Introduction
In the world of modern entrepreneurship, tech, and business culture, Summit has become a household name. But what exactly is Summit, and how did it come to be? "Make No Small Plans" by Elliott Bisnow and his co-founders tells the fascinating story of how a group of young entrepreneurs turned a simple idea into a global phenomenon.
The book takes us on a journey through the inception, growth, and philosophy of Summit, an event company that has become known as the "Davos for young entrepreneurs." It all started with a fundamental belief: great things happen when you bring people together and get them talking. This idea, while not entirely new, was applied in a fresh and innovative way that would change the landscape of networking and collaboration for a new generation of entrepreneurs.
In 2008, four 20-something entrepreneurs with limited experience and only two college degrees between them decided to put this belief into action. What began as a modest ski trip in Utah with just 19 guests has since evolved into a series of world-renowned events featuring speakers like Jeff Bezos, Richard Branson, and Al Gore.
Throughout this summary, we'll explore the key ideas and principles that have guided Summit's growth and success. We'll look at how passion, authenticity, questioning the status quo, creating memorable experiences, and fostering an open-minded culture have all played crucial roles in shaping the company. By the end, you'll have a clear understanding of the Summit story and the valuable lessons it offers for aspiring entrepreneurs and business leaders.
The Power of Passion
One of the central themes in "Make No Small Plans" is the importance of passion in entrepreneurship. The authors challenge the common saying, "Do something you love and you'll never work a day in your life," offering a more nuanced perspective on the relationship between passion and work.
Redefining the Role of Passion in Work
The book argues that passion doesn't necessarily make work easy or effortless. Instead, it suggests that passion drives you to dig deeper, strive for perfection, and push through the challenging aspects of your chosen field. When you're truly passionate about something, you become more attuned to its complexities and more critical of your own performance.
For example, if you're passionate about playing tennis, you'll willingly spend hours practicing your backhand, even though it might be tedious. If you love coding, you'll push through the frustration of debugging your hundredth website because you care about the end result. It's this care and interest that fuels the hard work necessary for success.
Passion as a Driving Force
The Summit founders demonstrate throughout the book how their passion for bringing people together and fostering meaningful connections drove them to overcome numerous obstacles. Even when faced with financial constraints, logistical challenges, or skepticism from others, their unwavering belief in their mission kept them going.
This passion isn't just about enjoying what you do; it's about finding meaning in your work. When your work aligns with your values and contributes to your authentic goals, even the difficult parts become worthwhile. The authors emphasize that if you truly care about what you're doing, you'll be willing to put in the hard work day after day.
The Balance of Passion and Practicality
While the book champions following your passions, it also stresses the importance of balancing enthusiasm with practicality. The Summit founders didn't blindly chase their dreams without consideration for the risks involved. Instead, they found ways to pursue their passions while still maintaining a safety net.
This balanced approach allowed them to take calculated risks and learn from their experiences without putting everything on the line. It's a valuable lesson for aspiring entrepreneurs: passion is essential, but it must be tempered with wisdom and strategic thinking.
Authenticity and Smart Risk-Taking
Another key theme in "Make No Small Plans" is the importance of authenticity in entrepreneurship, coupled with a smart approach to risk-taking. The book illustrates this through the personal story of Elliott, one of Summit's founders.
Discovering Authentic Interests
The narrative takes us back to 2008, when Elliott was a college student feeling unfulfilled and sensing that something was missing from his life. In a pivotal moment, he realizes that he doesn't want to follow the conventional path of studying predefined problems and competing for traditional jobs. Instead, he discovers his authentic interest in entrepreneurship – in setting and solving his own problems.
This realization is presented as a crucial step in Elliott's journey. The book emphasizes that identifying your authentic interests is the first step towards a fulfilling career and life. It encourages readers to ask themselves, "What am I truly interested in?" and to pay attention when the answer presents itself.
Balancing Authenticity with Practicality
However, the book doesn't advocate for rash decisions in the name of authenticity. When Elliott considers dropping out of college to pursue his entrepreneurial dreams, his father offers sage advice about managing risk. The lesson here is clear: while it's important to follow your authentic interests, it's equally important to do so in a way that doesn't unnecessarily jeopardize your future.
The book suggests a middle ground: pursuing your passions while maintaining a safety net. For Elliott, this meant staying in college while starting to sell ads for an online newsletter in his spare time. This approach allowed him to gain valuable experience and skills without putting all his eggs in one basket.
The Power of Small Steps
"Make No Small Plans" emphasizes that acting authentically doesn't mean making dramatic, all-or-nothing moves. Instead, it's about taking small, consistent steps towards your goals. The book encourages readers to start by identifying their interests, then making time to actively engage with those interests – whether it's through taking a class, getting a certificate, or simply dedicating time to practice.
This gradual approach allows for exploration and growth without overwhelming risk. It's a strategy that the Summit founders used to build their company, starting with small events and gradually scaling up as they gained experience and resources.
