Did One Week KC help Kansas City Become America’s Most Entrepreneurial City?

One Week KC set out with the goal of inching Kansas City toward becoming America’s Most Entrepreneurial City. Did it achieve its goal? 

Making Kansas City into the Most Entrepreneurial City in America is a major undertaking. Rome wasn’t built in a day.  So let’s ask ourselves a different question instead: Did One Week KC lay the foundation for Kansas City to be the Most Entrepreneurial City in America? Yes...but how?  Did this 9-day celebration really foster the entrepreneurial action and growth that we need to claim the big title?

One Week KC was filled with a many events that, first and foremost, brought people from different industries into the same atmosphere.  Starting on Monday, June 18^th, the organizers of the conference provided a platform to allow entrepreneurs, investors, startups and like-minded individuals to interact with one another at a minimum of two times a day!  Now that’s networking. 

iKC, the premier conference on innovation and entrepreneurship, was just one of the components to One Week KC.  iKC’s Inspire Talks and panels not only brought people together, but provided motivation and education. The keynote presentation from Dr. Michael E. Raynor of Deloitte Services LP gave great insight into deliberate disruption. In the afternoon, the interactive discussion panels served as kindling for the Fire Up talks.  All in all, the event was a success, and helped Kansas City inch closer to claiming the Most Entrepreneurial title. 

There was something for everyone throughout One Week KC—from networking events to seminars, breakfasts to happy hours. But that still doesn’t answer the question, “How did a 9-day conference build the foundation?” It can be answered simply with that one word we keep going back to; networking.

Networking is the like pipe from National Treasure; it’s actually quite mysterious. On the surface, it’s just a pipe, but when you dive deeper and think of the different ways it can be used, that’s when you unlock its true potential. Sure, the days of the One Week KC were filled with great learning opportunities. But it’s critical to keep in mind the old adage we hear on an almost daily basis: “It’s not what you know, it’s who you know” (especially in the world of entrepreneurship!).  Waffles, trivia, baseball, and entrepreneurship have very little in common. But because of One Week KC, each of these events served as an avenue for entrepreneurs to network and build valuable connections—connections that could lead into creating more and more new startups here in Kansas City.

What do you think?  Did One Week KC help Kansas City become America’s Most Entrepreneurial City? 

Getting Social & Going Viral Panel Ruffles a Few Feathers at iKC

During iKC there were many great panels and talks all with the goal of innovation and building Kansas City into the most entrepreneurial city in the world. One panel that stood out was the Getting Social & Going Viral session. Moderated by Aaron Deacon of the Social Media Club of KC comprised of panelist Ramsey Mohsen of Digital Evolution Group, Shelley Kramer of V3 Integrated Marketing, and Allison Way of Inboun. The discussion started off with panelist introductions, followed by a general overview of social media. Once the floor was opened for questions the discussion took flight.

The panelists were generally in consensus on social media practices. Some of those that were talked about:

• Getting something to go viral is a goal, it doesn’t just happen. The panel each had their own stories of clients that come to them saying “make it go viral”. Snarky Internet-nerd laughter soon followed.
• Crowd sourcing can be a valuable tool in product development. Mohsen told of his prior experience working with companies that were able to utilize crowd sourcing to gain consumer feedback while developing a new product. This in its self becomes a marketing campaign to build product awareness.
• Humanize your brand. To do anything with social media, you have to have a following.  Unfortunately, the toughest thing to do in the social media space is to build a following. Pretty catch 22, isn’t it? Humanizing your brand is the key to unlocking the social media book of secrets.

The social media soiree really ignited when the question of how to build a productive social media team arose. One side believed in employing the current younger generation that has been using social media since its inception. While another side believed that more experienced marketers are the ideal employees for a social media team. According to Shelly Kramer, “It’s not just being on social media sites and knowing how to use them, it is business! You need someone experienced that knows business.”  Through intense discussion, involving not only the panel but the audience, consensus was reached that it is best to build a team comprised of the experienced business personnel as well as millennials who know social media.  This mix can foster a great social media team in which everyone learns from one another.

