Local Entrepreneur Launches StartupShopKC, a One-Stop Shop for Local Startup, Entrepreneur and Investor Information

Responding to the call for a one-stop shop for Kansas City entrepreneurs, local entrepreneur Tyler Prochnow has launched StartupShopKC.com.  StartupShopKC is a community-riven online map for local entrepreneurs to learn, engage and interact with the growing startup scene in and around the Kansas City metro area.

“For several years now, Kansas City has received national recognition as a hotbed of startup activity, and at the same time, at various conferences, workshops and meetups, I have heard entrepreneurs complain about the difficulty they had in discovering all that our emerging startup scene had to offer,” said Prochnow, StartupShop founder and co-founder Think Big Partners. “There are so many great organizations in town that have contributed to that growth, it has become difficult for entrepreneurs to know where to go to get the help they need.  The biggest challenge for entrepreneurs is connecting the dots on the resources available.”

“It’s a good problem to have,” said Prochnow.  “Having so many essential resources for startups speaks volumes about what is occurring in KC.  The power of today’s technology and the social community platforms available makes organizing these resources relatively simple.”

StartupShopKC.com allows online users to explore a number of different entrepreneur-focused entities that exist in the Kansas City area including events, accelerators, coworking spaces, investors, educational organizations and schools and service providers.  The site displays an interactive map of the Kansas City metro region in which users can search for and identify the resources necessary to take their next steps.

The location-oriented online guide not only displays startup resources in an organized list of categories, but also allows users to search, add their own startup information and provide feedback via Twitter.  Users are encouraged to add their own events, company information and any other relevant data to the site.

“This is not about one company or one group,” said Prochnow.  “It’s not branded or for the benefit of any one organization.  We’ve populated StartupShopKC with  many of Kansas City’s more recognizable names, but this works best when the whole startup community contributes.  We’ve put the power to manage the site in the hands of those closest to the needs.  Anyone looking to connect or contribute to the entrepreneurial ecosystem can add their information and hopefully find their answers.”

To learn more about StartupShopKC or to add your own startup resource to the online map, please visit www.startupshopkc.com.

Follow me! @AllisonThinkBig
Follow StartupShopKC! @StartupShopKC

Jefferson City Hosts 2nd Mid-Missouri Young Professional Summit

A few days ago, Entrepreneur.com listed Kansas City as one of the 9 Cities You Wouldn't Think Are Hubs for Tech Startups.

But we would like to add one more to that list.  And although it may not be considered a "hub", it is a Midwestern city that is making it a priority to grow it's entrepreneurial community.  Welcome to Jefferson City, MO.

Next week, the Mid-Missouri Young Professional Summit will be hosted for the second year in a row in Jefferson City.  The event will build upon the success of the Summit held in 2011, which brought more than 95 participants from the region to learn, share and speak their minds on a specific area of expertise.  In addition to networking, professional development and education, plenty of food, drink and fun will be shared by all!

But things are looking a bit different this year.  The Summit has moved to a larger facility, has expanded in length and is bringing an even bigger bang for an attendee's investment!

With speakers such as Chad Carden, Tyler Prochnow, Skinny Improv and other "peer presenters", the Mid-Missouri Young Professional Summit has been built for any entrepreneur interested in improving themselves, their work or their region.

Go check out the entrepreneurial vibes in Jefferson City at the Mid-MO Young Professional Summit on October 9, 2012 at the G2 Gallery.  Only 15 tickets are left and go for $35.00!  Register today!

Follow me! @AllisonThinkBig

The Top 9 Bros in the Business World

What is a bro? I ask myself this daily. At its core, a “bro” is just another label. To some, it’s a proudly worn badge of honor.  To others, it is a derogatory term.  Some define a bro by what Hollywood seems to think a bro is—upside down visor, popped collar polo, puka shell necklace, tribal tattoo.

But this erroneous Hollywood depiction was created by someone without the slightest idea of what or who a bro really is. Sure, bros are known to be a little rowdy.  They may indulge with libations a little too much.  They definitely like to work out and get yoked. They may have even been a proud member of a college fraternity.

But bros are so much more than that.  Today, bros can be doctors, lawyers, firemen, fathers, and sons.

I am a writer, actor, improvisor, DJ, brother, son....and you guessed it....a bro, as well.
I am Bro, Hear me roar!

As a bro myself, I believe that broscism is something that needs to be put to an end.  Thanks to sites like Brobible and movies like I Love You, Man, bros no longer need to be ashamed by who they are. Bros are nothing new; they’ve been around since the cavemen. Inventor of the wheel?  Total bro.  Founding fathers? You better believe they’re bro legends. Astronauts like Neil Armstrong and John Glenn are two people I would consider to be bro pioneers.

As a young bro in the startup world, I look up to successful bros for inspiration. So without further ado, I present to you my top 9 bros in the business world.  Please note I was limited to only 9 (if I was given free range, this list would be much longer). 

