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August 18, 2020

Building your Entrepreneur Ecosystem

Investing /

2 min read Building your Entrepreneur Ecosystem Your Checklist on how to build an Entrepreneur Ecosystem in your Area   Startups need networking, mentoring, and funding. A robust entrepreneur ecosystem fosters connections between the startup and a network of providers, mentors, and investors. Each type of startup: high-growth, tech, consumer product-related, healthcare, etc., will need a unique set of networks (people to hire and contract), mentorship (people who can guide and coach the startup), and funding (people who can invest in the business).   The following are a series of steps you can take to build a solid Entrepreneur Ecosystem in your area. Step #1: Map the Startups in Your Area The first step to growing your startup community is to identify the startups in your area. Start by mapping the location of each company. Then, you’ll want to capture the type of company, location, and stage of growth, categorize them by sector (healthcare, tech, consumer product goods), and then subcategorize by stage (seed, early-stage startup, late-stage startup). Having a solid list will give you a great place to start. Step #2: Map the Existing Startup Resources in Your Area The second step is to identify the startup resources in your area. Build a list of groups, organizations, funds, and other accessible resources, and then categorize each by offering (networking, mentoring, funding) and subcategorize by stage (seed, early-stage startup, late-stage startup).   Step #3: Choose the Type of Startup You Can Support Next, you’ll want to choose your entrepreneur type to support and be intentional about it. Understand the type of network they need, the type of mentorship they require, and, importantly, the kind of funding they need.   Step #4: Identify the Gaps in Resources The fourth step to growing your startup community is identifying the gaps between the resources needed and those available.  Identify the missing network, mentorship, and funding resources in the area.   Step #5: Recruit the Resources to Fill the Gaps Once you have identified the gaps, it’s time to recruit the resources to fill the gaps.   Step #6: Setup a networking platform to facilitate the connections The last step to growing your startup community is setting up a networking platform to facilitate the connections Recruit network resources. Having a platform will connect startups to providers, suppliers, customers, etc. It can also connect startups to advisors, mentors, and coaches through pitch sessions, online portals, and much more. Read more: http://staging.startupfundingespresso.com/education Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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The Challenges of Investing in the Impact Space

Investing /

1min read When it comes to impact investing, the truth is this: It’s harder to invest in the impact space than in the traditional venture space.  That is not to say that the traditional venture space isn’t hard. Of course, investing in the venture space is quite tricky on its own. However, impact investing holds a set of challenges unique to its sector. One thing that new investors interested in impact should keep in mind is that these are investments that take time. It is not uncommon to wind up making an investment and holding on to it for 5-8 years, on average. Fundamentally, impact investing is not for the faint of heart. It requires a tremendous amount of focus, and you should only be investing in areas where you think you can affect the outcome. Otherwise, the time you spend with it may not be worth it. It’s also essential to take your time and ensure that you’ve put in the work to make the entrepreneur and first five people of the team resilient individuals. After all, they are likely in it for the long haul, too, and it all comes down to emotional resilience. Make sure that the team has figured out how to take care of themselves through the process of starting a company. Many times, these early-stage entrepreneurs offer a lot of opportunities to investors, but if the individual hasn’t spent time on him or herself, there’s going to end up being corners that get cut. It is at this stage investors begin to see some of the messiness, especially the ethical hang-ups that can happen with new companies. There are a lot of opportunities around the world to open up markets for these individuals, but you have to make sure that they are well prepared for the ride. Read more: http://staging.startupfundingespresso.com/education Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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New Investor Risks

Investing /

1 min read As a new investor, entering into the world of investing can be an exciting time. Opportunities can seem limitless, and they are, especially as the world’s talent pool continues to expand in ways we’ve never seen before. When you’re just getting into the game, there are a couple of steps you can take to increase your chances of success. The first thing you should remember is: Networks are a priceless resource for countless reasons, especially for a new investor. One of the main advantages of a robust Network is having a place to ask questions. The more questions you can ask, the better. When you’re just starting out, you’re going to spend some time in a learning phase. Take this time to soak up all of the information you can; a good network will make all of that information available to you. All you have to do is ask and be open to learning. Another vital thing to keep in mind at the very beginning is: Don’t get overexcited. You might find a few companies with a solid pitch and great founders. The founders are excited, so you get excited, too. Inevitably, new investors who are too eager will write a check to startups who will, as most do, close their doors. This outcome is simply the nature of the space. A number of the startups you invest in will fail because, no matter how much you want them to be a winner, the startup world is a numbers game. Often, this leads to frustration, and many investors choose not to re-engage in the investment world because they feel they’ve “been burned.” However, you can minimize the potential risk. Instead of getting caught up in the excitement, try to take the first 6-12 months to familiarize yourself with the ecosystem. Ask a lot of questions and then write your first check. Continue to learn and ask questions along the way. Focus on building your portfolio slowly and with the correct education. In the end, this will help reduce the risk of failure. Read more: http://staging.startupfundingespresso.com/education Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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