Entrepreneurship can be a lonely pursuit, especially for those who work 60 to 80 hours per week trying to bring a promising idea to market.
That’s partly why there are opportunities popping up in Rhode Island for entrepreneurs to meet up, discuss shared successes and problems and – in general – blow off a little steam.
“When there are opportunities where you can interact with other entrepreneurs going through the same thing you are, struggling with the same issues you are, you can get a lot of benefit from that,” said Saul Kaplan, founder and chief catalyst at the Business Innovation Factory, a research and development nonprofit that helps organizations create and transform business models.
The Providence-based nonprofit, known also as BIF, hosts an annual summit where innovators and entrepreneurs from all over the world come to Providence. The conference comprises a series of TED Talks-like presentations where innovators and entrepreneurs, dubbed “storytellers,” discuss the latest ideas and disruptive business models.
During the two-day event, Kaplan purposefully schedules large gaps of time where attendees are supposed to mosey around the uniquely designed space of Trinity Repertory Co. in Providence and talk with one another in a nonformal way.
He calls it “random collisions of unusual suspects.
“How many times have you been to an event where the content was so-so, but the people were really incredible to connect with?” Kaplan asked, hypothetically. “Why not make that more central to what the purpose is?”
The BIF summit has proven wildly successful. Last year it was named one of the Top 10 Innovative Conferences of 2016 by Inc. Magazine. But the international meetup is only one opportunity for local entrepreneurs to get together.
A quick search of Meetup.com, an online social-networking portal that lists offline meeting opportunities, shows various startup and business groups with small but regular meetings.
The volume is not near to what’s listed in the startup powerhouses of Boston and New York. But even in Rhode Island, which is physically much smaller, startup gatherings are increasingly popular, according to Kelly Ramirez, CEO of Social Enterprise Greenhouse, a business accelerator focused on social enterprises.
“You think in a place as small as Rhode Island that everyone knows each other and knows what’s going on, but the reality is that it’s not quite true and people are very excited when they have the opportunity to learn from others and collaborate,” Ramirez said.
In addition to one-on-one meetings with mentors and industry leaders, SE Greenhouse, a nonprofit based in Providence, hosts meetup events for the startup community and any other interested parties. CEOs of existing companies regularly attend to discuss best practices.
“There’s huge value and it’s re-emphasized every day,” Ramirez said.
The nature of entrepreneurial meetups is also evolving, according to both Ramirez and Kaplan. Social-media platforms such as Facebook, Twitter and others are making it less necessary for individuals to physically attend such meetings. Live streaming, live tweeting and other real-time sharing platforms add another opportunity for participants to engage, whether in person or remotely.
“It amplifies and increases the power of the conversation that’s happening inside the room, and it reminds people in the room that it’s not just about us,” Kaplan said.
The virtual interaction also allows entrepreneurs who are unable to give up two days to attend an event the opportunity to still reap some takeaways and ideas.
“Entrepreneurs who aren’t willing to spend a day might be able to spend a couple hours, so the connections can fit into the experience of the entrepreneur,” Kaplan added. “Not everyone has the luxury to spend days away from their work, but that shouldn’t mean that they shouldn’t have the opportunity to connect with other entrepreneurs.”
Kaplan stresses the importance of making conversations as big as possible, but he also says lasting relationships often require at least some in-person interaction.
“Like all things, it’s a mix,” Kaplan said. “A relationship is built through a combination of in-person interactions that can then be amplified and sustained in a virtual way.”
Ramirez largely agrees.
“I really believe that face-to-face meetings are really important to creating rapport and to know who you’re communicating with before a lot of follow-on communication can happen through tech platforms,” she said.
By example, Ramirez is part of a group of faculty members from Rhode Island colleges and universities focused on entrepreneurship. The group meets in person on a quarterly basis, and then follow-on conversations and ideas are shared through Loomio, a New Zealand-based, worker-owned social enterprise that hosts an online platform for group decision-making.
“I don’t think that level of communication would happen if they didn’t know and develop that personal rapport and trust,” she said.
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