Entrepreneurial Ecosystems

Show Up

Surrounding yourself with fellow students, entrepreneurs, and intrapreneurs will keep you motivated. The goal is to find a balanced collection of community events. Commit to those who complement your life while seeking out new groups that make you nervous. This combination will connect you with people who can support, but also expand, your world.

Once you lock in on a few groups that can push you to be your best, show up. It sounds easy, but consistently showing up takes dedication. When we commit to showing up, we are being generous with our time, and generosity leads to trust. As trust surges, more meaningful interactions occur. This will increase the value you give and get from the community, which makes it easier to show up.

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Whether it’s a tribe you trust or a brand new experience, don’t waste your time by attending an event just to say you were there.

When you arrive, say hello to everyone you know. After catching up, shift the focus to meeting new people. For a jump-start, ask a friend to introduce you to someone you don’t know. If that’s not an option, go mix it up alone.

Be bold enough to enter existing conversations without an invitation. One way to do this in style is find a small group of people talking. Wait until you’re noticed, then casually say, “Hey, folks, whatcha chattin’ about?” Be respectful and prepare to expand on whatever they’re talking about. The group will soon want to know why you decided to join their conversation. It’s tempting to use this moment to talk about yourself.

Instead, surprise them by not trying to take over the conversation. Ask a question or share an intriguing thought that relates to the current discussion. The objective is to deflect the focus back toward the group. This deflection will weave you into the fabric of the discussion. You’ve now become a part of the group’s conversation. This will provide a chance to share your story with a more natural flow. Even as you explain your work, remind yourself that everyone loves talking about themselves. By letting them do so, you’ll be less as an intruder and more of interested addition to any discussion.

Perhaps you’re in a group and someone decides to join you? Be quick to expand the circle and compliment their initiative. Get curious and allow your inclusive vibe to create yet another new connection.

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Saying “yes” leads to more adventure, as the universe rewards our ambition.

By Ben McDougal, ago

Import Knowledge

The focus on a local business environment allows small businesses, startup communities and entrepreneurial ecosystems to support the people they are closest to. This concentration allows available resources to be optimized, but overextending “local first” can devolve into close mindedness and groupthink if it is not accompanied by imported knowledge, global connectivity and inclusive collaboration.

Thanks to the efficiency of our connected era, increased proficiency is just a click away. Regularly inviting outside perspectives into local conversation normalizes fresh feedback and bolsters intellectual awareness. The sense of abundance paired with this shared experience adds confidence within a community. This emerging confidence can illuminate purpose and attract more of what an ecosystem needs, by leaning into what it already has. Over time, this adds cultural elasticity and opens fresh conduits for collaboration.

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Be quick to invite outsiders into the insider’s conversation.

As a local entrepreneurial ecosystem invites more outside perspectives, it also manifests itself to visitors from all over the world. This can grow the community, diversify the ecosystem, and boost the local economy.

These intellectual branches and societal bridges also give more people a chance to export knowledge as they interact beyond the local environment. This extension broadens our range of understanding and overall potential.

Can we stay committed to those we love and take pride in the place we live, while also reducing the limitations of our own location? I believe the answer is almost always yes. With a positive-sum approach to importing and exporting knowledge, we can lean on each other to all accomplish more with less.

By Ben McDougal, ago

Weekend Sprint

We just wrapped up Startup Weekend Iowa.

This was an online event, so our organizing team compressed what is normally a 54-hour, localized, in-person hackathon… into just 26 hours of people talking, typing, working and connecting together without the barrier of location.

Thanks to our own Wizard of Oz, virtual interactions were seamless and I was set free to creatively facilitate this high stress, no risk experience. It was energizing to have 25 participants and 15 mentors connecting to build two companies that pitched head-to-head for esteemed judges on demo day. This was a statewide event for Iowa, but the international element was in full effect as we also had new friends teleporting in from Canada and India to participate. While most of the event was hosted in a private platform that we called “the venue”, here’s a YouTube link to “the stage” where our keynote kickoffs and demo day were live streamed.

These weekly reflections, which I’ve been calling Roasted Reflections, are purposely timeless, but I share this brief event recap because it reminds me how easy it is to build when only a few people decide to work together. Yes, in-person gatherings create more random, serendipitous interactions, but I continue to marvel at how new interactions can be so efficiently ignited through these online interactions.

This was actually my first Startup Weekend experience! In the past, I convinced myself that my career portfolio was too full to build yet another new company. The infrequency of a local event and the anticipated time required were also factors in my past decisions, but now I realize, this combination of considerations led to a misguided assumption.

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You hear this tweetable thought often, but smart people change their minds all the time.

Startup Weekend can be a place where participants come together to build a business idea into reality, but it can also be a wonderful chance to catch up with friends, learn a new trick, mentor people exploring their own entrepreneurial spirit and/or simply observe some magic in action.

As one of the organizers and lead facilitators, I enjoyed a front row seat that allowed me to commentate the weekend while helping two teams build ideas into reality.

The energy of this weekend sprint was remarkable, but I noticed something as we all sat back and virtually celebrated demo day over a few brews during afties. It felt like the last day of summer camp. Everyone had been working alongside each other and while closing things down felt bittersweet, you could tell everyone appreciated the opportunity. This group had done something they were proud of and there seemed to be an unspoken premonition that Startup Weekend was not the last time these starters, makers, doers, and dreamers would come together to collaborate.

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Building alone is easy. Find friends to make it fun.

