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]]>Demand Spurs Downtown Coworking Expansion
Downtown Works was featured in the San Diego Business Journal about our recent 40% expansion at our Little Italy location. Read about demand for coworking in San Diego rising and how we’re meeting that need with more one and two-person furnished offices.
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]]>The post 8 Tips To Help You Organize Successful Business Events appeared first on Downtown Works.
]]>8 Tips To Help You Organize Successful Business Events
Photo by Priscilla Du Preez on Unsplash
As a startup business owner, boosting brand recognition can be a struggle at the beginning. You may have the best product or service in the market but unless your target market is aware of your existence, then you can’t expect massive sales. And now with COVID restrictions waning, it’s a good time to look to events as part of your marketing mix.
Event marketing is one of the most effective ways to promote your business to a wider audience. Some good examples of events you can host include product launches, free workshops, and others.
To organize a successful event, you will need to plan everything with great care. In this blog, we’ll give you a few practical pointers that will make it possible for you to have a trouble-free business event.
Read on and learn what you can do to make any event a memorable one…
1) Begin with a goal
Before going any further, it’s important to start with your goal and purpose. Some worthwhile objectives include promoting a new product, increasing your sales, or boosting your brand awareness.
Determining what activities to do, who to invite, and when to do the event will come much easier after you’ve decided what exactly it is you want to achieve.
2) Plan the details
Once the goal is already in place, it’s time to start working on all the finer details. What date would be most appropriate for the event? How many hours will it run? What activities would help you accomplish your goal? Would you need to invite speakers and other talent? How much are you willing to spend on the event? Do you have sponsors who are willing to help you cover the expenses?
Ask for your team members’ suggestions and you’ll see filling in all these factors shouldn’t be too difficult. Event preparations will also be hassle-free if you create committees and delegate different tasks to each member. Check with them frequently to see if they’ve fulfilled their responsibilities or need any help.
3) Determine the event format
Another crucial consideration to keep in mind is the event’s format. These days, events can be hosted in-person, via virtual, or maybe a combination of both.
If you’re taking the real-world route, you will need to select an event venue that can accommodate your crowd. An online event may be more realistic if you’re targeting broader, more international markets. On the other hand, a hybrid event allows you to target both in-person and virtual audiences.
4) Tell people about the event
Create an event poster and start spreading the word on your social media channels. This could be an excellent way to attract some attention online. You can even go the extra mile by advertising on social networking services or working with relevant influencers to reach more people.
5) Schedule a dry run
Having an event dry run gives you the chance to visualize everything before the big day. If you’re holding an in-person event, check out the venue in advance and decide which areas will be used for which activities. Make sure that all the equipment, such as the audio-visual systems, are ready and working.
The same thing can be said when you’re hosting a virtual or hybrid event. Test the software, hardware, and the internet connection you will use ahead of time to prevent technical difficulties during the event.
6) Hire additional support, if needed
A face-to-face event may require additional help so feel free to hire people who can handle the tasks. For example, you may want to assign some as the event security team while others may handle attendee registration at the location.
7) Be ready with your backup plan
Last-minute inconveniences can occur. Your resource person may have to attend to an emergency. Unexpected rain may mess up your outdoor event.
As the organizer, you will want to anticipate such inconveniences. You have to prepare a backup plan in case things do not go as expected.
8) Don’t forget to follow up
The follow up is possibly as important as the event itself. Soon after the event, send out email messages to the attendees. Thank them for their time and ask them for feedback. With their permission, you can later share some of the positive reviews on your social media pages.
As American aphorist Mason Cooley once said, “An event is not over until everyone is tired of talking about it.”
Final Thoughts
When done right, conducting events can definitely be a great way to market your product or service. You can improve your brand reputation and even increase your sales as you engage with your target market.
Good luck on your upcoming business events!
Mark Rosario
Mark Rosario has been working as a professional writer since 2007. He currently blogs for TheFarmSoHo, a leading coworking and events venue in New York City..
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]]>The post The Pacific Beach Lifestyle – 7 Reasons Why PB is a Great Place to Live and Work appeared first on Downtown Works.