1. Doug Banker: Founder, CEO BroBible.com
   Not only has this bro created a fantastic news website for bros across the nation, he also is a managing partner for BroBible production company Five all in the Fifth Entertainment, and is also a managing partner for Liquid Flow Clothing. The brand of shorts and apparel is known for its hybrid quick-drying fabric that can go from the water to the bar with no problem.
2. Tom Montgomery, Preston Rutherford, Rainer Castillio and Kyle Hency, The Chubsters
   These four Stanford grads and best friends founded the radical shorts company known as Chubbies out of their distain of pants. Tasked with the mission of eradicating cargo shorts all together, the team proclaims its mantra with a battle cry of “Sky’s out, thighs out!” Their crusade against thighpression is proving to be a successful one. This quickly-growing apparel startup can barely keep up with demand.
3. Andy Dunn & Brian Spaly Founders, Bonobos
   The last clothing-minded bros on the list, also hailing from Stanford, created top online retailer for men, Bonobos. Bonobos started out of necessity when co-founder Spaly grew increasingly frustrated to find pants that fit him well. Like any bro, he took matters into his own hands. Armed with a borrowed sewing machine from his girlfriend, Spaly altered and created pants that worked for him. His fellow bros quickly took notice. Dunn joined Spaly and the two moved their operation to Manhattan. Since then, Bonobos has expanded its line from just pants to a wide range of clothing options with one goal in mind: to make men look good.
4. Tyler Prochnow: Founding partner, Think Big Partners
   This list would not be complete without Think Big Partners’ own Tyler Prochnow—and he has more than enough credentials. Prochnow started out as lawyer and morphed into (what I’m assuming came from) the inspiration for the film Jerry Maguire. As founder and president of Gold Peak Sports & Entertainment, Prochnow represented such esteemed clients like Deion Sanders and gold medal Olympian Amy Van Dyken. If that isn’t enough, he also was the founder & first owner of Kansas City’s Arena Football team. And the final brodential—he can pull off a visor, Just look at that sick flow-Just look at it!
   
   
5. Bill Gates: Co-founder, Microsoft
   A bromanitarian and technology guru, Gates has faced brosecution in the past due to questionable business tactics (and possibly for being a little too nerdy). But with a 14-year run at the top of the Forbes list as the richest man alive, those accusations can be easily put behind him. Gates is also ranked by Forbes as the 5th most powerful man in the world. Even though Kanye has said no one man should have all that power, Gates has shown that he will use it all for good through the Bill and Melinda Gates Foundation.
6. Warren Buffett Chairman & CEO, Berkshire Hathaway
   Quite possibly the most modest broillionaire on the list, Buffett has countless ways to make money and, as it seems, just as many ways to give it away. Among his many nicknames, the one that seems to stand out the most is The Billionaire Next Door. Why? Buffett is known for living in the same house in Omaha, Nebraska that he bought in 1957. That proves that you don’t need a mansion to be brotastic.
    
7. Mark Zuckerberg Founder, Facebook.com
   What started as a programming hobby when he was a boy has since grown into the most visited website in the world. Despite being a Harvard dropout, Zuck he been able to make a nice little $12 billion living for himself. Facing broversity due to color blindness, Zuck makes things work by using blue more than red and green in true bro fashion. And wouldn’t ya know it? Tyler Prochnow also suffers from the same color blindness impairment. Bros unite!
8. Richard Branson Founder, Virgin Group
   That’s Sir Richard Branson to you and me! Branson started his first business venture when he was 16 and never looked back. With over 400 companies under his Virgin Brand, the $4.2 billion dollar bro is no stranger to adventure. Holder of the world record for fastest crossing of the English Channel in an amphibious vehicle, he is also a humanitarian (after all, bros love to give back!). When Branson wants to take a break, he doesn’t go to Palm Springs. Instead, he prefers his own private island known as Necker Island. Oh yeah, did I mention he goes to space whenever he pleases?
9. Mark Cuban Owner, Dallas Mavericks
   I could list all the ways Cuban is the ultimate bro...but we don’t have all day. Mark Cuban is a true bro’s bro. Like Branson, Cuban owns an array of companies. Branson may have sharks swimming near his island but Cuban is a shark and can be seen on the the ABC hit Shark Tank where he puts his own money on the line investing in startups for the world to see, true display of brojones. A champion on the NBA court, Cuban is never afraid to voice his opinion on important issues like the US’s corrupt patent system, the economy, or the full court press. He’s a movie star in his own right, as he played a pivotal role (himself) on the HBO hit Entourage. All of his broness can be summed up with one photo:  

Abroham Lincoln.  Teddy Brosevelt.  Brohammed Ali.  Bro Montana.  The list truly goes on and on.  To all of the brotein shake-drinking, brotato chip-eating, brotastic entrebroneurs out there, thanks for doing what you do best and for inspiring other bros out there, like me, every day.      

Think Big Partners Launches First Accelerator Class

Think Big Radio 019: Think Big Accelerator
Listen to Think Big Radio as Herb Sih dives into what Think Big Accelerator is all about.

Think Big Partners has made quite a few announcements in 2012.  From The Gigabit Challenge to the launch of Think Big Ventures, TBP seems to be moving at the speed of light (and as one of the members of the team, I can confirm this!).  

But one of our most exciting announcements was just leaked this morning--the launch of our first accelerator class.  Now introducing the Think Big Accelerator.  

