At Advent GX, we’ve been truly inspired by the overwhelming response to the launch of the Innovation Underground, the independently owned and operated business incubator we opened in historic Downtown Bryan, TX in 2009. In the last several years, we’ve served more than 70 start-ups and graduated nearly a dozen fledgling businesses, many that have gone on to grow a significant presence here in the Bryan-College Station community. Start-ups like next-gen-educational-gaming company Triseum, and Beautiful Abilities, a community services provider to adults with intellectual disabilities, are expanding in our own backyard. Others, like Imani Collective, are making their mark in the global marketplace. Still others came to us from points across the pond and as far away as South America, expanding into the U.S. market through our humble operation in the basement of a former post office.

It is a privilege to work alongside these innovators and, frankly, it’s a lot of fun! Where else can you move between space technologies, bovine reproduction, performing arts, and medical devices all within the course of a single morning…and under one roof? We get to do a lot and we are grateful. We are also grateful for “Think Beyond Value: Building Strategy to Win.” This book, by our colleague and friend Dr. David Flint, introduces the V-REEL® Framework for strategy development.

What is V-REEL® and Why it Matters

V-REEL guides users to think through how they will create value and be rare in the marketplace, prompting important questions that all entrepreneurs should ask themselves and be prepared to answer as they are starting their business or expanding into a new market. Our members tell us that V-REEL has been incredibly valuable to them as they think beyond the value proposition to form a strategy to win in the marketplace.

“Think Beyond Value” has been equally important to our leadership team as we have come into our own as an incubator. Here’s why…we cannot and should not serve everyone we talk to. That’s true of every business and it’s certainly true of any business incubator.

All of us who are working to support start-ups have some way we focus and screen potential companies. At the IU, we focus on five core competencies of the individual entrepreneur but we also look to the entrepreneur to articulate their value proposition and an early concept of the business strategy. We’ve found that many, if not most, entrepreneurs struggle to articulate their value proposition. Our founder and CEO Jose Quintana joined David Flint on his podcast “Thinking Beyond: Conversations with Strategic Thinkers.” They talked about how V-REEL is addressing the problem.

“Today, we ask all prospect new members to read ‘Think Beyond Value’ and then present their concept to us in V-REEL terms,” Jose explained. “This exercise gives us a sense of the individual’s commitment and we are able to rapidly move into meaningful discussion of strategy.”

Entrepreneurs always have at least one idea. They have enthusiasm, and they generally have business acumen, but focusing in on how they will create value and articulating the challenges to doing so is a very common struggle. “Think Beyond Value” presents the V-REEL Framework, using simple, common language and a process that guides the user to a place of clarity. It has really changed how the IU operates for the better.

V-REEL® in Action

Today, our conversations with entrepreneurs really begin after they have “V-REELed” their ideas. By they time we are sitting down and spending significant time together prospective IU members have already considered how they will create Value and be Rare in their market. As prompted by the framework, we ask them to think through Eroding factors that might diminish their ability to be valuable and rare, and to consider what Enabling resources and capabilities they might be able to put in place to extend their ability to be both valuable and rare. Finally, we ask them to think about Longevity. How long before things change? How long before they can put enablers in place to defend against erosion? Do they have enough time to actually create value in the market? If so, wonderful! If not, we need to keep working through the framework.

Perhaps one of the most valuable aspects of the V-REEL Framework is the simplicity of the language. Increasingly, our operation is global, so the simple, easy-to-understand terms that Dr. Flint uses are a big boon to communication. We begin our relationship with common language and so we can really dig into the work of business strategy that much faster.

A Framework of Frameworks

Starting a business incubation relationship with a book isn’t an especially unique approach. I know many incubators have required or, at the very least, recommended, reading just like we do. In fact, we use “Think Beyond Value” and the V-REEL Framework right alongside other popular and useful tools, such as the Business Model Canvas. Dr. Flint designed the framework for that very purpose…to organize how and when to put various tools to work for your strategy formulation effort. The Business Model Canvas, the Resource Based View, SWOT analysis…these are great tools for thinking through and mapping out a strategy and Dr. Flint discusses all of them in “Think Beyond Value,” all the while avoiding overcomplicating the conversation. In fact, many of our entrepreneurs do not have a business background. You can see why a book like this is, well, valuable.

