Startup Grind’s core value to “make friends not contacts” was in full effect at Startup Grind 
Detroit this September. The interview, usually conducted by the Detroit Chapter Director, Anamarie Sabagh, was led by Startup Grind Founder & CEO Derek Andersen. Andersen and the guests - Matt Miller of Sequoia and Ryan Smith of Qualtrics - also happen to be long time friends. The event felt like family.
When wrapping up the interview, Andersen stated that it was unusual to have so many representatives from the Startup Grind team at the same place – Chapter Director David Smith was visiting from Lansing and I was visiting from Kalamazoo, both in Michigan.
From the Experts: The Characteristics of Entrepreneurs
The interview began with Miller and his entrepreneurial experience: “Being an entrepreneur was one of the most inspiring things. I am inspired every day,” he stated in front of the Detroit audience. Miller defined great entrepreneurs as having three main characteristics. The first two, he said, are that great entrepreneurs want to change the world and make an impact. The third trait, Miller continued, is that entrepreneurs are “hell bent on making it happen.” Miller also stated that great entrepreneurs know how to recruit. He said they are aware of what they know and what they don't know and find people for the team by having the ability to become a magnet.
The great entrepreneurs as Miller described would include Ryan Smith and his dad. The two started Qualtrics, a business to business enterprise company, in their basement. Smith's dad explicitly stated “no venture capital.” Smith said his dad also told him “You have to get a real job.” It didn't matter that Smith was making $130,000 annually from Qualtrics. Smith did follow his father's advice and while working full-time for Ford in Colorado, Smith was determined to close a bigger deal and utilized lunch hours and other open times towards that goal. “People really don't understand what it takes – I have relied on bootstrapping everyday,” Smith said. When Smith decided to look for more help, Miller was there as a partner from Sequoia.
Miller meets with over a thousand companies a year and seeks out the ones run with characteristics he recognizes in entrepreneurs like bootstrapping and local partnerships. By the time Miller enters, the companies are at a growth stage. If all they are looking for is a paycheck, though, Miller will recommend crowdfunding or a bank loan. Partnership means there is more of a personal interest.
Smith wanted was to be able to stay in Provo, Utah, which was where Qualtrics started. Even at the point where Smith was finally able to get out of the basement and grow his business, he was not required to be in Silicon Valley. Miller stated “You can do everything here (in Silicon Valley) that you can do anywhere.” Andersen pointed out that being in Detroit and other areas that aren't Silicon Valley, means that you can focus on the product without having to pay a large bill. It is simpler.
Smith added “Be thoughtful of what is in your area and visualize next year and your story.”
“I wanted to write Ryan Smith's story,” Smith stated. Miller added that he was “here to help.”