No matter how brilliant?an idea for a new business may be, without funds, an entrepreneur may find it hard to get that company going.
In a paradox of needing money to make money, some turn to a venture capital company for that financial jump-start.
Located in the Dundee neighborhood in Omaha, Neb., Dundee Venture Capital (Dundee VC) works to invest in e-commerce and web service start-ups across the country. Mark Hasebroock started the company in 2011, and uses capital to help these early-stage companies get off the ground.
?We look for innovative ideas and passionate people that challenge the status quo and solve a problem,? Hasebroock said.
By narrowing the prospective investments to e-commerce and Internet service companies, Hasebroock can stay focused on an area that is familiar to him. He has a wide array of business experience under his belt, most recently in co-founding several online companies.
?I think it is a great time to start these types of businesses and don?t see an end to the creativity and demand for new ideas,? Hasebroock said. ?Every day there is a new opportunity to create a unique business. I like niches that get ignored by the market.?
To what niches is Dundee VC paying attention? Hasebroock looks for entrepreneurs who believe strongly in their business and ?bet it all that this business is the next big thing.? People who are ?communicators that can tell the story over and over? and ?visionaries that see a problem, recognize they can solve it and lead the market, quickly? are also good fits with Dundee VC.
?We ask four pretty straightforward questions,? Hasebroock said. ?What?s the problem you are solving? What is the market opportunity? Why will you and your team win? Will you quit your job to make it happen?
?The good fits stand out. The poor fits as well.?
Dundee VC invests up to $500,000 in a start-up company, but it provides more than just capital to the entrepreneurs taken under its wing. Business owners can tap into valuable resources and knowledge from Hasebroock?s experiences.
Mark Hasebroock, Dundee Venture Capital
?We can help steer and advise to avoid many of the pitfalls they may face. Some may be obvious and others may not,? Hasebroock said. ?Establishing solid reporting and analysis, for example, will help build a meaningful dashboard so the founders can really determine if they are succeeding or failing. Sometimes this is ignored in the early days.?
How hands-on Dundee VC is with a company depends greatly on that start-up?s situation. Though Hasebroock prefers not to ?invest and then check in each quarter,? his level of involvement with a start-up varies based on what stage the business is in when Dundee VC steps in to help with financing.
This is true with the companies in which Dundee VC is currently investing. With Graphic.ly, a website devoted to authors and fans of comic books and graphic novels, Hasebroock works on the company?s board, but is mostly in the background for the company?s?12-month plan. The entrepreneurs are more experienced, leaving Hasebroock to be in a ?what-if, high-level type role.?
A second company, MindMixer, serves as a tool for community participation and communication. The website is often used by town leaders and elected officials.
Hasebroock explained that Dundee VC started helping MindMixer in the beginning stages of the business. He helped with the company?s direction for the first six months, guiding the business owners so they did not take on too much too soon.
?The founders were very energetic, smart and passionate but had not started a business before,? Hasebroock said. ?I provide daily involvement with them as it is a high-growth business that can also grow out of control if we all don?t manage the day-to-day expectations with the six- and 12-month plan.?
Dundee VC also invests in Tripleseat, a resource available to managers and owners of restaurants, banquet halls and other places. The website helps manage sales and event information.
Before Dundee VC, Hasebroock worked in a broad range of jobs. While in college at the University of Nebraska-Lincoln, he sold moccasins for spring break money, and later he had a small business selling popcorn to grocery stores. He also worked?in?commercial and investment banking. Hasebroock has co-founded several online companies, giftcertificates.com and hayneedle.
These years of experience led Hasebroock to the idea of starting Dundee VC.
?I always thought if I could be in a position to help provide the start-up/seed capital and advice to start-ups then I would love to do that. It seems to be a void in this area for this niche,? Hasebroock said. ?I was a commercial banker loaning money, investment banker investing and raising money, (and)?founder of start-ups. Bringing it full circle felt right.?
Dundee VC holds a unique stance in its focus on e-commerce and Internet service companies, and in its ?lack of red tape and bureaucracy,? Hasebroock said. Over the next five years, he has a goal of helping finance?10 companies.
In recent years, Hasebroock has seen certain trends within the realm of Internet companies. The price of the technology needed to start and maintain a business is about one-third less than what it was three years ago. The time it takes for a business owner to get his or her business going has also decreased.
?An idea can be hatched, tested and live in a matter of days. The mobile trend will only continue to grow and any e-commerce merchant that does not have a shoppable mobile site will be lost,? Hasebroock said.
From Hasebroock?s perspective, it is an ideal time and place for entrepreneurs to start their businesses. Often the biggest obstacle they face is fear.
Hasebroock reminds entrepreneurs that they are not alone.
?Odds are there are a few folks that have experienced and gone through what any other start-up is about to go through,? Hasebroock said. ?Don?t let fear keep you from your dream. It can actually be a great motivator.?
?While we may invest, we also want to make sure founders know there is also advice and support,? Hasebroock said of Dundee VC. ?We?ve been there and know what you are going through. And we think we can help create a road map for you to succeed.?
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