We're getting the band back together.
At Capital Connections last week, I saw Anne Simons of brandeo. I haven't seen her in a long while and we talked about how we both missed the Gang of 5 meetings so we decided to get it rolling again.
What's Gang of 5? The FAQ is below but I describe it as open-source entrepreneurship – a group of people, no more than 5, who share their successes, failures, networks, knowledge, and opinions. The Gang of 5 had a big impact on me as I started Blue Violin. For me the most important are that the gang supported what I was doing (I love my wife but at times she thinks I'm a bit daft with this "entrepreneur" thing) and gave me a sense of accountability. It forced me to start thinking about Blue Violin as a business as opposed to a programming project.
The gang itself had a good mix of marketing, sales, and overall business knowledge and that's one of the keys to forming a group – make sure you have a good mix of talent across the spectrum. I'll be starting a Go5 in the north Atlanta area in the next week and am encouraging others to form groups in their area – Buckhead, Midtown, wherever. If you have any questions or would like help in starting your own group, please feel free to contact me.
frequently asked questions
Q: In layman's terms, what is the "gang of five"?
A: Gang of 5, or Go5, is a group of entrepreneurs that get together to discuss the challenges of starting a business. Our goal is to offer constructive advice for our members and assist them by offering an environment where ideas can be exchanged in confidence. By building a network of local entrepreneurs, we can encourage and support entrepreneurial activity.
In short, we are a group of entrepreneurs helping each other - it's that simple.
Q: What will it do for me, or help me achieve?
A: Go5 gives you honest feedback, advice, and moral support. We can also help make introductions to other entrepreneurs or business people. Just as important is that by helping others you're helping yourself. When you're listening to a group member discuss his/her problems or pitching his/her business, you're going to get help for your business. It's a feedback loop of the best kind.
Q: How do I actually start my own "gang of five"?
A: You probably know some entrepreneurs through other networking events. Grab a couple and meet at a local coffee house or restaurant and discuss your ideas. Once you get going, reach out to other entrepreneurs and invite them. We can help you get started with our meeting template and advising you as your group grows.
Q: Is one "gang of 5" related to others?
A: The Go5 is a loose confederation of gangs that are united in purpose but may differ in how they are run. All that we ask is that you encourage entrepreneurial activity in your area, are accepting of new members, and welcome Go5 members from another group.
Q: Who runs the "gang of 5"?
A: While it's helpful to have someone lead the group, you and your group run the gang. If your Go5 isn't achieving the results you think it should, feel free to retool your meeting template or try something new. There isn't a "right" or "wrong" way to run the gang.
Q: What does it cost?
A: Money is a precious resource for the bootstrapping entrepreneur. You might have to spring for the occasional cup of coffee but that's it.
Q: Where do the "gangs" meet?
A: Your local coffee shop, restaurant, neighborhood park, a member's dining room - anywhere you want.
Q: What if I can't attend the weekly meetings due to a conflict (like my day job)?
A: Try to stay in touch with your gang as much as you can. While it's important to make occasional appearances at your Go5 meeting, you can offer your assistance through phone or email. You can also start a Go5 group that meets at a time that's convenient for those who are holding down a day job while they're getting started.
Q: What are the thoughts or recommendations on having more than one person from the same startup in the same "gang"?
A: That's fine but the startup only gets one slot for an update or roundtable discussion to prevent a meeting from being monopolized. It's also worth having each member join a different gang, if possible.
it was great to see you too, josh. i look forward to staying in touch.
Posted by: Anne Simons | February 14, 2008 at 01:00 PM