Twin Ports Inventors & Entrepreneurs Club

Innovators and creative entrepreneurs in the Twin Ports come together to pool their ideas, discuss product development strategies, and explore methods for patenting and commercializing their products and inventions!

Twin Ports Inventors & Entrepreneurs Club
Meetings:
2nd Tuesday of every month
6:00 PM
Pilgrim Lutheran Church
820 Belknap Street, Superior

The Twin Ports Inventors & Entrepreneurs (I&E) Club is one of dozens of I&E Clubs in Wisconsin that have come together thanks to funding and support from the Wisconsin Entrepreneurs' Network and the Wisconsin Department of Commerce.  Whether you live in Wisconsin or Minnesota, you are welcome to attend!

For more information on the Twin Ports Inventors & Entrepreneurs Club,
call 715-394-8351 or e-mail ssembor2@uwsuper.edu.
 

Guard Yourself Against Identity Theft

Living in northeast Minnesota and northwest Wisconsin, we sometimes feel a sense of security in being removed from the hustle and bustle of the booming metro areas where crime statistics are drastically higher.  One of the most rapidly growing crimes in the world, however, may be as close as your backdoor - or your computer. 

Identity theft, where someone steals your name and other personal information to commit crimes (usually for financial gain), happens to more than 9 million Americans every year.  A recent study revealed that 2,905 Minnesota residents and 2,646 Wisconsin residents were victims of identity theft in 2004 alone*, and those numbers increase each year.

If you don't exercise caution, identify theft can rapidly destroy your life.  Millions of Americans have had their finances drained, their credit ratings ruined, and their personal integrity irreparably damaged as a result of identity theft. 

Not only do you need to be careful about your own personal information and finances, but you also need to ensure that as a business owner, you are taking the proper steps to protect your customers' personal and financial information.

There is no 100% foolproof way to avoid ever falling victim to identity theft, but there are a number of precautions you can take to protect yourself and your business, including:
 

- Do not divulge personal financial details over the phone or email. It is common for fraudsters to make phone calls or send emails in which they pretend to be calling from your bank or financial institution in order to verify your account information.

- Avoid using a debit card to make purchases online.  Depending on what type of debit card you have, you are potentially opening up access to your bank account should the website you're shopping on turn out to be insecure.

- Do not carry your social security card in your wallet.  If your wallet or purse is stolen or becomes lost, cancel your credit cards immediately.

- Business owners:  Protect your customers.  When your business obtains confidential information from a customer or associate, you are responsible for maintaining confidentiality and security over that information.  Keep your records in a secure place where they are neither accessible nor viewable by anyone unauthorized.

- Shred, shred, shred!  Destroy any documents that contain your personal and financial information.  If you are a business owner, this also pertains to confidential customer information.  Believe it or not, there ARE people out there who will sift through your garbage to obtain bank account numbers, credit card information, etc.

- Protect your computer.   Make sure you are adequately up-to-date with virus and spyware protection, use and update passwords often, and be wary of what you are downloading from the Internet.

- Check your personal credit report.  You can do this once a year for no charge at all by visiting www.annualcreditreport.com.
 

For more information, visit the Federal Trade Commission website: 

http://www.ftc.gov/idtheft

*Source: Federal Trade Commission

Tips for Young Entrepreneurs

If you're itching to start your own business but are hesitant about your age and lack of experience, you will find the following links both helpful and motivating:

Writing Your First Business Plan
http://www.nfib.com/object/IO_33182.html

This article comes from the NFIB Young Entrepreneur Foundation, a non-profit organization whose mission is to educate young people about the critical role of small business and the American free-enterprise system and to help students interested in small business and entrepreneurship further their education.

Mind Your Own Business
http://www.mindyourownbiz.org/default.shtml

A website developed by the US Small Business Administration and Junior Achievement Worldwide to address the needs and questions of young entrepreneurs who are interested in starting, running, and growing their own businesses.

"Gen-X Startup" at Idea Cafe
http://businessownersideacafe.com/genx/

A site with information, advice, tips, and resources for Generation X entrepreneurs looking to get started in business.

An Inspiring Story Close to Home
http://www.pinnacleservices.org/popups/Firm_Finds_Earthly_Reward.pdf

One of the most successful young entrepreneurs in America operates his business right here in Minnesota (St. Louis Park, to be exact).  President and CEO of the multi-million dollar booming enterprise Pinnacle Services is 27-year old Nicholas Thomley, a Maple Grove High School graduate whose entrepreneurial spirit took root in the 8th grade and grew until he launched his company at the age of 20, while still a full-time college student.
 

This Month's Featured Entrepreneurial Resources 

Minnesota DEED - Free Publications
http://www.deed.state.mn.us/publications/

The Minnesota Department of Employment & Economic Development has many useful publications available to you at no charge.  Download these guides from their website, or submit your order for a free book or CD. 

Wisconsin Department of Commerce -
Business Development Fact Sheets
http://commerce.wi.gov/BD/BD-Facts.html

The Wisconsin Department of Commerce provides a number of documents and fact sheets pertaining to small business and entrepreneurship in the State of Wisconsin that you can download directly from their website.