Thursday night, a panel of entrepreneurs out of the TIC spoke to East Lansing Emerging Leaders program. The panel, an overview of the Startup Scene in East Lansing, consisted of three entrepreneurs running businesses out of the Technological Innovation Center (one of the 7 places in Lansing to help your business startup). Rick DeShon of Strametrics, Jesse Flores of Cognite Labs and StartupLansing, and Usman Majeed of Tech Twurl, gave their thoughts on the entrepreneur life, East Lansing and more.
The panel was moderated by Quin Stinchfield, Business Incubation Manager at LEAP.
A Bit About The Companies:
The companies each provide different services in different industries to different kinds of customers.
Strametrics:
Strametrics, founded by Rick and his wife Karen, is a consulting company that works to repair the “people systems” within and organization in order to keep that company running smoothly. They also assist companies that just want to make their organizations better through their people.
Cognite Labs/Startup Lansing
Cognite Labs wants to help startups launch. They do this by harnessing their power for growth through software development and website design.
StartupLansing is a website meant to educate, connect, promote and celebrate Startups in the Lansing area.
Tech Twurl
Tech Twurl lets you sell your phone in three easy steps; get an offer, ship for free, and get paid. They also offer an app that protects your phone by showing you the lowest cost repairs in the area.
Why East Lansing?
While Strametrics could do business anywhere and works with people across the country, Rick was bothered when he heard Michigan was the only state to lose population. It may be easier to do it somewhere else, but he is passionate about Michigan. It’s also great having access to so many bright kids at MSU and he wants to give them a reason to stay in the area. “It’s a great resource and we are tapping into it.”
The TIC has also offered him the answers and resources he needs to run his business.
Usman joined the Hatch and the TIC about a year ago and takes advantage of the many resources, like funding, the organizations offer. His team just recently journeyed to SXSW where they were finalists in a student startup competition and the Hatch covered their expenses to get there. “It’s great to have everything he needs so close.”
@usgoose and @TechTwurl were 1 of only 8 companies in the country to present @sxsw @EastLansingTIC
— Startup Lansing (@StartupLansing) April 2, 2015
Jesse, when he moved here from Atlanta, saw a potential for East Lansing and Lansing to have the power of density that Atlanta has in their Startup community. You need that density for a vibrant community that interacts with each other. This region has that potential with the Hatch, The TIC, Spartan Innovations, the university, all here in East Lansing. “It has all the things the community needs to explode.”
@jflores1c says tech density and vibrant tech companies are needed to build a startup community @EastLansingTIC — Startup Lansing (@StartupLansing) April 2, 2015
What is your company’s biggest challenge?
Rick’s challenge is a great challenge. They have a substantial revenue stream, but they are struggling with what to do with that money. “It’s a great problem to have.” They are also at capacity and are looking to expand and looking for help in order to do that.
Strametrics is growing faster than Rick ever anticipated and he’s learning how to manage that @EastLansingTIC — Startup Lansing (@StartupLansing) April 2, 2015
Along with revenue, the company is struggling with identity. Rick has come to see that sometimes you have to turn money away if it doesn’t coincide with who you want to be.
Tech Twurl’s biggest challenge is definitely cash flow. They are always seeking different avenues for funding. They are also struggling with finding talent, specifically students since they can’t afford to employ full-time people. Along those same lines, they are working on how to scale up properly.
Jesse, while he typically works with a good cash flow, struggles with how to manage revenue that can be lumpy. He would like to be able to create a predictable, manageable pipeline. He and his team are actually coming up with a product that will not only help his own pipeline problems, but others as well. He also struggles with making sure his team is “eating their own dog food.” Are they doing the things they can promise to deliver?
How does running a business affect your personal life?
Personal lives? What personal lives? #entrepreneurship @EastLansingTIC @jflores1c @usgoose
— Startup Lansing (@StartupLansing) April 2, 2015
“It’s always a struggle,” says Rick. He’s always been a bit of a workaholic so it’s easier for him to keep working than it is to take a break. But he’s working to find that balance.
