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Door Number 6

If you’ve spent some time at the Hill, you may have noticed the 12 numbered rooms along the south wall of the building. These doors, while now office spaces and bathrooms, once served as study rooms that housed a myriad of researchers, authors and artists.

One such author by the name of Mr. Richardson B. Okie spent almost every day between the war years of 1938 and 1942 in study room 6. This particular study room is located on the mezzanine level, directly behind the large painting of James J. Hill on the Reading Room wall. Mr. Okie was a St. Paul-ite who took to study room 6 so well that he even came in on his wedding day.

We tracked down one of Mr. Okie’s published stories that showed up in the May 1941 edition of The Atlantic magazine, which was of course penned in study room 6. It’s an article called, “When Greek Met Greek. A Story,” which is a fictional account of whistling men recalling the tales of ancient Sparta.

The study rooms at the Hill harken back to a time when the book collection comprised of topics in every subject (with the exception of law, medicine, and fiction).  They supported the “serious researcher” that James J. Hill envisioned would be attracted to his library. While many of the original books that Mr. Okie would have poured over are now gone, we look to our Empire Builder collection on library floor “5” for our oldest titles – look for the bright green dots on the book spines to spot one.

Learn more of the story behind the Hill Center, these images and the epic building in our Cabinet of Curiosity Tour every third Thursday at 10:30AM. In this one hour experience you will go back in time, up and down catwalks, through vaults and peek in hidden nooks and crannies.  Our October tour is coming up so get your tickets early!


Written by Lindsey Dyer, Director of Library Services, James J. Hill Center. If you have more questions about the reference library our our historic collection at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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A Textbook-Swapping Platform that Could Change the World

Leah Kodner, Business Librarian from the James J. Hill Center interviews 1 Million Cup presenters each month for the Startup Showcase feature in the Pioneer Press.  Recently she connected with presenter Richard Krueger. See interview as seen in the Pioneer Press Startup Showcase on October 7, 2017.

 

According to a 2016 Bureau of Labor Statistics report, the Consumer Price Index for the cost of college textbooks increased 88 percent between January 2006 and July 2016. By comparison, the average increase for all items in that same time period was 21 percent.

Richard Krueger knew that this has been a problem for many students, and he and his partners came up with Swapzit to help solve the problem. Swapzit allows users to list the textbooks or other items they want to get rid of, along with a textbook or other item they need, and Swapzit arranges a multi-party swap, giving all users the item they want in exchange for the item they no longer need.

ENTREPRENEUR PROFILE

Name: Richard Krueger
Age: 44
City you live in: St. Paul
City of birth: St. Paul
High school attended: Archbishop Brady High School, West St. Paul
College attended: St. Mary’s University, Minneapolis

COMPANY PROFILE

Name of company: Swapzit
Website: www.swapzit.com
Business Start Date: June 1, 2012
Number of Employees: 4 founders
Number of Customers: Over 1,000

 

Q&A

Q. What led to this point?
A. Myself and the other three founders, Jake Wiatrowski, Lucas Krause and Jamie Weber, have made successful careers out of leveraging technology to automate manual processes and compiling data to gain insights and make better decisions. Most of us currently work in the Business Intelligence field.

We exist in that sweet spot between generations where we aren’t intimidated by new technology, nor do we take it for granted. We’ve seen so much innovation in our lives, from the inception of call waiting on land lines, to having access to the sum of human knowledge in the palm of your hand. We want to make a positive impact in the world, and we’ve grown up with technology being the tool to make that impact.

Q. What is your business?
A. The Swapzit business is one of identifying and retaining value. We call it “Worth Finding.” We live in a world of abundance where most people have things stored in their closets, basements and garages, and yet many of us lack the wealth to get the things we need and want. Swapzit provides a medium for people to get the maximum value possible from the stuff they have by getting them the things they actually want and need.

Swapzit is a platform which uses an advanced algorithm to identify complicated multi-party exchanges. What does that mean?

