Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Not every morning starts at Maple Hall, but when it does, it is time for Morning Momentum.

A signature program of the Knoxville Chamber, Morning Momentum invites recent business founders or small businesses to solicit candid advice from seasoned business professionals. Sponsored this month by Big Slate Media, the gathering promotes local business betterment through a real-time, honest brainstorm.

The rise of the founder

Brandon Bruce served as emcee for Wednesday’s session. His 121 Tech Hub in the Old City serves as a community hub and coworking home for Knoxville’s entrepreneurs.

Bruce opened the session with a striking statistic: LinkedIn has seen a 60% year-over-year increase in users with the title of “founder.”

This is proof that entrepreneurship is more alive than ever, but it also goes to say that having a business is harder than ever with competition everywhere.

Morning Momentum breaks down some of these barriers by providing new perspectives on what keeps founders up at night.

Hyperion Networks: Solving the lead gen puzzle

The first presenter was Joe Ray of Hyperion Networks. Founded roughly 12 years ago, Hyperion supports a diverse range of sectors, including manufacturing, healthcare, and retail, with IT and cybersecurity. See Ray’s recent Teknovation feature here.

Despite a steady client base and a healthy marketing budget, Ray noted a disconnect. While the demand for cybersecurity is skyrocketing, the firm has struggled to get quality lead generation. However, once they meet a prospect in person, their closing rate is strong.

The feedback from the business community: 

• Sell the Cost of Crisis: Focus messaging on the financial impact of a breach. A compromise can cost $15,000 to $50,000 in IT support alone, excluding legal fees and crisis communications.
• Find Your Niche: While Hyperion can assist any and all organizations, the group suggested doubling down on manufacturing. With hundreds of firms between Knoxville and the Tri-Cities, Hyperion’s ability to manage complex, high-power wireless environments is a major differentiator.
• The Power of Local: In a world where IT is often remote, Hyperion should pursue thought leadership around the value of being on-site monthly. Establishing a regional “boots on the ground” identity could increase the volume of viable local leads.

The Village Group: Boosting brand awareness

The second presenter, Curtis Lundy of The Village Group, addressed the need for brand awareness in Knoxville’s booming housing market. His business provides temporary apartment accommodations for an average of thirty days at a time. 

The main challenge is making sure they are known as an option against hotel stays, Airbnb, or a long-term lease. 

The feedback from the business community:

• Stop Chasing Everyone: Because The Village Group is a lean operation, the group advised Lundy to stop tailoring his pitch to every traveler. Instead of the average business traveler who only travels for a few nights and values hotel points and a convenient breakfast, he should specifically target travel nurses or engineering specialists who are on-site for at least a month. These professionals could value the ability to cook a home meal and do laundry after long shifts.
• Partner with Industry: The group recommended Lundy work towards becoming a preferred provider for hospitals and engineering firms to ensure a strong pipeline.
• The Flexibility Advantage: Lundy serves as a flexible bridge for those who aren’t up for a traditional apartment lease. Since The Village Group holds the primary lease, customers act as sublessees, allowing Lundy to be more lenient if a client must vacate early due to job changes. The group suggested he illustrate the cost savings of his model by comparing it directly to the steep penalties of breaking a standard apartment lease.

Join the momentum

Interested in sharing your business challenge? Apply now.

Register to attend the next Morning Momentum on April 2. 

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