Mentoring provides substantial value and results for startup communities. Not only does it offer much-needed support to first-time entrepreneurs, but it also provides great value and lessons to the mentor as well. As we have been reporting, the upstate New York entrepreneurial community features some amazing and talented people. Peter Dean is one of those people. The president and founder of Saratoga Springs–based Internet-marketing agency RenderTribe, Dean is quick to point out the value of being actively involved in the community.

 

Dean has built a reputation for innovation in web marketing and e-commerce. He is a regular guest lecturer at the Lally School of Management & Technology at RPI, teaching web-marketing strategy and Google AdWords management. As a mentor, Dean says he enjoys helping young companies scale and achieve their potential. Currently, he serves on the advisory board for two startup companies.

 

Prior to RenderTribe, Dean founded and led companies in the e-commerce and service industries. Before his entrepreneurial pursuits, Dean held senior global business development and sales roles with FedEx and DHL. He helped develop and design innovative supply-chain programs and brought in more than $45 million in new business over his career. Dean has used his deep understanding of the sales process to help clients make a big impact with their lead-generation programs and successfully integrate marketing and sales.

 

We believe you’ll find Dean’s answers to our questions refreshing and illustrative of the positive entrepreneurial energy generated all around Upstate.

 

Q: You have participated in multiple startups on both the East Coast and West Coast. One consistent trend in the startup world is the need to engage with active mentors. What value would you attach to a mentoring relationship as a startup founder? 

 

A: I do not think I would have survived any of the startups without mentors. They are all valuable for different reasons. They often provide a unique perspective that is hard to get when you are in the business every day. Entrepreneurs face many unknowns at any given stage of a startup. Just bouncing something off a mentor that has relevant experience can produce a significant, positive impact. Mentors’ willingness to challenge your thinking is invaluable. 

 

I have worked with two distinct types of mentors over the years: those with startup experience, and those without startup experience. Both types of mentors are valuable for different reasons, and it’s important to work with both. Startup mentors are valuable in helping with issues unique to the startup, but they also can have the same flaws as you do. Non-startup mentors bring that balanced perspective needed for helping you succeed. The mentors without startup experience always have a hard time understanding their impact, but in reality added tremendous value. You don’t have to have startup experience to be a good mentor. Honesty is the most important trait.

 

Q: Some of your career experience was in the Bay Area and Northern California. Saratoga Springs is a whole different world from San Francisco. What led you to Saratoga Springs and what has your experience been since your return?

 

A: When we started a family, we moved back to Upstate, because we wanted to be closer to family. We also wanted to enjoy a certain type of lifestyle that was difficult to achieve in the very expensive San Francisco market. We bootstrapped our first company to profitability. That was not a simple task. When you are bootstrapping, you need to minimize all your costs. This was a challenge when we lived in San Francisco, because of the high costs of living and working there. 

 

The cost of living and the funding needed to start a company are lower in Upstate.

 

Each location has its set of unique challenges, but we love being part of the Saratoga Springs community and upstate New York.

 

Q: Some people reading this may question the value of mentoring. Time is a precious commodity. What value do you receive from being a mentor to various entrepreneurs?

 

A: I am still building businesses and continuously looking for attractive, new opportunities. Every time I have a chance to work with entrepreneurs, I find it invigorating to see the passion they have for their work. This drive inspires me and challenges me to think about what I am doing constantly in my own work. I always go back to my business with renewed energy.

 

I believe that you will get back more than you give. I have learned lessons alongside the people I have mentored. These interactions have expanded my knowledge and made it clear that the value of mentoring is felt by both sides. 

 

Q: If you were a student today, why would you remain in upstate New York upon graduation to build a company versus leaving for a different part of the country? 

 

A: I think in upstate New York, students today have a unique opportunity to get access to a broader support network without as much competition. We have some of the best universities in the nation right here, with minimal competition for their invaluable attention and support. Many of the companies I know that are taking advantage of such opportunities are thriving. If you were to move to San Francisco, you are just one of many potential startups in line to gain access to such value. 

