Retel Technologies(www.reteltechnologies.com) is one of HPA’s portfolio companies. They have an interesting, and inspiring story. As Booth Graduate students, they met and formulated their company. They won some entrepreneur competitions. A good sign. Although they received interest, they didn’t receive any meaningful money. They worked through the Polsky Center and polished their plan. However, they hit stumbling blocks. Eventually, they made their way to an incubator, Techstars, to redesign and focus their business. When they finally presented their company to Hyde Park Angels, it was a radically different company than the one envisioned when they first started working on it in business school. Retel received funding from HPA, and from several other organizations.
There are things that everyone can learn from Retel’s experience. First, not everything goes as planned. They were flexible, and adapted. A sign of a great businessman! Second, they stuck to it. Entrepreneurship isn’t easy. Retel hit many roadblocks along the way and figured out ways around them. They were what athletes call, “mentally tough”. Even though the situation was tough, they knuckled down and pulled through. They were creative. It was clear they had great technology, but it wasn’t clear how that technology would best be maximized in the market. However, they figured it out.
Recently, Retel has been featured in a couple of articles in two separate magazines. One was Pizza Marketplace. Retel was mentioned as one of ten technologies that could help you build a better business. Entrepreneur Magazine featured Retel along with some other companies in an article about businesses that started while in business school. It’s a great success story.
If you run a retail operation, you can take advantage of Retel’s hard work and make your company more productive. Go visit their site and see how they can help you.