Regionally-based entrepreneurs have innovative ideas that spark from geography and cultural factors. Distance programs enable access to key resources that are often taken for granted in the city.
Meet Beth Gallup, an Executive in Residence (EiR) for our On-going Venture Acceleration Program. Although she has an MBA in New Venture Development, being an entrepreneur is what has equipped her with the necessary tools to be a mentor. “There’s nothing like experiencing and starting your own businesses,” she says.
To Beth, mentorship is not just a way to help people avoid mistakes — she also continuously learns from the clients she serves. “I get energy from new ideas, and gain insight from the way that other people innovate,” she adds.
Laying down foundational entrepreneurial skills
New Ventures BC isn’t the first organization Beth has mentored with. What is unique about our programs compared to some of the others she’s been a part of? “The main difference is the greater emphasis on customer discovery. This goes with the fact that a lot of the people in our programs are at an earlier stage, or are not necessarily a repeat entrepreneur,” she comments.
“Past programs I’ve worked with involve experienced entrepreneurs who want to take a particular idea to market.” Participants in New Ventures BC’s programs typically don’t have as much experience — it’s an opportunity to learn basic entrepreneurial skills.”
Access for regional-based innovation
Beth believes that our Distance and On-going Venture Acceleration Programs are innovative because they bring Market Validation Training and mentorship to areas with innovation based on culture and geography. Where she lives, there is a lot of innovation in in mining, off-grid power and sports technologies — ideas less likely to appear in urban areas.
“What’s great about the BC Acceleration Network is that we support each other. New Ventures BC can serve as a way to get entrepreneurs in the door, and we can direct them to a more traditional accelerator program afterward,” Beth says.
Your deliverable evolves through the mentoring process
As a mentor primarily working with early stage ventures on an ongoing basis, Beth has seen multiple companies develop through pivoting. Pivoting refers to the process of taking your idea, tweaking it, and applying it to a bigger market, or one that’s not as well-served.
Beth believes that you can discover your pivot potential “through working with your EiR, helping push you to think about other applications and ideas of your innovation.”
You’ll need to take entrepreneurship seriously
After over sixteen years of acting as a consultant for entrepreneurs, Beth says that watching other people try to balance business with family and the rest of life has brought home for her how difficult it can be to manage these different elements.
“You have to go in with your eyes wide open. Your quality of idea is important, but equally as important is that you have to be seriously committed to the idea. You need to be committed in order to be successful,” Beth says.
Read more from our #MentorMondays series →
About the mentor
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