Networks Have No Value On Their Own | 4 Tips from Anna Barber (M13)

When CoEfficient Labs first started discussing our own podcast, one of the things that excited us most was the opportunity to meet incredible VCs and founders. On episode 2 of our Demo Day Podcast, we hosted Anna Barber— former Managing Director of Techstars LA (she has since made a big jump to M13!)— whose keen eye and passion for growing the best young startups in LA serves as a major inspiration for us.

Who better than Anna to speak to our audience in the startup community and beyond?

Tune in to learn about Anna’s unconventional path to becoming a founder and venture capitalist. Here are some of our biggest takeaways, and please write in the comments with yours!

1. Big Companies Innovate Too 

Anna mentioned that within the startup community there is an idea that “big companies are slow and people aren’t innovating,” but that’s not necessarily true. 

While at McKinsey, she learned about the “pressure of being inside a big company” and having to innovate when the public is watching your market cap and competitors come for you.

Sure, startups set out to unseat the incumbent, like Uber coming for cab companies, or AirBnB threatening hotel chains— but for the big public companies to stay at the top, innovation is key. 

She mentions how “pivots are not restricted to flexible startups”, and we can learn from the big dogs — look at McDonalds rolling out all-day breakfast, or Apple’s wearables business booming after making what seemed like a crazy leap in getting rid of the headphone jack.

Don’t fall into an infatuation trap of only drawing inspiration from hot startups. Instead, take time to learn from the best and biggest out there.

2. Being Yourself Brings You To The Top 

Founders often try the “fake it til you make it” strategy, and then end up down the road with a deep case of imposter’s syndrome.

When Anna heard about the Techstars LA director position, she wasn’t deeply involved in the LA tech community, and didn’t have the kind of network she thought she needed to get the job. Even though through interviews it felt like the perfect job, she didn’t think she’d get it.

But Anna didn’t try to fake qualifications. 

Instead, she “kept showing up, and being myself, and being authentic, and at the end of the process, I got the job.” 

If you’re pitching investors who see hundreds of founders a year, they’re going to see through your BS right away. Be yourself— that’s what got you this far, and that’s what will take your startup all the way through. 

3. The Ability to Learn Is the Most Important Skill 

“Coding” and “great leadership” are nice and all, but what’s the most important core skill of a great team member? 

Learning.

When discussing how she helps young startup founders break through barriers, Anna stated that she is most comfortable on a steep learning curve, and that the skill for learning is the most important core skill. It’s about admitting when you don’t know something, but phrasing it as, “I don’t know about that yet.”  

The “yet” is where our optimism and confidence comes in. 

Founders are always going to encounter problems that they didn’t expect— that’s the name of the game — but by approaching the problem with a learning mindset, a beginner’s mindset, we can always find a way to innovate and break through the wall. 

4. Networks Have No Value On Their Own 

You can’t read about Techstars without reading about the strength of their network. 

And all of us in the startup community know that we’re supposed to be out there on nights and weekends, shaking hands, clinking glasses, and collecting business cards. This is all with the goal of “building your network.”

But when asked to explain the value of the Techstars network, Anna said that, “the network as this amorphous thing doesn’t have any value, it only has value when you access it.” We can take Anna’s thoughts on networks into both our professional and private lives. 

If there’s an old boss you learned a lot from, send them a note asking what they’ve been up to. When you need a favor or have a business question later on, they’ll be there for you if you’ve kept in touch. 

If you have friends you haven’t spoken to in a while, call them up, keep them close. Do not let your connections wither on the vine; it might be friends you need most of all in the toughest days of your entrepreneurial journey. 

Want to Learn More?

Anna has plenty to share—including her cross-country move, transitioning from law to tech, how to master storytelling, and more. Listen now on Apple Podcasts, Spotify, or our Demo Day Website.