Give First: The Power of Mentorship with Brad Feld

      Brad Feld, a seasoned entrepreneur, investor, and advocate for community building, shares his journey from launching early companies to founding influential accelerator programs. In this interview, he reflects on lessons learned from both success and failure, the origins of the Give First philosophy, and his role in creating supportive networks for fellow founders. The conversation covers his early ventures, the challenges of startup life, the impact of collaboration among entrepreneurs, and his work with organizations that help shape startup communities.

      Interviewed by EAB Founder and Silicon Valley entrepreneur, Martin Babinec and hosted at Rock City Center in downtown Little Falls, New York, the discussion touches on pivotal moments in Brad’s life. These include the launch of his first successful business, the importance of learning from mistakes, and the significance of building connections among peers. His insights come from decades of experience in technology, investments, and nonprofit endeavors that span from the early days of entrepreneurship through the turbulent internet era.

Q&A With Brad Feld

Martin Babinec: What inspired you to start Feld Technologies and begin your journey as an entrepreneur?

Brad Feld: I began Feld Technologies when I was in college with no firm plans for a career. I took my first job at a startup during high school and then continued working for a husband and wife software company in college. I learned the basics of creating a company from scratch, and when I started my own ventures, the thrill of building something out of nothing was very powerful. Early lessons came from working for mentors who guided me on how to pursue ideas, even when early experiments did not yield the desired results.

Martin Babinec: You mentioned some early failures and successes. Can you share a few of those experiences?

Brad Feld: Certainly. I started a few companies before finding success with Feld Technologies. One was a company with college friends, Martingale Software, which struggled with the challenges of the new Macintosh environment. Another venture involved creating software for cephalographic analysis. That project failed because we had only one customer who lacked the demand for further development. However, these setbacks taught me that every failure was a learning opportunity. They molded my philosophy to focus on what customers truly need and to keep iterating until the right solution emerged.

      The following points summarize key lessons from that early stage:

• Starting small can provide valuable learning experiences.

• Not every idea will work, but each one teaches you something new.

• Understanding customer needs is essential. 

      These points allowed Feld to build a solid foundation for future success.

Martin Babinec: Tell us about a significant challenge you faced with your early company and how you overcame it.

Brad Feld: In the early days of my company, we faced a severe cash flow problem. With almost no capital, we had to manage a small amount of revenue against many expenses. My father played a key role by advising us during a difficult period when we had to let go of several employees. His honest counsel pushed us to focus on creating a sustainable model. We eventually adjusted the business strategy so that every month the revenue exceeded the expenses. That discipline proved essential in restoring our footing.

Martin Babinec: You attended a program known as Birthing of Giants. How did that experience influence you?

Brad Feld: Attending Birthing of Giants was transformative. I was part of a group of founders, some leading small companies and others heading multi-million-dollar ventures. For the first time, I interacted with peers who were experiencing similar struggles. One memorable moment was facing the task of firing an employee; a situation I had never fully handled before. The advice and support I received from others during that face-to-face exchange made me realize the immense value of being part of a founder community. I learned that shared challenges and honest discussions are vital for personal and professional growth.

      Some of the key takeaways from that program include:

1. Peer support can provide clarity in times of crisis.

2. Facing difficult decisions is part of the entrepreneurial journey.

3. Building a network of fellow founders is invaluable. 

      This event marked the start of a lifelong commitment to creating and nurturing communities for founders.

Martin Babinec: You also played a role in launching the Young Entrepreneurs Organization in Boston. How did that come about?

Brad Feld: Following my experience at Birthing of Giants, I joined an early group of entrepreneurs that eventually grew into what is now known as EO Boston. There were plenty of people who felt isolated in their struggles; we knew we needed to create a local community that allowed us to share experiences and learn from one another in a very candid way. The name might have evolved over time, but the goal has always been the same; bringing together passionate folks to support each other. In Boston, as in many other cities, that connection helped many founders see the power of collaboration.

Martin Babinec: Your transition into working with larger companies, like AmeriData, marked a turning point. Could you explain what that shift was like?

Brad Feld: Being acquired by a larger entity was both a validation of our efforts and an opportunity to learn new skills. Inside AmeriData, I worked with founders who had a wealth of experience in managing and funding businesses. Two individuals stood out: Len Fassler and Jerry Pock. Len, in particular, encouraged me to get involved in deal-making and showed me the importance of understanding financial structures. This time also led me to become one of the early angel investors, which broadened my perspective on what it meant to support a fellow founder financially and intellectually.

      The experience at AmeriData provided several insights:

• Learning new financial concepts can be a game changer.

• Relationships built during these times can last a lifetime.

• Supporting other founders benefits the entire community. 

      These interactions not only enhanced my practical skills but also deepened my commitment to helping others succeed.

Martin Babinec: At one point in your journey, you began to shape a unique philosophy you now call Give First. How would you define Give First?