]]>The Pacific Beach Lifestyle – 7 Reasons Why PB is a Great Place to Live and Work
Sunset in Pacific Beach, Calif. Source: KC Welch, Unsplash
For some people, California coastal living is just about having easy access to surf and sand. But for those who live and work in Pacific Beach, they know it’s all about the fun & friendly lifestyle that makes this laidback beach community so much more. That’s why we selected PB for our newest Downtown Works coworking location. Here is a list of reasons to love this incredible beach community as much as we do.
7 Reasons to Embrace the Laidback PB Lifestyle
1) PB’s stress-free vibe is strong and distinctive.
Once you make your way west of I-5 at Garnet Avenue or cross over the Ingraham Street Bridge, the sense of community is powerful. More than 1,500 small businesses support local residents and cater to the tourists who visit from all over the world. Established in the 1880s, the community grew exponentially after WWII. You’ll still find smatterings of small beach bungalows on streets named after precious stones. PB’s iconic Crystal Pier opened in 1924 and it’s a great place to go fishing, watch a sunset and feel your stress just melt away.
2) It’s a mecca for those who love being active and outdoors.
Along with word-class beaches where fun-in-the-sun never ends, PB has miles of cycling, jogging, and rollerblading trails including the ever-popular Ocean Front Walk/Ocean Boulevard Boardwalk. You’ll find yourself competing with tourists especially on weekends, but it’s all part of the beach scene that makes up the unique sights and sounds of PB. Of course, surfing and the surf culture is always at the top of the list for what makes PB special. Tourmaline Surfing Park on the north end of PB is an ideal spot to catch some waves before you head to work. You’ll also find it’s a great place for windsurfing and kiteboarding and in the winter months, tide pooling along the shore.
If walking trails and birdwatching are more your thing, Rose Creek is a well-kept secret in PB. It’s a quiet and beautiful natural area that features wetlands and wide-open spaces that nature lovers adore. Rose Creek runs north and south and can be accessed off of Magnolia just south of Grand Avenue. There’s also a variety of community parks and busy playgrounds like the one at Fanuel Street Park to enjoy with your family and friends. A little further inland is Kate Sessions Park up on Soledad Drive that offers breathtaking views overlooking the bay.
3) It’s a dog-lovers paradise.
You’ll find most restaurants, coffee shops, and businesses like Downtown Works are extremely pet friendly. Some even offer separate menus for your furry friends. For real socializing and exercising off leash, locals love Capehart Dog Park in the heart of PB.
4) Health and wellness are the norm in PB.
Eating clean goes hand-in-hand with the physically fit, active and organic lifestyle here. Locals regularly support the Tuesday Farmers’ Market on Bayard Street between Garnet and Grand Avenues where they can purchase a wide variety of locally grown fruits and vegetables along with meats, cheeses and all kinds of prepared items. They also enjoy local eateries that offer a farm-to-table experience like Our Green Affair at 980 Garnet, one of Downtown Works’ favorites. Our Green Affair offers easy, affordable and authentically prepared fresh salads, bowls, soups, loaded potatoes and even desserts! It’s easy to stay in bathing suit shape all year long with the variety of fitness/health clubs, gyms and the Pacific Beach Recreation Center available for various classes and healthy activities.
5) PB Coffee Houses are some of the very best in San Diego.
And it’s not just about the excellent coffee they serve. Places like Ocean Café at 4426 Ingraham Street in the heart of PB are another one of Downtown Works’ favorites. Known as a juice, smoothie, and coffee destination, Ocean Café also offers an extended menu that customers keep coming back for more. They use an authentic Brazilian recipe for their truly fantastic Acai Bowls that are often paired with a variety of organic coffees, cappuccinos, or its famous Milky Way Mocha. Overall, people just love their organic menu, strong coffee, and relaxing, laidback environment. Another local coffeehouse favorite is Palmy’s at 976 Felspar St. The owners have refreshed a well-known, beautiful craftsman bungalow with a welcoming front porch and added great coffee and food served with a splash of Australian personality. Their big breakfast burrito is one of the very best in town, especially when you order an organic coffee or an espresso to go with it. The garden offers a shady respite where you and (you guessed it) your dog can relax as you enjoy your food and drink.