By Ben McDougal, ago

Entrepreneurial Ecosystems

Social architects around the globe have worked to establish frameworks that can be applied to support long-term, generous, and community-driven collaboration. They have done this alongside government, educational institutions, entrepreneurial support organizations, and economic development groups. Along with societal constructs to guide economic development rooted in entrepreneurship, innovative community builders have stabilized our ability to communicate by adopting a common language that makes universal collaboration possible.

To communicate how a community collaborates to support entrepreneurship, the term “entrepreneurial ecosystem” was coined to describe the people, organizations, resources, conditions, and, most important, the complex interactions between everything in a business environment. The scale of an entrepreneurial ecosystem can be local, statewide, regional, national, or worldwide, but the primary focus must remain: the success of entrepreneurs.

Like an ecological system found in nature, each part of an entrepreneurial ecosystem plays into the continuum of economic development. As a conglomeration of interdependent parts, changing one aspect can affect other features. With so many moving parts, complexity science helps us understand and communicate how entrepreneurial ecosystems work.

In their 2020 best-selling book The Startup Community Way: Evolving an Entrepreneurial Ecosystem, Brad Feld and Ian Hathaway use complex adaptive systems to explore how a systematic, holistic, inclusive, positive-sum, and long-term mindset unlocks entrepreneurial ecosystems to thrive as one. There are many other thought leaders (e.g. Johannes Pennings, Daniel Isenberg, Victor Hwang, Greg Horowitt, Lolita Taub, Dell Gines, Steve Case, Naval Ravikant, Wendy Guillies, Philip Gaskin, Andy Stoll, Cecilia Wessinger, Arlan Hamilton, Yancey Strickler, Marc Nager, Scott Resnick, Laís de Oliveira, Seth Godin, etc.) and exceptional organizations (e.g. Kauffman Foundation, Techstars, Revolution, Center for American Entrepreneurship, Forward Cities, Right To Start, Global Entrepreneurship Network, etc.) that continue to guide this collaborative approach to economic development. In short, when you win, we win. The sooner a community comes together to support what works while leaving outdated ideas behind, the sooner it can flourish.

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Have you seen Brad Feld’s remarkable contribution inside You Don’t Need This Book? Brad inspires us all to think big and it was an honor having him riff on such an important topic within my new book!

As you’ll read more about in YDNTB, a genuine commitment to inclusivity is where the magic happens within an entrepreneurial ecosystem. Complex systems rely and thrive on diversity. Identity diversity (e.g., gender, race, and sexual orientation) paired with cognitive diversity (e.g., experience, background, and perspective) invites everyone to participate. Along with radical inclusivity, equitable policies provide an environment where entrepreneurial traction is easier to find. As expanding connectivity diversifies, the ecosystem matures and long-term growth becomes more sustainable. When members of the community are successful, they are free to give back and this cycle continues to fuel positive change.

With enough people who care, healthy ecosystems can exist anywhere. No matter the environment, thriving ecosystems trust that a rising tide will raise all ships, allowing entrepreneurs and the people who support them to prosper. Such an inclusive and collaborative approach sets a tone for the broader business environment, strengthening economic development and our society overall.

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Wanna geek out on this together? Perhaps your ecosystem is thirsty for a fresh perspective? Let’s pour some virtual coffee and explore innovative ways to collaborate!

By Ben McDougal, ago

Career Nirvana

Career nirvana is achieved when your community, work, and personal life are in harmony. This state of mind comes from happiness, health, and wealth emanating from the freedom to do whatever you’re best at with people you care about.

There is little holding you back from achieving such splendor. Start by doing remarkable work you enjoy. This creativity earns attention and delivers intellectual, human, financial, network, cultural, physical, and institutional capital. As we learn from The Startup Community Way, the Seven Capitals keep you building by using what you have, to attract what you want.

Let passion fuel persistence, then fuse your career portfolio into the entrepreneurial ecosystem. As you connect into community, be generous by accelerating others and use the trust that creates to do it more often. When this becomes routine, your generosity will leave a legacy. For innovators looking to change the world, such a legacy grants enduring satisfaction and furthers the sense of euphoria.

As a fulfilling career is composed, it’s easier to find work-life balance. Remember, we work to live. We don’t live to work. Nobody looks back wishing they had spent more time in the office. Use the freedom you create to embrace those you love while doing more things that make you happy.

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“The peace and satisfaction of building what you truly care about is one of life’s greatest gifts.”  –You Don’t Need This Book

This may sound idealistic, but it’s not all rainbows and unicorns. This approach to work requires creativity, immeasurable time, immense ambition, and advanced efficiency. As discussed in the Side Hustles chapter of YDNTB, an acute awareness of your personal bandwidth is essential to optimizing when and how resources are utilized. It can also be tempting to spend too much time on things that are fun but may not have real potential. Be humble enough to recognize what you have and what it will take to evolve your idea(s) into reality. Managing multiple “hobbies that pay” takes serious effort, but the reward is extraordinary work you love talking about and an inner peace that provides transformative happiness.

If you achieve career nirvana, be thankful, but recognize that things will always change. What you have today may not be the same tomorrow. Keep building to enjoy the moment, then make it last with generosity that recycles a sense of abundance for others along the way.

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Cheers to everyone who made last week’s book launch a huge success! Signed softcovers were shipped nationwide and more orders continue to pour in. As you dig into YDNTB, I’d love to see photos, hear what resonates and explore fresh ways to accelerate your work.

By Ben McDougal, ago