Feathers were definitely ruffled during Going Social and Going Viral at iKC (but isn’t that the goal of a great panel?!). All in all, this panel gave valuable insight from their own experiences in an industry where many try and few succeed.  Now why not put those social skills to use and tweet this!

GoMobileKC Recap: Mobile Entrepreneurs & App Developers Ready to Change the World

“We live in a different world now…do you guys see it? The world has changed and as a result of it we have to change.”  These were the opening words from Vince Vaughn, CEO of Why Status Quo and host of the GoMobileKC mini conference last Thursday.  GoMobileKC was a component to One Week KC, a 9-day endeavor to make Kansas City the most entrepreneurial city in the nation. 

This event brought in app developers and mobile entrepreneurs from around the Midwest who were ready to do exactly what Vaughn stated at the beginning of the conference—change.  More specifically, the attendees were ready to create change for others through the use of mobile technology.  The conference also showcased two of the city’s best mobile talent—Captain Dan Stratman, mastermind behind the Airport Life app and Kirk Hasenzahl, CEO of Rarewire. 

The old adage, “Do what you know” was all the inspiration Stratman needed to create his app in 2010.  As a former pilot, he utilized his knowledge of the airline industry as his competitive advantage among the pre-existing airline apps and since then has seen it grow to 21,000 downloads without any formal marketing.  Stratman advised the crowd that creating an app was a long and frustrating process full of challenges.  He noted that if an entrepreneur decides to develop an app, it’s important to be passionate, learn everything there is to know about the business world, use marketing, learn technology and most importantly, do not be afraid to ask for help.

Hasenzahl’s inspiration did not come from a quote but rather a device; Apple’s iPad.  The size of the screen spawned the idea for his company Rarewire, which provides a service that allows others to create apps without being a programmer.  With 10 billion app downloads in 2011 and an expected 185 billion downloads in 2014, it is no doubt Hasenzahl joined the right industry two years ago.  “It’s a gold rush,” he said, “and you want to be the guy selling the shovels.”  Hasenzahl predicts industry growth within app promotion, rich media ad service, and mobile/app security and promoted inspiration for individuals pondering the app world to get out there and go for it.

The conference ended with the announcement of an iPad 3 winner and what Vaughn described as a “Town Hall meeting” type discussion.  Attendees and speakers were able to interact through open forum and share expertise on various components of the mobile industry. 

Want to see what you missed out on? Check out Why Status Quo’s live stream from the conference!   

8 Things to Take Away From iKC; How to Get Funded

Entrepreneurial growth has steadily been on the rise in recent years since the economy took a turn for the worse in 2008. But this surge in entrepreneurship means growth of businesses and more new jobs. Many startups have great ideas that aim to make our lives better. However, every entrepreneur faces a huge obstacle that can plague a business: funding. Some have it; many don’t. Even for those that do get funding face headaches and problems.

Plus, entrepreneurs have to ask themselves many questions in the funding sphere.  Do you go for crowdfunding or look for local investment? Do you try to find an angel investor or seek out a venture capital group? The questions are endless and the answers will vary depending on the business model. The following is valuable insight into the world of funding gathered during iKC panel, Geocashing Players from Pawns: Finding the Power Players to Invest in your Company. 

