By Chris Pearson, Manager, Partnerships | IBM Digital Business Group
I’ve spent my fair share of time mentoring startups, and when we meet for the first time, I always begin by asking the founders a seemingly simple question: “Why are you doing this?” Answers to this question come in different forms, typically to the tune of “We’ve noticed a gap in ‘x’ market that we can expose,” or “We have an innovative product that can revolutionize the way ‘y’ business is done,” and of course the ever so original “We’re the Uber for ‘z.’” It’s always great to get a picture of the product these founders are developing and to witness their excitement about the potential impact it can make, but none of those really answer the question I’ve asked. They’re all telling me the what and how but not necessarily the why. The reason I specifically ask “Why?” is that this question requires the founders to defines their purpose—and I believe that understanding your purpose is the foundation on which companies can truly thrive.
“He who has a why to live can bear almost any how.” These wise words, written over a century ago by Friedrich Nietzsche, are just as true today as they were then. Circumstances change, markets shift, new innovations arise, all of which are uncontrollable factors that can impact what and how, but if you have firmly established your why, there will be very little you cannot overcome.
Determine Your “Why”
Simple questions don’t always yield simple answers. The purpose behind our actions, let alone our business, isn’t necessarily easy to define and oftentimes takes a bit of digging, but once you have it, the decision making process becomes significantly easier across the board. As a founder, you have to account for hundreds of decisions on a daily basis, each of which can potentially take you any one of a hundred directions. The benefit to understanding your purpose is that it acts as a compass in your decision making. Whatever answer or course of action aligns most closely with the central purpose you’ve identified is the decision you make, period.
For me personally, I decided years ago that my purpose was to help foster growth across the startup ecosystem. I’m not a founder myself, but I have recognized a pattern across history: civilizations tend to thrive—and reach their pinnacle—when they are focused on innovation. Creating solutions that make life and business more efficient and effective is a central theme in growing societies, and I believe that is just as true today as it’s ever been.
I developed this mission shortly after joining 500 Startups in a business development role after many years in corporate finance, and it was this idea that opened my eyes to a missing component in the startup ecosystem. I realized that enterprise companies play a critical role in the development and growth of startups and that the development of startups plays into the long-term success of enterprise companies. For the sake of time, I won’t dive deeply into the subject. Here is a reason so few large corporate entities survive, or at least maintain, a high level of success beyond three generations—and it revolves around their inability to accept and buy-in to innovation.
Partners for Innovation
It was this revelation that led me to take a role at SoftLayer, which ultimately fully migrated into IBM, where I’ve worked to become a key figure in the development and execution of our startup program Startup With IBM. Our objective is to manage a program that not only provides startups access to our technology through credits and more importantly positions those companies that work with us to reach our global network of clients and partners in order to help them find customers and generate revenue. We want to leverage the strength of what IBM is today to create meaningful value for the growth and development of these startups who will ultimately determine what IBM becomes in the future. If we can serve these startups well, helping them grow and scale on our cloud, as more than just as technology providers but also as a business partner, then we have the opportunity to become a core piece in the success of the next generation of these companies. By design, our program is only successful when startups are successful first. The goal is to create a structure that serves and supports founders by leveraging IBM’s core competencies to give them the tools and resources they need to do what they do best: innovate.
It’s yet to be seen whether or not our complete vision will come to fruition in the end. What we do know is the why behind what we’re doing, and every decision we make for this program will be to serve that ultimate purpose as we go forward.
Learn more about how Techstars partners with corporations to promote innovation—within corporations and for startups.