McCombs Alumni Network News

From Austin American-Statesman in McCombs Today

What has changed at Phurnace Software since it was founded two years ago?

Not much. Only the product, the marketing strategy, the customers it wanted to target, its hiring plan and the amount of money it intended to raise. Also the sales strategy — three times.

“At one point, we stopped writing our business plan in Word and just did it in PowerPoint because it was easier to change,” said Daniel Nelson, MBA ‘06, co-founder of Phurnace, which won the 2006 Moot Corp competition at the University of Texas McCombs School of Business.

Nelson spoke last week at a reunion of previous winners of the annual Moot Corp event, which pits student-originated ventures against one another before a panel of judges. Winners receive free office space for a year at the Austin Technology Incubator as well as consulting services to kick-start their businesses.

Read the complete article about Nelson’s evolving business strategy.