Chicago hangs onto one of its lesser-used monikers-- “The City That Works”-- despite a pothole season that stretches well past July. I’ve always wanted to shout that out to the five guys leaning on their shovels as the one guy filled the craters on my street in Lakeview.
Right now, it is us-- the entrepreneurial tech talent of Chicago-- who are day-by-day redefining what it will mean to be The City That Works. As Will Flanagan recently pointed out (ranted?!), we have a pragmatic “get-it-done” mindset. This mindset is part of the secret sauce to scale-up Chicago startups into high-growth global enterprises in tech and innovation.
So, while our VC partners ponder the proper flow and structure of capital, and public policy continues to cultivate more incubators and STEM graduates than ever before, let’s do our part right here and now. Here are four proven actions we in the tech startup sector can take to scale-up and sustain the global growth of Chicago’s tech economy:
Make it a bigger, yet tighter network of friends. As our ecosystem expands, we need to do what is natural in Chicago’s startup community – make real friends. Reach down, up and across to genuinely help each other. Meet-ups for beer are great, working meet-ups are even better. Innovation is an inherently irrational, and social, act-- made powerful with the input of many fresh perspectives. Follow the leads of these Chicago entrepreneurs and pioneers who know what it means to pay it forward. Learn how Chicago tech as a whole will thrive.
Stay super-close to customers. Here’s another natural Chi-town strength: so many of our startups have grown from paying customers from day one. Your customers have really insightful and practical ideas to grow your business. They want to help you – and they may even be willing to help your friend’s company. They like beer, too.
Know the numbers. This one’s for the newer hires: make sure you understand where your company is on the road to profitability. Know the metrics that matter. Ask your CEO to really be transparent about your company's performance, where you need to be, and the top three priorities for getting there. Work with your CEO and your team to figure out actions that contribute to getting your numbers in the black, whether this is a near- or mid-term goal for your company.
Look past the resumes. This one’s for the folks in charge of finding amazing talent-- the kind of talent that you want to cultivate and grow. Hire for attitude and cultural fit first; hire for technical skills second. Too often we think we are speeding the hiring process by screening first on technical skills, but the truth is that culture fit is the better investment. Poor company culture will repel future talent, so prioritize it in the short-term to see it propel long-term growth.
Emanuel wants to double the size of Chicago’s tech economy in 10 years and add 40,000 new jobs. But can’t we accomplish that (a lot) faster than 10 years? I think we can. By making a conscious effort to work together-- with our team, colleagues, and customers-- and by nurturing the right kind of talent, I think 5 years is all we need. Let’s make The City That Works iconic for growing its own distinctly valuable tech innovation hub, both by growing jobs and profits.
Art credit: Joe Mills via joemills.com
Lisa Schumacher is Startup Institute Chicago’s new program director, helping individuals to develop the skills, network, and mindset to find jobs they love in Chicago’s high-growth sector.
