Entrepreneurial Judo

Well Hey There folks!  My name is Trey Buck and I am the creator of this here blog!  A little background information on me:

I was born and raised in Austin, Texas, and I moved to Indiana for schooling at Rose-Hulman Institute of Technology.  I graduated with an Undergraduate degree in Mechanical Engineering in the fall of 2008, and I decided to continue my education at Rose-Hulman by starting a Master's of Science degree program in Engineering Management (MSEM).

Concurrent with my graduation, while considering graduate school, I learned about the Governor Bob Orr Indiana Entrepreneurial Fellowship.  The program is designed to provide distinguished post-grad jobs for uniquely qualified candidates from around the state of Indiana.  Host companies for fellows are generally high growth start-ups with alot of potential and high-quality leadership.  After understanding the mission of the organization, I was hooked on the idea of a fast-paced, ever-changing environment where I could learn from some of the best mentors Indianapolis and Indiana had to offer.

I am a volunteer at the Humane Society of Indianapolis (HSI) as a foster parent for sick, injured, or deprived animals in need of some TLC.  If you are interested in fostering check it out here! The HSI is always looking for loving homes to help animals recover in instead of the shelter.  Change a life today!

Apart from that fun stuff, you can generally find me playing soccer somewhere around Indianapolis like Sportzone or Off The Wall Sports or at your local park.  Please, no autographs though ;).  Im a big fan on video games, movies, music, and anything local or inde, so if you are into those scenes drop me a line!

Thanks for reading, and enjoy my blog!

In the financial world, the term "alpha" is meant to signify a measure of performance that is adjusted for risk.  But how do we measure risk in the real world?  Are some entry-level jobs in start-ups more or less risky than others?  How can we know when we've found a winner, that coveted "diamond in the ruff"?


Some may say that it is nearly impossible to assess the risks of any new venture considering the volatility of markets, the unpredictable nature of competition, and the influence of shear luck and ingenuity.  While some of that may be true, there are certainly places that have been historically more successful than others: the Silicon Valley specifically.  But for the last decade or more, the Valley has seen stiff competition, with distinguished post-grad jobs popping up across the nation (and the world). 

I would argue that Indiana is one of the places most suited for companies hiring new grads to establish their roots: our cost of living is significantly lower than other states; our central location within the US places almost any major city within a day's drive; and Indiana has managed to keep its state and local government budgets contained while others have moved even closer to bankruptcy.

And these advantages have not gone unnoticed by the entrepreneurial community:  Start-Up Indiana is focused on developing high-growth start-ups in the region; Indianapolis now has its own start-up newsletter, Startup Digest, a free service helping entrepreneurs find events that might peak their interests; and the Orr Fellowship which is aimed at finding and growing tomorrows business leaders through placement in entry-level positions in entrepreneurial companies.  All of these initiatives are great examples of organizations driving jobs and opportunity within Indiana and sewing the seeds of growth and fortune.


So when thinking about how to evaluate job opportunities, remember to find those places that minimize the risk of failure and maximize the chances of success.  Look to the local community and their support for up-and-coming entrepreneurs.  Ask questions.  Seek  guidance.  And most importantly, do all you can to maximize the alpha in your life and career.

I get asked this same question, or some variation of it, a LOT.  So many people are interested in the Orr Fellowship and the post-grads' careers that come through the program that this question is almost a staple of any new conversation struck.  Similar questions include:

What do you want to do after you finish?
What kind of venture are you interested in?  Technology jobs in Indianapolis?  Business jobs in Indianapolis?
What's the next step in your entrepreneurial career? 
Where do you see yourself in 5 years?

And the list goes on... and my answer is always the same: I need to wait and see.  This sort of answer frustrates most listeners, as it probably should.  Even worse, it frustrates me because I WANT to run a high growth start-up, full of all the excitement and wonder these sort of organizations are known for.  And Im young.  Now is the time to make mistakes, right?  Without having to worry about not being able to recover from a bust, with plenty of time to recover my life and my career right?

Yes.  But no.  A May, 2008 study by the Kauffman Foundation found that twice as many tech saavy entrepreneurs start businesses in their 50's as they do in their 20's, with an average age of start-up founders being 39.  Not 20, not 25, not even 30.  39.  To me, this says that experience is a great teacher, but more important is the kind of experience; being a former CEO of three failed start-ups at 30 might be great experience to lean on, but it probably isnt as effective as working within and learning how start-ups and small businesses should be run to build successful organizations.  There is a proverb that goes something like "yesterday's tracks are tomorrows guides", and this is a perfect example of that; so, the first part of my answer to "why havent you started a business yet?" is: Why make the same mistakes you can learn from watching others?

There is a second part of my answer, that is more complicated but Ill do my best: circumstance.  Start-ups, especially technology start-ups, need the right circumstances to survive and grow.  The team, the idea, the implementation, the market, everything needs to be well understood and in place before Ill want to touch money.  Many a good idea have failed because they were missing a piece of the entrepreneurial puzzle, and all the hard work, long nights, and missed sleep was wasted.  The thing is, we usually never hear about these companies, the ones that fail.  Thats part of what makes entrepreneurship so attractive: we really only hear about the successes, and so it seems (to the untrainted eye) that starting and owning a business is easy as apple pie.

For me, I will choose my opportunities wisely.  And only when I am ready will I become that ever-so-coveted title of  "entrepreneur." That could be tomorrow, or it could be never.  The numbers (and my own brain) are telling me it will probably be a while.  But then again, who knows?