When the Entrepreneurship Prof Becomes a Founder
Several founders in Beta’s spring 2024 accelerator for early-stage startups did a double take when Alec Johnson walked into the kickoff meeting.
Johnson was there for his new venture North Star Valor, a nonprofit dedicated to serving combat-wounded veterans by offering immersive experiences with nature and art as a form of alternative therapy. But most people in the Twin Cities startup scene know him as Professor Johnson, a longtime faculty member at the University of St. Thomas Opus College of Business, where he’s taught entrepreneurship for 24 years.
“Several Tommies who had been my students were like, ‘what are you doing here?’” Johnson says with a laugh. “I was a bit of a duck out of water as the only nonprofit, non-tech startup. But it pushed me to think about how I articulate my value proposition.”
Ever the academic, Johnson is studying the startup process even as he goes through it. Here are a few of his early insights.
Find partners. “They’ll keep you accountable. I write a weekly progress report and email it to everyone who has been a mentor or offered me advice.”
Build relationships with investors. “It’s a bit like dating. You need to learn all of their weaknesses and strengths; you need trust and communication before you put a ring on it.”
Beware the liability of newness. “It’s not just getting the word out about your venture; you need a referral network, and that can take time and effort to build.”
Get past visionary. “Big ideas can be overwhelming to think about and execute upon. You can’t learn to be a visionary. You can’t teach it. But you can look at a problem and break it down so you know where to start.”
