New entrepreneurs seek advice, contacts

Losing his full-time job last year after 20 years in the corporate world has unleashed an entrepreneurial spirit in Stan Edwards.

"I have no guaranteed income right now, but every day that I get up, I control my own destiny," said Edwards, a Hanover County resident who worked in corporate finance and operations management, most recently for LandAmerica Financial Group Inc. until the company filed for Chapter 11 bankruptcy in November.

Now Edwards is managing two startup businesses: an online apparel and decal seller called Live Like A Kid, which he co-founded with his wife, Laura, last year; and Core Business Resolutions, a two-month-old business which provides finance and management services for other small firms.

Both businesses are still in their infancy, but "I tell a lot of people that besides not having a steady income right now, I am the happiest I have ever been in my career," Edwards said.

Many others attending yesterday's Venture Forum Entrepreneur Fair reflected his sense of optimism.

The event, held at Capital One Financial Corp's West Creek campus in Goochland County, drew more than 200 people. Most of them are budding entrepreneurs or small-business owners.

The fair provided opportunities to make contacts at a "speed networking" session, and to get tips from experienced entrepreneurs at seminars with titles such as "What I Wish I Knew When I Started" and "The Elevator Pitch."

One of the key messages from established business owners at the fair was that becoming an entrepreneur puts you in charge of your career destiny, but it also takes a stomach for risk and a willingness to put in long, hard hours.

"At some point, you just have to jump in and do it," said Ed Kassab, co-founder and chief executive officer of Richmond-based home-health provider AT Home Care Inc., when asked during one of the seminars whether it was a good idea to start a business while also working another job.

But, he added, "Don't jump in unless you are fully committed. You have to believe in what you are doing."

Pete Hatcher of Midlothian said he attended the fair to get more information about obtaining financing for a gym he wants to open.

"That has been my dream since I was 17," said Hatcher, who owns home-improvement business For Pete's Sake. Financing is "the one thing I don't know much about that scares the heck out of me."

The Venture Forum is a regional group that helps connect entrepreneurs with sources of capital and offers networking opportunities.

While major job losses have hit the Richmond area for months, the downturn has unleashed many talented people into the marketplace who are now looking to try new business ideas, said Rich Reinecke, founder and chief executive officer of Career Quest LLC and president of the Venture Forum.

"This entrepreneurial spirit that we have in Richmond is one of the keys to bringing the economy back," he said.

Contact John Reid Blackwell at (804) 775-8123 or .