An Easy Hack to Grow the Entrepreneurial Ecosystem in Your Community
We’ve all heard the cliche, “good ideas are cheap.” While shrewd business planning, marketing strategy, product/market fit, and tight financials are all components of success, these elements boil down to the humans that develop and execute them. Which means that if you’re in the business of building businesses, like we are at Hunsicker, you’re constantly looking to meet great people. But that’s an easier directive to issue than to follow. Especially because you never know what puzzle piece folks might play in the ultimate effort to solve problems - a customer, a service provider, a team member, an investor, or even the elusive co-founder. In order to tease that kind of information out, you need to get beyond the small talk and break past the silos.
While the search for talent and human networks is not unique to us, we think one of our approaches to cultivating a stronger personal network is a replicable model that's likely able to work in other geographies and industries as well.
Here are the central tenets we began with:
- We need to meet people in person to assess if they’re going to be a great co-founder for us. Virtual discussions are easy, but they are poor proxy for assessment. Nothing beats face-to-face.
- Authentic connection takes more than an exchange of business cards or a quick email conversation. We need to have more meaningful and lengthy discussions to get to know each other, and in doing so, move past our inherent biases.
- It’s intimidating to be real with other people at first. Giving folks a commonly shared piece to start the conversation in a neutral place helps everyone feel more comfortable, especially those who aren’t naturally extroverted. It also provides an opportunity to gain insights on what makes people tick and how they think critically.
- Everyone is busy, sure. But we make time for things that we enjoy and matter. If we want to ask for someone’s time to be spent together, we better make it pleasant and meaningful to them, too. But also, don’t get greedy with others' time. Leave room for the next conversation down the road.
- Power dynamics matter. If you want to assess how someone genuinely relates to others, give them a chance to contribute without feeling like someone else has the upper hand.
- Humans naturally converge towards likeness - we seek out people who feel like ourselves. To diversify and push beyond our safety bubble, we need others to feel welcomed to introduce us to their acquaintances too.
- Food and drink is common fuel. Don’t assume everyone’s tank is fully filled - always offer tasty bites and refreshing beverages.
- Trust is earned over time and ultimately leads to the best referrals. While it can’t be forced, it can be cultivated via genuine hospitality. Set a stage without pretense - minimal insider jargon, lacking self-importance, and an inclusive, welcoming tone.
- Gratitude never hurts anyone. Let people know directly that you appreciate their time.
From these principles, we launched the Hunsicker Fireside Convos (HFC).
These are invite-only events that take place on a regular quarterly to bimonthly cadence with approximately 20 guests. Half of those guests are invited by the Hunsicker team, with a curative eye towards individuals from different perspectives or professional pathways. The other half of the guests are plus 1s of the original invitees. This ensures that no one individual is setting the guest list and typically results in numerous new introductions. HFCs occur midweek, in the early evening, so folks can come straight from work and still get home at a reasonable time. They don’t last much more than 2 hrs. We host them at our offices- a historic, rambling, and renovated 1880s Victorian home that happens to have numerous old fireplaces in a living room type setting. There’s plenty of parking, and we provide snacks and refreshments, including nonalcoholic and adult beverages.
To establish common ground, all guests, whether invited by Hunsicker or as a +1, then receive a content piece that the evening’s discussion will build from. That piece can vary - a podcast episode, an article, a video, etc. But the right content is easy to consume, slightly provocative, and thought-provoking. Topics we’ve explored include timely ones ( artificial intelligence, the morality of immortality) and long-debated ones (investor vs. founder dynamics, work-life balance). Regardless of the subject, the piece provides the fodder to start the conversation, led loosely by a “host”, who’s main function is to instigate introductions and typically frame one initial question for the group. Historically, we’ve found that the discussion never merits another prompt. Rather, the convergence of the expertise and backgrounds of the attendees leads to a lively, dynamic and stimulating conversation. It’s common to have to stop the flow in the interest of time.
While the format and logistics are by no means innovative, guests have constantly reported that HFCs fill a void; a happy median between the meaningless and rapid small-talk of a conference and the intensely personal and time-consuming coffee meeting. From our perspective, HFCs hit the mark on the ideals we began with, while also allowing us to broaden our human networks. And while we’ve occasionally found promising co-founders in the process, we recognize that talent identification is rarely a one-hop connection. The ripple out of those organic relationships continue to grow, for us, and for the larger startup ecosystem in Central Kentucky. And this momentum will help to inspire even more locals to pursue their innovative ideas, ultimately changing the mindset that great startups can only come from the coasts.