My friend Morris Wheeler wrote a great post over the weekend titled Five Changes NEO Must Implement: A Prescription for Startup greatness. After reading the post, I realized NEO = Northeast Ohio.
The entire post is worth reading carefully, but the highlights are the five changes:
- Adopt a #givefirst not Quid Pro Quo attitude
- Adopt a Founder Friendly Philosophy
- Circulation Not Retention
- Entrepreneurs, not quasi-governmental entities or investors, must set community standards and agenda
- Investment Terms here should mirror national standard terms, except to reflect risk factors
This is true for NEO, but also true for any startup community.