Finding the right way to engage employees can be difficult. Done without much thought it can be hit or miss; like engaging the Magic 8 Ball for an answer. Sometimes the answer is “YES” or...Read more »
Fahrenheit Experience Day at Lighthouse Lab’s
The Fahrenheit Group presented the Fahrenheit Experience Day to the Lighthouse Lab participants in late October hosted at the VCU School of Business. Fourteen members of Fahrenheit’s Advisory, Finance and Human Resource teams are involved with Lighthouse Labs, providing guidance and mentoring. The full day consisted of presentations by the six Lighthouse Lab teams and six breakout sessions led by Fahrenheit.
The Fahrenheit teams discussed aspects of the “Business Model Canvas” in each of the sessions on a rotating basis, personalizing their guidance to the context of the individual businesses. Topics included value proposition and pricing; market segmentation and competition; distribution and sales; business activities, human capital and operations; strategic partners and exit strategy; and key third party resources, investors and cash flows.
The Fahrenheit teams greatly enjoyed what felt like “team building sessions” with “bright entrepreneurs” and felt confident that a few of the teams likely will hit a home run with investors and customers.
The Lighthouse Labs participants (see portfolio here) enjoyed the “day of humble wisdom” from mentors who listened, asked questions and provided guidance specific to their companies’ needs. Although the breakout team leaders “did not mention their own successes, it was obvious from their guidance that they had achieved it” said a participant.
The team ended the day with a reception at Triple Crossing Brewery that included state commerce dignitaries, other Lighthouse Lab mentors and those in attendance throughout the day. Fahrenheit looks forward to its trip to Raleigh/Durham with Lighthouse Labs on November 12, 2014, introducing the companies to many of our business partners in the area.