give first strategy planning

Increasingly I have come to believe that investors in more successful startup ecosystems like San Francisco think differently than people in less successful ones like the ones in Cleveland. Of course, I am not the first person to think that. What may be different, however, is the way in which I believe they think differently. I think that the heart of that difference is the willingness to give first.

Give First Strategy For Investors

Like the character Trevor McKinney in the 2000 movie Pay It Forward, investors in successful startup ecosystems give freely to help founders. They think about “paying it forward” by doing good deeds for entrepreneurs in the ecosystem.

In less successful ecosystems, investors take a “what’s in it for me” attitude. Instead of paying it forward, they seek to extract maximum benefit for themselves. I think this philosophy hurts the development of startup ecosystems.

In a recent blog post, Morris Wheeler advocated a give first strategy. Rather than asking

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Source: Small Business Trends