6) It’s home to some of the hottest nightlife in San Diego.
PB boasts a wide variety of bars and restaurants but the top of the list for destinations belongs to Maverick’s Beach Club at 860 Garnet Avenue. With more than 15K sf, it features six bars, 43 TVs, amazing ocean views and a variety of indoor/outdoor spaces to just chill. It’s also very dog friendly. Whether you stay for the sunset or dance the night away, it’s definitely the place to be and to be seen. Another really cool and popular bar is The Grass Skirt at 910 Grand Avenue. It’s actually a speakeasy where you enter from behind the counter of a small, Poke café storefront. Once inside, you’re transported to a tropical, Tahitian-inspired bar and restaurant that offers live music, indoor/outdoor seating, great food and a wide variety of exotic drinks. Locals know to always make reservations in advance.
7) PB Knows How to Have Fun All Year Long.
That’s right! From the Christmas Boat Parade in December, Independence Day in July to the annual Pacific Beachfest every October that features live music, craft beer, a kid’s zone, volleyball tournament and other beach sports, there’s always something fun to do in this tight-knit community. Let’s not forget that Halloween is considered a major holiday in PB with costume contests and a variety of parties. Celebrating is just part of the scene in PB that’s punctuated by the fantastic fireworks show seen nightly from nearby Sea World. How great is that? It’s just another reason why Pacific Beach is a one of the best places to live and work in Southern California!
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]]>The post Back to the Future of Entrepreneurship – Valuing your Time Currency appeared first on Downtown Works.
]]>How valuable is your time? Have you associated a cost with time, whether monetary or not? In my experience, time is one of the few currencies an early-stage entrepreneur has in his or her wallet to spend. Workdays are filled with brainstorming sessions, networking events, and all the things that make entrepreneur life and the hustle exciting and new. You push yourself to the limits with a “get it done” attitude, basically putting in your time (no pun intended) and making your rookie mistakes along the way. Of these missteps, I believe not valuing your time as money could cost you in the end.
I think back to one of the greatest movies of all time, Back to the Future! How cool it would be to be like Marty McFly traveling back in time with Doc Brown changing the past and seeing into the future. What if this was a reality for you? You’re telling me that there is a time machine that can transport me back to when I started this entrepreneurship thing? Great Scott! I would give anything to travel back and correct all the mistakes I made along the way.
Before scheduling that next meeting or attending that next happy hour, you may want to rethink your time strategy and review the following suggestions in favor of placing a higher value on your time currency.
Netflix and Chill – Think Again
I am not talking about coffee when I tell you that entrepreneur life is a grind! I don’t care what anyone says, there will never be enough hours in the day, days in the week, or weeks in the month to get everything done on your plate. Working two jobs to make ends meet, being so tired that you fall asleep at your desk – unless you are just the privileged among us, you must believe in yourself and your idea at all costs. Part of valuing your time is really trying to understand where the time goes!
Honestly, I have spent hours channel surfing and streaming Netflix, only to say that I have no time for my business the next day. Shame on me! Then, to make matters worse, I end up worrying about not having my work done. Crazy huh? I love the quote “worry is a total waste of time. It doesn’t change anything. All it does is steal your joy and keeps you very busy doing nothing.” I don’t know about you, but I have felt stressed out and super busy getting nothing done. What’s up with that?
I think Gary V, love him or hate him, makes a great point about entrepreneurship and time management when he said “you have made a decision that does not allow you any time, in your first year, to do anything but build your business. No more binge-watching Game of Thrones, slacker.”
Failure – Opportunity for Success the Next Time
If my calculations are correct, the next time I fail you’re gonna see some serious opportunity! Wow…wouldn’t it be sweet when you eventually run into a bump in the road to have this kind of optimism? The time cost associated with failure, if you’re not careful, can be exacerbated if you forget to factor in the opportunity costs as well.
A recent article in INC.com got me thinking about time as money in my own business. It argued that “the key to finding the value of your time lies in finding the difference between what you gained from failure and what you would have gained had you succeeded. For example, suppose a thirty-minute sales pitch wins over potential clients and your business earns $1,000. Whenever your sales pitch is rejected, you have lost more than just thirty minutes of your time. You’ve also lost the opportunity to earn that extra $1,000.” Boom, mind blown!
