reSET’s entrepreneurial community now has access to Executive-in-Residence (EIR) Eric Knight. As you might imagine this is big news! For 25 years Eric Knight has made a name for himself as an inventor, entrepreneur, author, and futurist. He has a laundry list of accomplishments, many of which are almost too incredible to believe. Knight received international recognition in September 2013 for inventing a method that has the potential to treat Alzheimer’s disease. His company, Remarkable Technologies, Inc., which was founded in 1994, has introduced a wide range of products and services into the global marketplace. In 2007 an aerospace venture co-founded by Knight flew 50 student experiments from around the U.S. and the world into space.

reSET is delighted to have the opportunity to offer our entrepreneurial community Knight’s 25 years of expertise as an inventor and consultant, as well as his experience starting and building companies with numerous successful outcomes. Weekly, Eric Knight will be available to work with entrepreneurs from all types of companies that sign up to meet with him.

When it comes to starting a business, access to a startup venture expert like Eric Knight is invaluable. He advises on development of business strategy, marketing, branding, prototyping, intellectual property, and more. Aware that it takes more than resourcefulness, creativity, and a competitive spirit to get a business off the ground, Knight helps entrepreneurs realize their vision and identify what success is and how to get there.

Knight’s residency is funded by Connecticut Innovations through CTNEXT. He offers entrepreneurs coaching, guidance, and connections to resources to help develop their businesses into sustainable entities. Since his residency began a few weeks ago, Knight has already formed relationships with entrepreneurs to help them develop strategies to achieve their goals.

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[collapse title=”Q: Eric, how did you end up here at reSET? Were you given a choice of location?”]

A: I did have a choice, but I wanted to find a location where I could make the most difference with my time. Transitioning out of the first year of CTNEXT and into the second, I wanted my time to be most productive and felt that the way my role as Executive-in-Residence was structured in year one was fine, but I wasn’t able to serve as many companies as I wanted to.

I asked myself, “If I could create the perfect situation for helping companies, what would it be?” I had worked as an EIR in a similar program years back. I offered office hours at NERAC in Tolland, and while I was there I worked with the director on a program that worked out very well. By the end of the day I could work with six or eight companies vs. one or two in more traditional means. I kept the success of that program in the back of my mind, and when it was time to put in a request for the second year of CTNEXT I adopted a similar program into my request. I wanted to pick locations where I could be easily accessed and entrepreneurs would be able to book my time.

Knight selected a few strategic locations along 1-84 where he could connect with entrepreneurs from the area. On Tuesdays Eric Knight can be found at Axis 901 in Manchester, CT and on Wednesdays Eric is stationed at reSET, the Social Enterprise Trust, at 99 Pratt Street, Suite 200 in Hartford, CT. He calls it “Innovation – 84.”

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[collapse title=”Q: When you meet with entrepreneurs, where do you start?”]

A: I never want to know what the companies are until I arrive. I don’t want any background. If you walked in and sat down, the first thing I would do is ask for your two-minute pitch. It takes people’s breath away because most often they aren’t prepared for that question. It’s helpful to me because I get a raw, spontaneous depiction of what they are doing. Because I’ve been doing this for a long time, I can pretty much tell everything I need to know about a company in those two minutes. What their brand positioning is, marketing, strengths and weakness, if they are even able to communicate the meaningfulness of their business. It gives me a quick frame of reference.

Then I try to break it down for them, write up a strategy and I give them a process ― to bring a product to market is scary, but if you do it in little chunks, that makes it bearable for most people. I like showing them that process; it’s not that hard.

What I try to do with any business regardless of structure: profit, nonprofit, social enterprise or not, is to make sure it’s grounded in some way that is self-sufficient. Everything else is just a bonus. When I’m talking with companies that come into reSET, I make sure they have something that is self-sufficient. In the long run it’s a stronger business model not beholden to outside business.