The network you build in school is invaluable. When I moved to San Francisco, it was like starting over again and that is difficult. In a startup, your network and its reach are important assets to help grow your business and solve problems. Building any company, regardless of location, is hard, and in reality, not that glamorous. Moving away from your base network to a location that has more hype does not change the basic business problems you are solving. Be careful not to chase the hype.

 

Q: Upstate New York has many entrepreneurs with substantial experience that is invaluable to first-time entrepreneurs. If someone reading this is thinking about becoming a mentor, what would you suggest they do to take the first step?

 

A: Find an accelerator or a startup weekend and show up. There is never enough good help to get a startup off the ground. The universities and colleges often have an active community with local events that you can attend. One of the best ways to find an event in our region is through Upstate Venture Connect at www.uvc.org. Go to an event and start meeting people. 

 

Q: We’ve been saying for a long time that this region has an amazing set of untapped assets. People are now leveraging those assets for success. Can you talk about what you see happening in the Capital District area as well as the upstate region as a whole?

 

A: There are some great startups in the Capital District and a lot of activity coming out of RPI and the SUNY College of Nanoscale Science and Engineering. I am constantly meeting new technology startups in the region. A groundswell of new companies is emerging and a community of people is supporting them. Entrepreneurs can tap opportunities to get involved at http://startuptechvalley.org/ hosted by RPI’s Severino Center for Technological Entrepreneurship, or http://saratoga.startupweekend.org/. I have seen an increased interest from members of the community in helping build up the startup community in the Capital District and all of Upstate. We have a ways to go, but things seem to be moving in a positive direction.

 

I am also seeing some great activity in Ithaca, Syracuse, Rochester, and Buffalo. I had the pleasure of mentoring this summer with the Start Fast Accelerator in Syracuse. I was impressed with the amount of local support from the community and the number of inspiring companies that applied for the program. I think that collaboration between the communities is the key to all of upstate New York’s success in building an environment that fosters the growth of startup companies. We are all facing similar challenges and we can learn from each other. 

 

Q: You’re a triathlete who is currently training for the Ironman event in Lake Placid. That is no small task. How widespread do you find the athletic community within the region and why would that be important to entrepreneurs? 

 

A: The Ironman community is a tight-knit group of overachievers. The profile for an Ironman triathlete in many ways parallels that of an entrepreneur. To go 140.6 miles in one day takes a little bit of crazy and a lot of determination. That same thing can be said for many entrepreneurs. I have a network of people I have raced and trained with that include entrepreneurs, from Ithaca to Connecticut. Sharing a long painful journey with another person creates a unique bond. 

 

Even if doing an Ironman is not remotely on your radar, one of the most inspiring and motivating events to witness is the Ironman finish line from 10 p.m. to midnight. Watching young and old participants, alike, cross the finish line with the expression of pure joy and total accomplishment charges you up for months to come. We have one of the best Ironman events in the world right here in the Adirondacks. If you want to be inspired, come and cheer on a number of upstate startup CEOs in Lake Placid on July 27, 2014. 

 

This series is meant to provide value to you as a reader and be a call for action. We would ask that you get involved in the resurgence of upstate New York and benefit from your actions. If you’d like to become a mentor, multiple outlets across the region are available to you. Here are a few of the organizations that would love to talk to you about mentoring:

 

ELab @ Cornell, Ithaca: http://www.entrepreneurship.cornell.edu/activities/elab

Z80 Labs in Buffalo: http://www.z80labs.com/

HTR Launchpad in Rochester: http://htr.org/htr-launchpad

StartFast Venture Accelerator in Syracuse: www.startfast.net

The Tech Garden in Syracuse: www.thetechgarden.com 

In our next installment in the series, we will highlight another valuable contributor to the success of the upstate region.       

 

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