Let’s say that you’re a student that has an engineering textbook you don’t need anymore, and your next class is an art class. You could sell your textbook back to the bookstore at a 90 percent loss, and then kick in another few hundred dollars to get your art book. You could try to find a student who happens to have the textbook you want and also happens to want the textbook you have. You’ll spend days looking, and you’ll likely not succeed in finding someone.

What Swapzit does is arrange multi-party exchanges, so you send your engineering book to someone who needs it, and another person ships their art book to you. By including more than two people, sometimes up to six, Swapzit makes the likelihood of you getting your book, for just the cost of shipping, an almost certainty, and we make it extremely easy.

Q. Where do you go for help when you need it?
A. Because we’re older professionals, each of the Swapzit founders has built a professional network. We’ve leveraged our networks to formally establish an 11-person advisory board of professionals who are some of the most successful in the marketing, advertising, legal, startup, and IT worlds.

Q. What is the origin of the business?
A. Jake, Lucas, and I met while working for a startup. We routinely talked of starting our own business. Years later, Jake and I were working on the University of Minnesota campus. We’ve all heard about the triple digit percentage increases in the cost of tuition and books. Working on campus, it was impossible for us to not think about the debt these kids were incurring. Over the course of a lunch, Jake challenged me to find a solution. Later that day, Swapzit.com was registered.

Q. What problems does your business solve?

A. The Swapzit algorithm, and Swap-Management protocols, are capable of solving many problems associated with broken markets….READ FULL ARTICLE

 

You can hear from startups like this one each Wednesday, 9-10 a.m. at the James J. Hill Center during 1 Million Cups St. Paul. The James J. Hill Center is a nonprofit in downtown St. Paul that provides access to business research, educational programming and a place to work. The Hill is open to the public 10 a.m.-5 p.m., Monday-Thursday. To keep updated on what startup is presenting next or to apply to present, visit www.JJHill.org.

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Startup Tips from the Hill

In celebration of Twin Cities Startup Week 2017, the James J. Hill Center thought they would share their top 5 tips for entrepreneurs and small business owners.

  1. Find the best data and use it
    You need solid information and data to support your start-up, whether you are writing a business plan, researching venture capital or looking for business leads. A few hot tips: IBISWorld is the best database for industry information, PrivCo is your bet for hard-to-find private company information and SimplyAnalytics is perfect for demographic information that can be used to inform you on developing into new markets. You can find all of these databases at the Hill…and they are free to use.
  2. Learn from those who have traveled the same path
    At the Hill, we provide a lot of opportunities to do just that. Meet the Expert is a perfect example of a program that connects you with experts across fields of law, marketing, digital, business development and more. Find the missing link for your start-up in this speed-dating style program.
  3. Show up
    You’ve heard it before “the world is run by those who show up.” Try out a networking event or attend 1 Million Cups St. Paul. By showing up, you’ll get the double benefit of learning more about the start-up landscape in the Twin Cities, as well as an opportunity to share your dream and find those willing to support you along the way.
  4. Look for help from those who know
    Thinking about writing a business plan, starting a non-profit, or moving your product into a new market? Try our Database Deep Dive series to take the edge off the research. These free workshops occur twice a month and will offer the best tips and tricks to navigating our databases. We love to answer questions, so come ready to dig in!
  5. Remember you’re part of something bigger
    Chipping away at a new start-up can bring up a number of feelings, but isolation doesn’t have to be one of them. Consider us your new home-base for your business. The Hill is a powerful space ripe with a rich tradition of entrepreneurial wins. Come use our free Wifi, sit and work, bring your lunch or use our resources to build your dream. Do you think you are one of the “original thinkers” that James J. Hill wanted to attract to his library? We think so. Come in and give us a try.

Written by Lindsey Dyer, Director of Library Services, James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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Soft Skills Revolution: A Breath Away

Chris Carlson is an entrepreneur, actor, lawyer and the founder of NarrativePros dedicated to coaching stronger connections. Chris is setting the standard for soft skills training across the region and will be sharing his tips and tricks in our monthly blog Soft Skills Revolution. Come back the first Tuesday of each month and learn key steps to unleash your efficiency, effectiveness and maximize your input.

