The bwtech@UMBC Incubator and Accelerator Business Advisory Board meeting was held last week. This is another way, actually a pretentious way, of referring to the advisory board for the business incubator located on the campus of the University of Maryland Baltimore County.
Each board meeting we get a ‘parting glimpse’ from one of the incubator companies. This time it was our pleasure to meet Plant Sensory Systems, a very cool company that is developing technologies to improve agricultural performance. Their objective is to alleviate negative environmental impacts by optimizing the ability of plants to acquire and utilize nutrients to increase biomass, yield, and quality. Trust me … it is really cool stuff!
In any event, one of the founders, Frank Turano, spoke of their current success and their firm’s desire to build additional business value before they go out for additional financing.
This blog focuses on the need for midmarket companies to more fully understand what drives value in their companies. Building business value also applies to incubated companies. Frank instinctively knows that early stage companies also need to understand what drives value in their businesses. That knowledge gives him the focus he needs to reach his targets and fulfill his vision.
Chasing every deal for the sake of revenue can be fools gold. Laser like focus on your value drivers will build long-term business value.
Thanks for the reminder, Frank.