The Think Big Accelerator is a 14-week program that will aid tech-focused, early-stage startups and entrepreneurs in launching a business faster, stronger and smarter this September. 

With a team made up of entrepreneurs, mentors, investors and founders of startup companies, Think Big Partners’ accelerator program combines lessons and observations from other successful programs across the nation to create a model that allows experienced and budding entrepreneurs to build new startups.  Think Big Accelerator sets itself apart, however, by allowing these entrepreneurs to maintain life outside of their businesses while participating in the program. 

“We have studied, observed and finally created our own accelerator model that we think will work better for entrepreneurs who want to remain dedicated to their families and other obligations while still participating in the program,” says Herb Sih, co-founder and managing partner of TBP.  

In order to facilitate this idea, the first class of Think Big Accelerator allows entrepreneurs to arrive ready to work on Monday and leave on Thursday night during the 14-week program.  This model will let traveling entrepreneurs return home on the weekends to spend time with family and manage other responsibilities. 

   

“We have studied what can be done in a short period of time in the startup world,” says Tyler Prochnow, co-founder and senior partner at Think Big Partners.  “After studying the success that startups have in sprint programs like Startup Weekend, Startup Bus and hackathons, we created Think Big Accelerator’s model for the fast-paced, highly-focused entrepreneur.”

“We are amazed at what can be done in a short amount of time,” says Herb.  “With important milestones and deadlines in place, we believe that the entrepreneur participating in Think Big Accelerator will be able to maintain a work-life balance and recognize the opportunity to reenergize, refresh, refocus and reflect at the end of each week by connecting with family when returning home.  It’s a contrary belief, but we think that stepping away from a business actually allows entrepreneurs to work smarter, faster.” 

Entrepreneurs accepted into the program will receive what Herb refers to as “rockstar treatment” while building their businesses in Kansas City.  Think Big Accelerator has assembled the ingredients for participating entrepreneurs to come to Kansas City and work on their businesses comfortably.  The accelerator will provide custom-tailored key elements for the entrepreneur such as real estate, essential service providers, dry-cleaning, restaurant specials, living arrangements, technology, office space and more.  Kansas City businesses interested in providing discounted services for Think Big Accelerator entrepreneurs are encouraged to contact Think Big Partners at (816) 842-5244. 

In addition, those accepted into the accelerator program will partake in field trips to many Kansas City locations for inspiration, education, collaboration and ideation. 

Think Big Accelerator is looking for five to ten technology-based startups (especially businesses with a focus in consumer-facing services, software, web services, apps, etc.) to participate in the program.  Entrepreneurs will participate in the 14-week program Monday-Thursday with the goal of building a successful startup and finally pitching to investors at the end of the program on two separate demo days—one traditional, and one utilizing a state-of-the-art technology.      

The application window for Think Big Accelerator will be open June 15, 2012 until August 10, 2012.  Think Big Partners’ first class will start on September 10, 2012 and finish up with graduation and demo days during the week of December 10, 2012. 

Think Big Accelerator will take 6-8% equity in participating companies with an $18,000-$24,000 investment.  Additionally, there will be an alternative track for those who are not interested in funding but would like to participate in the program. 

To learn more about Think Big Accelerator, please visit www.thinkbigpartners.com/accelerator. 

Follow Think Big! @thinkbigKC

More Like One Out of a Million

WRITTEN BY TYLER PROCHNOW, MANAGING PARTNER

How does entrepreneurship relate to Dumb and Dumber?  Tyler Prochnow, managing partner of Think Big Partners will tell you.  

Lloyd: What do you think the chances are of a guy like you and a girl like me... ending up together? 

Mary: Well, Lloyd, that's difficult to say. I mean, we don't really... 
Lloyd: Hit me with it! Just give it to me straight! I came a long way just to see you, Mary. The least you can do is level with me. What are my chances? 
Mary: Not good. 
Lloyd: You mean, not good like one out of a hundred? 
Mary: I'd say more like one out of a million. 
[pause] Lloyd: So you're telling me there's a chance... *YEAH!* 

I’m 45 years old and the father of two teenagers, one who just got his driver’s license, and feeling a little old these days.  Needless to say, as I start to take stock of my life, I’m beginning to wonder when I’m ever going to grow up.  I still love cartoons, the Three Stooges (the originals), and fart jokes.  So it shouldn’t come as any surprise that I sometimes find inspiration in the strangest of places.  Like the sage wisdom from Jim Carey in the movie Dumb & Dumber quoted above.

As a repeat entrepreneur (I hate the terms serial entrepreneur), I’m often asked what it takes to create a successful startup.  After running through the stock answers of great ideas, tireless efforts, sufficient capital and flawless execution, I sometimes shock my audience noting that I also believe a key ingredient is a delusional attitude.  I think Lloyd Christmas might have made an excellent entrepreneur (although his idea for starting a store selling worm farms needs a little work).  Not because he was smart, or willing to outwork his peers.  No.  Lloyd ignored the odds.

The most successful entrepreneurs I know are all like Lloyd in one key way.  When faced with the odds stacked against them, they simply push forward assuming they are the one.  If someone tells a founder that the odds of success are one in a million, the best startups assume that there are 999,999 other startups out there that are destined to fail.  These are the same delusional people (I’m one of them) that are honestly surprised when they don’t win the Powerball.

