Leveraging KC’s resources: How the right people at the right time can unlock a startup’s potential
January 27, 2024 | Taylor Wilmore
The level of collaboration seen in Kansas City’s entrepreneurial ecosystem is unmatched by peer communities, said Jill Meyer, noting it’s not a phenomenon that developed by accident. And it takes transparency and trust, she added.
Jill Meyer, UMKC’s Innovation Center’s Technology Venture Studio, speaks to a crowd gathered for a “Resources for Your Startup” panel at Startland News’ Kansas City Startups to Watch in 2024 seminar and reception event; photo by Taylor Wilmore, Startland News
“There is a lot of work that resource partners do to make sure that our companies and our founders have that connection and collaboration,” Meyer, senior director of UMKC’s Innovation Center’s Technology Venture Studio, told a crowd gathered at UMKC’s Bloch Executive Hall for Startland News’ Kansas City Startups to Watch in 2024 seminar and reception.
“They do it very openly and with a sense that ‘I might not be able to help you but we will get you to that person,’” she added.
Meyer was joined on the “Resources to Grow Your Startup in 2024” panel by Michael Carmona, senior director of KCSourceLink, and Doug Adams, Leawood-based executive director and market manager for Morgan Stanley. The trio discussed the realities of what supporting startups looks like, recognizing that it takes consistent effort and self-awareness regarding where they might fall short.
“You can’t really grow your business or grow your team if they don’t think that you care about them,” said Adams. “That’s just as important as whatever it is that you’re selling or trying to market.”
Addressing the growth mindset required to see goals come to fruition, the panelists shared from their experience the best ways to actually get their startup needs met: through transparent communication, and strategic long-term planning.
Other panel sessions Friday at the Startland News event included discussions from the 10 Kansas City Startups to Watch, marketing, and funding, presented with support from the Ewing Marion Kauffman Foundation and sponsors Morgan Stanley, UMKC’s Bloch School, Messenger Coffee Company, and Spark Kansas City.
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Growth mindset leads to elevation
Growth can come in many different forms, the panelists detailed. One that’s often the go-to is revenue, but another that’s arguably as important and not as easily tracked is the evolution of the entrepreneur’s mindset from self to team, they said.
“You’re starting your own company and a lot of times it’s about you, but then eventually you’ll look up and have 10 people on your team, and nine of those people are dependent upon you to help with their livelihood,” said Adams.
“In fact, a lot of times we say the difference from being a small business owner to being a CEO is that mindset shift, for a business that’s ready and in the growth stage,” added Meyer.
Acknowledging that the shift in focus can be difficult, Adams urged entrepreneurs to reach out and form relationships with companies like Morgan Stanley or others for guidance on how to get to their end goals with an effective team.
Carmona also pointed out that growth is not only about achieving specific financial milestones but also acknowledging and appreciating the continuous advancement of the entrepreneur’s startup.
“It’s really just about being able to look at where you’re at today and seeing how you made progress from a day before, a year before, or years before,” he said.
Michael Carmona, KCSourceLink, center, speaks alongside Jill Meyer, UMKC’s Innovation Center’s Technology Venture Studio, Doug Adams, Morgan Stanley, and moderator Miranda Schultz, The Porter House KC, during a “Resources for Your Startup” panel at Startland News’ Kansas City Startups to Watch in 2024 seminar and reception event; photo by Taylor Wilmore, Startland News
Be one step ahead with strategic planning
Through early strategic planning, Carmona said, entrepreneurs should anticipate challenges and act on their long-term implications, such as pursuing contracts or funding from the start to prevent issues later on caused by waiting too long.
“So many people in the early stages go back and realize that they didn’t have people to tell them to plan for what could happen,” he said. “That’s really a big part of why we make sure that folks are connected to the right people at the right time.”
With multiple local organizations that help people get to the next stage, Carmona emphasized the need for entrepreneurs to explore their options to see what’s best for them.
“That’s what’s exciting about Kansas City, there’s different eligibility criteria. There’s somebody who is at the million-dollar stage and needs support for growth, or somebody who is at the $100,000 stage. There’s programs for everybody,” said Carmona.
Meyer added that future planning can also look like forming a connection with someone who can aid in efforts like creating a pilot to be better-prepared for when it’s time to seek funding.
“You’re going to need that to show potential investors, ‘Here’s what we’ve done, here’s the traction here, we’re sure it works,’” she said. “Don’t overlook that step.”
Michael Carmona, KCSourceLink, center, laughs alongside Jill Meyer, UMKC’s Innovation Center’s Technology Venture Studio, Doug Adams, Morgan Stanley, and moderator Miranda Schultz, The Porter House KC, during a “Resources for Your Startup” panel at Startland News’ Kansas City Startups to Watch in 2024 seminar and reception event; photo by Taylor Wilmore, Startland News
Communicate needs early on
At its core, resource partners connect people to the right organizations and individuals, Carmona said, noting that the effectiveness of the work they do depends on how well they understand the entrepreneur’s specific needs, pointing out that pride and fear often hinder communication.
“The reality is that if we’re not transparent and open about what it is that we’re aiming for, or what we need, then the people that are trying to help and connect us to what gets us to where we want to be, can’t do that,” said Carmona.
Carmona suggests that sharing what you need, even if assistance isn’t immediately possible, allows for the doors to open for future connections and opportunities.
“You have to realize that there are a ton of people who are out here to help you all,” he said. “It’s just about being able to be more open about what it is that you’re looking for.”
Check out a photo gallery below from Startland News’ Kansas City Startups to Watch in 2024 seminar and reception.
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