Today I caught up with a family member. One of the things we talked about was my habit of posting daily. Bob asked how long I’d been writing, how long I planned to write, and why I had decided to write every day. I told him that I’ve been writing for four months and that I plan to do it for at least a year (hopefully much longer) and explained my reasons. I get asked these questions a lot. Most people say, “That’s nice to know,” and the conversation moves on. Today was different.

Bob shared how my posts have affected him. I really enjoyed the feedback after writing every day for months with little idea of whether I’m doing anything other than whistling in the wind. Bob said he reads my posts every day on LinkedIn’s app. LinkedIn doesn’t provide stats on article impressions or views, so this was news to me. And he said that he has shared some of my posts. With no stats, I had no idea if I’d gotten any shares. Then he told me how my weekly work-from-home posts have helped him manage better. Those are the posts in which I track how many weeks I’ve worked from home (sadly, it’s been eighteen), describe my main observations during the week, and summarize my takeaways. I assumed this post didn’t resonate with others. It was designed to force me to reflect every week and be aware of the pandemic’s impact on my mental state and to be my “easy” post for the week. I thought it would bore people.

I found out that Bob has enjoyed my reflections so much that he’s borrowed the idea. He now reflects about things himself, both alone and with his team. They have a standing virtual conversation that’s become the highlight of their week. They share personal and professional thoughts and open up about their mental state. It’s become a substitute for lost water-cooler talk and brought the team closer.

My conversation with Bob was eye-opening, to say the least. Never in a million years would I have guessed that my posts had helped a team connect. Or that anyone reads them every day. When I began writing, it was to give back and help others by sharing my experiences and thoughts. I reflected on what I’d learned after 60 days. Today, I learned more. Bob helped me understand the reach of my writing and the impact it can have. I’m glad my posts add value to others’ lives, grateful for the experiences and opportunities that I’ve been blessed with, and encouraged to continue writing.

Next time you’re considering doing something positive for others but aren’t sure if it will be helpful . . . do it anyway. You could end up having a much bigger impact than you ever could have imagined!

Happy July 4th!

I hope everyone had a safe and healthy holiday!

Today a friend reached out and offered a suggestion. He’s watched me share more over the last few months and had an idea. He sent me a text about it and we hopped on the phone. The suggestion was a small tweak that would expose my content to more people. I had no idea it was possible. I thanked him and asked if he had seen anything else I could do better, and he made more suggestions. All of them were great.

I reflected after the call. In ten minutes, he told me things that would have taken me weeks to figure out. What a huge amount of time saved! I just had to open my mind and be receptive to someone pointing out an area I could improve in.

Early in my entrepreneurial journey I was overconfident. People would make suggestions, but I wouldn’t heed them. If I had a vision for something and a suggestion didn’t mesh with it, I wouldn’t take it seriously. Instead of listening to what the person was saying, I would fixate on their not buying into my vision. Often, I learned the hard way. Eventually I’d do what they had suggested, but only after my vision had failed. Over time, I learned to appreciate credible people and listen when they make suggestions.

My friend is a very credible entrepreneur and respected in his field, so I was receptive when he reached out. In fact, I was excited to be critiqued by him and hear his perspective. Sure, he pointed out things I wasn’t doing well. But more importantly he showed me a better way and explained why it was a better way. I thanked him for taking the time to contact me and implemented the change while we were on the phone. I wanted him to know that I took his suggestions seriously.

The next time someone credible offers to critique your work, jump at the chance and listen to them. If such offers aren’t coming your way, consider asking someone credible to critique your work. You could save yourself a lot of time and energy and learn things you might not have otherwise!

I recently connected virtually with an investor based in San Francisco. He said the area has an extensive network of investors with early-stage experience who are willing to invest when a company is two people and an MVP. There’s a deep bench of subject-matter experts who have firsthand experience with a company going from an idea to a material liquidity event (I define that as $250+ million). And because there’s a lot of capital available for entrepreneurs, investors compete.

He’s visited Atlanta a few times, attending events like Venture Atlanta and trying to get to know more about the city’s startup ecosystem. His first observation was that his assumptions were completely wrong. He assumed the Atlanta community of investors would be more diverse than San Francisco’s, but he found them to be similar. He thought the ecosystem would be united, with everyone working together. Instead he found the city to be somewhat fragmented by geography. Overall, he likes Atlanta and thinks there’s lots of opportunity here. Unfortunately, he found it difficult to locate great Atlanta companies to invest in without physically being in the city.

I think most of his observations are accurate. The city can be challenging to navigate if you don’t live here. However, I believe Atlanta’s entrepreneurial ecosystem is on the cusp of something big. Just a few things are needed for it to be top-tier.

