Upstate New York provides a great environment for entrepreneurial activity. One of the key ingredients to building a successful entrepreneurial ecosystem is mentorship. First-time or inexperienced entrepreneurs have a need for consultation and guidance. That mentorship provides for much greater outcomes as the business matures. Strategy, connections, insight, and a few gray hairs provide much-needed […]
Upstate New York provides a great environment for entrepreneurial activity. One of the key ingredients to building a successful entrepreneurial ecosystem is mentorship. First-time or inexperienced entrepreneurs have a need for consultation and guidance. That mentorship provides for much greater outcomes as the business matures. Strategy, connections, insight, and a few gray hairs provide much-needed support.
The mentors active in the region come from all walks of life and geography. Most importantly, they have had substantial success from which others can learn. One such mentor is Michael Duda. He’s a native of Syracuse and a graduate of St. John Fisher College, near Rochester. Upon graduation, Duda spent a couple years in Rochester before moving to New York City in 1995. He now resides in Connecticut with his wife and three children.
Duda is the co-founder/managing partner of Consigliere Brand Capital, a marketing-management consultancy with a venture-capital fund. Consigliere features a unique group of business athletes joined together to work with ambitious entrepreneurs to install fundamental marketing principles at the operational level to help propel brands to go further, faster. Consigliere’s portfolio includes the likes of Under Armour, Chobani, Warby Parker, Birchbox, and Harry’s — to name a few.
Previously, Duda spent 17 years in the world of Madison Avenue, the last 12 at Deutsch Inc. As partner, chief corporate strategy officer, he oversaw business development, corporate strategy, public relations, and agency brand development as well as relationships with brands ranging from the Fortune 500 to upstart firms closing in on them.
Duda is a board member of Syracuse University’s David Falk School, winner of Crain New York’s coveted “Top 40 Under 40” New York City business people award, and can often be found yelling at referees at sporting events.
Duda embraces his affinity for the upstate New York region by providing mentorship to early-stage companies. His passion and connection to the region can be felt in the answers he provided to the questions we asked him.
Q: Mentorship is an important ingredient to entrepreneurial success. Why is it important to you, and what propels you to take action given your busy schedule?
A: My dirty-little secret belief of mentorship is that I benefit as much, if not more, than the person seeking counsel. Meeting with all sorts of people helps me stay apprised of what’s going on across the business landscape as well as to identify incredible talent and teams. And as a good Catholic boy from St. Ann’s School in Syracuse, I feel it really is just the right thing to do.
That said, I wish I could point to being perfect on the time-commitment element. Unfortunately, as a fellow entrepreneur whose business is also driven by unforeseen marketplace or portfolio-company needs, I wish I was better at taking more action.
Q: How did you get connected into the entrepreneurial ecosystem in upstate New York after you left?
A: I grew up in an era where Syracuse was (perhaps painfully) transitioning from a thriving blue-collar city to health care, technology, and services. I still remember the day when Allied Chemical announced its pull-out. I did not realize the gravity of the situation, but knew it could not be good given how local news outlets were reporting it.
Over time, I came to appreciate that in the face of tough times, the pendulum must swing the other way. And it has been germinating for a while when you look at what Eric Mower, Mark Russell, and Pinckney Hugo have done in advertising, Welch Allyn in medical devices, and Chuck Stormon, Nasir Ali, and Mitchell Patterson in entrepreneurship in different ways. Then there are the Howard Dolgons, Bob Congels, Ray Halbritters, and Hamdi Ulukayas of the region. The list is deeper than people realize, and given the continued uncertainty of big companies like Lockheed Martin, the ability of entrepreneurs to light a number of mini-torches for growth will provide a great path for the region’s future.
Syracuse is too damn good of a town with great people to stay down for a sustained period. Those mentioned above, be it directly or indirectly, have motivated me to reconnect and help make the community where the bulk of my family lives everything it can and should be.
Q: A lot has changed in the region since you graduated from college in 1993. Why is it more advantageous for graduates to stay in the region today compared to then or even just a few years ago?
A: With the advances in technology and the strong education base, there are few reasons why the next great company can’t come out of a Syracuse or Madison, Wis. or Des Moines, Iowa. The idea that entrepreneurs must go to Silicon Valley, New York City, or Boston to make it is not true. Sure, those ecosystems are strong and bountiful, but those too have been self-built.
Coupled with the rise of the Millennials, a generation intent on having strong personal goals as well as a business, Syracuse is a great place to live and raise a family. That matters.
Ultimately, those who have the drive, passion, vision, and a chip on their shoulder tend to lead the way. And, I think that is happening right now in the 315 area code.
Q: The region has tremendous untapped value that can lead to exponential growth. What valuable characteristics do you see that maybe others don’t?
A: The biggest negative of the region is a too-widespread mentality that the glass is half empty, that in the wake of economic decline, the doldrums are the new mainstay. And for a while, I think a lot of people have been waiting for someone else to do something.
But the people in the Syracuse area tend to have a lot of genuine heart, hustle, and work ethic in their bones. They care for others. They are proud, and even those who might self-loathe about the area will be the first ones to speak passionately about it to out-of-towners.
On top of that, the region has some tremendous minds and young ones who might be wonderfully naïve enough to not know what they can’t accomplish when you look at Cornell University, Syracuse University, and other schools.
More people are asking, “Why not?” than thinking “Cannot.” And, that’s why I am bullish on Syracuse and Onondaga County.
Q: If people reading this decided they wanted to become a mentor, what are some steps they could take in order to make that happen?
A: Figure out what you know and have the mindset built on empathy for the person across the table. Rinse. Lather. Repeat.
Robert M. (Rob) Simpson is president and CEO of CenterState CEO. Contact him via email at: rsimpson@centerstateceo.com. Kyle Blumin is an entrepreneur in residence at Syracuse’s StartFast Venture Accelerator. Contact him on Twitter at @kyleblumin