A Breath Away

There is so much in the world we have no control of. That’s why it’s always nice for me to remember that the greatest gift I can give myself, and others, is to just… breathe.

The practice of deep breathing is at the core of connecting with yourself in front of an audience. By the end of this post, you’ll be in on the greatest secret of successful performers and yogis alike.

The Pains in the…

By now, most of you know that I’m a speech coach. So it won’t come as a surprise if I trot out the fear of public speaking as a pain point (by the way, the latest poll has public speaking second to snakes).

In a bit I will cover the direct benefit deep breathing has on public speaking. First, I want to add some other pretty horrible pains most of us have faced in our life:

  • stress
  • anxiety
  • insomnia
  • post-traumatic stress disorder
  • depression
  • attention deficit disorder

Deep breathing has been shown to help with ALL of these.

Ancient Benefits We’re Catching Onto…

The primary benefit of deep breathing is its calming effect on the body.

People from cultures all over the world have practiced deep breathing for a millennia. How this works is only recently becoming clear to scientists according to an article in New York Times on Why Deep Breathing May Keep Us Calm. Isn’t it nice when science recognizing the benefit of something we’ve been doing all along?

The point is: breathing from your diaphragm calms your body down. And a calm body calms your mind.

The Nuts and Bolts

The key to deep breathing lies in understanding how we breathe. When I give workshops, I often ask everyone to take a deep breath in. I watch as chests heave and shoulders go up.

Many people assume since air goes into our lungs, that’s also what drives breathe. Close, but no cigar.

The diaphragm is a parachute-shaped muscle that sits under your lungs. That’s the muscle chiefly responsible for drawing in your breathe. Despite what my workshop attendees show me, it’s not the muscles around your chest.

The crazy thing is, you already “know” this. Everyone of us breathes quite efficiently when we don’t think about it. Watch someone who is extremely relaxed and you’ll see their belly move up and down more than their chest.

That’s because the diaphragm is contracting to pull in breath. The stomach and surrounding muscles get out of the way and expand outward. This is another reason most people don’t breath efficiently–people are vain. They are concerned about keeping their bellies tucked in.

Speakers, Listen Up…

Deep breathing does two important things for speakers. First, it calms them. Everyone gets nervous to some degree. Deep breathing stems the fight or flight reaction we get when we step in front of a crowd.

Second, deep breathing strengthens and supports a speaker’s voice. With adequate breath, a speaker can speak longer, louder and with greater range. You don’t have to be a performer or singer to benefit from more volume or a fuller voice.

You Can Do It!

Whether you’re a speaker or a stressed-out blog reader, you can start deep breathing now. There is nothing fancy or complicated about deep breathing. The process begins with an awareness of your breath.

  1. Put one hand on your stomach
  2. Put the other on your chest
  3. Take a deep breath in

Since you’re doing this, I will assume you are not familiar with deep breathing technique. This means that, probably, you felt your chest move as much or more than your stomach.

Here’s a cool trick I just found out while writing this: Google “deep breathing”. You should get a one-minute guided breathing exercise. I shouldn’t be too surprised since I read that Google teaches breathing to its employees.

Don’t believe me, though. Go Google it! And breathe…


Guest writer:
 Chris Carlson
Visit @NarrativePros for more information.

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Be Truly Welcoming

As we wrap up Welcoming Week (Sept. 15 -24) at the James J. Hill Center we wanted to share some of the great tools and resources we used to work towards being more inclusive, welcoming and open to all communities.

The Hill is proud to be an active member of Welcoming America.  Launched in 2009, Welcoming America has spurred a growing movement across the United States. Their award-winning social entrepreneurship model is beginning to scale globally. As a non-profit, non-partisan organization, Welcoming America supports the many diverse communities and partners who are leading efforts to make their communities more vibrant places for all.