Every city has unique qualities that make up its identity. Copying a successful city won’t yield the same results. That said, I believe there is a pattern to success. Certain foundational elements are common to cities with strong entrepreneurial ecosystems, and they should be implemented by cities that want to replicate that success. Here are some of them:

• Abundant knowledge about the entrepreneurial journey that’s readily available to everyone regardless of their background
• A desire to establish bidirectional relationships with people, even if it means going outside one’s comfort zone
• Available capital and mentoring for talented and capable entrepreneurs of all backgrounds

I’m hopeful that Atlanta (and other cities) will add these foundational items. Doing so could change the trajectory for the city and all the people who call it home!

Today I had a great conversation with a local venture capitalist. We mainly discussed opportunities to improve the Atlanta startup ecosystem. The subject of accelerators came up. Atlanta has a few accelerators that play an important role. They provide education, mentorship, and introductions that help fill entrepreneurs’ gaps (in knowledge, relationships, and capital). They also foster community and camaraderie by connecting entrepreneurs who otherwise wouldn’t know each other. Working in close proximity to peers in co-working spaces is a big part of the accelerator playbook.

The venture capitalist pointed out that accelerators as we know them have an uncertain future, which could affect the ecosystem. Working in close proximity now is risky because of COVID-19. If that risk isn’t eliminated, what will that mean for accelerators? Virtual communication is a good alternative, but it doesn’t give entrepreneurs the chance to build the bonds that develop when you’re working side by side. Other serendipitous interactions are also limited. If accelerators can’t operate in dense spaces, their ability to accelerate entrepreneurs’ success will be limited. If fewer entrepreneurs are successful, the momentum of the overall ecosystem could slow.

I’d thought about this before but hearing it from a venture capitalist highlighted the importance of accelerators. I don’t have an answer to this problem, but I’m starting to think about it more. How do you accelerate entrepreneurs’ success if physical interaction is limited and the accelerator model is less effective? How can you fill their knowledge, relationship, and capital gaps?

Like I said, I don’t know the answer to these questions. But I’d love to hear other people’s ideas about them.

Last year I attended a conference in Atlanta. One panelist was a black venture capitalist. I hadn’t heard of him and was intrigued. He has experience at various venture firms and recently launched a $40 million fund to start his own. His firm is a hybrid that invests in emerging venture capital firms and early-stage companies. This hybrid approach was new to me. I set a goal of connecting with him and learning from his experiences. Unfortunately, he lives on the West Coast (like most VCs), so it hasn’t happened.

I try to read everything that’s published about him. One piece mentioned that he would be giving a talk to alumni of his alma mater via Zoom. I didn’t attend his school but figured I’d try to register anyway. Worst case, they reject my registration. Best case, they don’t, and I get to learn something. To my surprise, they let me in.

The talk was great—well worth the time. He shared his unique perspective on various things and discussed the challenge of raising capital for his firm. The highlight, though, was an unpublished resource he shares with firms he invests in. He offered to share it with his audience upon request. Naturally, I asked for a copy. Had I not attended, I would never have known this golden nugget of information was available.

I haven’t been able to connect with him in person, but I didn’t let that discourage me. I did the next best thing. I went to where he would be sharing his experiences and listened. Today, it happened to be on Zoom. It wasn’t what I envisioned when I set my goal, but it did the trick. It filled some of my knowledge gap, and I now have a great resource that will continue to do so.

Sometimes it isn’t obvious how you can accomplish a goal. But if you’re clear on what your goal is, persistent, and open to creative solutions, the universe usually presents you with an opportunity. You just need to recognize it and take advantage of it.

I recently spoke with a friend who happens to be an entrepreneur. One of his businesses is in commercial real estate. We talked about my journey with CCAW and how my real estate needs evolved. When I started CCAW, it was a small desk in the corner of my apartment. I worked from home for about three years. When I expanded the team, I sublet space from a much larger company for a few years. Next we moved to coworking space at Atlanta Tech Village.

My friend thought about all the rent I’d paid over the years and couldn’t understand why I hadn’t bought a building. In fact, I considered purchasing a commercial space and drove around many times looking for the perfect place. Each time I decided against pulling the trigger. Here’s some my reasoning:

• Community – We had a very small team, so creating a sense of community was difficult. Subleased and coworking space provided instant community, which was a huge plus in recruiting. Learning events, socials, friend groups, etc. boosted team morale. People liked coming to work.
• Flexibility – I couldn’t predict the future. Being in a space that could accommodate change was appealing. We grew and contracted many times over the years. Not owning space helped minimize the stress of those periods.
• Location – I couldn’t afford a building in a nice part of town. Subleasing and coworking allowed CCAW to be located in a desirable, walkable area. This was a huge plus during recruiting and visits from vendors.
• Amenities – Being in a space used by many companies allowed for amenities we could never have afforded if I had bought a building. A gym, a rooftop deck: density made them possible.
• Facilities – We didn’t have to worry about maintenance or upkeep because building management handled everything. Owning a space would have introduced a set of issues that I wasn’t interested in.
• Serendipity – Working alongside other companies made regular chance encounters possible. This may seem insignificant, but some of our luckiest breaks came from those encounters. Owning would have eliminated any chance of such luck.
• Founder relationships – I built solid relationships with other founders who worked in the same space, often through random interactions. Over the years, these relationships have helped me navigate challenging times and have turned into friendships. Owning would have made this many times more difficult.