Don’t get me wrong.  Not having a clear grasp on reality is a major red flag.  You need to have a very fundamental understanding of your company, your product or service, your market and the fundamental business principals that are necessary for growth.  But when it comes to assessing your chances of success, as long as there is a one in a million shot, why shouldn’t you be the one?

Announcing Think Big Ventures I and First Investment in EyeVerify

Think Big Partners , a Kansas City based early-stage business incubator and technology-focused startup accelerator, announced the launch of its first venture fund, Think Big Ventures I, along with its first venture investment, EyeVerify.

Think Big Ventures I will primarily focus on early-stage, technology-focused web services, apps, software and related opportunities. The fund will also have a preference for highly scalable business models that involve the consumer, established intellectual property, experienced management teams and strong addressable market potential.

With the first close of the fund, Think Big Partners is pleased to announce its first investment in Kansas City-based startup, EyeVerify.  EyeVerify is a software startup that brings to market an authentication module that utilizes cameras on mobile devices to take images of an eye to use as a unique biometric identifier.  The software allows mobile users to capture an image of their eye in the place of entering a password to access their mobile phone.  Toby Rush, founder and CEO of EyeVerify, is a serial entrepreneur and graduate of the PIPELINE Entrepreneurial Immersion Program. 

“The Think Big Ventures investment is one with a lot of smart, experienced people involved,” said Toby Rush, founder and CEO of EyeVerify.  “This fund will allow us to network and connect with others on a much higher level.  Think Big Ventures has extra impact behind it simply because of the people involved, their expertise and experience as founders.” 

Think Big Ventures managers Herb Sih and Tyler Prochnow will manage the fund and will utilize an investment committee process to determine investment decisions. The fund will draw benefit from relationships previously established by Think Big Partners, in addition to searching for the right startup companies across the nation, especially the Midwest.

“We believe we have something unique to offer today’s smart startup. Smart money comes in many forms,” said Tyler Prochnow, senior partner at Think Big Partners. “Our network of advisors, mentors and strategic partners, combined with our milestone-based, dosed capital mentality, aligns everyone’s interests while still allowing us to remain objective and highly disciplined in execution.”

Learn more about Think Big Ventures by following Think Big on Twitter: @thinkbigKC

When is the Best Not the Best?

WRITTEN BY TYLER PROCHNOW, SENIOR PARTNER AT THINK BIG PARTNERS


One of the biggest traps for entrepreneurs is the temptation to choose a partner, an employee, a vendor, a consultant, a lawyer or any other service provider, simply because that person/company is supposed to be the “best” in their particular field.  If we at Think Big had a nickel for every person who came through the door touting their team as having the best web designer, the best software engineer or the best sales director, we’d have a pretty big jar of nickels.  And while excellence is an extremely important factor in choosing one of the above mentioned providers, the question is not whether that individual/company is the “BEST”, but rather whether they are the “BEST FOR YOU”.

My standard stump speech on entrepreneurship always includes a few minutes on the importance of learning from one’s mistakes.  Not a day goes by that I don’t counsel someone on  how each mistake can make you and your business stronger if you are willing to embrace it.  And yet, just because one says it over and over does not mean that we don’t sometimes ignore our own advice.

A couple of years ago, I  pursued a new venture that had significant geographic spread.  The venture required the involvement of individuals in New York, Los Angeles, Phoenix, Atlanta and Kansas City.  Even though I am an attorney by trade and have been involved in hundreds of millions of dollars of complex transactions, this particular deal was beyond my area of expertise.  Trying to prove that I belonged with the big boys in all of these cities, I retained the services of an attorney who had a reputation for being the “best” in the city in handling this specific type of transaction.  It didn’t matter that I had not worked with this attorney before.  I was convinced that he was the right person for the job because he was deemed the “best” by others.

I won’t bore you with all of the ugly details, but hiring this attorney was a huge mistake.  In the middle of our transaction, my attorney decided that one of our potential business partners had a better chance at landing the deal and he kicked me to the curb in order to switch his representation to that person.  To this day, I’m still shocked by the way things transpired.  I don’t know whether it was an ethics violation, and I’m not interested in spending any time to find out.  Instead, I used that error in judgement on my part as a learning experience going forward.

Since that day, I have never hired a service provider or taken on a partner based solely on competence.  I now look for someone I know or trust above all else.  Someone who I know has my best interest at heart and will look to protect me when things get difficult.  And I must say this philosophy has paid significant dividends.  Any endeavor worth pursuing has its ups and downs.  There are always going to be those critical moments in the life cycle of a business when the easy thing to do is just throw up your hands and give up.  At those critical moments, it is extremely important to have a support structure around you that assists you through the difficult time.  Those are the people who are the BEST, because they are the best for you at that point and time.