Brad Feld: Give First is a philosophy that centers on the idea of contributing energy to a system without knowing in advance what will be returned. It is not based on a strict set of rules. Instead, it offers a framework that encourages non-transactional help. In other words, the focus is on creating a positive feedback loop where energy from many sources can create new opportunities. Unlike approaches that require direct reciprocation, Give First is about building long-term, mutually beneficial relationships over many turns. This mindset has shaped how I engage with other founders and supports the idea that success is best achieved collectively.

Martin Babinec: How did the Give First approach help you during the difficult period after the dot-com bubble burst?

Brad Feld: I experienced a rough period during what I call the grind from 2002 to 2005. Many companies struggled due to a lack of sustainable business models and funding issues. Yet, the network I had built was invaluable. I was not alone; many founders were facing similar hardships. The energy from that network helped me tackle challenges with honesty. Rather than feeling isolated, I found strength in sharing ideas and resources. Working with founders who were also learning from their failures proved that the collective support was key to surviving and eventually thriving, even when the market was harsh.

Martin Babinec: Your conversation reveals the value you place on non-transactional relationships. Can you give an example from your career where this approach made a real difference?

Brad Feld: I recall a time when I was handling multiple financial relationships simultaneously. I was receiving check after check for consulting, yet that structure felt burdensome. I decided to remove the financial element from these interactions. Instead of collecting monthly fees, I continued to offer my help freely. This change lifted the pressure and allowed more creative and supportive exchanges. As a result, the referrals and advice I provided led to increased business for others and a richer network for myself. It illustrated perfectly that when you remove transactional constraints, the value of your efforts multiplies.

      The key ideas behind this approach include:

1. Creating genuine relationships without financial strings attached.

2. Allowing creativity and openness in professional interactions.

3. Building an environment where success is a shared journey. 

      This example confirms that removing direct financial obligations can actually enhance overall value.

Martin Babinec: A memorable part of your journey was the short meeting with David Cohen that led to the creation of Techstars. How did that encounter unfold?

Brad Feld: I had set aside one day each month for quick fifteen-minute meetings with anyone who wanted to talk. That structured day allowed me to listen to many ideas in a focused setting. During one such session, David Cohen presented a brief note outlining his idea for an accelerator program. In just a few minutes, his explanation struck a chord with me. I immediately saw the potential. I made a few phone calls right after our meeting to rally support and match some early commitments. In less than ten minutes, that brief encounter set the stage for what would later evolve into Techstars. It stands as a reminder that sometimes a short conversation can spark significant change.

Martin Babinec: Today, Techstars is a global program with thousands of companies under its wing. What does that achievement mean for you?

Brad Feld: Seeing Techstars grow to support over 4,000 companies globally has been incredibly rewarding. I take pride in knowing that a brief exchange of ideas helped launch something of that magnitude. The idea behind Techstars was to foster a network where founders can share their challenges and successes freely. It started on a small scale in Boulder and gradually expanded internationally. The program now includes renowned companies like PillPack and DigitalOcean, among many others, which demonstrates that supporting early founders can have far-reaching effects.

      In summarizing this part of the journey, the important points are:

• A single meeting can be the seed of a large idea.

• Support among founders can create lasting impact.

• Success is often built on the willingness to invest in others. 

      These lessons reinforce the importance of sharing experiences and extending help without expecting immediate return.

Martin Babinec: As someone involved in emerging markets like upstate New York, what advice do you have for entrepreneurs who lack role models and capital?

Brad Feld: The first step is to build and maintain a network. When founders come together, they share not only their wins but also the challenges. This openness creates a strong support system. Even if funding is scarce, a community can offer mentorship, ideas, and connections that might open doors in the future. Additionally, embrace the learning process. Each setback is a chance to try a new strategy. Focus on connecting with peers who can openly discuss both successes and failures. This approach will help create a cycle that benefits everyone involved.

Martin Babinec: To wrap up, what are your final thoughts for fellow founders and aspiring entrepreneurs?

Brad Feld: I encourage founders to focus on relationships, not just transactions. Look at every mistake as a learning opportunity. The journey of creating a company is filled with ups and downs. What matters is that you keep learning and keep connecting with others on the same path. Give First is a way to build a network that grows stronger with every turn. It is not about immediate rewards but rather about investing in people over many iterations. Over time, these investments come back as collective strength and wisdom.

      In conclusion, Brad Feld’s journey teaches that success is as much about the relationships you nurture as it is about the milestones you achieve. His story is a reminder to all entrepreneurs to build networks, share openly, and above all, put energy into helping others without keeping score.

      As the session drew to a close, Feld invited the audience to send in questions for further discussion. His parting advice resonated with everyone: keep building connections and remember that the journey of entrepreneurship is a multi-turn game where each effort adds to the collective progress.