The light is coming for Detorit

Everyday I try to read at least one article, blog entry or book chapter related to business.  My desk is simply stacked with reading material spanning everything from Inc. Magazine to MBA for Dummies.  Yesterday, I noticed there was an article about “the 10 best cities to start a business in” on the cover of Entrepreneur.  I opened the book only to be disappointed.  I thought to myself, why have they not cited Detroit?

As I began to read the article, I realized that they weren’t focusing on cities that were ripe for change and advancement; they were more so highlighting cities they thought embodied the entrepreneurial spirit.  Unfortunately, Detroit doesn’t quite do that yet.  I figure they could have at least mentioned Ann Arbor, there have been a number of start-ups there, but much to my dismay no mention of any city in Michigan.   Continuing to read, I started to notice statements like “their unemployment is near 10%” and “the cost of living is more affordable than it has been in eight years”.  Do people not realize the unemployment rate in Detroit is about 15% (50% more) and the cost of living is borderline cheapest in the nation haha.  It really isn’t a laughing matter, but I still feel like people are not realizing the potential of Detroit.

I would call Las Vegas, San Diego, Phoenix or Austin interesting places but not necessarily anything special for entrepreneurs (four of the cities they cited).   Vegas is a great place to party;  San Diego is a nice place to sit on the beach and they have a nice Zoo; Phoenix is super hot if you need a tan; Austin is a great place to meet women I hear;  But I really don’t think any of these places can beat the opportunity inherent in Detroit.  The local talent of Detroit is unbelievable.  Just think, the guy who came up with Google, one of the original engineers of the ipod, and even looking all the way back to Motown music or even the Model-T automobile, Michigan has brought greathings to the world.   I truly believe that with the right industry in place, Detroit can thrive once again and Michigan can began to cultivate and utilize its talented workforce.  I’m not the only one who believes this though, there are a number of great organizations labeled business accelerators that have started in Michigan recently to support entrepreneurship and the revitalization of the local economy.  One group in particular that comes to mind is Ann Arbor Spark.

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After receiving e-mails and comments from my peers regarding the purpose of this site, I realized it might be time for a quick refresher on what exactly is going on, and why this blog exists.

In short, a young group of entrepreneurs and philanthropists from the Michigan area decided that they wanted to make a difference in Detroit, and help rebuild the economy. This led to a number of business ideas and the one that was found most opportune was a broadband video venture. This venture is code-named Motown Initiative to not only reflect our social mission but also to communicate that the project is entertainment related. Furthermore, it is our hope that this new business will bring Detroit the success it had back in the Motown days.

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This isn’t a retro post…this is my first current post haha

We were down in Manhattan Beach,CA last night BBQ’n and the whole Motown thing came up in conversation, as a couple of our friends wanted an update on MI’s progress. One of them pointed out something very interesting.  Apparently, without even having capital on hand, I can obtain a valuation for Motown Initiative.

One of our other friends actually got valuation for his start-up by presenting his business plan alongside some basic webpage examples.   I think if I take the time to refine my webpage wireframes as well as the appearance of the business plan Motown should be able to seek out valuation. This is exactly what we need to further pique the interest of some investors.  Without a fully functional product, market traction (aka your support) and valuation are key.   (follow jump for more)
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March 26th, 2009….Today was by far the craziest day in my corporate work life.  It was layoff day, and when I say that I mean the entire day was spent laying people off.   No one knew who would be taken out.  Also I know is, I made it through the day, and just as I was walking out of the building….they came for me.  I sat down with the lead VPs and the talk began…

VP : “I have the unfortunate duty of telling you that your position has been eliminated”

Me : “Does that mean I get free money?”  (Severance package was looking good hehe)

VP : “No no, not so fast, you’re not leaving quite yet, we value your qualities and thus we have created a new position for you”.

:-o….Having mixed feelings about it, my reaction was simply
Me: “oookkk, thanks”

So what is my new position?  Just take a guess?  Guiding their brand online

Now, how in the world is it that I finally found a business to develop completely unrelated to my job and within 3 weeks they create a position for me that will almost certainly place me in contact with interactive companies.  I never saw this coming.  Without hesitating I exposed my latest business to the VPs.  Their mouths dropped. Well I shouldn’t say “their”, one of the VPs has always known of my business ventures, but the subject has always been the “don’t ask don’t tell” realm of things. However, after deliberation, they didn’t see any immediate conflict of interest.  Soooo looks like I’ll continue on in the corporate world for now, spending my nights on the Motown Initiative and my days at …. a company haha (I’ll keep my office private as I may bash on them sometimes haha).

I’d like to give shout-outs to

-    God for letting me get a sorta-promotion on lay-off day
-    The VPs for keeping me on despite the Motown Initiative

March 22nd, 2009…I spent the better part of my Saturday sitting in my living room with a white board and a marker, drawing a user interface for this so called broadband video idea I’ve been pondering.  As I continued to review the competitive battleground and our notes from the conference on Tuesday, I began to question the business model that I’ve had in mind.

Now there is nothing particularly wrong with the model; in fact I personally still think its great, but there is a fundamental problem with the direction my business seems to be going.  It looks as if I’m trying to replace cable TV.  Now some of you are saying “that’s a great idea, I wish I didn’t need cable”, but the fact is there is quite the business model attached to traditional TV.  I can tell you right now, major networks and cable providers are not about to part with their billions in ad revenue.

I decided to just start typing down all the potential components of the business model and how they may actually fair in the eyes of major networks and investors.  The list got pretty long, and my mind went pretty numb, so I had to call it day.   To compliment a day’s work, I decided to go visit my friend’s house and they just got a PS3 and Wii….sillyness…

Side note:  I did enjoy my gaming night but it was somewhat discouraging.  Remember the 8^th grade, in your parent’s basement? Yea you do…playing video games until they’d force you to go to bed.  Well I sure can’t do it anymore.  After 3 hours of Street Fighter IV, I not only felt like I just took a 5 mile run but my thumbs were sore too.  In fact, forget past tense, my thumbs ARE STILL sore.  I hope when I wake up my thumbs are back in commission :-/

March 19th, 2009….Yesterday one of my partners in NY attended the VideoNuze conference and he came back with a plethora of knowledge.  We even spoke with our first VC, which was kinda exciting.  An entire report has been compiled on our activities from the event, but I have to keep that document somewhat internal. I will entertain you guys with some very key excerpts though. (follow the jump)

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Greetings to all,

This is my first entry,  im getting settled into the site and what not, so bare with me.  Overtime it should start looking a little more cool and hopefully I’ll get you guys engaged through commentary / suggestions.

My writings here will serve to keep everyone abreast of Motown Initiative activity from an “insider” perspective.  What is the Motown Initiative you may ask? Well let’s start with the word Motown.  If this word doesn’t automatically bring the city of Detroit to mind, you’re gonna wanna start by clicking here (a little wiki action for ya :)).   Now going back to complete name.

Motown Initiative is actually the code name for an upcoming tech-start up I believe has the ability to  breathe new life into Detroit.  By bringing relevant business that is non-automotive dependent to the heart of the city,  Motown Initiative hopes to rebuild the economy of Detroit step-by-step.   Imagine a broadband tech company that not only defines its success by monetary measurement but by social impact as well.   Working with local community organizations, educational institutions, philanthropists, broadband industry leaders and local businesses, Motown Initiative will work to redefine Detroit business.  This is in short the best description of the business Motown Initiative will establish.

So if you are like me, and you have a genuine interest in seeing the historic city of Detroit revitalized,  I encourage you to track my blog rss feed.   As time goes on the direction and details of the Motown Initiative plan will be revealed.