• Put your own skin in the game: Starting a business is a major risk.  By not investing your own money, you’re sending a message of doubt to potential funders. If you think, “Hey, I’m investing my time. That’s got to be worth something,” you’re still not investing enough. Your time is the measure of your effort. Your money is a measure of your passion.  As panelist Kelly Pruneau of Women's Capital Connection put it, “If you don’t put your own skin in the game, what makes you think I will?”
• Ask people you know: Friends & family—we all have them. When you have an idea that you’re passionate about and you know could be big, don’t be afraid to ask. Whether it’s a well-off uncle or a friend from college, the worst that could happen is that they say no. These people may also have wisdom in that field that will allow them to help in other ways
• Look to the crowd for answers: The great new trend for startups is to get crowdfunding. Sites like Kickstarter, Fundable and Gust all allow you to pitch your idea to millions of people who, in turn, can become potential investors. However, according to Rachel Qualls of Angel Capital Group, it’s important to “gather credible local investors first before looking to crowdfunding”. She also suggests, if possible, to accumulate 90% of your projected needed capital. This way, you’re dealing with people you know. You’re more likely to hear from the person who gave $5 rather than one who gave $5,000. She went on to say that due to the popularity of these sites, it is becoming increasingly harder to “rise above the noise”. Giving insight into the mind of potential angel investors that view funding portals, she says, “Don’t pay for extra listing fees that promise to increase visibility. Investors don’t care for it.  Instead, they look for what has already be raised and how quickly it can become liquid.”
• Know the rules before you get into the game: The recent popularity of crowdfunding has brought about the good folks of the Security Exchange Commission. On May 7th, 2012 they issued guidance to prospective crowdfunding intermediaries under the Jumpstart Our Business Startups (JOBS) Act (H.R. 3606). This measure was taken because the current crowdfunding space looks a lot like that of the stock market prior to the major crash in 1929. A full list of SEC guidelines for crowdfunding is available here.

Let’s say crowdfunding isn’t your cup of tea, mainly because you don’t like a bunch of random peoples’ hands in your tea.  That’s where angel Investors and venture capitalist firms come into play. Much like an elusive white-browed shortwing, these groups can easily be turned off by your actions so it is imperative to know how to deal with them.

• Know everything:  Investors understand that you are passionate about your business.  Don’t spend 14 minutes of your of 15-minute pitch only talking about how cool your business idea is. The investors aren’t really investing in the business. They’re in vesting in you. They want to know if you can do what you say you will. Have you done a reasonable financial forecast? Have you researched the market and potential competitors? What role do you expect from them? These are some of the questions that investors want to know the answer to.
•  Don’t just look for a check: You want to find a sophisticated investor, someone who has already had success. Nine times out of ten, their wisdom is more valuable than their money.
• Don’t be afraid to Think Big: There are many obstacles you may encounter along the way, but that shouldn’t get you down. When you have the opportunity to pitch to angel investors, be optimistic and fearless.

Getting funded is a major undertaking.  You may hear the word “no” 100 times but one “yes”. That “yes” is all it takes to make your idea a reality. Whether you ask friends and family, seek out angel investors, or look to crowdfunding, there is one thing that is universal: people invest in you.

Do You Love Waffles? Syrup? Entrepreneurship? One Week KC’s Startup Waffles is For You!

As Harry Caray Would say, “Hay, you like waffles, I know I sure do...Hay, if you were a waffle and you were starving would you eat yourself?”

But what does this have to do with entrepreneurship, startups or One Week KC?  It’s Startup Waffles. 

It’s time to rise and shine and smell the waffles, Kansas City!  If you’re a founder, hacker, investor or startup enthusiast, One Week KC and Think Big Partners has the event for you.
Like the Avengers, we are asking you to assemble Friday, June 22nd and tackle a challenge not meant for any mortal man or woman—it’s all-you-can-eat waffles! Startup Waffles was originally started by the StartupDigest co-founders Chris & Brendan to bring together founders and hackers for tasty breakfast and great conversation.  And now, Kansas City is on board.

So ready your tummies, gather your knife and fork, and bring your own syrup if you’d like (we’ll also have syrup on hand, but hey, we’re not going to tell you how to live your life) and join us at bizperc (1800 Baltimore) for a waffle feast of the ages.

To learn more about Startup Waffles, along with the rest of One Week KC, check it out right here. You can reserve your spot for the wild waffle rumpus Friday, June 22 from 9:00- 10:30am at 1800 Baltimore here. See you bright and early on June 22^nd, entrepreneurs!

Be sure to follow One Week KC on Twitter for more events: #1wkc