Time Management

I am applying to the Micro to Millions program, the sister event to the Make Mine a Million $ Business. We don't qualify for the Make Mine a Million since we have not been in business for at least 2 years, but that doesn't mean that we don't have the chops ;-)

I am submitting a video to accompany the application. Do you realize how hard that is? I figured that since I am a relatively comfortable speaker, the recording process would take less time than it took to clean my desk. 20 takes and 2 hours later I couldn't get through an entire taping without making a stupid flub. It is actually funny, but you can see from the change in the background lighting that the day was ending. I finally came away with a recording that I could live with, but this is just one example of how my time disappears from me before I know it.

I am getting better about limiting how much time I will spend on a given activity, but I still feel like sleep is a waste of valuable time right now. There is so much that needs to get done and deadlines that have passed. Should I even mention how shot the Verify-crED development schedule is? You just want time to stand still.

Well, my time for this activity is done.

Don't You Hate Looking At The Others?

We have to do a competitive analysis for the business plan, and I admit that I hate the exercise. I want to believe that we are the first and only ones with the ideas, but we have to recognize that what we are doing is not new. What we do recognize is that we are approaching credential verifications in a different manner that will wonderfully differentiate our service / product (still don't know which to call it). Still, that doesn't take away the "I wish you didn't exist" feeling I have whenever I discover that there is another guy offering similar services. I KNOW that ours is better and more innovative, but I am sure that is how Ray Kroc felt when Wendy's popped up next door. A business associate gave me a great outlook. He said that we should welcome competitors because it justifies our existence. If no one wanted to get in our market, then investors would have a very hard time seeing the benefit. Now that is what I call a positive view! On another note, we need to change the name. My business partner hates Verify-crED. I thought that it was great because it continued the self-explanatory naming convention (it stands for "Verify Credentials"), but she thinks that is sounds like "crud". So, we decided to use our difference of opinion to our advantage by having another naming campaign. The great thing about this campaign is that we will invite our voters to use the service to better understand the great service we are providing. We are hoping that this approach will begin a PR campaign of sorts for us by others wanting to get in on the fun. We had a campaign to name Verify-ID and it was fun, so we are looking to repeat that success. If you would like to participate in the campaign to rename Verify-crED, shoot me a quick email message (jware@verify-ed.com) and I will add you to the list!

Painful Lessons

The last 2 days have been unproductive. Why? Because I dropped my laptop on the floor. That is right, I didn't close the protective case and it fell to the floor. As a result I blew the inverter and apparently jarred something with the hard drive because I was instructed to insert the recovery CD's in order to start the PC. Well, I followed the recovery directions that would leave my data files intact. I was very happy to see that my business plan and other documents were accessible, but I could not restore MS Outlook. I know what you are thinking, "just use your backup". Well, I am embarrassed to say that I am meticulous about My Documents, but I was not meticulous about MS Outlook. Considering that I LIVE in MS Outlook, this was obviously a very serious issue.

The point of this recount is to remind and reassure everyone that experts don't know everything and that with diligence and clues you TOO can be an expert. My husband, Chris, is a tech guru. I had a January archive of MS Outlook, and he managed to pull it up even though we were getting a million registry errors. He showed me how to gain permissions in safe mode and how to unhide folders. Regardless, we were unable to locate the most current MS Outlook files. First I took the laptop to the Geek Squad in Best Buy. He informed me that the process to replace the inverter and retrieve "locked" files would take about a week and a half. Who has a week and a half to be without their source of livelihood. But it turns out that the Geek Squad guy was the most knowledgeable of all the "experts" with whom I spoke. He knew enough that even though access to a folder was denied and showed 0 bytes, that it was just a permission issue that could be resolved.

Next, I took it to a guy who was highly referred. He is a nice man, but when he clicked on a folder and saw the "permission denied" error, he threw up his hands. He DID point out something that Chris and I didn't know. He said that the Outlook files should be in Local Settings. Chris and I had been looking in Application Data. This repair person wanted to send my PC to a recovery expert. I quickly took my laptop and went to a local computer repair shop. They were no better. They just pointed to the Outlook files that I already knew existed and INSISTED that these were the only files. When I tried to point out to them that those were not the most current files, they also suggested that I send the laptop to their recovery expert at a cost of about $800 (and who knows how many days). I ended up ordering the inverter and taking my laptop back. I knew that I could solve this puzzle.

This is where a little knowledge is key. Now that I knew where to look for my Outlook files, I used all the skills that Chris taught me. I logged on in safe mode, gave myself permission to get to Local Settings - AND THE FILES WERE ALL THERE!! I have never felt such relief! I paid about $30 to do the work myself (because I was charged an "evaluation" fee by repair person #3).