Rick works very hard to stop and recognize when not to work and be present in the moment #entrepreneurship @EastLansingTIC — Startup Lansing (@StartupLansing) April 2, 2015
Jesse says he’s not great at it.
@jflores1c has gotten better at managing a personal life and finding a balance but it’s still a struggle #entrepreneurship @EastLansingTIC
— Startup Lansing (@StartupLansing) April 2, 2015
He adds that there are multiple layers to that balance. One of those layers is making sure you do the things you need first thing in the morning. He also strives to make sure he’s home before his daughter goes to bed even if he is working after.
Are you a workaholic if you love working? @jflores1c #entrepreneurship @EastLansingTIC — Startup Lansing (@StartupLansing) April 2, 2015
Usman’s life is a little easier to balance since he’s a student. “I just need to make sure I get good grades and keep my parents happy…” Though, he did get a surprise when he realized being your own boss wasn’t as simple as he thought it was.
@usgoose thought it would be easier to just take days off and go on vacation than it actually is @EastLansingTIC @TechTwurl
— Startup Lansing (@StartupLansing) April 2, 2015
But, he also agrees that it really doesn’t seem like work if you are passionate about it.
Can you grow in Lansing?
@jflores1c says if you do it right, you can build a business anywhere #lovelansing #Michigan @EastLansingTIC — Startup Lansing (@StartupLansing) April 3, 2015
Despite the excuses many people give about not starting businesses in Lansing, with the resources offered, there’s no reason people can’t startup and stay in the area.
Strametrics can stay in the area and be where they want to be only if they can use the internet to make a product. If they can’t, they have to go somewhere there are more companies.
Most of the space in #eastlansing is spoken for and pretty well filled, Rick wants to stay but wonders where they would go @EastLansingTIC
— Startup Lansing (@StartupLansing) April 3, 2015
Jesse is attracted to the region because of the low-cost of living, “It makes it really attractive to build something here.” Many other companies are realizing this as well. But, on the other side, staying in Michigan means struggling to find specialist talent, for him and many others.
@jflores1c needs gritty, hacker type software developers to make @CogniteLabs work @EastLansingTIC #entrepreneurship — Startup Lansing (@StartupLansing) April 3, 2015
But, many are working to solve that problem. TechTuesday is one way Jesse and others are trying to close the talent gap. Meetups, StartupGrind and an upcoming Code School are all sponsored by Jesse and his team simply because he’s working to find talent.
Usman says that part of this problem is that in the local school and at MSU, many of the students are geared toward the corporate tracks and aren’t trained in the new features like Ruby on Rails and JavaScript.
Until schools decide to change what they teach, it’s going to be hard to plug the gap of talent @usgoose @TechTwurl @EastLansingTIC
— Startup Lansing (@StartupLansing) April 3, 2015
But there are organizations in Lansing, like The Hatch and The TIC, working to help with that gap and to get individuals the training they need and feed their interests.
Students out of the @IdeaHatch are being sought out to help solve real problems @EastLansingTIC — Startup Lansing (@StartupLansing) April 3, 2015
Both Jesse and Usman mentioned how much growth they have witnessed in the Hatch and the area in just the last year because of these resources.
@jflores1c has been surprised and blown away by the #startup community in #EastLansing @EastLansingTIC @IdeaHatch @CogniteLabs
— Startup Lansing (@StartupLansing) April 3, 2015
What advice do you have for other entrepreneurs?
@usgoose says to start a #startup with a team, not alone @TechTwurl @EastLansingTIC — Startup Lansing (@StartupLansing) April 3, 2015
Entrepreneurship is impossible to do on your own @jflores1c @EastLansingTIC
— Startup Lansing (@StartupLansing) April 3, 2015
“Entrepreneurship is not for everyone. It’s an emotional roller coaster.” Rick, Strametrics #startuplife #entrepreneurship @EastLansingTIC — Startup Lansing (@StartupLansing) April 3, 2015
And, of course, the perks of starting your own business?
“What fun is it owning your own business if you can’t have a bar in your office?” @jflores1c @CogniteLabs @EastLansingTIC #startuplife
— Startup Lansing (@StartupLansing) April 3, 2015
