Why I Stopped Building My Business in a Bubble

My Journey Through Entrepreneurial Ecosystems

"In the Multitude of Counselors...there is safety" - Proverbs 11:14

My Story: From Isolation to Collaboration

Looking back over the years, I am grateful for so much favor. It’s been a prosperous and productive tenure for Hollin Wright Enterprises (HWE), and I did not do it alone. In addition to lifelong friends, family, great clients, and a productive team, our thriving was also due to our access to place-based and remote entrepreneurial ecosystems.

At first, I was reluctant to reach out for help. I thought I could build my business in a bubble, but I soon understood that isolation wasn't just limiting my access to capital—it stunted every aspect of my growth. My challenges seemed endless: staying relevant by understanding client needs, navigating tax policy changes, unraveling government contracting complexities, digitally transforming operations, and exploring new revenue streams based on environmental changes.

My breakthrough came when I found the courage to call upon my network's small business support systems. I knew I had to do the more complex work to move past being stuck, letting down my guard, and admitting to myself and others the truth about where I was struggling as an entrepreneur and why. I couldn't just be motivated by money. I needed knowledge and encouragement for the long game.

Small business development organizations validated and addressed my concerns about operations, sales, marketing, capital, and technology while inspiring me to uncover solutions. These organizations and my classmates exposed me to alternative, tried-and-true methods that transformed my business mindset.

Because of our entrepreneurial support system, HWE was able to bring on additional contractors, increase revenue by 20% year over year, access new capital through business lines of credit and loans, expand equipment inventory, launch our first cable commercial, manage national and regional events, attain hallowed business certifications, and win our first municipal contract.

I learned a key insight: The highly functioning entrepreneurial ecosystem is symbiotic—giving and receiving. We help one another.

Building Thriving Entrepreneurial Ecosystems: The Power of Collaboration

My personal journey illustrates a fundamental truth about business success: entrepreneurial ecosystems are the backbone of economic growth, providing the essential foundation for businesses to launch, grow, and thrive (Forward Cities, 2021)¹. These dynamic networks of resources, support systems, and collaborative partnerships create environments where innovation flourishes and economic opportunity expands across communities.

Research demonstrates that small businesses employ approximately 47 percent of America's private workforce and form the backbone of business districts across the country (LISC, 2021 )². At its core, an entrepreneurial ecosystem represents a comprehensive support structure that enables business success through coordinated efforts among various stakeholders. When these systems function effectively, they become powerful catalysts for sustainable economic development and community prosperity.

What Makes an Entrepreneurial Ecosystem Work?

An effective entrepreneurial ecosystem consists of four essential building blocks that work together to create a thriving business environment (Forward Cities, 2021 ¹:

1. People: The talented individuals who bring entrepreneurial vision to life, including founders, mentors, and skilled professionals who drive innovation forward.

2. Programs: Educational initiatives and support services connecting aspiring entrepreneurs with experienced mentors, providing essential training and guidance throughout business development.

3. Networks: Robust support structures that enable businesses to access resources, form partnerships, and create sustainable growth opportunities through collaborative relationships.

4. Resources: The tangible and intangible assets that fuel business growth, including access to capital, technology, workspace, and market opportunities.

Essential Ecosystem Components

A comprehensive entrepreneurial support network includes diverse stakeholders who bring specialized skills and resources (LISC, 2021)²:

Financial institutions: Banks, community development financial institutions, area loan funds, and credit unions that provide capital access
Business support organizations: Training providers, incubators, accelerators, and technical assistance organizations
Government entities: Local, state, and federal agencies supporting economic development and small business growth
Educational institutions: Universities, colleges, and workforce development organizations
Anchor institutions: Hospitals, corporations, and large organizations that can shape procurement strategies and support local businesses

My Hard-Earned Advice: Start with the FREE Offerings

As entrepreneurs, many of us constantly burn cash, especially in the beginning stages. Many entrepreneurial support organizations (ESOs) offer resources at no or low cost. Technology and resources are accelerating small business development and access to these ecosystems.

Here's what I learned about engaging effectively:

Pick up the phone and call—don't just rely on emails or contact forms
Attend in-person meetings and conferences
Be prepared to share your contact information and top business needs
Follow up immediately, then follow up again
Offer your business services and support in return

You may not find a perfect match with the first organization you call. ESOs can be underfunded and stretched to capacity, so wait times may vary. Keep hope alive—if you remain open and coachable, what generally shines through is that they care about your success.

Building Successful Collaborations

The most effective entrepreneurial ecosystems emerge when stakeholders work together systematically to address common challenges and leverage shared opportunities. Research shows that coordinated support networks outperform isolated efforts to create sustainable business growth (LISC, 2021 )².

