Show notes
Show Notes: Chris Heivly and Will Bachman discuss the concept of startup communities and the importance of building them. Chris is the co-founder of MapQuest, which was sold to AOL for $1.2 billion, and the author of the Build the Fort. His second book, The Startup Community Builder's Field Guide, focuses on how five simple lessons learned as a 10-year-old can set entrepreneurs up for startup success. Chris defines a startup community as a set of people involved in innovative activities in a particular geography. He explains that startup communities can be incredibly powerful in helping entrepreneurs to succeed and should be proactively built by providing resources, mentorship, and capital. The Benefits of a Startup Community Chris talks about the concept of startup communities and how they are no longer geographically bound. He believes that networks are essential in order to develop a successful startup community, and that all members of the community, such as corporate innovators, investors, founders, researchers, and university students, should work together for the greater good. Additionally, he mentions that the concept of startup communities applies to industry-specific communities as well, and not just geographically bound ones. He believes that the key to advancing technology is through startups and corporate innovation, and that these networks should be utilized to the fullest extent. Chris points out that it is important to rely on people outside of one's geographic network to build a successful community. He explains that it can be difficult for founders to invest time and energy into the community due to the amount of tasks they have to complete in their business. He mentions that it is important to build meaningful connections in order to make a successful community and connect with venture capitalists, local investors, and to get involved in the local economy to make sure that it is thriving, and that one will gain knowledge and potential customers by doing so. Chris suggests startup lawyers, marketing experts, economic development professionals, and people from universities want to ensure the success of startups and help create a vibrant local economy, and he shares a case study on a startup community he was involved with. The Advantages of a Local Tech Scene Chris talks about the advantages of being in a local tech scene, rather than working in a virtual space. He adds that the local physical advantage is that one can easily access mentorship and advice in a formal sense. He notes that this may come in the form of attending events, or engaging with other startups in the same building. He also points out that networking with local resources can be beneficial for finding answers to questions, and finding the right attorney for legal needs. He explains the importance of providing resources, such as programming and co-working spaces, to help new entrepreneurs get their businesses off the ground. Chris emphasizes the value of what they call gear, or ad hoc advice and mentorship, as an invaluable resource. These resources can be found through serendipitous sparks, such as running into people at coffee shops or events. Chris suggests that the best way to create events and activities that will engage the community is to listen to what the people want and find a leader who is motivated to make a change. He encourages grassroots-style initiatives that come from the bottom up, and to move forward with the goal of helping or supporting others. The Three A's that Help Build Local Community To help the local community, Chris suggests that it can be done in various ways, such as running a Little League team or getting involved in the arts. He recommends getting involved in the entrepreneur community and how it can have a great economic impact. Chris talks about the three A's framework in his book which stands for actors, activities, and attitudes. This framework is designed to make the ecosystem more inclusive and inviting for everyone to play a role. Actors can range from economic developers, government bureaucrats, university people, corporate members, founders, investors, and more. Activities vary depending on the maturity of the ecosystem. Attitudes are the most forgotten part of the framework and are important in creating a collaborative, supportive, and inclusive mindset. Chris encourages everyone to adopt a better attitude and behavior in order to create a better ecosystem. He offers a few steps to drive this forward. To build an active network that you can lean on, Chris suggests introducing two people from your network who don't know each other, and having a 'gift first mentality' by reaching out to others without expecting something in return. He shares a story from 2009 to 2010, where he ran around doing 275 connections in five months, and at the end asked a simple question: What can I do for you?. He encourages people to ask what keeps them up at night, and what their challenges are, so that they can be helped. Building a Network of Trust Chris believes that by helping others without expecting anything in return, a strong network of trust and support is created that can benefit everyone. He has met with over 4000 people in the Raleigh-Durham area to build these relationships. He encourages young people to do the same to get more done faster. In return, these contacts are more likely to help him with projects such as writing a book or speaking at events. Chris believes that by investing time and effort into forming meaningful relationships, success can be achieved more quickly. Chris has encountered thousands of people over the past 15 years and has created a system of pre-investing with each of them individually. He explains that he has an open office hours system where anyone can sign up for a 20 minute meeting. He also explains that, although he doesn't have a strong connection with all 4000 people, he can activate them whenever he needs to. His purpose is to support and empower founders to create successful businesses and cities. He hopes to accomplish this through his meetings and connections. Chris shares a few success stories from the people he has met and connections he has made, and the path he took after the success of his startup MapQuest. Timestamps 01:49 Building a Startup Community 03:47 Conversation on Building a Startup Community 06:48 Exploring the Benefits of Joining a Local Startup Community 13:58 The Advantages of Being Local in a Start-up Scene 16:52 Building a Startup Community in Raleigh, NC 25:14 The Four Stages of Ecosystem Maturity 29:33 Exploring the Benefits of a "Gift First" Mentality in Building Community Connections 36:33 Connecting People for Mutual Benefit 43:06 Career Development and Corporate Venture Funds 45:20 Writing the Build a Fort Series Links: Website: http://heivly.com/ The Book: Build the Fort CONTACT INFO: Twitter: @chrisheivly Email: [email protected] Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.