Don’t misunderstand.  I’m not suggesting that ability and expertise are not extremely important.  Every vendor, consultant, provider, and/or partner that you retain has to be capable of getting the job done.  However, there is almost always more than one person who is capable of providing excellent service.  In the past few years, I have been very lucky to find both tremendously talented people who are also exceptional friends: my partner at Think Big, Herb Sih, my partner at Connexsus, Rusty Rahm, my attorneys, financial advisors, and others.  I go to sleep every night knowing that each of them is an outstanding business operator and a great friend who I trust to support my business and life ventures.

The bottom line is this: In most instances, there is more than one person/company capable of providing excellence.  Your challenge is to find that person who is both proficient and aligned with your interests.  They may be aligned personally, financially or philosophically, but your business will operate much better if you can match up at least one.

Follow Think Big! @ThinkBigKC

009 Think Big Partners: The Think Big Field Trip

Last week, four members of the Think Big team traveled to Silicon Valley with 10 other Midwest startup businesses for the Think Big Field Trip.  While there, entrepreneurs from the Midwest presented their business pitches to numerous Bay area investors at the Silicon Valley Bank Seed Showcase and the Think Big Showcase.

Herb Sih, Tyler Prochnow and Blake Miller give us the inside scoop on what happened on the Think Big Field Trip in this episode of Think Big Radio:

009 Think Big Radio: The Think Big Field Trip
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Silicon Valley Knows a Secret: It's Okay to Fail!

WRITTEN BY TYLER PROCHNOW, CO-FOUNDER OF THINK BIG PARTNERS


Right or wrong, there is a perception in the entrepreneurial/startup space that when looking for a place to start a technology business, there is Silicon Valley and then the rest of the country.  There is a commonly held belief, that most, if not all of the innovative and disruptive technologies being developed today come from roughly 1,500 square miles of northern California.  Perhaps the biggest question from the rest of the country is “Why?”  Sure, the Valley has a number of built-in advantages, including (in no specific order (i) a concentration of incredible research institutions; (ii) a robust job market; (iii) a highly skilled labor force; (iv) a well-established capital community; and (v) a pretty decent climate.  But other cities have many of these elements as well.  So the questions remains:  What makes Silicon Valley the hub of innovation and more importantly, how can the startup environment that has been built there be replicated in other cities?

In my role with Think Big Partners, I am fortunate enough to meet almost daily with incredibly sharp, incredibly talented and incredibly motivated entrepreneurs who are sure they are on track for building the next big thing.  Their enthusiasm and commitment to their idea/business is inspiring and one of the best things about being a part of an organization like Think Big.  While most of the entrepreneurs and a majority of the meetings are here in the Heartland, we have developed a very solid strategic partnership with several key players in Silicon Valley.  As such, I have had reason to interact on a relatively steady basis with some of the power players in the Valley over the past eighteen months.  In that time, I’ve noticed one very important aspect of the culture in the Bay area that does not exist here in Kansas City or in any of the other cities we work in.  It’s an attitude that is born out of entrepreneurial activity and one that is difficult to develop on your own.  The key ingredient:  IT’S OKAY TO FAIL!!

No one likes to fail.  No one sets out to fail.  For most of us, we are taught at a very early age that failure is bad.  Failure in school, failure in relationships, failure in sports.  All of it is terrible and something to be ashamed of.  In Kansas City and the rest of the country, the vast majority of business failures quietly fade away and the founders are doomed to years of humiliation and rejection.  No one wants to associate with a failure.  Yet somehow, that early life lesson seems to be nonexistent in the Valley.  

Some of today’s most powerful business leaders in Silicon Valley have also been the stewards of some spectacular failures.  Perhaps the most revered and famous failure of all, Steve Jobs, set the stage for today’s acceptance.  When Jobs was in his first go-around with Apple, he was very publicly and unceremoniously dumped by the Board of Directors.  Very few people who were paying attention to the tech world at that time were unaware of the humiliation heaped upon Jobs when he was sent packing.  But according to Jobs, it was a blessing.  At a commencement speech at Stanford in 2005, Jobs said, “I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.”

Jerry Kaplan and GO Corp., Marc Andreessen and Loudcloud, Bill Coleman and DEST Systems--the list goes on and on. These entrepreneurs wear their failures like a badge of honor.   We’ve met with a number of VC groups in Silicon Valley who will not invest in entrepreneurs who have not failed at least once.  It is often repeated mantra that if four out of five of your startups don’t fail, you are not being bold enough.

Now let’s be clear about the concept.  Failure by itself is not a predictor of future success.  Thousands and thousands of entrepreneurs have failed because they didn’t understand their business, they didn’t understand their market and/or they were simply not capable of launching a business.  What appears to be pervasive in Silicon Valley is the attitude that it is only a failure if you don’t learn from it.  Many of these spectacular failures provided the necessary learning curve that was essential for the future successes achieved by such entrepreneurs. While discussing a very accomplished business , a well-respected Valley entrepreneur recently said to me, “During their startup phase, [the company] did everything wrong, but they didn’t do it wrong for very long.”  They learned from their failures and after many years of struggling to break even, they are now a publicly traded behemoth.

The most important aspect of all of these examples is that the entrepreneurs didn’t read failure as an indication of their inability to succeed.  It was what it was; a failure of that product or service, in that market, at that particular time in history.  These entrepreneurs did not fold up their tents and go home, but rather, took the lessons learned in their failure and applied them to become better in the next go-round.

