As the managing partner of Think Big Partners, Think Big Kansas City and bizperc, Herb Sih has been busy over the last three years (Left, photo from thinkbigpartners.com). Most recently, Think Big announced a collaboration with Angel Capital Group, a Tennessee-based investment group, to launch 4-6 companies in an incubator right here in Kansas City.
The Think Big KC incubator is based on the Y Combinator/TechStars proof-of-concept model. Founders apply with a business plan and receive a little funding, along with some legal and marketing help, and 90 days of mentoring to ship their concept. At the end of the incubator period, the founders will be able to pitch their concepts to investors and try to raise further seed money to grow their ideas.
Think Big has had a lot of demand for seed funding through the incubator program and its bizperc coworking space. Either way, tech entrepreneurs in Kansas City can be sure that Sih and his staff at Think Big are always looking to help tech startups get going in Kansas City.
I recently had a chance to interview Sih, here are the highlights of our conversation:
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Silicon Prairie News: Let’s dive into your background, can you tell our readers what your background is as a “serial entrepreneur?”
Herb Sih: It started at an early age. I started working at my father’s chemical company at the age of eight. He was a scientist and entrepreneur. So I understood the trials and tribulations, and what it means to be an entrepreneur. I went to college and then was in the military for a number of years. I worked as the vice president of sales* for eScout. In 2001, along with some others who believed in pay-per-click marketing, we started what’s now known as ClickSpeed. In 2007, ClickSpeed was the only company in the state of Kansas that made the Inc. 500 list. It started out as a lead-generation business and spawned many different successful companies in the business and marketing space that started from that one kernel. I’ve been involved with nearly 30 companies and had a number of successful exits.
What took you from starting all of these different companies into helping others start companies with Think Big Kansas City?
Sih: Well, I had an epiphany while I was founding another company with my co-founders at Think Big about how we had reached this point. The path of entrepreneurship is not glamorous, and we thought that there had to be a better way to start companies. It took three years and we studied the models. We got a business incubator certification, which isn’t common. We talked to our fellow entrepreneurs and realized that if we could create a place with the right resources, tools, in the right space at the right time and combine that experience, expertise and passion that it could work. We think we’ve done that with Think Big. Companies can launch faster and cheaper than ever before.
You recently announced your partnership with Angel Capital Group out of Nashville, Tennessee to create the Think Big incubator – what is the incubator’s status and when does the first class start?
Sih: Our partnership with Angel Capital Group was a byproduct of us saying we’ve got good entrepreneurs and good ideas, but the local market is maybe lacking interest in supplying capital. Our partnership allows us to expand the capital supply to beyond Kansas City. We intend to launch the Kansas City chapter of the Angel Capital Fund in April. We’ve got two companies picked to start and we’re looking for 2-4 more companies with the right business plans to join them. The incubator will be similar to TechStars or Y-Combinator.
Can you tell us about the bizperc coworking space Think Big created to help startups and small businesses?
Sih: It’s a 14,000 square foot workspace located downtown in the Kansas City Crossroads District. We wanted to create the Olympic Training Center for entrepreneurs. We put together the best equipment, talent, coaches, resources we could [get] into the space. Beyond the tangibles we looked into the psychology and science of productivity and created a loft workspace in a progressive environment to spur productivity. We built the space to have great sight lines, natural light, inspiring colors, etc. We also supplied the space with lots of equipment entrepreneurs may not have access to, high-tech whiteboards, etc.
A gathering area inside bizperc. Photo from bizperc.com.
What’s the one piece of advice you would give to aspiring entrepreneurs in Kansas City?
Sih: Can I give two?
Of course.
Sih: The first one is fail fast and fail cheap. If you’re going to do something, figure out if it’s going to work or fail quickly. If you can prevent the pain, suffering and grief of working for a company that’s failing. Don’t get emotionally tied to the idea.
The second is it’s all about the people. Who you surround yourself with, how you work with others, the talent you get onboard around you and the partnerships you create. Your clients, vendors and investors are what it’s all about. Don’t forget that collaboration is key.
To learn more about Think Big Partners, visit thinkbigpartners.com.
*Correction, 1:35 p.m. – When published, Sih’s orginal response was misstated. Instead of working on the “investment side as an executive for eScout,” he served as vice president of sales.
