Speaking to a sellout-crowd at the Canyon Park Technology Center in Orem, which currently houses 85 companies and 4,600 employees in Utah County, Bradford and Bullock dispensed several key pieces of advice to start-up and growth companies in Utah who are currently seeking new funds.

“We review hundreds of presentations,” Bradford noted. “Investors may spend only five minutes initially reviewing a plan. They are literally looking for the ways to say ‘no’.”

To surpass the current hurdles, Bradford suggested businesses focus primarily on the single, most-pressing customer need they address. More is not better, Bradford advises, but companies should be very clear about the core product or service they offer and should state that position strongly, in a minimum number of words—a page and half for an executive summary and no more than 10 simple PowerPoint slides at most. Supporting documentation—particularly a very detailed financial analysis—can be provided in an accompanying in-depth go-to-market plan.

Fraser Bullock underscored Bradford’s emphasis on simple and concise business strategies and added that one of the primary elements savvy investors are looking for are strong and proven management teams. Is your company lead by people who have done similar or identical projects before?

Bullock also noted the extreme importance of fostering a mentality of “watch every penny” with the funds start-up companies obtain.

“When we started the Olympics, we had a $400,000,000 budget deficit, and we were walking into the face of a scandal,” Bullock said. “We introduced a mindset of ‘watch every penny.’ Every company’s money is a precious resource. You need to differentiate the ‘must dos’ from the ‘nice to haves.’ At Olympics meetings, we scrutinized even the slices of pizza that cost a dollar per slice. But by the end of the Olympics, it was very ‘nice to have’ a $100,000,000 surplus.”

In conclusion, Bullock noted the strategic importance to the state of Utah that new ventures create additional high-paying jobs—an area where Utah has actually slipped from 96 percent to 79 percent in national rankings since 1983, Bullock said.

About UITA
As Utah’s premier professional organization for technology companies, the Utah Information Technology Association (UITA) exists to form closer relationships with industry and community leaders, develop superior management talent, sharpen professional skills and help gain access to capital. For more information on UITA, please visit http://www.uita.org.

About Canyon Park Technology Center
TCU Properties, established in 2000, has created the Canyon Park Technology Center as a premiere destination for technology companies and data centers in Utah. Located in the heart of “Software Valley” in the Wasatch Front, Canyon Park offers an unprecedented set of on-site amenities, a dramatic and beautiful setting, extremely competitive rates and access to a young, well-educated labor pool. For more information on Canyon Park Technology Center, please visit www.canyonparkutah.com.

Agency Contact:
Cheryl Snapp Conner
Snapp Norris Group
T) 801 208-1100

UITA:
Richard Nelson
T) 801.568.3500