This is clearly something that can’t change overnight.  The fear of failure is a deeply-rooted attitude and one that will take years to change in both individuals and communities.  But it is obviously something that can be changed.  The advantage Silicon Valley has is not geographic or climatic (and thus unable to be replicated).  It is in large part, attitudinal and capable of evolving.  If our institutions, government, business, media and family can all begin to understand that failure is not a dirty word, and can come to embrace the educational aspects of failure, then the rest of the world can begin the process of emulating the startup culture of Silicon Valley.

Follow Think Big! @thinkbigKC

Maybe Janis Joplin was Right...

WRITTEN BY TYLER PROCHNOW, CO-FOUNDER & SENIOR PARTNER

While I’m sure Janis Joplin was not thinking about small business and entrepreneurs when she sang “Take another little piece of my heart now baby”, the refrain has served me and many other entrepreneurs well as we focus on finding customers for our businesses.  When we launched the Arena Football franchise in Kansas City in 2006, the Commissioner of the League, David Baker, was kind enough to share some advice with us.  Of course, I almost always welcome advice from successful leaders and try and incorporate their suggestions the best I can.  But this time, it was different.  Baker stands 6’ 8” and is a self-described “couple of twinkies short of 400 pounds.”  When a man of that size speaks, you listen.

The Commissioner told me that the League was asking us for four things.  They were going to ask us for our time. They were going to ask us for our effort.  They were going to ask us for our money (the most important item).  But they were also going to ask us for “a piece of my heart,” because that is what our fans, our players and our community deserved.  Every week, our fans would come out and give a piece of their heart to the team and regardless of how many games we won or lost, we failed if we did not give a piece of our heart back to them.

Now I am not a touchy, feely, emotion-rules-the-day kind of guy.  I’m not into any of that new age; it’s all about feelings philosophy.  But I can tell you that we took the Commissioner’s advice to heart (no pun intended) and I believe that was a huge reason we were so successful in connecting with our fans and selling tickets.  Nearly every decision we made as an organization was with the fan’s heart in mind.  We put ourselves in their shoes (which was not difficult because at the end of the day, that’s what were: fans) and developed a product that spoke to their hearts.   Since that day, whether consciously or subconsciously, we’ve tried to incorporate that attitude into every business venture we have launched.  This is obviously easier in some industries as there are many businesses that would find it difficult to establish an emotional connection with their customer.  Yet I honestly believe that no industry and no business and no customer engages in a transaction without some emotion.  How often have we worked harder on a deal because you “like” the other side?  How often have you killed a project simply because you didn’t “like” the people you were dealing with?

Steve Jobs arguably built one of the most dynamic companies in history by combining cutting-edge technology with emotional appeal.  The outpouring of emotion when Jobs passed away was not because people loved Steve.  Most people had never met him.  But his products spoke to people’s hearts in a way that they became part of the company.  If you owned an Apple product, you were part of Apple.  That is a lofty goal for all of us.

I know one of the first lessons they try and teach you in business is to leave emotion at the door.  Look at the opportunity purely through an economic lens and decide whether the opportunity has merit.  But is that really possible?  Establishing an emotional connection and reaching out to your customers or your partners is the very essence of building brand loyalty and more importantly, customer loyalty.

So whether you are a first time startup with a golden idea, or a serial entrepreneur with another new business, I would urge you to fire up your iPod, put a little Janis Joplin on your playlist and look into your customer’s heart to find the magic ingredient for success.

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Zaarly, Think Big Partners & OsteoGeneX Come Together at Entrepreneurs Unpluggd KC

Last night's Entrepreneurs Unpluggd event brought together entrepreneurs, social media experts, developers and designers from in and around the Kansas City area for the first time.  The event featured three main speakers from extremely different entrepreneurial backgrounds (Bo Fishback of Zaarly, Tyler Prochnow of Think Big Partners and Debra Ellies of OsteoGeneX).  All three speakers told stories about their entrepreneurial paths and then opened up for a Q&A session.

The Think Big team and I sat in the second row so we could get up-close-and-personal with the speakers.  Lucky for me, I was able to capture a few snapshots of the successful night:

Entrepreneurs Unpluggd organizers Stella Fayman and Tim Jahn.

Bo Fishback (with son, Pierce) talks about his crazy Zaarly venture.

Tyler Prochnow of Think Big Partners: "With the right team of people,
it's possible to build about anything."

Tyler Prochnow of Think Big Partners.

Screenland Crown Center was the perfect venue for an intimate evening.

Networking took place before and after the Entrepreneurs Unpluggd event.

An after party took place at the recently opened Snow & Company bar.

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The Gigabit Challenge Announces Initial Advisory Board Members and Judges

The Gigabit Challenge, a global business plan competition looking for entrepreneurial ideas to disrupt on the Google Fiber network, has announced the initial members of its Advisory Board and Judging Panel. The Advisory Board members will provide their extensive knowledge, expertise, and seasoned experience advising The Gigabit Challenge on how to run the best business plan competition possible. 

