Comments on: The Best City for Entrepreneurs http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/ Small business marketing blog Sun, 22 Nov 2009 02:06:52 -0500 http://wordpress.org/?v=abc hourly 1 By: Amanda http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399962 Amanda Sun, 06 Jul 2008 02:47:59 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399962 Check out Richard Florida for a complete analysis on why some cities attract entrepreneurs and innovation while others don't. Vibe is definitely part of it - I think this feeling is a sense that your neighbors (past and present) are expressing themselves and so can you. To keep it simple, Richard calls this tolerance and says the combination of it, talent and technology creates a perfect environment for entrepreneurship/economic success. His latest book talks about how to pick one of these cities maximize your personal success in all aspects of your life. www.creativeclass.com Check out Richard Florida for a complete analysis on why some cities attract entrepreneurs and innovation while others don’t. Vibe is definitely part of it – I think this feeling is a sense that your neighbors (past and present) are expressing themselves and so can you. To keep it simple, Richard calls this tolerance and says the combination of it, talent and technology creates a perfect environment for entrepreneurship/economic success. His latest book talks about how to pick one of these cities maximize your personal success in all aspects of your life.

http://www.creativeclass.com

]]> By: Joe http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399928 Joe Thu, 03 Jul 2008 17:17:54 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399928 I can only speak to the guy in the garage type of entrepreneur (which is me). Does the city have readily available high speed internet? Is it cheap to live in? Are there universities pumping out highly educated individuals into the community? Are there corporations bringing highly training individuals to the community? These are the main elements to my mind. I live in St. Louis and couldn't have made it through the rough times in DC (my prior home). It seems to me that the existence of large corporations is probably a high predictor of startup activity. The highest profile startups (without VC backing) I am aware of in my hometown almost always involve guys who jumped out of the corporate game and tried to make a go of it on their own. These sorts of people also have an easier time accessing capital. I can only speak to the guy in the garage type of entrepreneur (which is me). Does the city have readily available high speed internet? Is it cheap to live in? Are there universities pumping out highly educated individuals into the community? Are there corporations bringing highly training individuals to the community? These are the main elements to my mind. I live in St. Louis and couldn’t have made it through the rough times in DC (my prior home). It seems to me that the existence of large corporations is probably a high predictor of startup activity. The highest profile startups (without VC backing) I am aware of in my hometown almost always involve guys who jumped out of the corporate game and tried to make a go of it on their own. These sorts of people also have an easier time accessing capital.

]]> By: Michelle http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399886 Michelle Wed, 02 Jul 2008 17:45:23 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399886 I have been in healthcare and sales in Tucson, AZ for over 20 years, I began local, branched out to Phoenix and returned to Tucson to climb a 10 year corporate ladder with Big Pharma. (I left last year to start-my own health education and consulting company.) Believe me, there is a huge contrast in marketing, sales strategies and atmosphere between Phoenix and Tucson. You would think Tucson, being a "small" college town would support innovation and progress. But we have a "scarcity" mentality that is a constant barrier in almost every local industry. Chambers compete for members and support $$ over small business. In-fighting and politics between hospitals, healthcare groups, and providers take precedence over patient care. Non-profit groups fight over funding dollars, and the University is an Ivory Tower, too self-absorbed with it's own priorities to bother with us common folk. Anybody need a grumpy, but idealistic, health consultant in San Diego! I have been in healthcare and sales in Tucson, AZ for over 20 years, I began local, branched out to Phoenix and returned to Tucson to climb a 10 year corporate ladder with Big Pharma. (I left last year to start-my own health education and consulting company.)

Believe me, there is a huge contrast in marketing, sales strategies and atmosphere between Phoenix and Tucson.

You would think Tucson, being a “small” college town would support innovation and progress. But we have a “scarcity” mentality that is a constant barrier in almost every local industry.

Chambers compete for members and support $$ over small business. In-fighting and politics between hospitals, healthcare groups, and providers take precedence over patient care. Non-profit groups fight over funding dollars, and the University is an Ivory Tower, too self-absorbed with it’s own priorities to bother with us common folk.

