BLOOMFIELD HILLS ? Two years ago, the law firm of Hertz Schram started an informal monthly get together for business owners who were seeking legal advice. Now this informal “Shark Tank” has added an improved online presence where entrepreneurs and investors can share ideas and get advice in cyber space.

The web site, called DealIncubator.com, is still sponsored by Hertz Schram. But four months ago, Genesis Turnaround, a full service business consulting company that specializes in turning around distressed businesses, joined forces to give the former DealGateway.Com site more depth.

About 18 months ago, Hertz Schram created DealGateway.Com to take the process online. Four months ago, DealGateway.Com was changed to DealIncubator.Com for both companies. It?s been live for three months.

“The biggest thing is we?re attracting more people who are interested in learning more about business,” said Scott Lund, Genesis Turnaround Founder and CEO. “We help them filter through the process of creating a company. Genesis Turnaround can tell companies what they shouldn?t do since we have a lot of experience with distressed companies.”

Lund said what happens at the meetings, held the first Tuesday of each month at Hertz Schram?s Bloomfield Hills office, is entrepreneurs and investors come in, throw out their ideas, and the experts in attendance punch holes in ideas that aren?t yet ready for prime time.

“It’s kind of like Shark Tank on TV,” he said. “We’re trying to help entrepreneurs come into business reality. What we’ve done is turned into more of a business incubator than a legal advice session.”

Lund said he gets 30 or so entrepreneurs attending each monthly session, which turns into standing room only at the Hertz Schram office. The new web site, live for only three months, has more than 50 users signed up so far.

Ken Silver of Hertz Schram said he reached out to Genesis Turnaround four months ago because he wanted its business expertise. Lund also helped Hertz Schram develop the new web site, DealIncubator.Com.

But why did Hertz Schram develop Deal Gateway two years ago to begin with?

“There were two primary reasons: It?s fun. We meet a lot of interesting and creative people. In this difficult economic environment we want to promote entrepreneurship in this area for our mutual benefit.

“We also get deal flow for us,” Silver said. “It’s an extension of the marketing efforts by the law firm. We get some business out of it. Hopefully the people who attend get value out of it as well.”

The next live Deal Incubator session will be held April 6 at 4 PM at the offices of Hertz Schram, 1760 South Telegraph Road, Suite 300, Bloomfield Hills.

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