Innovation

Bloop

Imagine yourself as a circle.

It’s tempting to suggest a sphere, but the added dimension is not necessary for this metaphor. Alright, with your circular self, take a tiny portion of the arc and “bloop”… push it beyond the circle’s circumference. Even the smallest nudge gives the entire circle space to expand.

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I had fun making all sorts of sounds as I considered the title for this reflection, but I’d love to hear how you’d describe the sound of such an expansion. Also, since I had to look up the terms to ensure this metaphor was translated correctly, here are the parts of a circle.

There’s plenty of research behind the idea of small improvements adding up. As we hear from inspired speakers and read about in Atomic Habits by James Clear, if you get one percent better each day, you’ll end up thirty-seven times better by the end of a year. It’s hard to define “better” and such steady progress would surely require sacrifice, but most will agree that small choices don’t make much of a difference, until they add up.

While establishing systems that support good habits and compiled improvements are great, this reflection is more about welcoming singular moments of exploration and growth, even when it seems unrelated, weird, or insignificant.

Perhaps it’s trying something new without preconceptions, saying yes when no is status quo, or being the initiator when movement is seen as risk? As we poke the box and invite a bit more bloop in our life, we give ourselves an opportunity to grow as our own circles expand.

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To thank those who have enjoyed brewing on these Roasted Reflections every week for almost two years AND to say hello to some new friends, here’s a free gift just for fun!

By Ben McDougal, ago

Venture Studios

Venture studios work with different startups to activate a portfolio of ideas into reality.

They invest financial capital, then use a long-term lens to enhance the chance for traction by pouring resources into each startup they invest in. A compounding collection of services are provided within these funds and full access helps everyone building together, often in sprints.

The compressed nature of the building process makes venture studios somewhat comparable to accelerators, yet with an extended, almost open-ended timeline. This emerging model can also be used as a form of due diligence for venture capital funds. While there’s still a lack of standardization and wonky economics have some investors questioning the long-term mechanics of such an approach to investing in startups, it’s no surprise that the innovation economy continues to drive fresh approaches to raising financial capital through the art of supporting entrepreneurs.

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This caffeinated contribution was written by Miles Dotson. I met Miles through mentor madness with Techstars. We bonded over our shared interested in this emerging approach to supporting entrepreneurship. Miles co-founded Devland, which is an investment company that focuses on new innovative ventures with brilliant technologists and wildly underestimated entrepreneurs. Devland provides an alternative mix of investment pathways for committed entrepreneurs with program guidance and direct funding through Series A.

The builders venture studios can attract, do not always have familiarity with venture capital and the language of finance. Whether you call them venture studios or startup studios, the word “studio” gives them the sense that there is a seat for them, regardless if they have a passion for a new idea or if they have formed initial traction. Terms, timelines, and investment theses vary between venture studios, as they should, knowing each company and fund provide different strategic values. After years of experimentation, our team is currently using the venture studio approach to conduct due diligence over an average of 14 months, working alongside builders, getting in the trenches with them, and advocating for their growth. This provides a much better gauge of the entrepreneur as a corporate builder, leader, and team builder — further validating our cause to invest and market them to firms upstream from us.

To bring this short intro to venture studios together, we can think about this as a validation-led approach to venture capital. The intention is to discover outsized returns from potentials who do not generally have network into the world of capital, relationships, and resources needed to build a market leading business. We are operators, product leaders, and venture capital thinkers who understand the role startup creation plays in the market. Our goal is to illuminate repeatable paths that often result in early acquisitions, stable long-term growth, or public market entry while improving the average cost required to create that outcome.

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This has been a fun little series, brewed around a few interesting actors within entrepreneurial ecosystems. There are many more key actors, factors, and instigators throughout any startup community, but we hope you’ve enjoyed this sip of awareness around Accelerators + Incubators + Coworking + Venture Studios. As always, subscribe to Roasted Reflections and stay tuned for what’s being poured next week!

By Ben McDougal, ago

Ideaworks

Our daily lives gobble up mental bandwidth. If you’re interested in building a business, compelling ideas may hit but lasting intention is needed to build momentum.

It’s unlikely that lightning will strike in a single brainstorm. Instead, combine detail-oriented initiative with pure wonder and open-mindedness to attract earned luck, thanks to serendipity. As ideas fueled by action create chemistry over time, different combinations will map more opportunities.

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We get what we repeat.

How might combining ideas be like a colorful fireworks show? Let’s begin with the anticipation a crowd feels before the show. Then a bright light flashes, and the sound of that first colorful explosion is celebrated.

To get color popping in the night sky, a fuse was required to spark early progress. Fuses such as linking slowness with urgency, actively listening, allowing new experiences to shift your perspective, and always staying curious give the idea machine more ways to continuously flip the switch.

As each fuse is lit, we hear that thump of a distant firework being shot into the sky. This sound of propulsion is like ideas darting into the limitless atmosphere of our mind.

With each idea sparked, there’s a thrilling hope that what’s about to pop is exactly what we’ve always wanted. Even if it’s not an absolute showstopper, each ideawork sparkles with different colors, shapes, and sounds that inspire the sky and connect into the broader experience.