Could I have paid a lot less per square foot by owning? Yup. Could I have built equity in a real estate asset? Absolutely. Looking back, do I wish I’d bought? Not a chance.

My criteria weren’t based on cost. They were based on value. I regularly asked myself if the value CCAW received from not owning exceeded the cost. The answer was always yes. In the end, the way most things are priced ensures that you get what you pay for.

Next time you’re considering a purchase, ask yourself if the value will exceed the cost.

I tend to be a fact-driven independent thinker. I enjoy hearing different perspectives, though, and I’m happy to be persuaded by sound logic. Today I had two great conversations about group decisions that got me thinking. How do you get the best decisions from a group?

Groups of credible people are powerful. They can make great decisions. Each person brings a perspective shaped by their unique experiences. When they share it, everyone else glimpses the world through their lens. Incorporating the views of disparate people produces a better, more comprehensive decision. Will it be a perfect decision? No. Will it be stronger and more cohesive? Absolutely!

I’ve often found that it’s difficult to get every member of a group to speak up. A confident, perhaps dominant, person who shares their opinion early on can sway others too easily and discourage them from sharing their thoughts. Groupthink is the result, and it’s not a good thing. If everyone rallies behind a single perspective instead of discussing different ways of looking at the problem, the result is a consensus decision that is weak.

I’ve read lots about this and I believe consensus decisions can be dangerous. One of the conversations I had today affirmed this. The lack of a contrarian perspective in a group is a warning sign. If everyone sees the issue the same way, the group may be overlooking something material. If they are, the decision they settle on will be flawed and probably wrong.

The next time you’re working in a group and you have a different opinion than others do, let it be heard (respectfully and collaboratively). Even if the group doesn’t agree with you, you’re adding value. You never know—your contrarian view could be the difference between a disastrous decision rooted in groupthink and an amazing one!

Today I had a conversation with a fellow entrepreneur that blew me away. We started our companies around the same time, so our paths have crossed in Atlanta’s startup community over the years. Recently we’ve gotten to know each other better and have discussed how to improve the ecosystem for future entrepreneurs.

Today, we each talked about our background and our entrepreneurial journey. We wanted to help each other understand how our experiences shaped us and how they fuel our passion to help others. As we talked, we realized that we’re connected not only as entrepreneurs but also in various ways on a very personal level. We have close personal relationships with people who in turn have close personal relationships with each other.

Honestly, I was surprised. I didn’t anticipate the deep level of personal connectedness we uncovered. I had no idea we knew the same people. I’m thankful for the conversation. It allowed us to connect in a different way and develop a deep understanding of each other. I anticipate that it will prove to be the foundation of a great relationship.

Relationships are central to entrepreneurship (and, more broadly, to life). Entrepreneurs continually build relationships as we participate in various unrelated groups. Across many years, paths will cross. Inevitably, relationships will bleed over from one group to another and between business and our personal lives.

Relationships make the world go ’round—and the world is much smaller than we realize. Be mindful of this, entrepreneurs, in all your endeavors.

Achieving entrepreneurial success can take many years. Many things make the journey difficult, but I believe gaps play an outsize role. Big relationship, knowledge, or capital gaps can break an entrepreneur. Maybe you don’t know anyone to introduce you to a decision maker in your industry. Or you’re unsure how to recruit the right team members. Or you don’t have the money to fund your growth plans—and don’t know how to go about acquiring it. I want to be clear: all entrepreneurs have gaps—extra-large ones are what I’m referring to.

To succeed, you have to figure things out as you go along. You must find the ideal path to your destination. If your gaps are yawning abysses, you’re looking for a path that’s in pitch-black darkness. But if they’re minimal, the path is lined with bricks and LED lights. You still have to find it and walk down it, and there will be obstacles along the way, but it will be far less difficult and time consuming to traverse.

My gaps were huge when I founded CCAW. I didn’t realize they were, though, until I surrounded myself with others through organizations like EO. I was able to start filling those gaps with their help. It’s still a work in progress, but plugging my gaps gave me a much better chance to succeed.

I’m a strong believer that Atlanta’s entrepreneurial ecosystem can reach the next level. The city has a lot going for it. Let’s help rising entrepreneurs who have big gaps gain the knowledge, build the relationships, and acquire the capital they need. Together, we can help Atlanta reach its full potential!