Over the past year, I’ve become more intentional about helping rising entrepreneurs, mostly in Atlanta. Without the wisdom of seasoned entrepreneurs and the camaraderie of peers, I would’ve failed. So, I’ve been doing more to help others by mentoring, making introductions, etc. After all, I was in their shoes not long ago.
When I started CCAW, there weren’t many resources available to help entrepreneurs in Atlanta, or in the southeast for that matter. Because of the financial crisis the world was in survival mode, so that makes sense. Today there are in-person and virtual accelerators . . . meetups . . . coworking spaces . . . start-up labs. Entrepreneurs don’t know what they don’t know, but they do know they need help. These resources bridge gaps. They do a great job of introducing startup concepts, creating peer groups, and helping entrepreneurs establish relationships with knowledgeable people. Without a doubt, they are a valuable part of the Atlanta ecosystem.
As I’ve worked with more entrepreneurs, though, I’ve noticed that there’s still a chasm. Some capable founders aren’t able to cross it and get to the next critical phase of the journey. They end up in what I call early-stage limbo. Their idea may be great, but they’re unable to acquire customers or get meaningful traction. “Thanks, but what do I do now?” I imagine them asking. They feel stymied, so they revisit the same resources in hopes of jump-starting their business. This usually doesn’t work. The next thing they know, two or three years have passed.
It seems to me that resources are lacking to help entrepreneurs acquire enough traction to transition from early stage (idea or mvp) to product–market fit in Atlanta and other southeastern cities. My thinking on this is preliminary. I’ll try to crystallize it, but I think there’s an opportunity to fill this void and help more founders successfully navigate the entrepreneurial journey.
I’d love to hear your views (good, bad, or ugly) on my observation.