The Importance of Adaptability
While staying true to your authentic interests is crucial, the book also highlights the importance of being adaptable. The Summit founders' journey wasn't a straight line from their initial idea to success. They had to adjust their plans, learn new skills, and pivot their approach multiple times along the way.
This flexibility, combined with their commitment to their core vision, allowed them to navigate challenges and seize unexpected opportunities. It's a reminder that authenticity isn't about rigidly sticking to a predetermined path, but about staying true to your values and interests while being open to new ways of pursuing them.
Questioning the Status Quo
A significant factor in Summit's success, as detailed in "Make No Small Plans," was the founders' willingness to question existing ways of doing things. This approach led them to identify a gap in the market and create a unique solution.
Recognizing the Problem with Traditional Networking
The book describes the founders' frustration with traditional networking events. These events, typically held in crowded hotel lobbies, were characterized as chaotic, impersonal, and focused on short-term, transactional interactions. The environment encouraged superficial connections rather than meaningful relationships.
The Summit founders recognized that this approach was at odds with how truly successful networking actually works. They understood that the best business relationships are built over time, nurtured through genuine interest and care, rather than quick exchanges of business cards.
Envisioning a Better Alternative
This realization led to a crucial question: Why wasn't there a forum that encouraged deeper, more meaningful connections among entrepreneurs? The Summit founders saw an opportunity to create a space where entrepreneurs could meet, engage in substantive conversations, and build lasting relationships.
Their vision was to bring together passionate, interesting people in a more relaxed and conducive environment. They wanted to create an experience that was the opposite of the typical networking event – one that allowed for real conversations to unfold organically over an extended period.
The Birth of Summit Series
This questioning of the status quo led directly to the creation of Summit Series. The founders booked a house near Utah's ski slopes and invited a small group of young entrepreneurs for a three-day, all-expenses-paid trip. This format allowed for a mix of activities and conversations, creating natural opportunities for connections to form.
The success of this initial event validated their hypothesis: there was indeed a hunger for a different kind of networking experience among young entrepreneurs. It demonstrated that by questioning the established norms and thinking creatively, it was possible to create something truly innovative and valuable.
Timing and Context
The book also highlights the importance of timing in entrepreneurship. The founders launched Summit Series just as the digital economy was beginning to take off in the wake of the 2008 financial crisis. New startups were emerging, reimagining various industries, but there was no real forum for these entrepreneurs to connect and collaborate.
By questioning the status quo at the right moment, Summit was able to position itself as a bridge connecting these isolated "islands" of entrepreneurial activity. This timing played a crucial role in the company's rapid growth and success.
Continuous Innovation
The spirit of questioning the status quo didn't end with the creation of Summit Series. Throughout the book, the authors describe how they continually looked for ways to improve and innovate their events. From the choice of venues to the selection of speakers and activities, they consistently sought to challenge conventions and create unique, valuable experiences for their attendees.
This ongoing commitment to questioning and improving demonstrates that innovation isn't a one-time event, but a continuous process. It's about constantly asking how things can be done better, more effectively, or in a more meaningful way.
Creating Memorable Experiences
A key factor in Summit's success, as described in "Make No Small Plans," was the founders' commitment to creating truly memorable and unique experiences for their attendees. This approach set Summit apart from traditional conferences and networking events, and played a crucial role in building the company's reputation and community.
The Importance of Atmosphere
The book emphasizes that while having interesting and nice guests is crucial, it's not enough on its own to make an event truly special. The environment, staging, and overall atmosphere play a vital role in creating a memorable experience.
This realization came partly from a conversation with an eccentric chef in Los Angeles, who told the founders that they needed to "keep it surreal" rather than just "keeping it real." This advice pushed them to think beyond conventional event planning and to create immersive, unique experiences that would leave a lasting impression on attendees.
Summit at Sea: A Game-Changing Event
The pinnacle of this approach was Summit at Sea, an event where the founders chartered an entire cruise ship, filled it with over a thousand interesting guests, and sailed around the Bahamas for three days. This event exemplified their commitment to creating surreal, unforgettable experiences.
Summit at Sea featured a diverse range of activities and amenities:
- Meals prepared by young, innovative chefs
- Live music performances on multiple decks
- Intimate spaces with comfortable furnishings for deep conversations
- Meditation sessions
- Conferences on a wide range of topics, from cryptocurrency to conflict resolution
- Bars, pools, and DJ sets
This multifaceted approach ensured that there was always something engaging happening, catering to a variety of interests and creating numerous opportunities for meaningful interactions.
The Impact of Memorable Experiences
The book illustrates how these unique, immersive experiences facilitated connections and collaborations that might not have occurred in more traditional settings. For example, it mentions that Qwiki, an iPhone video-sharing app that was later sold to Yahoo for $50 million, was conceived at a Summit event. Similarly, the $100 million wristwatch health-tracker company Basis secured its first round of major investment at another Summit event.
These success stories underscore the power of creating the right environment for innovation and collaboration. By taking people out of their usual contexts and immersing them in a unique, stimulating environment, Summit was able to catalyze creativity and foster unexpected connections.