As communities change and grow, we all need to work together to ensure that all members of our communities, both new and old, feel welcome and included.  Tools to support this idea can be so helpful.  Welcoming America has provided those tools and resources.  They connect leaders, community, government and nonprofit sectors so they can work together to provide a network of support and communication.  These connections help bring great institutions and people together to make things happen.

During welcoming week the Hill leveraged new relationships to pull together a string of great institutions: The International Institute of Minnesota, Saint Paul College, Grow MN, Amherst H. Wilder Foundation, Neighborhood Development Center and many more. Through small dinners, large panel discussions and short presentations we discussed important and relevant topics such as diversity in our entrepreneurial community, the new American workforce and the needs of minority-owned businesses.  These conversations were enlightening and informative, but did show how many more steps we need to take to continue to build and grow and truly be a welcoming Minnesota.

To do this we must all get involved, join the conversation and remain open.  Here are some great tips that we have learned and initiated here at the Hill since joining Welcoming America.

First understand your local context:

1)      Look at local economic priorities and immigrant assets
2)      Look at the data that tells your local immigrant story
3)      Engage in existing programs and partners
4)      Talk with immigrant entrepreneurs

A great first step to try each of those four items is to join us at the James J. Hill Center. You can either review data through our free databases, engage in one of our topical presentations or panels or join one of our networking sessions.

Here are four things you can do on your own to support our local immigrant entrepreneurs:

1)      Be a champion
2)      Be a connector
3)      Fill in the gaps
4)      Make it your own

These steps will help us all grow and will ensure that our community and economy continues to prosper, grow and succeed. Visit the Hill or go to Welcomingamerican.org to find out more about how you can help your community become more inviting for all.

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Strong Data for Minority Own Businesses

There is very strong data to support investment in minority owned businesses in Minnesota. Data from the 2012 Survey of Business Organizations and the Annual Survey of Entrepreneurs 2015 reveal these important insights.

1) Minority business created more jobs than the largest employer in Minnesota: The Mayo Clinic, the largest MN employer, employed 39,000 jobs, estimate of DEED. Minority owned businesses as a group in comparison, employed over 70,000 people with an annual payroll of $1.7 billion.

2) The number of minority businesses grew faster than non-minority businesses: While the number of minority businesses grew by 53 percent during the period 2007-12, the number of non-minority businesses declined by 3 percent.

3) Minority business job growth increased at a higher rate than non-minority businesses: While minority businesses achieved a 68 percent growth in jobs during the period 2007-12, non-minority business jobs grew by only 10 percent.

4) The number of minority female owned businesses grew faster than female owned businesses: While the number of minority female businesses grew by 78 percent during the period 2007-12, the number of non-minority businesses grew by 19 percent.

5) The number of minority veteran owned businesses grew faster than veteran owned businesses: While the number of minority veteran businesses grew by 130 percent during the period 2007-12, the number of veteran businesses grew by 6 percent.

6) The fastest growing industries for minority firms were mining, utilities, wholesale trade, transportation and warehousing, management and other services: The number of minority owned firms in five out of 18 industries more than doubled between 2007 and 2012.

Most of minority businesses are at the critical stage with sales between $100,000 and a million dollars. Policy attention is needed to help them grow. Our study of African immigrant entrepreneurs revealed that they needed most help with marketing and new product development apart from access to capital. Female entrepreneurs had unique needs compared to male entrepreneurs. Most of these entrepreneurs received very little help from public or non-profit organizations.

Research shows the minority economic status improves when minority entrepreneurs are successful as the wealth base of the community expands.

Bruce Corrie is Professor of Economics and Associate Vice President for University Relations at Concordia University-St. Paul.

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She Tells Rochester’s Startup Stories

Leah Kodner, Business Librarian from the James J. Hill Center interviews 1 Million Cup presenters each month for the Startup Showcase feature in the Pioneer Press.  Recently she connected with presenter Amanda Leightner. See interview as seen in the Pioneer Press Startup Showcase on September 9, 2017.

Startups need publicity. Without publicity, nobody will know that a startup exists, what it does, or why it matters.

