Entrepreneurial adventures offer lessons

December 20, 2011
Back to TopCommentsE-mailPrintBookmark and Share

Michael Cloran is problem solver. And he knows how to turn the answers into viable businesses.

Cloran, 43, is an Indiana University graduate who built and then sold a successful Chicago-based Internet service provider before launching Interactions Corp., a Carmel tech firm that has raised $34 million in venture capital.

The founding partner of Indianapolis-based venture development company DeveloperTown, Cloran now wrapping up a cross-country tour promoting uFlavor, a startup he hopes will become the YouTube of the beverage industry.

His partners in the latest enterprise—Purdue University grads Nathan Altman and Mike Mitchell—will handle day-to-day operations, in part because Cloran knows his limitations.

“Twice I took a company above 50 employees, and both times I broke it,” Cloran said. “I’m really good at the first part: coming up with the idea and making it work.” But when it comes to what he calls “organizational science,” he has learned to let others take the helm.

His insight is admirable. Rather than push himself to do something he knows others do better, he is content to focus on his strengths and make a difference there.

OK, now it’s time for some reader participation: What have your entrepreneurial adventures taught you about yourself? And how can others learn from those lessons?

ADVERTISEMENT
  • Limits
    I've learned that the more I learn, the less I know, and the more I want someone else to handle it. I'm also not terribly strong with fine details. To me, if it looks good and smells good then it must be good. That's why I surround myself with others who are better equipped to discover all the gory details. They tend to balance me out which helps us grow as a company and I, in turn, help balance them out because in a small company you usually can't take 6 months to go over every possible angle.

    Congrats to uFlavor's launch. Great idea with great minds behind it. Can't wait to see what they can do!

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

ADVERTISEMENT