The initial Advisory Board members for The Gigabit Challenge are: 

• Erik Brynjolfsson, Professor of Management, MIT & Director, MIT Center for Digital Business
• Vint Cerf, Vice President and Chief Internet Evangelist, Google
• Robert Gunderson, Co-Founder and Managing Partner, Gunderson Dettmer
• Harry Kellogg, Vice Chairman, Silicon Valley Bank 
• Philip Korn, Relationship Manager and Managing Director, First Republic Bank 
• Dan'l Lewin, Corporate Vice President of Strategic and Emerging Business Development, Microsoft
• Robert Marcusse, President & Chief Executive Officer, Kansas City Area Development Council
• Keith Molzer, President & Chief Executive Officer, Balance Innovations 
• Rex Northern, Executive Director, Cleantech Open
• Mark Radcliffe, Partner, DLA Piper 
• Mario Rosati, Managing Partner, Wilson Sonsini Goodrich and Rosati
• Angela Tower, Director, PricewaterhouseCoopers

For more information on the Advisory Board members, please visit http://www.gigabitchallenge.com/about/advisory-board.

Through a graduated process, the judges will evaluate the executive summaries, business plans and investor presentations submitted by contestants and will select the winner of The Gigabit Challenge Grand Prize valued at $100,000. The judges will use a software-as-a-service (SaaS) application called iStart to review, evaluate and vote on the materials submitted by the contestants. The iStart application is provided by the Kauffman Foundation, a Gigabit Challenge partner.

The initial Judging Panel members for The Gigabit Challenge are:

• Jennifer Bailey, Partner, Hovey Williams LLP
• Jeff Barco, Chief Executive Officer and Founding Partner, Barco Partners LLC
• Richard Brenner, President & Chief Executive Officer, The Brenner Group 
• Erik Brynjolfsson, Professor of Management, MIT & Director, MIT Center for Digital Business
• Michael Burke, Vice President, King Hershey PC & Co-Chairman of the Bi-State Innovation Committee 
• Steve Fennel, Director of Communications Outreach, KU Medical Center 
• Victor Friedberg, Executive Director, Launch.org
• Michael Gale, Chief Executive Officer, Gramercy Private Equity
• Stuart Gannes, CEO, XVD Technology Holdings & Director of Partnership Projects, O'Reilly Media
• Michael Gelphman, Founder, Kansas City Information Technology Professionals 
• Jonathan Gleason, Director of Business Development, Gunderson Dettmer
• Matt Heinrich, Vice President for Facilities and Technology, Rockhurst University
• David Isenberg, Founder, isen.com LLC
• Philip Korn, Relationship Manager and Managing Director, First Republic Bank
• Greg Kratofil, Shareholder, Polsinelli Shughart
• Thad Langford, Executive in Residence, Openair Equity Partners & President/Chief Executive, Zave Networks (acquired by Google)
• Casey McGlynn, Partner, Wilson Sonsini Goodrich & Rosati
• Eric Melin, Co-Founder & Chief Executive Officer, Philanthropist.org 
• Bryan Richard, Founder, iCode
• David Silverman, Partner, Crosslink Capital
• Adeline Tang, Director of Business Development, SingTel Idea Factory 
• Angela Tower, Director, PricewaterhouseCoopers
• Bud Vick, Owner, Cochran Head Vick & Company
• Radd Way, Executive Vice President, Weitz Construction Company & Advisory Board Member, FiberKC
• Jase Wilson, Principal, Luminopolis & Member, Bi-State Innovation Committee

For more information on the Judging Panel members, please visit http://www.gigabitchallenge.com/about/judges. 

"We are extremely honored to have such accomplished people involved as advisors and judges for The Gigabit Challenge," said Tyler Prochnow, co-founder of Think Big Partners, host of The Gigabit Challenge. "The participation of these high-quality professionals will assure that The Gigabit Challenge will be a great success. We look forward to adding more people to these groups over the coming weeks."

The Gigabit Challenge is actively seeking additional partners. If you are interested in discussing this opportunity, or have questions regarding entering the competition, please visit www.gigabitchallenge.com or contact Think Big Partners at 816-842.5244.

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The Gigabit Challenge Announces Screampoint as First Platform Partner

The GigabitChallenge, a global business plan competition looking for entrepreneurial ideas to disrupt on the Google Fiber network, has welcomed Screampoint as its first Platform Partner. Screampoint is a global leader in providing 5D SMART™ technology solutions that allow government officials, master developers and corporate leaders to access multi-departmental real-time city and building data through the unique interface of a 3D visual model of a city.  As an important new tool in the real estate technology and Smart City sector, Screampoint’s 5D SMART™ technologies will change the way the built environment and the smart cities of the future will be designed, built, monitored and managed. 

As part of the Platform Partner package, Screampoint will allow third-party developers that are finalists in The Gigabit Challenge to utilize the Screampoint 5D SMART™ platform to build applications for free for a period of one year starting in Q1 2012.  This is the same quarter in which Google will begin to deploy the first-in-the-nation one-gigabit Google Fiber network in Kansas City. 