Anybody need a grumpy, but idealistic, health consultant in San Diego!

]]> By: Charlie Crystle http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399884 Charlie Crystle Wed, 02 Jul 2008 16:43:13 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399884 Lancaster, PA. Besides being the home of the Amish, whose greatest innovation is to avoid complications, we're home to us, Mission Research, founded by the founder of ChiliSoft (me) and the original team. We have about a dozen other good companies, a lot of entrepreneurs, LOW cost of living, BUT not a great flow of venture capital. So we have to get creative, like build real companies with real revenues, then getn investor attention. check out http://www.crmbrella.com for a new desktop crm, and http://www.missionresearch.com/giftworks for great fundraising software! Lancaster, PA. Besides being the home of the Amish, whose greatest innovation is to avoid complications, we’re home to us, Mission Research, founded by the founder of ChiliSoft (me) and the original team.

We have about a dozen other good companies, a lot of entrepreneurs, LOW cost of living, BUT not a great flow of venture capital. So we have to get creative, like build real companies with real revenues, then getn investor attention.

check out http://www.crmbrella.com for a new desktop crm, and http://www.missionresearch.com/giftworks for great fundraising software!

]]> By: Shell Smith http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399881 Shell Smith Wed, 02 Jul 2008 15:18:32 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399881 I actually have been looking into cities where I could expand my business. I have recently read an article about Salt Lake, UT. There are a lot of very successful companies that have started or are based out of Utah. Pretty interesting. People state over and over during my inquiries the reason for this is the customer service possibilities. I actually read a <a href="http://www.deliverandmeasure.com/" title="book" rel="nofollow">book</a> by Richard Hanks, president of a Utah based customer service company called Mindshare, that sold me. I hope this helps. I actually have been looking into cities where I could expand my business. I have recently read an article about Salt Lake, UT. There are a lot of very successful companies that have started or are based out of Utah. Pretty interesting. People state over and over during my inquiries the reason for this is the customer service possibilities. I actually read a book by Richard Hanks, president of a Utah based customer service company called Mindshare, that sold me. I hope this helps.

]]> By: John Jantsch http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399852 John Jantsch Tue, 01 Jul 2008 15:56:40 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399852 @Chris - thanks for the great addition - I love it when people are so obviously passionate about their towns. You make a great case for Indy, but since you stole the NCAA from us I have hard time being nice. Actually, I agree Indy should be on the list - a lot of really positive things happening there. @Chris – thanks for the great addition – I love it when people are so obviously passionate about their towns. You make a great case for Indy, but since you stole the NCAA from us I have hard time being nice.

Actually, I agree Indy should be on the list – a lot of really positive things happening there.

]]> By: Chris Baggott http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399851 Chris Baggott Tue, 01 Jul 2008 15:50:26 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399851 I've got to put my vote in for Indianapolis! Personally I've started three companies here including ExactTarget which has filed it's S1 and Compendium Blogware. In its annual "Cybercities" study released Tuesday, AeA said Central Indiana's growth rate of tech jobs was 8.6 percent -- the fourth fastest in the nation. Indianapolis is a world class city that's easy to get to and easy to get around in. We have great culture as well as major sports and events. From an entrepreneurs standpoint we have several aspects that give us a huge advantage. Low Costs. Our current offices are right in the heart of downtown in a great building...at $12 per sq foot. Overall costs here are 60% of what our peers pay on either coast or in Texas. This obviously helps entrepreneurship because it requires significantly less capital. If you look at the ExactTarget S1 you will see less that $6mm total capital invested. Supportive Angel Community. Not only VC's but lots of private investors both in formal groups and informal networks. Because there have been so many successful outcomes, Indianapolis is overrun with VC's from both coasts looking for new deals. Human Resources: Austin has UT. Indianapolis is surrounded by Indiana U, Perdue U, Ball State and IUPUI all less than an hour away with student populations of over 20,000. This is a tremendous resource for both ideas as well as young, inexpensive & motivated employees. Additionally there are many great private institutions including DePaw, Butler and Rose Hulman Institute. Housing & Transportation. Indianapolis is the crossroads of America....within a days drive of 75% of the US population. as a result, we have a great highway system with no topograpic barriers. What this means is a high quality of life since your commutes are easy, housing is inexpensive. I live on a country club in a 5 bedroom house and big yard that is probably worth about $450k if I'm lucky. I could go on an on....but Indianapolis should absolutely make your list. Chris Baggott CEO Compendium Blogware www.compendiumblogware.com I’ve got to put my vote in for Indianapolis!

