How an Entrepreneur Gets Advice From Peer Support Network
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Description


In Chapter 5 of 17 Internet entrepreneur and SimpleGeo CTO Joe Stump shares where he seeks advice and help from friends and how this is changing as his company grows. Whenever Stump has a big decision to make, he consults his "Jedi Council", a group of friends and family who know him well. Stump values multiple perspectives from different people, including his dad, and over time adds new members as his needs change. This includes investment professionals and legal contacts.

Transcript


Erik: Where do you seek help and advice from friends and how is that process changing as you build a company? Joe: So, whenever I have a major decision to make, I consult what I call the Jedi Counsel. And the Jedi Counsel is actually a group of very close friends that have known me for varying degrees of time and also from different kind of walks of life. I think it’s important when I do ask for advice that the people that I’m asking for advice will be attacking the question from different angles. So, the advice that I get from my dad, for instance, sometimes will be completely – well, almost all the time completely different than a lot of other people. Because he’s known me my entire life, he works in a completely different industry, had a very different upbringing, that kind of stuff. The only thing that has really changed is that I have new members in the Jedi Counsel. I people from the investing world that I trust now to ask investing type questions, how to structure deals, that type of thing. I have a couple of lawyer friends now and I’m able to ask them questions and they’ll answer on kind of a legal level. So, I think as far as where I go to seek advice and how I apply that and how that’s changed, it’s almost exclusively is now kind of business and entrepreneurial kind of focused, with regards to the company. I still ask other people and still rely pretty heavily on their advice, but I’m really big on when I do ask for advice that I ask people that have been there before in some way. So… that ‘s probably how it’s changed the most.