I don’t say this to stress you out, merely to illustrate the point that your time is more valuable than you might think. Try looking at your time from a new perspective, what are you chicken? For years, with each one of my failures, I kept on doing the same thing I had always done and expecting a different result. INSANITY! Well…entrepreneur life can be bizarre – many times a little crazy…but I digress.
Looking Back to the Future – Time as Money
Unfortunately, no time machine exists yet that affords us the means to travel back in time. Our time on this earth is limited – the here and now is all we have – this moment is our past, our present, and our future. Spending your time currency wisely is just one way to keep moving your business forward. Thank you for taking the time to read this blog post. I hope you found value in it. Your future hasn’t been written yet. No one’s has. Your future is whatever you make it. So, make it a good one.
It’s common knowledge that Mr. Benjamin Franklin coined the phrase, “Time is Money.” I end this blog with some food for thought from one of our greatest Founding Fathers.
“Remember that time is money. He that can earn ten shillings a day by his labor, and goes abroad, or sits idle one half of that day, though he spends but sixpence during his diversion or idleness, it ought not to be reckoned the only expense; he hath really spent or thrown away five shillings besides.”
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]]>The post Entrepreneur 101s – Stakeholder Capitalism – Transforming Business for Good appeared first on Downtown Works.
]]>Please indulge me for a moment. Stop multi-tasking, take a deep breath and deep dive for a few minutes in search of your “why.” Remember when you first dared to start your entrepreneurial journey? Behind all your doubts, fears, and worries was probably a deep-seated purpose or core belief driving your actions, yes? Do you have it? Good. Now ask yourself, what is the purpose of “business” in general? Does the concept of “doing business” look the same now as it did 50 years ago? Is American Capitalism, as a system of trade and industry by owners for the purpose of profit, sustainable long term?
Ok, enough with all the questions. I ask these pointed questions to open your neural pathways to receive new information – a new perspective. This January, I was fortunate enough to participate in a month-long Startup Bootcamp focused on helping socially conscious entrepreneurs build sustainable businesses. Created and executed by the Torrey Project, a global non-profit dedicated to transforming business for good, I was connected with other socially conscious leaders and introduced to the concept of stakeholder capitalism.
So how are stakeholder capitalism and the ideology of purpose over profits changing the business landscape…let’s start with a simple explanation and definition…
What is Stakeholder Capitalism?
According to Stakeholder Theory, this form of capitalism is hyper-focused on the relationship between a business and ALL of its stakeholders. Stakeholder capitalism is about creating value for not only your shareholders but employees, suppliers, investors, communities – everyone who could potentially be impacted by your business. Now, I know some of what I just said seems like a total 180 from the traditional business enterprise and wall street model. Well…it is!
In 1984, R. Edward Freeman, said to be the Father and Founder of Stakeholder Capitalism started a conversation about bringing morality and personal values into the workplace and aligning them with business purpose. Even today, this is a highly controversial position, with disagreements on both sides of the argument. In my opinion, business is evolving to catch up with the global workforce trend of discovering a purpose behind profits. Although a healthy salary is important, I believe it’s only a small piece of a much larger pie that motivates employees and drives positive change in the global economy.
Values-Based Decision Making
Think about the impact your business has on ALL stakeholders, not just your shareholders or people profiting from your product or service. I have personally done a lot of soul searching surrounding this question for my business. Although I concluded that it’s impossible to make all my stakeholders happy all the time, I believe I can try every day to consider how my actions will affect everyone involved. That said, it only makes sense that who I am as a person, my beliefs and values should be the driving force behind how I do business.
In my experience, the younger generation of entrepreneurs and startup companies are exploring the idea of aligning their personal values and beliefs into company culture, mission, and vision. I am guessing you started your business with the intent of helping someone or doing something to help serve others in some way? Personal values and beliefs are a powerful motivator and can help you make tough business decisions. Why not make it easy on yourself and bring some of your personal values into decision making for your business? In a way, you can help make business better and transform the way business is done by acting in accordance with your higher morality and core beliefs.
