July 1, 2008

Workshop offers officials from Purdue Research Park companies tips on how to increase sales and profits

The "Bigger Profits through Targeted Sales" workshop is designed for entrepreneurs and business owners interested in creating and expanding their companies. The event will be held from 7:30 a.m. to 6 p.m. in the Dauch Alumni Center at 403 West Wood St. in West Lafayette, Ind.

As part of the workshop, Gerry Dick, host and owner of Inside Indiana Business, will talk about his story as an entrepreneur and the challenges he faces as he grows his multi-media company in a highly competitive marketplace.

"Gerry will bring an entrepreneur's perspective to the workshop and will help make the concepts we present during the event really 'come to life,' " said Joan Fulton, lead instructor for the workshop and a professor in the Purdue Department of Agricultural Economics."We will cover a number of topics throughout the day, and each participant will work in small groups and one-on-one with instructors."

The program was developed by the Agricultural Innovation and Commercialization Center, New Ventures Team and Purdue University Cooperative Extension Service, and is presented in different venues across the state. The Purdue Research Park is coordinating the July 22 workshop.

"Entrepreneurs and small business owners can be overwhelmed by the everyday tasks required of them," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation, which manages the Purdue Research Park. "It's key to their success that they remain focused on their goals and they develop a sound foundation on how to manage a business. A workshop such as this one can provide entrepreneurs with new ways to develop a business and provide important tips on how to become and remain competitive in the business world."

The day-long event includes topics such as:

*How to define and determine target customers.

* How to differentiate your product and gain a competitive advantage.

* How to promote your business through the media.

* How to market your product.

* How to develop a sales strategy.

"The workshop combines academic content and practical application to a business," said Jane Anderson, instructor and senior project manager of the New Ventures Team. "We'll work with entrepreneurs and small business owners and help them position their product in the marketplace, analyze competition, and capitalize on opportunities for promotion and public relations."

Each session in the workshop is staffed with three professors and professional staff who serve as instructors. There will be a New Ventures Team member to assist with each discussion group.

Registration is $130 per person prior to July 1 and $150 per person after that date. Refreshments and materials are included. For information, contact Anderson at (765) 496-3099 or jane1@purdue.edu.

About Purdue's New Ventures Team

The News Ventures Team is part of the Agricultural Innovation and Commercialization Center. The program is an integrated, interdisciplinary applied research and extension program developed in response to needs expressed by Indiana residents to help improve the state's rural economy. The program is helping Indiana and U.S. residents evaluate ideas for new business ventures related to value-added products, start businesses that contribute to personal income and the economy of Indiana, and grow startups into successful companies.

About Purdue Research Park

The 725-acre Purdue Research Park (https://www.purdueresearchpark.com) has the largest university-affiliated business incubation complex in the country. The park is home to more than 140 companies. About 90 of these firms are technology-related and another 39 are incubator businesses. The park was ranked No. 1 in 2004 for university- affiliated research parks and received the 2005 Outstanding Commercialization Award, both from the Association of University Research Parks. The park's companies also have received numerous recognitions, including a 2006 MIRA Award: Innovation of the Year for Purdue Research Park/Quadraspec Inc. and a 2005 CoreNet Global Innovators Award finalist. The Purdue Research Park is part of the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development. In addition to the Purdue Research Park in West Lafayette, the foundation has established or is currently constructing technology parks in other locations around Indiana including Merrillville, New Albany and Indianapolis.

To the Purdue Research Park, https://www.purdueresearchpark.com

Purdue Research Park contact: Cynthia Sequin, (765) 494-4192, casequin@prf.org

Ag Communication contact: Beth Forbes, (765) 494-2722, forbes@purdue.edu

Sources: Joan Fulton, (765) 494-0594

Joseph Hornett, (765) 494-8645, jbhornett@prf.org    

Jane Anderson (765) 494-2722, jane1@purdue.edu