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[collapse title=”Q: Why do you start with that question: give me your two-minute pitch?”]
A: Simple: you’ve either got it or you don’t. Anyone running a company should be able to give that information off the cuff, automatically. I’m like a small business doctor, I have appointments, and I am diagnosing companies based on tried and true ways of measuring how companies function. It’s fulfilling for me because I get to meet many people, and help many companies.
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[collapse title=”Q: What is it about helping start-up companies that you find to be so rewarding?”]

A: I like to share. I’ve done work for some of the largest companies in the world, but what I do for them, the measurement of that success, is a drop in the bucket to the overall conglomerate of a business of that size. When I’m working with a company that’s just one or two people, I can make a suggestion and they can implement it today or tomorrow and come back a week later to tell me whether it’ worked or not. I find that rewarding because I’ve just seen a suggestion turned into action turned into success.

The collaboration among entrepreneurs is so cool; you get to think in different ways and create things that haven’t existed. Entrepreneurism and inventiveness merge in some ways; innovation is the common dominator for entrepreneurs and inventors. That’s why it’s so enjoyable; we’re changing the world; we’re changing things. Everything we see around us started with someone’s idea.

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[collapse title=”Q: Do you notice a difference between the businesses you work with at Axis 901 and the ones you work with here at reSET?”]

A: Less than I thought. I find there are many more commonalities than differences. Those being passion, whether it’s about a cell phone app or transforming food production; they are two very different things but the entrepreneurs are very passionate about them. I find if you take even the most abstract or nonsocial entrepreneurial type of businesses, in one way or another it’s helping someone. I would say there is an element of social enterprise at the core of 95% of the businesses I work with.

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[collapse title=”Q: What are your expectations when you walk in the door each Wednesday?”]

A: At the end of each day I hope to go to bed totally exhausted, but with a smile on my face. I like helping people, but I want to be thoroughly exhausted at the end of it. What I’m doing with CTNEXT to me, is a social enterprise. Being able to help entrepreneurs through this service, really it doesn’t get any better than that. I’ve been enjoying the feedback from entrepreneurs, too. It’s easy for someone to be polite, but you can tell when someone is fulfilled. My goal is to help entrepreneurs leave with a spring in their step.

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[collapse title=”Q: When did you become interested in social enterprise?”]

A: I enjoy the environment and making the world a better place so social enterprises are typically in line with my personal philosophy that if I’m going to do something I’m going to try and make the world a better place. For me, it just seems to be a natural fit that I would end up working with social entrepreneurs.

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[collapse title=”Q: What are some of the most common issues that entrepreneurs present you with? Have you ever been thrown a real curve ball?”]

A: Well I don’t have all the answers, but I do like figuring them out! The most common challenges are that entrepreneurs aren’t sure what success is. I might ask them, if this was a year from now what would success look like? Many of them don’t have that answer. They know a direction or they have a feeling, but they don’t know how to set goals. Until I know what that success metric looks like, I can’t create the path that will help them get there.

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[collapse title=”Q: You have been recognized for so many accomplishments over the years, what stands out to you as personal accomplishments?”]

A: My take aways are probably less apparent. Everyone talks about the historical significance of the rocket we launched into space. To me the biggest accomplishment was putting together a team. It was so challenging, I was one of two or three team leaders who brought together the individuals. We had failures along the way; things would explode and you know… But to enable a team to be resilient and overcome failures to achieve a goal; I think was what I take most from that project. I have several inventions, but it’s not the invention itself. I made a communicator for scuba divers, and a number of years ago I’m scuba diving with my wife in the Caribbean, across the way another couple had my invention that they were wearing! It’s fulfilling to know the invention and how it came to be. I was cobbling in the basement, gluing things together, then all of the sudden you’re somewhere and someone is using your product! That feeling is hard to describe.

When asked if there was anything else he wanted to add about his residency at reSET, Eric shared this sentiment.

“I enjoy what I do and feel privileged to be able to help. The environment at reSET is perfect for what I’m trying to do. Personally, I’m fulfilled. I like collaborating and working to help the businesses that come in. As long as I keep doing that, I know I’ll be making a difference. It seems like I do a lot of things, and I suppose that’s true, but really I’m a simple person. I enjoy helping people, everything else kind of fits under that umbrella.”