The Benefit Corporation
Current research shows that going into business for the good and benefit of all stakeholders not just shareholders as a long-term approach, has a good probability of future success in the business world. The difference between a benefit corporation and a traditional corporation has to do with fiduciary responsibility. Instead of believing that the only fiduciary responsibility that a company has is to make money for its shareholders, a benefit corporation believes that it has a responsibility to take care of ALL its stakeholders. In my opinion, these companies hold the power to change the world and business for the better. Thinking long term, they look to act in a way that creates a balanced return for all stakeholders, including their local communities and the environment.
A few well-known benefit corporations such as Patagonia and New Belgium have taken it one step further and made a public declaration of their core values and beliefs by becoming Certified B Corporations through B Labs. Certified B Corps must go through a rigorous checks and balances process and make promises and agreements to do good for everyone they serve including employees, shareholders, investors, and the environment. The global discussion continues regarding the long term feasibility of benefit corporations, and if transforming business for the greater good can and will be adopted as the norm.
DOWNTOWN WORKS
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]]>The post Meet Alexa-Rae Navarro – Leading Startup San Diego into the Future appeared first on Downtown Works.
]]>
She feels that developing personal relationships is critical for her to get a sense of the overall impact of the organization. “I want to absorb the organizational culture like a sponge,” she explains. “I want to take on new challenges and old pain points and overcome any existing barriers. Figure out what has worked, what hasn’t worked, and develop solid long-term objectives. I want to discover a path to keep Startup San Diego evolving the local entrepreneur community and helping draw more tech and talent to the area.”
No doubt planning the annual San Diego Startup Week as well as helping fundraise through local events and meetups will keep Navarro moving toward her goals. Her strategy for the work ahead – team building and values alignment – creating a thriving community and helping grow it. “I want to ensure missions are aligned,” says Navarro. “I am here to amplify the efforts of an amazing team, working together to scale our non-profit and take on bigger challenges.”
1. Tell us a little bit about yourself?
My name is Alexa-Rae Navarro and it’s great to be here in San Diego! I am a UCSD Alumni, but spent the last 8 years in Los Angeles, most of my time immersed in supporting the tech and startup ecosystem. I was the Sr. Managing Director of the Bixel Exchange Center for Innovation & Tech at the LA Area Chamber of Commerce. The Bixel Exchange connects talent to opportunity through entrepreneurship and talent development. Through its core programs, the center has provided 600+ predominantly underrepresented entrepreneurs with one-on-one mentorship and helped them to collectively raise $30+ million in investment! San Diego has always felt like home to me and I’ve been waiting for the perfect opportunity to make a positive impact in my own backyard.
2. What is it that makes the San Diego market so attractive to entrepreneurs and young startups?
Well for one, it’s the best place to live, work, and play in SoCal! I think SD Life Changing said it best, “In San Diego, we work for and create cool companies that believe in changing the world. We’re finding cures for diseases, improving communication around the world, brewing America’s finest beer and doing it all while surfing on our lunch break. Life in San Diego is constantly evolving. There’s always a new challenge to solve and a new cold brew to try. Here, “changing the world” isn’t just a pipe dream – it’s reality. You can upgrade your day-to-day while being part of something bigger. That’s Life. Changing. That’s San Diego.”
Of course, things like weather, quality of life, physical space, are all factors in driving entrepreneurs to start companies where they do, but talent–it’s everything. Between all of the local universities (UCSD, USD, SDSU, and Diego & Imperial Counties Community College Association (SDICCCA) and investment that’s coming to the ecosystem to build healthy talent pipelines, the region is going to thrive!
3. What is Startup San Diego and how can local entrepreneurs and startups get involved?
Startup San Diego is a 501c3 non-profit that serves as the front door and gateway to the San Diego startup ecosystem. We are a platform to connect our local tech community to the right ecosystem resources, networks, and support institutions. We envision a thriving and inclusive regional innovation economy. An ecosystem rooted in community, collaboration, and giving back. We envision San Diego as a truly global hub for innovation.