“We are very excited to have Screampoint on board as the founding Platform Partner,” said Tyler Prochnow, co-founder of Think Big Partners, host of The Gigabit Challenge.  “The company’s next-generation 5D SMART™ technology will spawn a whole new genre of applications, including those that will power smart cities, that are ideally suited to run on the Google Fiber network.”

Screampoint is active in countries around the globe and assembles technology companies, building systems management companies, and AEC firms to bring 5D SMART solutions to cities and building owners.

The Gigabit Challenge invites other major platform providers such as Apple, Google, Microsoft, Intel, Oracle and Salesforce to join startup Screampoint in working with The Gigabit Challenge as a Platform Partners.  The Challenge is calling on these innovators to let their developer communities know about this opportunity and encourage them to compete for the $100,000 Grand Prize. 

The first round of The Gigabit Challenge opened on October 3, 2011 and will close at midnight on October 31, 2011.  Finalists will be announced in November and a final pitch with an awards ceremony will be held in Kansas City on January 18, 2012.  View the complete schedule.  For questions concerning applications, partnerships, or judging opportunities, please visit www.gigabitchallenge.com or call (816) 842-5244.  

Take me to the press release.

Written by Allison Way

@AllisonThinkBig

Think Big Co-Founders Sit in on Panels at KC Chamber Innovation Conference

The 2011 Innovation Conference hosted by the Kansas City Chamber of Commerce is blowing it out of the water thanks to the hard work of the Chamber, the contribution of sponsors and partners, the dynamite list of guest speakers and panelists and the great turn-out. 

Think Big Partners' co-founders Herb Sih and Tyler Prochnow participated in two of the panel discussions at the 2011 Innovation Conference this morning. 

[above] Herb Sih as a panelist with Jeff Pfaff of MTB Mobile.  Moderated by Greg Kratofil of Polsinelli Shughart, Birth of an Idea & Seeking Seed Capital answered many entrepreneurs' burning questions.

[above] Tyler Prochnow joins Joel Wiggins (Mid-America Angels), Toby Rush (Rush Tracking Systems), Bruce Richardson (KC Biomedix) and moderator Carolyn Watley (CBIZ & Women's Capital Connection) on the Angel Investing in Kansas City panel.

And the day isn't over yet!  Innovation 20/20, The Future of Kansas City Innovation and a networing reception will round out this year's Innovation Conference.  Tweet the Innovation Conference using #GKCCCINNO and let us know what you think!

Written by Allison Way

@AllisonThinkBig

TBKC's Tyler Prochnow Featured on Your15MintuesRadio

Last week, Tyler Prochnow, co-founder of Think Big Partners, interviewed on Your15MinutesRadio.com.  During the interview, Tyler touched on the details of the Think Big Kansas City Conference and talked about his involvement as a panelist on KC Entrepreneurs You May Not Have Heard Of.

Listen to the Your15MinutesRadio about TBKC now!

Tune in on Your15MinutesRadio Tonight

Don't forget to tune into Your15MinutesRadio tonight at 6:00PM CST to hear a live online interview with Think Big Kansas City co-founder, Tyler Prochnow.  In the interview, Tyler will talk all about what attendees can expect to learn at Think Big Kansas City this year.

To listen to the live interview, click here!

Written by Allison Way.
@AllisonThinkBig

You're in Big Trouble, Mister

LAUNCH & LEARN CANCELLED.  PLEASE CHECK BACK FOR A RESCHEDULE. 

Think Big Partners presents: Launch & Learn -- Legal Issues for Startups

We could all use a little legal advice...especially when starting up a new business.  If you're looking for some answers to your legal questions, check out our Launch & Learn educational seminar Legal Issues for Startups - Don't Let Your Legal Bills Swallow Your Company with Think Big Partners co-founder, Tyler Prochnow.

Participants can expect to:

• Learn factual information and practical knowledge from leading legal professionals with startup, entrepreneurial and investment experience
• Be involved in the exchange of ideas and a discussion of legal issues faced by entrepreneur
• Gain knowledge to do the things right from the start that will help you save thousands of dollars in professional service fees and potentially millions more from potential legal disputes

Join Tyler at bizperc (1800 Baltimore, KC, MO) from 11:30 AM until 1:00 PM on Thursday, March 31st and learn all about startup legal issues.  Cost is $45 and lunch is provided.  It's what every aspiring entrepreneur needs.  Hope to see you there! 

Register now!

About the Presenter: Tyler Prochnow's business career has taken a unique and diverse path to success. From the halls of government in Washington DC, to the sidelines of America's sporting landscape to the high tech world of software, Tyler's career has been defined by significant and varied business interests around the country. Prochnow began a successful law practice with Patton Boggs, LP in Denver then became an associate with the Lathrop & Gage law firm, specializing in marketing and advertising law. As a serial entrepreneur, Prochnow has become partner in many companies including Golden Peak Sports, Connexsus, LLC and ACS Properties, LLC. Since 2008, Prochnow has been a partner and co-founder of Think Big Partners, providing the company's clients with insight, consulting and advice on the difficult legal and business issues facing entrepreneurs today. With a legal background and as the founder and operator of multiple business ventures, Prochnow draws upon his own personal experiences to assist TBP clients through the difficult stages of their business lifecycle.

Written by Allison Way
@AllisonThinkBig