CHAKRA - business news from Third Eye Management

**Jim Grimes**

Work to your strengths, outsource to your weaknesses. It's a good guide to follow when you're a small business with limited resources. When we started Neoventus Design Group in the summer of 2005 we were like most small start-ups; we had our special skill set allowing us to provide a value proposition to our targeted market but we also had a skill deficit we hadn't thought much about. It takes positive thinking to make that step into the unknown of a new business but it takes evolution to keep it going strong.

For the last five years Neoventus has done an admirable job of surviving, even through the latest severe downturn. We've built a very loyal but small customer base through the age-old method of going beyond expectations, with the electronic design and support services we provide. Despite this, the move from surviving to thriving has been elusive. Revenue has been cyclical and driven by too few clients.

My business partner Mike and I have been designing and

**Mike Koch**

debugging electronic systems for various large and small corporations and government entities since the mid 80s. We've been fortunate to have the contacts and reputation within the industry to help get the business rolling with those critical first jobs. What becomes evident after that initial glee is that you can't grow a business appreciably through past contacts alone - you have to expand the circle, further distribute your name and reputation, build recognition and a positive public image ... the skill deficit quickly surfaces for the introverted engineer.

Last year we had the good fortune to be introduced to Third Eye Management by Pat McCann, a local friend and business associate who happens to also be a colleague in Karl and Adrian's extensive network. While Neoventus is in Charlottesville, Adrian is in Atlanta and Karl is in Naples, it was pretty evident on the first call these guys could help us regardless of locality. Third Eye's knowledge lies in business and marketing which aligns perfectly with our - and I think many small business owners' -ignorance.

Hiring someone with the real-world experience of Karl and Adrian would take a six figure salary - not even a remote option for us; but through weekly, plus as-needed conference calls we're able to get the knowledge we're lacking to move our business towards "thriving". With Third Eye we've developed a coaching/mentor relationship which gives us the tools we need at a price we can afford. Getting back to the "outsource to your needs" issue, good advice but obviously not always possible for small budgets. With Third Eye, Neoventus is still doing most of the work, but we're not floundering to learn the ropes the hard way - our efforts are focused and proving effective by outsourcing the knowledge while providing the labor ourselves.

The initial concern over Third Eye's distance from Charlottesville has proven to be a non-issue. Between the exchange of presentation material, research on trade shows to target and how to present the company effectively, development of contact lists, newsletter material and format, review of proposals and calls covering each week's accomplishments and next steps, the "telecommute model" truly works in this case. We recently met face-to-face at a show in North Carolina and are working on a major brain-storming session this summer, so the in-person meetings are there when needed but the value of remote coaching has proven to be a big win for us.

One word of warning we received from Pat before engaging was that "Third Eye will push you out of your comfort zone" - very prophetic it turns out! It's not easy learning new skills but if there's a place that it's absolutely essential, it's small business. Third Eye will push you way beyond that zone but not without the coaching and support to make it work.

About Neoventus Design Group LLC

Neoventus Design Group is an engineering services company with core competencies in high speed digital circuit design and FPGA development. Drawing on several decades of experience, Neoventus engineers deliver custom design collateral meeting its clients' requirements on time and on budget. Its engineers have developed scores of custom boards and FPGA IP for applications in industrial controls, medical devices, government R&D and secure networking. To discover more contact:

Neoventus Design Group
2350 Commonwealth Drive, Suite E
Charlottesville, VA. 22901
434.974.6199

jim.grimes@neoventus.com