We connect, educate, and inspire founders and local talent to grow San Diego’s startup ecosystem through San Diego Startup Week, Convergence, 1st Mondays, & 3rd Mondays. If you’re interested in engaging with us, I encourage you to come experience one of our events! San Diego Startup Week is a great way to experience the full SD Startup Ecosystem.
4. Since this month’s focus is Productivity and Goals, what methods do you deploy for setting realistic goals for yourself, and how do you stay productive during busy and or stressful times?
Meditation is key. I cannot stress enough the importance of mindfulness and mental fitness training. Meditation helps me to be a more centered and self-aware leader. It brings clarity and enables me to be much more present, productive, effective, and ready to solve whatever the universe decides to throw at me.
My Google calendar base structure – I have a lot on my plate, but I’ve scheduled out my calendar daily — by the minute– with various time blocks to ensure that I keep myself balanced, on-task, and accountable. For example, I schedule a time for things like meditation, childcare drop-off, emails, development lunches, call/meeting blocks, and most importantly uninterrupted focus time.
My entire team is shared on my calendar as well to ensure transparency and awareness of what my day-to-day looks like. Now, am I perfect? Do I always stick to the schedule? No! But it keeps me focused and guides me throughout all the “crazy” of running a non-profit organization.
5. How has being a member of Downtown Works helped you grow professionally?
I am brand new to the community so TBD on personal and professional development! DW has been an integral Startup San Diego Partner for years. Their support has been pivotal in helping facilitate community programming and scaling the organization.
6. What is one piece of advice you would give someone just beginning their startup business?
I’ll give you three. First, know your “why” and be able to clearly articulate it! Second, be ready for a 24-7 hustle. Sometimes entrepreneurship can be lonely, so be sure to find your tribe and network of support. Lastly, know your strengths and areas of growth. Be able to identify what resources and people you need to take your idea or company from 0 -100!
7. Where can readers find out more about Startup San Diego and how to get involved?
LinkedIn or Twitter! The best way to contact me is through the San Diego Startups Slack.
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]]>The post Entrepreneur 101s – KISS your Worries Goodbye – An Argument for Entrepreneur Minimalism appeared first on Downtown Works.
]]>Part of the entrepreneur journey, depending on your business model, is to network your way into the startup community and learn to speak its language. A whole new set of acronyms begin to enter your vocabulary at an alarming rate. Do you have an MVP? What’s your P&L? Since when has an MVP not been the Most Valuable Player!
It takes more than just brilliant business ideas to run a small business. Entrepreneurs must have a plan to navigate through a maze of “stuff” (keeping it PG here) and show up every day ready to face new barriers and business challenges. Sometimes it’s all the “stuff” in my mind that keeps me up at night. What if there was a way to get everything done, and still have time myself yourself? Simple – do less.
Two of my favorite entrepreneurs, Joshua Fields Millburn & Ryan Nicodemus, aka “The Minimalists” operate their business and lives on the concept of less is more. According to European CEO, “An increasing number of business leaders are actively adopting minimalist practices in order to achieve their goals – both professionally and personally.”
There are several definitions of minimalism out there, but I like this one by author and minimalist Joshua Becker who describes minimalism as “the intentional promotion of the things we most value by removing anything that distracts us from it. He is clear to point out that “minimalism is not about reducing the amount of everything. Quite the opposite: it is about reducing distractions to maximize more important pursuits.”
The desire for more “stuff” in our professional lives and the accumulation of “things” is deeply ingrained in our culture today. But what if you could do business with less “stuff” and get rewarded physically, mentally, and financially for your efforts? Would you be interested?
Here are a few thoughts and nuggets of information in support of entrepreneur minimalism…
Keep it Simple Stupid (KISS)
You must first learn how to walk before you start sprinting toward your business goals. Trying to do too much too soon may end up hurting your business long term. As an entrepreneur, I believe that our community places value on the “perception of success.” It’s our responsibility to shape the culture of entrepreneurship in ways that will benefit us both professionally and personally. Adopting the KISS Method, and implementing it tactically into our daily routines, can not only help keep us more organized but provide more time to focus on purpose and why the hell we are doing this in the first place!