So, lessons learned as a result of this experience:
1) Time and knowledge will help you solve almost anything
2) The experts don't know what you need them to know
3) Never Give Up!!

As we embark on launching Verify-crED, I am holding these lessons high. I feel quite unknowledgeable on how to do certain things for this launch, but I KNOW what needs to be done. Unlike with my PC, though, I don't want to spend hours and days hunting for expertise just to end up doing it myself. I also hope that I don't get duped by an "expert". It is the same feeling that I have when I go to an unfamiliar mechanic. I feel wary at times when someone unknown offers "solutions" because they realize that we have a great vision and a service/product with real profit opportunities. Up until this point we have been relying heavily on very knowledgeable friends who continue to steer us in the right direction, never ONCE saying "what are you going to do for me". We realize that soon we will have to go beyond our circle, especially as we pursue investment dollars.

So, in reality, these last 2 days were invaluable because I was forced to find a solution to a major problem, and I did it. The reminder that we can successfully do this launch has been very appreciated.

Doctor Heal Thyself

The transition from employee to business owner is really difficult at times. When I was a project manager, I think that my tolerance for product development issues was greater. Although I would get annoyed, I still had the employee outlook of "well, it's not my money" or I would escalate it so that it was "no longer my problem". As a business owner, the only person on whom I can put the problem is my partner - and she already has enough on her plate.

Our developer has basically delivered what was requested. Hip-hip-HOORAY! At times there were communication issues, but in general our developer has been responsive. Well, last week I had the first meeting with the person who is going to spearhead the sales effort. The day before the meeting, our developer assured me that the features which were still "glitchy" would be fixed. Now, I KNOW based on my experience managing developers that you are supposed to add a couple of days to anything a developer promises - but we need Verify-crED launched and in use yesterday so I went ahead with the sales meeting. It was a disaster! Do I have to say that the features which define Verify-crED were not working? I was embarrassed and the sales guy was hesitant - not a good combination. I went back to the developer with my negative feedback, all the while hoping that I didn't dig a deeper hole (how many people have been in situations where someone holds something that is really important to you so you don't want to piss them off, but you also don't want to be the proverbial doormat? That is me at least once a day.)

I am very fortunate that our developer has integrity and stepped up to the plate. Moments like these reinforce my decision to stay with our developer, especially as he delivered a fully functional product the next day. A part of me felt like it was "a little too late", but the bigger part was grateful. I know that many of you are going: "why be grateful?", but when your future is dependent on so many things that you can't control, you are so happy when any of the pieces fall into place.

So, now the present. We are launching this baby! We are in user testing mode, cleaning up poorly translated text and going to present again to the sales guy. We are also now ready to get those partnerships in place. 2 steps forward...

Verify-crED: Is it a service or a product?

A couple of days ago we had our weekly meeting, and one intern asked whether Verify-crED is a product or a service? That is a good question. As she pointed out, we provide a service (credentials verifications) and allow users to purchase a product (the employer view). So it is both. Regardless of what we call it, there is MUCH interest - especially from small- to mid-sized employers who already feel overwhelmed with all that has to be done in the hiring process. Finding financing is tough. As I continue to kick myself for not getting a larger credit line when we started, I am knocking on various doors. Supposedly there is all this funding for growing small businesses, I just can't seem to crack through. First I approached our bank, who informed me that the credit line I am seeking exceeds the risk that they are willing to take. Fine. So, do I continue to max out my credit cards? I can't get an SBA loan because my husband is already on the verge of killing me so I can't even THINK about approaching the subject of using our home as collateral. I am trying to understand how angel investors and VCs work. I will let you know what I find out.

Verify-crED Business Plan

Today I worked on the Verify-crED business plan - in the strangest place. I took my daughter to a birthday party and hunkered down in the waiting room with my laptop. I have this laptop going everywhere. On Saturday mornings while my eldest daughter is at her fencing class, I sit in the car and drain the battery (actually, I have only done this once and I bought a jumper after that horrendous experience).

I anticipate that one of the requirements any interested investor will seek is a business plan - makes sense. It just feels like I am putting this together when I have the least amount of time.