Personally I’ve started three companies here including ExactTarget which has filed it’s S1 and Compendium Blogware.

In its annual “Cybercities” study released Tuesday, AeA said Central Indiana’s growth rate of tech jobs was 8.6 percent — the fourth fastest in the nation.

Indianapolis is a world class city that’s easy to get to and easy to get around in. We have great culture as well as major sports and events.

From an entrepreneurs standpoint we have several aspects that give us a huge advantage.

Low Costs. Our current offices are right in the heart of downtown in a great building…at $12 per sq foot. Overall costs here are 60% of what our peers pay on either coast or in Texas. This obviously helps entrepreneurship because it requires significantly less capital. If you look at the ExactTarget S1 you will see less that $6mm total capital invested.

Supportive Angel Community. Not only VC’s but lots of private investors both in formal groups and informal networks. Because there have been so many successful outcomes, Indianapolis is overrun with VC’s from both coasts looking for new deals.

Human Resources: Austin has UT. Indianapolis is surrounded by Indiana U, Perdue U, Ball State and IUPUI all less than an hour away with student populations of over 20,000. This is a tremendous resource for both ideas as well as young, inexpensive & motivated employees. Additionally there are many great private institutions including DePaw, Butler and Rose Hulman Institute.

Housing & Transportation. Indianapolis is the crossroads of America….within a days drive of 75% of the US population. as a result, we have a great highway system with no topograpic barriers. What this means is a high quality of life since your commutes are easy, housing is inexpensive. I live on a country club in a 5 bedroom house and big yard that is probably worth about $450k if I’m lucky.

I could go on an on….but Indianapolis should absolutely make your list.

Chris Baggott
CEO
Compendium Blogware
http://www.compendiumblogware.com

]]> By: Vishal Wadher http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/comment-page-1/#comment-399841 Vishal Wadher Mon, 30 Jun 2008 23:59:39 +0000 http://www.ducttapemarketing.com/blog/2008/06/30/the-best-city-for-entrepreneurs/#comment-399841 I would say, Arizona/ Nevada/New York are probably good in my eyes. Arizona and Nevada are great cities as far as taxes and start up costs for businesses. But cities like New York and Portland are probably great in terms of “life” and the “vibe” as you put it. Mind you, depending on what your “seed investment” is…. You may not be lucky enough to be able to consider the “vibe” and you might just have to settle for the cities where your seed money can make your start up last a while. The biggest issues with start ups are that they deplete their investment money before they even had a chance to “lift off”. If you can stay in business long enough to get over the initial 2 year hump….you most likely will make it. But if you are in a city where costs are too high….and if you don’t have a regular client base right away….you’re going to have to close shop soon. I feel Atmosphere Solutions would NOT have lasted in New York with the initial investment we had to work with. Even though there would have been a lot of opportunities in NYC and it’s a great city for a business to thrive in. I would say, Arizona/ Nevada/New York are probably good in my eyes.

Arizona and Nevada are great cities as far as taxes and start up costs for businesses. But cities like New York and Portland are probably great in terms of “life” and the “vibe” as you put it. Mind you, depending on what your “seed investment” is…. You may not be lucky enough to be able to consider the “vibe” and you might just have to settle for the cities where your seed money can make your start up last a while.

The biggest issues with start ups are that they deplete their investment money before they even had a chance to “lift off”. If you can stay in business long enough to get over the initial 2 year hump….you most likely will make it. But if you are in a city where costs are too high….and if you don’t have a regular client base right away….you’re going to have to close shop soon.

I feel Atmosphere Solutions would NOT have lasted in New York with the initial investment we had to work with. Even though there would have been a lot of opportunities in NYC and it’s a great city for a business to thrive in.

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