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My full assessment

Set up and Planning

  • Neutral
  • Neutral

Market Research

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  • Neutral

Finances

  • Not confident
  • Not confident
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Sales

  • Confident
  • Confident
  • Confident

Operations

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MN
  BMNY » Hofstra University

Michael Nickerson Entrepreneur

Location
Hempstead, New York, United States of America
Venture Industry
Financial/Insurance Services
Languages spoken
  • English
Recent Activity

What I need help with

My background as an entrepreneur

My current challenges

I work in an industry with times of unemployment during the winter months. Lack of finances during these times can sometimes be depressing. I also realize this same time can be a strong motivation. I need advice in the area of protecting intellectual property and contracts. As much as possible I'd like to bootstrap my business.

Actions I’ve taken so far

I've been participating in the EAP Program at Hofstra on different occasions and plan to finally complete the business plan process this go round. I'm more highly motivated since turning 60 a few months ago. The new format of the class also makes it easier to see the light at the end of the tunnel and is much clearer a process.

My future goals

After finally completing my business plan , I intend to implement all that I learn. I would like to create a brand recognized for excellence in service and execution of client expectations. The goal would be to maintain and expand market share in our space.

My motivations to work with a mentor

As a Boy Scout in my youth, I learned to do a good deed everyday. I also, know that I've benefitted greatly from adults in my life took time in their lives to share and advise me. Just last week, I participated in a Career Fair and spoke to high school students about my industry and career. I got so much from sharing. I actually want to give mentors the ability to feel the joy of knowing that their advice and input helped someone like myself and their efforts were not in vain. I want them to feel as proud of me as I am of my own children. They will also know that I too will carry the torch and pay it forward as they do.


About my venture

Prepayment Solutions (PREPAYANDSAVE)

The main part of my business is to create a platform that allows HNWI and business owners to prepay monthly recurring bills and pre-negotiated discounts for doing so. It would also facilitate their receiving prepayments. A secondary part of my business would be to help business owners reduce their costs in the area of merchant services by reducing transaction fees. I ultimately want to become a major certified minority provider of these services to major corporations.

Countries of operation: United States of America