Where were you born and raised, and what was your first job?
I was born and raised in Springfield, and technically my first job was when I was 9 years old, emptying garbage cans at the family business. My first job after college was as an accountant at Boulder Medical Center in Boulder, Colo.
How did you become interested in your current career field?
In late 1999, I was in graduate school getting ready to take my Medical College Admissions Test, and I put together a business plan as part of an MBA class I was taking. One of my professors suggested that I enter the plan in a business plan competition. As any good business student would do, I did the math on the probability of winning the $25,000 prize money and then delaying medical school for one more year.
I won the business plan competition, got my internet-based company funded, launched it, sold it and then started two more after that. After selling my third one I started investing in startup companies and have been around technology companies ever since.
So would you say that you received an accidental introduction to your career?
I was initially attracted to helping people through medicine, so I thought I could be an average doctor at best, or I could have more impact in the business field by helping to create companies, working with entrepreneurs and investing in startups.
How receptive is the traditionally conservative community of Springfield to new ideas and ways of doing business?
I've been lucky to live in many more progressive areas than Springfield, areas that are early adopters of technology and community development. When I first came back to Springfield I noticed an inhibition, a lack of risk-taking. When the dean of the college business school asked me to teach an entrepreneurship class, I recognized that the students here were much different than other students I had been around – their ideas may have been constrained by the culture they grew up in.
That's why we decided to focus on high school students, to get them started before they get to college and open their minds to opportunities in and beyond Springfield. So we launched the incubator to help them celebrate new ideas, go to a place with like-minded people and help them get the resources to launch a business. It may take generations, but I think our community will greatly benefit from these efforts.
It is a very competitive market for venture capital dollars, but there are all kinds of opportunities here in Springfield to help people advance their companies. There's never been a bigger opportunity than right now. This is the next big wave, especially with AI, and there are a lot of resources out there to start a business. If you have the talent and the ingenuity, we've created a network here in Springfield to connect innovators with other talented folks.
What state of mind and skill set do successful innovators and entrepreneurs need?
Curiosity and empowerment. You need to be emboldened and have the drive to chase that curiosity. Also, the ability to network with resources and people. Curiosity leads to collaborations with other people that may be doing similar things or helping to solve similar problems.
How do you decide which startups you wish to support?
I support the ones that provide some intrinsic value that align with my social missions. Right now, it's AI, alternative energy, sustainable farming methods, things that have a material impact on society.
It seems like there's something new and improved being announced every day. Is there no end to the possibilities that are open for those who want to start something new?
I haven't seen an end to it yet, and that's what is amazing about it. I don't understand why people don't chase new ideas more. Thank goodness not everyone's like me, but that's the beauty of it, there's a lot of curiosity matched with opportunity out there. If you can get the resources to put you on top, you can achieve a ton of amazing things.
Is it wise to have a fallback career option, a safety net, if you're just starting out as an entrepreneur or innovator?
The number 83 I know well. Eighty-three percent of entrepreneurs start companies while they are already in a different career, which I think is wise. Younger folks that don't have kids or mortgage obligations can take on those risks. But if you have other people relying on you, then yes, I recommend another source of income and a safety net, if you will.
What advice would you give to young people today who are trying to decide if they should go to work for somebody else or venture out on their own?
Test it. Venture out on your own while you're working for someone else. See how it feels. Be sure to create a network of resources to support you. If you take that leap, if you want to catch your own fish, to experience the fruits and pitfalls of your own labor, I absolutely encourage you to do that.
Emotionally, are you risk-averse or risk-accepting? An overwhelming number of new businesses fail, so get help. When there are resources available to help mitigate the risk, go for them.
What might people be surprised to learn about you?
I have two amazing kids, and I moved back to Springfield so I could raise them near my family. They have been my most rewarding experience in life.