Ep 11: Scott Fox on Building a Diverse Startup Community in Orange County
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In this episode we discuss what it was like to raise money just before the dot bomb and what it’s like today; how to get more entrepreneurs capable to launch, build and grow their startup business; and how the Scott founded the OC Startup Council to help startups. We talk about how to build an Orange County startup culture in, where people are excited to help startups.
Quotes
- Popular perception lags media coverage, and the media coverage lags reality\
- Raising money was never easy. It’s always been an insider’s game. The media has simplified it; the history books have simplified it. And the media loves – just like they like lottery winners.
- It’s a benefit to startups to have diversity of opinions and education, background and culture.
- Diversity isn’t diversity just for diversity’s sake – its drives the bottom line, provides additional creativity, additional horsepower and that makes things better.
- New entrepreneurs always start with how do I get money – the investor wants to know do I trust you to deliver? Do I believe you can do this? And that is hard to teach.
- The innovation economy is here. Where do we think innovation going to come from? From a startup.
- The more we share stories [about entrepreneurship] the more it normalizes success and failure. If your business fails, you’ll be okay. You will always have another chance “at bat.”
- Having a new idea isn’t wrong but being too early with the new idea is wrong.
About the Guest:
Scott Fox, CEO of the Startup Council, has founded, helped build, or invested in hundreds of startup ventures of all sizes. As a serial entrepreneur, former investment banker, and angel investor, his diverse expertise forms the basis of his 3 best-selling books about Internet entrepreneurship, which have been translated into many languages worldwide. As a startup advisor and investor today he focuses mostly on early stage software companies with high growth potential. He has invested in 20+ companies and is a Limited Partner in 3 seed stage venture funds. An advocate for early stage entrepreneurs and startup ecosystems, Scott serves as the CEO of the Startup Council (http://StartupCouncil.org), a community service group promoting inclusive access to technology entrepreneurship. He’s a graduate of the University of Michigan and Stanford Law School, a popular radio/podcast guest and expert speaker worldwide, and the host of monthly MasterMinds Startup Accelerator Workshops for startup founders at http://MasterMindsWorkshops.com.
Personal Links
About the Host:
Philip Topham is The Savvy Founder. Philip has an inquisitive mind and passion for ideas. He’s impatient to see tomorrow’s future today. He focuses on helping technical founders unlock their pragmatic dreamer and develop their business skills and social capital with The Savvy Founder FaST framework. With more than 25 years across startups and corporate roles, Philip has been everything from janitor to the Founder and Chief Everything Office.
Philip, can be found camping, hiking, or playing billiards with friends; and he loves a good ‘international’ pot luck.
Words of Wisdom
- Ideas are worthless; revenues are priceless; surround yourself with smart people.
- Life is a journey – mole hills or mountains? it’s your choice.
Connect with Philip at:
E-mail – philip@thesavvyfounder.com
Linkedin – https://www.linkedin.com/in/philiptopham
Twitter – https://www.twitter.com/thesavvyfounder
Instagram – https://www.instagram.com/thesavvyfounder
Facebook – https://www.facebook.com/thesavvyfounder
Website – https://philiptopham.com
Clubhouse – @thesavvyfounder
10 Most Fixable Pitch Deck Mistakes – https://www.thesavvyfounder.com
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