Startups also benefit from being part of a startup community, where entrepreneurs support one another and share their expertise. These startup communities also need publicity, in order to share news about events, resources for entrepreneurs, and more.

Amanda Leightner was impressed with the Rochester startup community but saw that it lacked publicity. She started Rochester Rising both to provide publicity for Rochester entrepreneurs and to inform outsiders of all that the Rochester startup community has to offer.

ENTREPRENEUR PROFILE

Name: Amanda Leightner
Age: 32
City you live in: Rochester
City of birth: Pittsburgh, Pa.
High school attended: Highlands High School, Natrona Heights, Pa.
Colleges attended: Carnegie Mellon University, Pittsburgh, Pa.

COMPANY PROFILE

Name of company: Rochester Rising
Website: www.rochesterrising.org
Business Start Date: July 18, 2016
Number of Employees: 1

 

Q&A

Q. What led to this point?
A. I’m a trained molecular biologist with over 12 years of experience in biomedical research. Even though I spent 6 years obtaining a PhD and continued to do postdoctoral studies, I knew that a career in science was not for me. After graduating from Mayo Graduate School, I decided to do my postdoctoral research at the UMN and spend that time gaining experience to try doing something else.

I had always enjoyed writing, and thought I could explore a career as a science or medical writer, but at the time I lacked the experience. I did an internship with Life Science Alley Association, where I really got interested in the science business community in Minnesota.

Afterwards, I got in touch with a researcher I had worked with at Mayo Clinic, Jamie Sundsbak, who ran a supportive group for life science entrepreneurs in Rochester called BioAM. A few months later, I received a call from Jamie asking me to help him build up a website and online presence of BioAM and help share stories of life science innovation in Minnesota.I wrote stories about science entrepreneurship around the Minneapolis area and built up this web presence for about a year and a half, calling it Life Science Nexus.

In January 2016, I completely took over running and operating Life Science Nexus. That May, I decided to go full in on being an entrepreneur myself with the online news site. I moved from Minneapolis back to Rochester to be in closer contact with Jamie as I grew the business. After living in Rochester for only a few weeks, I realized how much the entrepreneurial community as a whole was growing, and how little anyone was talking about it.

In July, Life Science Nexus was pivoted into Rochester Rising to amplify the stories of all entrepreneurship, expanding beyond life sciences, and focusing in on the Rochester area. Now I run all aspects of the business as a solo entrepreneur.

Q. What is your business?
A. Rochester Rising is an online news site that amplifies the stories of entrepreneurship occurring in Rochester. We put out several articles and a podcast every week taking an in-depth look at Rochester startups and innovative small businesses and really take the time to understand the person behind the business and how they started it in Rochester.

Q. Where do you go for help when you need it?
A. The entrepreneurial community in Rochester is a fantastic resource. You can always find someone who is a few steps ahead of you who is willing to give advice and encouragement.

Q. What problems does your business solve?
A. Even a few years ago, there was not much of an entrepreneurial community in Rochester. While still small, we now have an entrepreneurial core that is growing every day…READ FULL ARTICLE

 

You can hear from startups like this one each Wednesday, 9-10 a.m. at the James J. Hill Center during 1 Million Cups St. Paul. The James J. Hill Center is a nonprofit in downtown St. Paul that provides access to business research, educational programming and a place to work. The Hill is open to the public 10 a.m.-5 p.m., Monday-Thursday. To keep updated on what startup is presenting next or to apply to present, visit www.JJHill.org.

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Startup Secrets and Sh#$ to Know: Graduate’s Hustle Handbook To Entrepreneurship

Aleckson Nyamwaya has his beat on the pulse of the startup world in MN.  He is an Associate at @gener8tor, contributor for @startupgrind, ambassador for @1millioncupsspl and a lover of all things tech & startups. We are pleased to have his monthly insight with our blog “Startup Secrets and Sh#$ to Know.”  Check back each month for his thoughts, observations and featured companies.

Recent Graduate’s Hustle Handbook To Entrepreneurship

Are you a recent grad? Want to get involved with entrepreneurship?