The Illusion of Control
Giving up control is not easy. You birthed your business – you know it best and want it to succeed. In my experience, trying to control every detail about your business, suppliers, vendors, partners can quickly become overwhelming. There are so many moving parts to a business that making decisions and staying the course is a challenge. Geez…I don’t even go into large grocery stores anymore because there are too many choices, I end up buying things I don’t need and wasting time walking around aimlessly trying to find what I need. Giving up control and an attitude of “I must do EVERYTHING” can free up some time for new ideas and self-care.
More Money More Problems?
Let me explain. Money and profits flowing into your business is a great thing! It shows that your business model is working, and your stakeholders and customers are buying what you are selling. However, excess capital and cash on the books can be a burden as well. Without distributing surplus funds in an organized and strategic way, simple transactions can become confusing and complicated. Try thinking smaller – only making purchases based on business values, culture, and need. This minimalist strategy will keep you spending less – steering clear of any monetary pitfalls and overspending temptation due to financial success.
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]]>The post Entrepreneur 101s – Reverse Engineering the Startup – Focusing on Founder Fit appeared first on Downtown Works.
]]>Now, I could list a bunch of keywords and adjectives describing personality traits of successful entrepreneurs. These would include things like adaptability, persistence, vision, and a can-do attitude. Instead of explaining basic entrepreneurial qualities, I thought it would be fun to highlight a company that flips the script on the startup by first developing business ideas, and then recruiting founders to lead said businesses.
Focusing on Founder Fit – Launch Factory
I had the pleasure of chatting with Brad Chisum, CEO and Co-Founder of Launch Factory, venture capital, and private equity firm reverse-engineering the startup. Think about this – a report from London-based venture capital firm Concentric found that 62 percent of startups fail due to conflict amongst the founding team. Chisum believes that by mitigating startup risk factors, the Launch Factory model offers a solution to startup failure.
Risk vs. Reward
Launch Factory helps its startups by strategically removing barriers to market such as business ideation, market need, and lack of startup capital. The company is built on recruiting founders that will not only shape company culture but help develop a sustainable mission and vision for future growth.
Playing to his engineering strengths, Chisum formed Launch Factory as a “startup studio” where developed business concepts are connected to passionate and talented entrepreneurs. The founder recruitment process is intense. Each potential founder must go through a series of interviews as well as customized behavior and personality tests. “It’s not so much about the resume,” said Chisum. “Placing founders in the right environment with the right personalities is so important in achieving mutual success.”
Think Founder First
The conversation shifted to the qualities and capabilities that Launch Factory looks for in its founders. “Don’t tell us about what you have done, tell us what you are going to do and show us how you would do it,” explained Chisum. “Don’t pretend that the first version of the idea is the best. Experienced founders make evidence-based decisions and are willing to pivot.”
An entrepreneur usually develops and incubates his or her own business idea. When asked how he expects potential founders to bring passion and commitment to a business idea that is not their own, Chisum put it like this, “passion will come the more time a founder spends with an idea. If they can play with it and nurture it, they will change it and put their fingerprints on it.”
He describes how this same philosophy can be explained by thinking about how a house is built. “Launch Factory lays the foundation and provides the necessary materials for the job. Once the house is built, we leave it up to our founders to paint the walls.”
Get Paid for Referrals – Scout Program
Know any fabulous founders ready to take on their next challenge? The Launch Factory Scout Program is offering incentives for referring qualified candidates, including 50k shares of stock in a company! More information and details can be found here.
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]]>There are common personality traits that most business owners share like self-determination and independence. To be any kind of entrepreneur, you must be willing to risk a lot with no guarantee of receiving anything in return. So how does one become a “successful” entrepreneur?
Hundreds of books have been written on the topic of how to become successful in business. However, in this blog, I want to discuss actions and beliefs that will lead you down the path of NOT becoming a successful entrepreneur. It is with humor and humility, that I share this checklist of ways to become an overworked and a genuinely unhappy business owner. Do you check any of these boxes?
