.  Serving your customers makes it happen.”

5. How did you get others to believe in your dream?

By sharing the spot light and making them a part of that dream.  A long time ago a father of a United States President, by the name of Joe Kennedy said ‘A Successful Campaign is the Culmination of many people’s ambitions.’”

6. What is the biggest challenge you face along the way?  How do you overcome that challenge?

“Doing as many things as possible.  I always have a full day, servicing the GNPCC members, also with outside organizations and volunteerism. I am very involved in our community town watch and civic association, as well as the German community. I’m a father of 4 so I am constantly on the go.  Managing time can be a real challenge. Trying to be in 2 places at once can be done, it’s difficult, but possible.”

“I meet these challenges by working with people.  Telling them honestly what I can and can’t do.  And having people work with you in a very close fashion.  I couldn’t do any of the many great things I do if I didn’t have the support from friends, coworkers, and most importantly my wife.”

7. What kind of formal/ informal education do you have?

“I have a Bachelor of Science from the college of Agriculture at Penn State University majoring in agronomy, which is soil science and field crop management.  It is a totally different field than what most people expect.  I use it everyday because the one thing that is used in politics, business and agronomy is the artistic use of manure. Nothing grows without it.”

8. What advice would you offer to someone starting out?

“Know the business that you want to get in as well as possible, work for someone who is successful in that business.  Learn as much as you can about it and then when the moment is right, make an offer on that business or strike out on your own, making sure you have the capital to support it.  The more you know the better off you are.”

9. What is the one accomplishment that gave you the greatest sense of pride in what you are doing?

“Taking the GNPCC to the next level by starting a newsletter, which the chamber had not had in 30 years.  We’ve also built the chamber into something far beyond what I had imagined when I first started.”   

10. Will you run for Mayor again?

“I might, but I will not run against Michael Nutter.”

11. What kind of relationship do you maintain with Mayor Nutter?

“An excellent one.  We speak regularly and also meet on a regular basis, which is about once a month.”

12. What is the biggest change you’d like to see in the city of Philadelphia?

“More jobs, greater employment and opportunities for people who really have difficulty in the inner cities.” 

melissa Melissa Centifonti was born and raised in Philadelphia. She has a BA in Liberal Arts and spent her early career in art education. She currently works as a realtor on the Centifonti-Lippman Team in the Keller Williams Realty office, located in Washington Square.
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