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 Krannert Entrepreneurship and Venture Club (KEVC)  - Events
3/23/2007: 6th Purdue Entrepreneurial Symposium 
3/31/2006: 5th Purdue Entrepreneurial Symposium 
9/13/2005: "Do I have a product or a company?" 
4/19/2005: "Meet an Entrepreneur" Series #4 
4/1/2005: 4th Entreprenurial Symposium-April 1, 2005 
4/1/2005: 6th Annual Babcock Elevator Competition 
2/8/2005: Indiana Biomedical Entrepreneur Network 
2/4/2005

"Meet an Entrepreneur" Series #3
10:00:00 AM @ Rawls 3013
Q: Why you have kept the company privately held and kept away from funds from venture capital?

A: We have grown by internal funds and loans and have not received funds from venture capitals. One reason is my preference in life style. I like to focus on developing products that entertain many people and marketing them to as many as people as possible. If going to be public company, I need to spend my time to explain and persuade outside investors who are mainly interested in return in form of money. Another reason is a highly volatile nature of our business. We launch three new games a year and only one out of three goes well. It is like a movie making industry or we can say itís a kind of gamble. It is hard and requires much effort to make outside investors understand our business. I would not like to spend my time on such things. Thus, we are not likely to go for public in the future unless we find a very good business idea that requires huge funds. Fortunately, no employee has asked me why we do not go for IPO. It seems to me our about a hundred employees are satisfied with this policy and their lives at the company.

Q: How do you test and develop new products and what are the marketing strategies?

A: We do not do consumer survey or test marketing in developing process because it is difficult to obtain useful information without concrete products. Instead, we use internal employees and outside adviser committee to evaluate new products. As for marketing, we have primarily depended on words of mouths of users. But at the launch of our new online game, Golden Tee LIVE, we advertised through mass media such as TV commercial and magazine for the first time in December 2004. We will expand our advertising via mass media.

Q: What were challenges when you started business? Any advise for prospective entrepreneurs?

A: Be hopeful, but do not expect everything happens at once. So do not take out all you have and prepare for rainy days. Understand you weakness and hire brighter people than you so that they can make up your weakness. If you hire less brighter people than you, they also hire less brighter people than them. Success of company primarily depends on talent, creativity and dedication of people.

(Written by Akira Takahashi)

10/20/2004: "Meet an Entrepreneur" Series #2 
9/8/2004: "Meet an Entrepreneur" Series 
3/26/2004: Elevator Pitch Competition 
3/26/2004: Purdue Entrepreneurial Symposium 
 
 
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