What you need are friends.

Other people will call them “connections” but I think that’s a buzzword that doesn’t mean anything anymore.

To do this, you’ll need a healthy combination of online and offline hustling…

  1.  Discover and engage with them online
  2. Connect with them in person

Easy right?

Below I’ve outlined steps on how you can discover the right people and connect with them. Ask good questions and ask for advice – what would they do if they were in your position? Finally, provide value. Literally ask them how you can help!

1. What is your goal?

What is your journey, why are you doing this? What is your end goal.
Understanding your end goal will help you create a more concrete plan and will also keep you motivated when you are thinking about quitting.

2. Get on Twitter

Follow and engage with local influences on Twitter with the goal of setting up a meeting in real life. Once you set up a live meeting, you are ready for step 4.

Influences can be journalist who write about your local internship scene, meetup and hackathon hosts, current founders, entrepreneurs with exits, investors, people who lead organizations that are dedicated to serving entrepreneurs etc.

3. Live events

Other good places to meet people involved with startups/tech and entrepreneurship are Meetups, hackathons, reach out to local organizations like accelerators, venture firms, current startups, etc.

4. Share your story

Once you’ve connected with local influences and people who are where you want to be, ask them questions. Find out how they got where they are today!

– What did they do to get here?
– Share your story.
– What would they do if they were in your shoes?

At the end of the meeting ask them “how can I help you?”

5. Provide value

How will you provide value?

Are you a coder? Are you a Google Analytics wizard? Facebook ads? Salesforce? Business development? Maybe you’ve had a few projects to show for it, etc. Offering services for free is a common “get-your-foot-in-the-door-technique.”

It’s 2017, if you can Google, you have a special skill.

At the very least you can manage a social media account. So don’t even say that you don’t have any skills.

Pro-Tips

  • Checkout the business section of your local newspaper, or local entrepreneurship blog
  • Angel lists are a great place to find startups
  • If a startup recently raised money ,chances are they are hiring
  • Same with VC firms
  • Follow up with emails within 1 hour (or 24 hours max)

Conclusion

Stick to the process and you will eventually luck out and connect with someone who is gracious enough to give you a shot.

When you do, work you butt off, under promise, over deliver and go above and beyond. The last thing you want to do is disrespect and embarrass the person who stuck their neck out for you.

If you drop the ball, don’t worry it happens, do not make this a habit. Follow up ASAP and remember, actions speak louder than words.


You can tweet me @alecksonn or subscribe to my newsletter

 

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“Wait” Training: Failure Happens

 

The waiting period between the date you finalize your business plan and the date your business is profitable and thriving, can be described as the heart and soul of the entrepreneur’s experience. You’ve completed the research, your financial projections are solid, you’ve secured the necessary capital to prepare for your official launch date and you are ready to hit the ground running. But what happens when the lived experience looks nothing like the researched plan? What happens when failure after failure seems to be the only predictable constant? Well, my best advice is: failure happens…expect it, embrace it and excel beyond it.

Let’s be real…in today’s culture, the thought of failure is romanticized. There are books, blogs and business features focused on the “art of failure” which oftentimes project a straight line from failure to success. While such depictions make for good reading, they rarely get to the reality of failure.

As an entrepreneur, I’ve experienced many painful failures balanced by notable successes in the pursuit of building a profitable and thriving business. While my business plan is the foundation upon which my business is built, the failures and missteps are critically important to the success and longevity of the business venture. Failure is inevitable. You have to decide if it will suffocate your dreams or resuscitate the possibilities. Below, I’ve listed my three-step process of dealing with failure as an entrepreneur.