We incorporate all the great thinking that “Think Beyond Value,” the V-REEL Framework and other tools generate into our own proprietary ASD (AdventGX Strategy Deployment) process when consulting with start-ups as well as established corporations. We’ve done so since we began using ASD two decades ago, but using V-REEL to begin the conversation has proven invaluable because it saves time. Affording the entrepreneur the opportunity to stop and think things through in a simple yet complete fashion is incredibly important. Providing a common language we can all use as we determine if the company is a good fit for the Innovation Underground community is invaluable. And, if, for whatever reason, we or a prospect company decide we will not move forward together, we know we’ve at least given them a really solid basis upon which to build their business strategy.

On Tuesday, October 21st, representatives from the Belgian-based Wallonia Foreign Trade and Export Agency (AWEX) stopped by the Innovation Underground as a part of their visit with the Research Valley Partnership (RVP).

AWEX is a Belgian government agency that specializes in stimulating local economic activity, specifically among universities and research centers. Similarly, RVP prioritizes economic development utilizing the Texas A&M University system; together, these two entities form the Research Valley International Gateway. This collaboration has allowed the efforts of both entities to be recognized and implemented on a global level, making the impacts reach an international audience.

The Innovation Underground’s mission to encourage entrepreneurship, both on a local and global level, makes us a proud supporter of AWEX. The IU was pleased to host our new friends in Historic Downtown Bryan for company presentations at the SEAD Gallery and later at Grand Stafford Theater for a happy hour.

Innovation Underground’s newest member, Kinzbach & Associates, is a business consulting firm specializing in inventory and logistics, as well as business operations and management. Their team provides a hands-on consulting approach that implements custom, cost-effective, long-term solution strategies for each business and individual.

Kinzbach & Associates genuinely has family values at heart, as the company was developed by a father-daughter duo. CEO and Principal advisor – Brad Kinzbach, CPC, ELI-MP – has more than 35 years of experience understanding business priorities and contributing to business development and revenue-producing activities. Sarah Kinzbach, Chief of Operations, provides a fresh outlook on business, combining her creative skills with a seasoned resume that includes Associate Editor of the local Insite Magazine.

Working alongside a talented team, Brad and Sarah are committed to serving the community’s business needs. Their consultants specialize in all areas of business operations and management, including accounting, warehousing, human resources, and more. “If we are unable to offer assistance, we’ll help locate someone who can,” says Brad. Kinzbach & Associates is committed to the success of every individual or business, regardless of size, location or profit-margin.

To learn more about Kinzbach & Associates and find contact information for a free, confidential assessment, visit our members page.

Today’s  Smartphones are powerful enough to put a man on the moon, but we usually limit their use to sending text messages and browsing the web. Additionally, when new models come out, we simply throw the current ones away. Imagine the possibilities if you could use the computer in your pocket to its full potential? With Innovation Underground’s newest member, Minio Labs, you can! Discover all the possibilities using your mobile device: control your DIY projects, take measurements using existing sensors and play games free from limitations.

Using a small, external attachment, Minio enables you to make your device into whatever you dream it could be. Traditionally, your phone is locked into the hardware installed by the manufacturer. With Minio, however, users can unlock the potential of hardware IO blocks instead of conforming to standard boundaries. The Minio SDK even allows you to incorporate your custom hardware blocks into your apps.

Customization has never been easier (or more fun): with Minio, you can connect your smartphone to hardware that you create. Not only will your projects become truly mobile, but your smartphone can now be an extension of your project and your imagination.

To learn more about Minio Labs, or any of our other Innovation Underground members, visit our members page.

The Innovation Underground is honored to introduce their newest non-profit member, Gratitude Initiative (GI). GI’s mission is to provide college scholarships and educational support to the children and families of military service members, veterans, disabled veterans, and those killed in defense of our country. Over a decade of conflict and involvement in two wars has placed a stress on military and veteran households that is unparalleled in our nation’s history. GI and its supporters strive to ease some of the burden on these patriot families by helping their children achieve life-changing opportunities through education. Their main activities are:

1. Award scholarship funds to children to attend college or technical school to help make their future dreams come true without the burden of many years of school debt.

2. Provide educational services and support to help military children achieve their educational and career goals.

3. Raise awareness and provide services to help children cope with the challenges brought on by having a mother or father deployed overseas for military service or dealing with the disability or death of a parent due to combat action.

4. Host summer camps at affiliated universities for high school students to help bolster college readiness, celebrate being a teenager, and relieve some of the burdens brought on by the weight of a family involved in war.

The Innovation Underground Team joined forces with Gratitude Initiative last summer after serving together as mentors for the Entrepreneurship Bootcamp for Veterans with Disabilities.

To learn more about GI, visit our members page.