Al Davis, of Offtoa Inc., said the company’s software can help entrepreneurs have successful business ventures.
“What it does is it helps to you find out what you don’t know about your company.” Davis said.
The software asks entrepreneurs a series of questions about their companies. Then, using the answers provided by the entrepreneur, it makes recommendations that help entrepreneurs make important decisions and minimize financial risk.
Offtoa helps analyze the financial information of companies and predicts how an investor might react to a company’s financial situation. Davis said that Offtoa cannot remove all of the risks entrepreneurs take, but it can help reduce them. The service gives entrepreneurs an idea of the path that lies ahead.
Offtoa employees don’t actually get paid a salary. Instead, they each own a portion of the company and earn equity on their share of the company. Because they still need a steady income, all employees have jobs separate from their work with Offota. According to the company’s website, they’re entrepreneurs who want to improve the startup experience.
Davis says that while the company has no problem turning a profit once they gain customers, they do struggle with finding them. He reached out to fellow entrepreneurs in the room for help in getting those leads to help the program to thrive. Entrepreneurs in the room had a lot of questions and input for Davis.
After Davis’ presentation, participants at One Million Cups switched focus to Catalyst week.
Catalyst Week is a free workshop that helps entrepreneurs achieve their professional goals.
SunPort founder Nick Williams said this workshop is a good way for entrepreneurs and startups to solidify an idea that they already have and focus on making it more tangible. The two weekends will cover strategies, SMART (Specific, Measureable, Actionable, Relevant, and Time Bound) goal setting, focus sessions, feedback and mentorship, and award prizes.
This is the second Catalyst Week workshop. The last happened in May last year.
The workshop is free to anyone that wants to attend and is filling up quickly, Williams said. He hopes that Catalyst Week will become more than just an annual occurrence and encouraged those who were interested to host a future event.
thrive. Entrepreneurs in the room had a lot of questions and input for Davis.
One Million Cups
One Million Cups is a national program that allows entrepreneurs to make connections, learn and engage with other innovators in the area. Every Wednesday morning at FatPipe ABQ, Albuquerque’s entrepreneurs gather and listen to speakers from within the community and get the opportunity to chat with others who share similar interests.
The room was crowded with entrepreneurs young and old. There were people who had been there many times before and those who came to check it out for the very first time.
After the presentations, the event was far from finished. At these events, the most important part isn’t those who are presenting; it’s meeting others entrepreneurs and networking with them.
Those who are trying to succeed gather at these events where they get to hear from other innovators. It’s all a part of the learning process.
“Learning almost always comes from failure,” Williams said at the event. Entrepreneurs need to embrace that failure so they are not afraid of it. He said that if entrepreneurs succeed right away, they probably didn’t learn anything.