Looking up into the stars, we appreciate each blast in different ways, based on the vantage point. This awakens the fact that every idea has value. Bad ideas lead to better ideas. This can spark great ideas that reverberate, and when given the space to merge, combine into a fantastic reality.

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Don’t wait for next year.

As ideas pop to create a tune, it’s like the grand finale a crowd waits for. The audience may scurry in different directions after the show, but they’ll keep talking about the experience long after that floating smoke clears.

When songs rhyme with a melody, the idea machine sparkles. When execution is a habit, even duds can’t stop a remarkable show from lighting up the sky.

By Ben McDougal, ago

Playforce

Work and play are often seen as distinct and different, but the expectation of top talent has evolved. People crave a connection to enjoyable activities that deliver a sense of purpose and belonging. When work feels like play, the fun environment invites people to take on bigger challenges. To support the future of work, students, educational organizations, employees, and employers must adapt together.

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Welcome to your first taste of a new community-driven initiative that will feature special guests sharing occasional contributions. Interested in collaborating? Let’s chat!

When we think about work that feels like play, it’s not just pinball all day. The definition of “fun” is to spend time doing an enjoyable activity. When a team has fun with satisfying work that matters, the group’s true potential is unlocked and individuals are more likely to become indispensable. This leads to more generosity, laughter, caring, scientific questions, learning, gift-giving, and mapmakers eager to go beyond what’s expected.

A recent study identified 16 trends that are shaping the future of work. It found that, in addition to more flexibility and fair wages, employees want greater autonomy. Employees want the freedom to be creative and to find purpose in the way they spend their time. When this balance is achieved, people are happy and the sense of satisfaction allows them to do their best work. Along with more innovative productivity, this culture also leads to lasting retention.

As today’s workforce is transformed into tomorrow’s playforce, it’s important to consider the difference between work that feels like play, compared to work with playgrounds nearby. When fun activities only serve as a distraction, the facade of fun will wear off. It’s also good to remember that what’s fun for one person could be more of a chore for others. Personality assessments and ongoing interactivity will help you understand individuals and the part they play within the system. The better people know each other, the more inclined they’ll be to act themselves. Acting professionally shouldn’t mean dimming one’s personality. The more comfortable people feel at work, the better they’ll be able to focus on what’s important. Too often, attempts to optimize employees’ work-life balance stem from a flawed assumption that we must create boundaries to differentiate life and our work. Perhaps the opportunity and the future of work, is to create an experience where the two coexist as one?

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This caffeinated contribution was written by Elizabeth Tweedale. Elizabeth has (co)authored six books, exited an AI company called GoSpace, and is now the CEO of Cypher Coders, the UK’s leading coding school for children. She’s passionate about family, preparing kids for the future, and can be found in our Roasted Reflections group.

If the future of work is fun, we must guide children away from an outdated “workforce” and toward a “playforce” to activate creativity, productivity, satisfaction, involvement, and purpose. The world is their playground and no permission is needed to contribute. Education can be about delivering access to skills, tools, and community. When children are encouraged to connect, play games, be kind, and learn with passion, they engage not because they have to, but because they’re having fun. This empowers students and as they reach the playforce, they’ll understand the superpowers they’ve nurtured in their own areas of interest. Beyond the classroom, this translates into employees and employers who are more likely to enjoy their work when given the opportunity to do what they’re best at.

As we see/hear in the closing chapter of YDNTB, “life is too short not to enjoy your work.” Together, let’s change the equation to make work a lifestyle, which sets us free to have fun making a difference.

By Ben McDougal, ago

Stealth Mode

We’re all guilty of thinking our idea is better than it is.

Stealth mode is when entrepreneurs wait to start telling their story. Staying quiet about a new project often starts with good intentions. Curiosity and a bit of mystery can generate hype, especially if you’ve been successful in the past. Too often however, people hold onto silence because they fear feedback or that what they’re building may not work in the wild.

To avoid failure, the choice to continue building in stealth mode keeps everything safely in the workshop. This may be wise if the project needs work or when the competition are known pirates, but there are few ideas that require much secrecy. With 8 billion humans on earth, your idea is probably not unique and when it comes to shipping your art, it all comes down to execution. Survey the market and research existing patents to help guide decision making, but stealth mode will soon lag toward being an excuse to procrastinate. Even if you have something big, it can be deflated without the open air of honest feedback. Stealth mode may sound nice, but silence, pride, and fear can devolve into a suffocating sinkhole.

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Winners are good at losing.

If you decide to build in stealth mode, give yourself firm timelines. Determine if intellectual property needs legal protection. If you need to keep certain aspects of the project under wraps, do so while still allowing the idea to breathe. Stealth mode only works when it results in a stronger story. It’s hard to know how strong your story is unless you share it.

Yes, we can only be new once, but the leverage of a startup is an ability to quickly evolve. As your team connects with the true market through strategic, creative, and generous execution, humility paired with persistence will pay off in the form of confidence. Even if something fails, it’ll be more like a pit stop on your path toward product-market fit. Be a scientist. Experiment thoughtfully, iterate often, and invite doubt knowing that if you’re wrong, it can activate a signal that guides the project toward a more sustainable future.

Be careful with the comfort of stealth mode. Those who build in too much silence can go quiet themselves.

By Ben McDougal, ago