Why I Love Detroit

The economy has affected all of us, and Detroit, which has been hit harder than most, has been working on the solution harder than most. They’re fighting back by supporting entrepreneurship.

This is entrepreneurship in a nutshell: You identify a need; you create a solution; and then you either make money – or you start over. Henry Ford said, “Failure is simply the opportunity to begin again, this time more intelligently.”  I think I got a little more intelligent with each of my failures.  At least I stopped doing what didn’t work.   And so has Detroit.

Venture capital research says that 60% of the blame for investment failures lies not in the business plan or the IP or the strategy or even the economy.  It lies in people’s failure to work together effectively.

Business is a team sport.  And Detroit is going to be playing in the majors because they’ve come together to build Tech Town, the ballpark for entrepreneurial farm teams – the ones that are destined to be the players of the future.  They’ll put Detroit back on the cover of Time, but this time instead of the ‘tragedy’ of Detroit, it will be about triumph.

I just spent three days at ‘FastTrac to the Future.’  I met and spoke with countless people, sharing their visions and dreams – their hopes for their businesses and for a better Detroit.  And quietly in the background, men and women in black t-shirts, working with dedication and passion to make the event a success; to fulfill their vision of an economic renaissance for a city that, for some, is not their hometown – or even in their native country.   The exhibit area housed people from the partner organizations that fund and inspire, support and house, train and develop fledgling enterprises.  The event was infused with the generosity of spirit of hundreds of people ready and willing to help their fellow entrepreneur with an idea, a lead, a word of encouragement.

One thing these budding and growing entrepreneurs will need is the technology to help them form, grow, and develop the kind of cohesive teams that create their own future, and I want to help. It’s easy to love people who can use what you have to offer; who understand that the power of our human infrastructure is forged not just in our independence, but also in our interdependencies; and who welcome you to be part of their movement.

Henry Ford said, “What’s right about America is that although we have a mess of problems, we have great capacity – intellect and resources – to do something about them.”

Detroit has the intellect, resources, and, most of all, people with the spirit of entrepreneurship-in-progress teaming together to make it happen.

I love it.