Studies demonstrate that communities with well-established organizational partnerships proved far more successful at ensuring relief resources and advice reached small businesses during economic challenges (LISC, 2021 )².

Key elements for building thriving collaborative ecosystems include:

Strategic Planning: Conducting comprehensive assessments of local business conditions, identifying gaps in support services, and developing targeted improvement strategies.

Shared Resources: Pooling expertise, funding, and infrastructure to maximize impact and reach more entrepreneurs effectively.

Communication Systems: Establishing regular coordination mechanisms and information sharing protocols to ensure seamless service delivery.

Performance Measurement: Implementing data collection and tracking systems to monitor progress and demonstrate collective impact.

Action Steps for Ecosystem Development

Communities looking to strengthen their entrepreneurial ecosystems can follow these proven strategies (LISC, 2021 ²:

Organize Stakeholders: Identify and convene key players, including business support organizations, financial institutions, government agencies, and community leaders who share a commitment to entrepreneurial growth.
Assess Current Conditions: Conduct a thorough analysis of the existing business support landscape, identifying strengths, gaps, and opportunities for improvement.
Develop Coordination Structure: Establish clear leadership roles, meeting schedules, and decision-making processes to guide collaborative efforts.
Create Capital Partnerships: Work with lenders, investors, and funding organizations to expand access to flexible financing options for businesses at various growth stages.
Build Technical Assistance Networks: Connect business development organizations to share resources, coordinate referrals, and eliminate service gaps.
Integrate with Economic Development: Align ecosystem activities with broader regional economic development strategies and policy initiatives.

Essential Resources and Tools

Based on my experience, here are valuable resources for entrepreneurs and ecosystem builders:

Small Business Administration (SBA) - Federal resources and loan programs
SCORE Mentors - Free business mentoring and education
Small Business Development Centers (SBDC) - Technical assistance and training
Hello Alice - Business funding and resources platform
QuickBooks - Business management software
APEX Accelerators - Government contracting assistance

Hollin Wright Enterprises: Your Ecosystem Development Partner

Ready to transform your business or organization through strategic ecosystem engagement?

Hollin Wright Enterprises specializes in helping businesses and organizations navigate and leverage entrepreneurial ecosystems for sustainable growth. Our comprehensive services include:

For Organizations:

Ecosystem Mapping & Assessment: Comprehensive analysis of local business support landscapes
Stakeholder Coordination: Facilitation of multi-stakeholder partnerships and collaborative networks
Strategic Planning: Development of ecosystem enhancement strategies and implementation roadmaps
Capacity Building: Training and consulting for business development organizations
Performance Measurement: Design and implementation of data collection and impact assessment systems

For Individual Businesses:

Business Coaching: One-on-one guidance for navigating entrepreneurial ecosystems
Capital Readiness: Preparation for funding applications and investor presentations
Network Navigation: Strategic introductions and ecosystem connection facilitation
Growth Strategy Development: Customized business expansion and scaling plans
Certification Assistance: Support for obtaining business certifications and government contracting opportunities

Don't build your business in a bubble. Let us help you GET CONNECTED to the resources and networks that will accelerate your success.

Schedule a FREE consultation today or connect with us on LinkedIn to explore how we can support your ecosystem development journey.

My Call to Action: Get Connected

The challenges may seem endless if you're a solopreneur or small business owner. However, having local lifelines and online resources can be a game-changer.

Visit their websites and check them out. They are waiting for your call. If you aren't sure where to start, contact Hollin Wright Enterprises for a free consultation to GET CONNECTED!

Building together pays more dividends than building alone. The key is generosity and gratitude—return to share your successes, refer other business owners, and forward resources that may help your ESO representatives and their other clients.

Conclusion

My journey from isolation to collaboration transformed my business metrics and my entire approach to entrepreneurship. Building thriving entrepreneurial ecosystems requires intentional collaboration among diverse stakeholders committed to economic growth and business success.

When communities invest in these coordinated support networks, they create environments where innovation thrives, businesses grow, and economic opportunity expands. The most successful ecosystems emerge from sustained partnership efforts that leverage collective resources, eliminate barriers to business growth, and create seamless pathways for entrepreneurs to access the support they need.

Remember: You cannot build your business in a bubble. Trust the process, engage with your ecosystem, and watch your enterprise thrive.

References

¹ Forward Cities. (2021). Assess Your Ecosystem: How Do You Measure the Health & Equity of an Entrepreneurial Ecosystem? Forward Cities.

² LISC. (2021). Building Equitable Local Ecosystems for Small Business: Collaboration is the Key. Local Initiatives Support Corporation.