Some thoughts on creating a great entrepreneurial ecosystem
I’ve just looked over Brad Feld’s outline for Startup Communities: Creating a Great Entrepreneurial Ecosystem in your City and , being a part of the developing startup commmunity in Los Angeles, I decided to pull together my most recent perspective.
An Ecosystem is Cohesive
Most communities can probably point to a handful of local meetups or user groups occuring periodically in their city, but they might be hestant to say they have a startup community there. Why? Most likely because there’s no real cohesion that connects those groups together in a meaningful way. The Hadoop group and the Node.js meetup are separate populations, even if members cross over. This, however starts to change when you…
Help Infrastructure Develop
The shared workspace is becoming a critical factor in startup ecosystem development. They evolve from the home office to the coffee shops and public libraries into multiple companies sharing an office or coworking facilities. But the common thread is the same: different people in the same environment with startup culture in common. I’ve heard a lot of people talk about diversity being key in coworking spaces, and I believe there is some relevance, but I tend to think common culture is more important than diversity. Diversity helps with creativity, but common culture helps momentum. For the new entrepreneur making the leap this is critical as they begin to…
Practice Entrepreneurship
It almost seems crazy to think that there’s a way to practice being an entrepreneur, but it is happening. Events like hackathons and Startup Weekend are two obvious examples of where entrepreneurs spend intense amounts of time learning by doing. The risk is low and because of this sense of safety new entrepreneurs are able to express themselves in actionable ways like they’ve never been able to before. The well-known entrepreneur Sam Wyly has a quote that I think about a lot. He says, “If you don’t know who you are, being an entrepreneur is an expensive way to find out.” While I believe that expense is there for an important reason, I do think that it’s becoming less expensive in a way that’s just as important. The ability to practice building a company through simulation or some other method inevitably grows into prototypes, products, and new businesses that entrepreneurs can be proud of. Even if it’s a failure, a platform of learning is established that hopefully leads to future success. For this reason, when a startup has something to show off I like to…
Let them share, Let them be proud
Not everything is going to be a win. Not everything is even going to be good. But from my perspective as a community member I want to encourage startups to share what they’re doing. I want them to get feedback from other stakeholders in the community. I believe in this way they can get better. Having local “megaphones”, professional and amateur journalists willing to promote the startups is really valuable to the community as a whole. Having places where startups can promote what they’ve done helps generate buzz. It also tends to bring startups together as they recognize commonalities. This is important because…
Connecting to other founders keeps you going
Anyone who has participated in a startup knows how lonely it can be. Few outsiders understand what you do. Fewer understand why you do it. Being able to connect to other founders and team members on a social level just keeps you going because, in a way, it’s validating. No one else gets your jokes, cares about the things you read, or understands what inspires you in the same way. Being able to grab drinks with other startups - and having places where this happens routinely - helps in the obvious practical ways (talent and knowledge sharing) but also in ways that are beneficial to the psyche. The dark side of course is that occasionally the emotional turbulence can lead to….
Infighting that will destroy your ecosystem
Passionate people are passionate people and they’re not always going to agree. There’s nothing wrong with that, but it can quickly get messy if there is internal community infighting and it will really slow the growth of your developing ecosystem. To combat this…
Continually reiterate and promote the values of your community
Create a community where helping each other is encouraged and where people are excited about growing the ecosystem. It’s not all selfless. Supporting positive community values helps all of the stakeholders and the businesses that support them.
I have numerous thoughts about this topic and hope to dive into more of the details about workspace as community as I watch the Los Angeles startup ecosystem develop. My perspective continues to evolve as I get to meet more new entrepreneurs and ecosystem stakeholders. But as we head into 2012, these are the components I am reminded of.
Happy New Year!
See thoughts on this same topic from:
Marc Nager Contribution to Brad Feld’s “Startup Communities” post
The Franck ENTREPRENEURIAL ECOSYSTEMS : DO OR DO NOT THERE IS NO TRY
This film captures the journey of two individuals at Startup Weekend in Toronto: Ronan Levy (Delirious App) and Eugene Woo (Vizualize.me), and explores what it means to start your own business.
Loved it.
The question is, will your failure be the lesson that enables someone else to be successful or will you get the benefit of your failure?
Should Entrepreneurs Buy Into the “Changing Pace” of Innovation from @FastCompany
The article will give you insights to chew on, but it’s the above question that lingers in my mind.
And I think I got it to a point where I’m very comfortable with two simple principles. Which is, when looking at what you want to do with your life, find the way to optimize who it is, the quality of the people that you get to work with and the flow of opportunities that you’re going to be in the middle of because great people support each other and build great networks that reinforce this recycling of opportunities.
And the second is, great opportunities are essentially where you go next.
Randy Komisar on Optimizing Career and Life Opportunities via Stanford eCorner
Travel essentials: Belkin Mini Surge Protector Dual USB Charger →
I try to keep this with me always. While not perfect, it’s small and superbly functional.
I highly highly recommend this device.
When we travel, we try to pack as little as possible. On this trip, I tried to limit myself to 13 pounds. That’s really not a lot of stuff, so it’s critical that we only bring necessary stuff.
When I packed the “Belkin Mini Surge Protector Dual USB Charger” (recommended to me by Joe…
America's Healthy Infatuation With Entrepreneurs - The Atlantic →
We cheer for them because they represent our youthful hopes, our idealism, our ambitions and our dreams. And when these entrepreneurs defy the extraordinary odds, and succeed, we rejoice, for at the moment we can sense, if only fleetingly, the exceptional untapped potential within each of us. We rejoice, and wonder: what if?
For whatever reason, nothing has inspired like this has. My favorite talk. Thanks @plibin.
foodlatio: Los Angeles, I Love You →
You met her at a bar.
She was a perfect 10.
Actress. Model. Dancer. Whatever.You’ve seen her in pictures, watched her on TV, and heard about her from friends but you always wondered. And now she is right in front of you, but there’s just one problem, she’s a raging bitch.
She rarely…
You can’t solve this problem alone. You’re rebuilding an ecosystem. Who are the other organizations that must be part of your solution if this is going to succeed?
I am with @umairh (Umair Haque) on this one. Ideas matter. It is a skill to communicate the ideas in your head in a way that has meaning to others. And it is important to challenge your ideas to be substantial.


