Producing major events is big business. Major events, particularly multi-day, indoor and outdoor programs, have become such important economic drivers to cities and their surrounding regions that they have their own category now, known as the “Festival Economy.”
In Austin and other creative class cities, these festivals span a wide-range of themes, together composing year-round calendar of activity. It’s also a business of ever-evolving tastes, with endless segmentation and differentiation, offering choice to event attendees.
Ultimately, though, every major event, like South-by-Southwest Interactive (SXSW) or the Global Mobile Internet Conference (GMIC), starts out as a new venture, with a dedicated team of entrepreneurs bringing their vision and passion to life.
Hugh Forrest, the director of SXSW Interactive, and Barrett Parkman, a founding member of the GMIC team, are both veterans of the start-up event. They both recently contributed their thoughts on keys to success and lessons learned, worth sharing with new entrepreneurs.
Among Hugh’s lessons are how to transition from an initial, founding team comprised of friends and personal connections to a more skilled, professionalized team that will help your venture transition from startup to sustained growth and profitability. He also talks about the vital quality of persistence, necessary for an entrepreneur to succeed.
Barrett’s lessons are focused on how to build a team and a culture, as the leader of an organization. He discusses practices for hiring as well as the importance of cultural fit for each employee that joins the company.
Please read their full contributions on The Community Edition. And, if you are an experienced entrepreneur, we invite you to add your lessons learned and personal reflections, as well.