As an aside, I attended a focus group at the NJ Star Ledger last week that was quite informative. The Star Ledger wants to revamp the business section to provide more for the small business. Interestingly (and wonderfully) there were not many small business owners there; rather there were quite a few representatives from organizations that support small businesses. At the meeting, I heard about all these seemingly wonderful resources that are available to me - but I know that muddling through the mounds of information is PAINFUL. That is why I think many small businesses eschew the help offered. The number of hoops through which you are expected to jump don't feel worth the effort. I am going to reach out to some of the other attendees to see if my perceptions are true. I just feel that at this time in our business cycle, I don't have time to waste. Everything I do has to positively impact the business and the return has to be as immediate as possible. So, when I go to the gym, conduct personal training sessions or coach Level 2 gymnastics - I look at those activities as helping me focus. I ran about 5 miles this morning and I felt so good. I appreciate the time to sort through my task list. I am always impressed by the people who can work out at midday. I need to start my day with activity, and I cannot break in the middle of it.

I wanted to also talk about Verify-ID (as promised). Verify-ID is our feature that allows our clients to submit search requests without the required social security numbers and dates of birth. Our clients can have our system send an email message to the search subjects that contains a direct link. This link takes search subjects securely into our system so that they can enter their own sensitive data. Neat, huh? It came out of my experience when I worked at an executive recruiting firm. There was a concern that candidates' sensitive data would accidentally end up in the search management database, so this feature was created to solve that issue.

We really try to make sure that we listen to our clients, because they are from where we will get the next great idea.

The Verify-crED Journey

We are getting ready to launch a new service called Verify-crED. As with Verify-ID (which is the reason Verify-ED even exists and I am sure I will explain more in the future), we came across an unmet need and decided to create a solution. Verify-crED allows job seekers to verify their own credentials and present a read-only view of the verification details to a prospective employer. Like many ideas, it is very straightforward and there are benefits for both sides of the hiring equation.

So - we have a great idea, a product nearing the end of development and various opportunities. What to do next? Well, one of the first things we have done is get much needed support. Since our product is innovative we decided to hire college interns. I have to say that the process of finding an intern who would be a true contributor to our company was not easy. I have conducted sessions at colleges about what employers seek, and I am saddened by the sea of uninterested faces. I keep trying to remember what I was like as a last year student, and I remember being ambitious even back then. So I wonder what these students are truly expecting when they get out there in the "real world".

I like to tell people about our hiring process. We post our intern positions through the college employment sites. When an applicant expresses interest, I always respond with 3 basic questions that "test" whether they even know what we do. It is so sad, but 9 out of 10 applicants never even answer the questions. This indicates that they are just throwing out their resumes hoping that one "sticks". No thought is even put into how the position will support their future career aspirations.

I am so happy that we have found a couple of interns who are not only interested in what we are doing, but willing to do the work involved in launching Verify-crED. It is a skill to recognize return on investment for the things that you do, and I am always impressed when that skill is exhibited in someone younger that 30.

So I met with our interns on March 31st and they hit the ground running on April 1st. On April 1, I conducted a presentation to fellow supplier members of the Council (NY & NY Minority Supplier Development Council). It was a co-presentation done with an awesome, knowledgeable presenter who represented Customized Benefits Solutions, Inc., an employee benefits and HR services provider. Her presentation was very informative and the attendees really received great information about how to approach their hiring process. I also believe that my portion of the presentation was well-received, and I greatly enjoyed the delivery (even with my "costume malfunction" at the end). I am constantly looking for more venues to talk about background screening and how it is one of the best, inexpensive ways to avoid potential liability.

As a result of that presentation, we received much interest in our services - and that is the goal. I am very happy that when people hear what I have to say, they realize the task of incorporating background screening is not daunting. This is the way that I like to do sales. I HATE cold-calling, which is a problem since I am the Sales department. One of the first things we are going to do when we receive investment dollars is establish a focused sales force. I - CAN'T - WAIT!

That leads into our current quest - proper financing. I find it interesting that I am reading all of these articles about the ways minority-owned companies finance ventures, and I realize that we have followed the (not-so-good) pattern. We have used expensive credit cards to grow to where we are now. Our revenue has grown over 2200%, but it is still not enough to support both partners. Verify-crED has such great potential to surpass the revenue opportunities that we can realize with background screening, we just have to really get it out there. We are looking at our competitors and determining what we have to do to make more of an impact than they have. We are happy that they don't seem to be on the radar other than in local markets. So, come along for the ride.

The New Verify-ED Blog

Hello Everyone,

Well, I am new to blogging so I hope that I properly maximize the benefits of using this tool. My goal for blogging is to give insight on our journey of day-to-day business and launching a new product.

For those who have not viewed our website, here is what we do in a nutshell: we verify credentials and perform background screening services. This may include verifying someone's education and conducting criminal record searches as they pertain to a prospective job.

I fell into this industry when I saw an unmet need. My business partner and I joined forces and we have been unstoppable! We are growing everyday, and we are always looking for ways to fill gaps in the hiring process.

One of those ways is our new Verify-crED service which is in its last stages of development. Stay tuned for more information!