Prioritizing Work Over Everything Else
Do you isolate yourself behind a laptop for 10 hours straight until you can’t see straight? If you do, well then you might be an entrepreneur. Being and looking “busy” is a badge of honor in the entrepreneur space. It’s like if you are not working on your next project or networking to your niche every week, you are disrupting the entrepreneurial flow.
There is something to be said for dedicating yourself fully to your business and working hard to accomplish business goals. Consider making room in your jam-packed schedule to spend time with friends and family – participating in life-affirming activities other than work. Entrepreneurs are prone to financial and personal risk. Don’t add health and happiness to the list.
Fearing Failure
Confession time – I have a HUGE fear of failure! The perfectionist in me, even from early childhood, never accepted losing at anything. Although I still feel that a part of me will never grow out of the fear-based mindset, listening to the stories of other entrepreneurs facing and overcoming their own fear of failure gives me hope.
Get over yourself or I will send Gary V after you! You are going to fall flat on your face. You are going to struggle. To allow variables beyond your control dictate the way you do business is certainly a recipe for disaster.
Never Asking for Help
At times it can feel like you are all alone trying to make your business happen. Nobody is an island. Entrepreneurs are more alike and connected than you think.
I get it. This business is your baby. You have poured countless hours and cried tears of joy and pain riding the entrepreneurship rollercoaster. It’s time to start letting go and trusting others to help you on your journey. Ask and you shall receive. If you don’t, you are on your way to burnout and an overwhelming feeling of regret. Attempting to do it all and never asking for help is one of the quickest ways to crash and burn your business.
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No matter what you think of the American Healthcare System, it remains a vital piece of the sustainable health and wellness puzzle in this country today. Only recently, has the importance of mental health care and services become part of the national conversation.
According to a recent article in the San Diego Union-Tribune, “In the United States, about 45 million adults have a mental illness such as anxiety or depression — that’s nearly 1 in 6 adults. Among these adults, a 2016 study found that 60 percent didn’t get treatment during the previous year: no medication, no talk therapy, no support groups.”
Enter stage left, innovator and local tech entrepreneur Spencer Hutchins. Seeing the need for a more collaborative care philosophy, Hutchins founded Concert Health on the idea of fixing a broken healthcare system. The technology platform makes it easier for doctors to connect patients with therapists and mental health care providers. In my opinion, Concert Health is doing more than just helping doctors, they are saving lives!
I sat down with Hutchins to discuss Concert Health and how Downtown Works has helped him during his entrepreneurial journey…
- Tell us a little bit about yourself?
I am a health-tech nut. In the last 6 years, I’ve been starting and running companies. Prior to that, I spent time at a family office, as a management consultant and a couple of stints in public service; most recently at the FCC in the first term of the Obama administration. I’ve got two young sons, so any time I’m not working to re-architect America’s behavioral health system, I’m mostly losing wrestling battles or putting together Lego sets.
- Where did you come up with your original idea or concept for your business?
The genesis of Concert came during a program called 10.10.10 in Denver, where I was exposed to a powerful, research-backed model of integrating behavioral health and primary care called Collaborative Care Management. Then it really got going when I met my co-founder, Virna Little.
- What services and or products do you offer?
Concert Health is a behavioral health medical group. We have about 50 licensed mental health professionals and Psychiatric Consultants, working remotely across four states. We deliver behavioral health services in partnership with primary care physicians – helping people receive support for their whole self from one team. We work in Southern California, Arizona, New York, and Connecticut.
- What were some of your struggles and barriers to market entry and how did you go about overcoming them?
Navigating the US HealthCare System was tough. I leaned heavily on our team-based approach and having subject matter experts. It is great having knowledgeable people surrounding you to help answer specific questions.
- How has being a member of Downtown Works helped you grow your business?
The simplicity allows me to focus on my business and my team instead of office logistics. The space lets us “present” as bigger and more established when we have visits come to the office.
- What is one piece of advice you would give someone just starting their business?
Be obsessive about what value you are creating for the customer. It’s gotten in vogue to say you’re working for a ‘start-up’ — but laser focus on getting someone to pay you to solve a problem (and then being happy they did) is normally the right place to start.
Where can readers find you online?
LinkedIn: Concert Health
Instagram: @Concert_Health
Email: schutchins@gmwhi.org
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