  1. Expect it!
    Being a true Minnesotan, I plan for failure much like I plan for road construction. I know it’s coming, it has the potential to make life very frustrating, it may temporarily throw me off track, but it is necessary to improve the overall condition.
  2. Embrace it!
    My southern grandmother had a saying, “bought sense is better than given.” This piece of advice means we often value things that cost us something, more than we value things freely given to us. Failure is an opportunity that costs us something. Whether a financial setback or human heartache once we embrace the reality of failure we can reset, learn and get ready start again.
  3. Excel beyond it!
    Plastered on my wall are notes to self that list my goals and vision statement. Failure can easily take our thoughts down a rabbit hole of negativity. In order to excel beyond a failed experience focus on the long term goals rather than the immediate disappointment. Failure happens. Use it to your advantage and excel beyond the original plan!

I’d love to hear from you. Tell me about your process for excelling beyond failure. Contact me at bit.ly/FavTreats.

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Startup Secrets and Sh#$ to Know: Tips To Get Rich Quick!

Aleckson Nyamwaya has his beat on the pulse of the startup world in MN.  He is an Associate at @gener8tor, contributor for @startupgrind, ambassador for @1millioncupsspl and a lover of all things tech & startups. We are pleased to have his monthly insight with our blog “Startup Secrets and Sh#$ to Know.”  Check back each month for his thoughts, observations and featured companies.

Tips To Get Rich Quick!

There are many ways of getting rich, but even fewer legal ones. As a middle class american, getting rich has always been part of the dream – along with a “white picket fence.” So how do you get rich quick in the next 4–7 years?

“The key is to get on the cap table of high growth startups”

High growth startups are companies such as Snap, Blueapron and Uber on the earlier stage and Google, Facebook and Amazon on the later stage. Imagine if you had equity in the companies listed above from when they were just infants, you’d be a millionaire!

Below I’ve identified four ways to get on the cap table of high growth startups so you can not only get rich, but also quickly! This guide is for both non-accredited and accredited investors alike.


1. Entrepreneur

The surest way to make money quickly, and by quick I mean 3–5 years, is by launching your own company and becoming an entrepreneur! Along with making money, you would hone in on essential entrepreneurial skills needed to thrive in the future. Beware, entrepreneurship is hard, you will fail, but that is how you succeed. If you consider yourself risk averse, 2 & 3 are still viable options for you!

2. Employee

Joining a high growth startup is a great method to get on the cap table especially if you consider yourself risk averse. As an early employee, you will have the opportunity to not only invest in early employee stock options, but you will also have the opportunity to gain expertise in your field allowing you to lead your division as the company scales (i.e. VP, CMO, CTO, etc)! This can be difficult though because the most meaningful (unicorns) startups tend to huddle in silicon valley or Stockholm. You’d have a difficult time in other cities such as New York, Chicago, Minneapolis, Austin or Boston.

3. Consultant

If you don’t want to be an employee, you have the option of selling your services as a consultant. A tactic I’ve seen work is to get paid in half cash and half stock options that vest month over month. Be careful though because if done wrong, people will think you’re a “culture vulture” in sinking your teeth into startups. Start with value first by offering high quality unsolicited services. You can easily hit singles and doubles over 5 years of consulting for equity!

4. Angle Investing

With the advent of REG D equity crowdfunding, anyone can angle invest, non accredited and accredited alike! A great way to start is by joining a syndicate on angels list led by an experienced angel! WARNING Invest no more than 5% of your net-worth and be ready to LOSE IT ALL!


Good luck in your journey of chasing the good ol’ american dream! I hope this article was able to shed some light on new paths of attaining your goal!

If you found this useful, please share so others can get this information!


Guest writer:  Aleckson Nyamwaya
To sign up for his monthly tech newsletter CLICK HERE.

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IMPORTANT NOTICE:

We are pleased to announce the completion of our elevator renovation at the James J. Hill Center. This project was financed in part with funds provided by the Arts and Cultural Heritage Fund through the Minnesota Historical Society and the F. R. Bigelow Foundation. It will greatly increase our ability to serve patrons with accessibility needs.

Please access our ground floor elevator entrance via Kellogg Ave at the back of the building. Please ring the doorbell on the right hand side of door and a Hill staff member will assist you. If you have questions or concerns please call 651.265.5500. We look forward to having you visit our brand new elevator!

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