Summary
Welcome to another episode of the Startup Junkies Podcast!
In this episode, Caleb Talley and Jeff Amerine talk with Lynn Butterfield, a nationally recognized expert in equity capital and investing services. Lynn has been quoted by platforms such as Newsweek and ABC News, and he has consulted for companies from across the globe. Lynn discusses his time working in the Middle East, growing entrepreneurial hotspots, and his predictions for Northwest Arkansas. Thanks for tuning in!
Shownotes
(1:00) Introducing Lynn Butterfield
(5:08) Entrepreneurship occurring in unexpected places
(9:34) The University’s impact on an entrepreneurial ecosystem
(21:11) Lynn’s Northwest Arkansas plans
(24:43) Advice for the younger self
(26:07) Wrap up
Links
Quotes
“Money is important, make no doubt about it, but what’s more important than the money is the network that has access to capital.” (11:10)
“The important thing is sitting around a table and getting to know each other and listen to the way they answer questions.” (11:27)
“If you don’t have all the ingredients and you have a great chef, you can’t make a great pie.” (18:23)
Blog
On this week’s episode of the Startup Junkies Podcast, Lynn Butterfield joined Caleb Talley and Jeff Amerine to discuss Lynn’s successful career as an entrepreneur.
In the late 1980s, Lynn lived and worked in the Gulf Region of the Middle East before fleeing back to the States when Iraq invaded Kuwait in the early 1990s. His time overseas provoked an idealistic awakening with Lynn. Throughout his time as an ex-pat, he couldn’t help but notice that the Saudi Arabian government was working to diversify its primarily oil-based economy.
When Lynn arrived back in the United States, he moved to Utah and started a new company, which is how he got involved with the Wayne Brown Institute. His experience with the entrepreneurial organization showed him how one could improve the human condition through technological entrepreneurship.
During Lynn’s time in Utah, he saw the economy grow from one that was founded in mining and agriculture to one that was based on technology. He was involved as the atmosphere of Salt Lake City evolved. No longer was the region an afterthought or a flyover state; it was an entrepreneurial hotspot.
Salt Lake City became a haven for tech startups to find the talent and capital they needed to scale. Lynn credits this to a community that saw the vision and moved forward to accomplish something grand. It was not merely a single great thinker or entrepreneur that transformed the region, but a network of investors, talented individuals, and remarkable ideas.
“Money is important, make no doubt about it, but what’s more important than the money is the network that has access to capital.” (11:10)
Now that Lynn has moved to Northwest Arkansas, he sees an entrepreneurial community that is ripe for a similar trajectory. Here in Norwest Arkansas, there is no shortage of capital, and the network is being built to connect entrepreneurs with resources.
“We have everything here in NWA, what an opportunity!” (18:27)
The University of Arkansas has played a significant role in feeding the region’s entrepreneurial ecosystem, and there are plenty of successful corporations to provide resources for the young entrepreneurs that the University provides. After all, it is beneficial to Walmart, JB Hunt, and Tyson if their local economy and community are thriving.
Lynn plans to spend his time in Northwest Arkansas continuing to work with Startup Junkie to help the community reach its full potential. With his experience in Salt Lake City, as well as time spent observing other entrepreneurial hotspots like Austin, Texas, Lynn is equipped with the know-how to make a monumental impact.
“I want to spend time building and helping early entrepreneurs and mentor them.” (21:14)
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