Evolving the Experience
The success of Summit at Sea marked a turning point for the company. After 2011, Summit events became larger, more extravagant, and increasingly surreal. The founders continued to push the boundaries of what an event could be, always striving to create experiences that would surprise and inspire their attendees.
This commitment to continuous innovation in experience design helped Summit maintain its appeal and relevance even as it grew. It allowed the company to stay true to its core mission of fostering meaningful connections while constantly offering something new and exciting to its community.
The Balance of Content and Experience
While the book emphasizes the importance of creating memorable experiences, it also highlights that these experiences weren't just about spectacle. The content of the events – the speakers, the workshops, the discussions – remained crucial. The unique settings and activities served to enhance and facilitate engagement with this content, rather than overshadowing it.
This balance between substantive content and immersive experience became a hallmark of Summit events. It allowed attendees to engage with important ideas and make valuable connections while also enjoying themselves and creating lasting memories.
Fostering an Open-Minded Culture
A crucial element of Summit's success, as detailed in "Make No Small Plans," was the company's commitment to fostering a culture where no idea goes unspoken. This open-minded approach to ideas and innovation played a key role in the company's ability to continually evolve and create unique experiences.
The Democratization of Ideas
The book emphasizes that great ideas can come from anywhere, regardless of a person's status or position. The Summit founders believed that interns could have brilliant ideas just as CEOs could have terrible ones. This egalitarian approach to ideas created an environment where everyone felt empowered to contribute.
By giving everyone a fair hearing, Summit was able to tap into a diverse pool of creativity and innovation. This approach not only led to better ideas but also fostered a sense of ownership and engagement among team members at all levels.
Quantity Leads to Quality
Another key aspect of Summit's idea culture was the emphasis on generating a large quantity of ideas. The book argues that it's only by getting all ideas out in the open that you can find the truly good ones. This approach encourages people to share their thoughts freely, without fear of judgment or ridicule.
The Summit founders understood that not every idea would be a winner, but they believed that the more ideas they considered, the more likely they were to stumble upon something truly innovative. This philosophy created an environment where creativity could flourish and where seemingly crazy ideas could be given serious consideration.
Embracing "Crazy" Ideas
The book provides several examples of how this openness to unconventional ideas led to some of Summit's greatest successes. For instance, the idea of chartering an entire cruise ship for an event initially seemed outlandish, but it ultimately became one of Summit's most iconic and successful ventures.
This willingness to engage with and seriously consider seemingly crazy ideas allowed Summit to push boundaries and create truly unique experiences. It also helped the company stay innovative and ahead of the curve in an increasingly competitive event industry.
Creative Problem-Solving
The open-minded culture at Summit also fostered creative problem-solving. The book recounts how the founders managed to secure Jeff Bezos as a speaker without paying an exorbitant fee. Instead of dismissing the idea as impossible due to budget constraints, they thought creatively about what they could offer Bezos that money couldn't buy.
Their solution was to offer Bezos a platform to tell his story to a large, influential audience. This creative approach, born out of their culture of open-mindedness and idea generation, allowed them to achieve something that seemed impossible at first glance.
Continuous Innovation
By maintaining this culture of openness to new ideas, Summit was able to continually innovate and evolve. The book describes how the company's events grew larger and more elaborate over time, always pushing the boundaries of what was possible.
This commitment to innovation helped Summit stay relevant and exciting, even as the company grew from a small startup to a major player in the event industry. It allowed them to consistently offer unique experiences that kept their community engaged and growing.
Balancing Openness with Practicality
While the book champions this open-minded approach to ideas, it also acknowledges the need for practicality. Not every idea can be implemented, and part of the process involves evaluating ideas for feasibility and alignment with the company's goals and values.
The Summit founders developed the ability to quickly assess ideas, giving each one fair consideration while also being able to move on quickly from those that weren't viable. This balance of openness and practicality was crucial to their success, allowing them to innovate while still running a sustainable business.
Lessons for Aspiring Entrepreneurs
Throughout "Make No Small Plans," the Summit founders share numerous insights and lessons that can be valuable for aspiring entrepreneurs. Here are some of the key takeaways:
1. Follow Your Passion, But Be Practical
The book emphasizes the importance of pursuing work that aligns with your interests and values. However, it also stresses the need to balance this passion with practical considerations. The Summit founders demonstrate how to chase your dreams while still maintaining a safety net and managing risk.
2. Question the Status Quo
One of the most powerful lessons from the Summit story is the value of questioning existing ways of doing things. By identifying problems with traditional networking events, the founders were able to create a unique and valuable alternative. Aspiring entrepreneurs are encouraged to look for areas where current solutions are inadequate and to think creatively about how to address these gaps.
3. Create Memorable Experiences
Summit's success was largely built on its ability to create unique, immersive experiences for its attendees. The book highlights the importance of going beyond the basics and striving to create something truly memorable. This principle can be applied across various industries – it's about finding ways to make your product or service stand out and leave a lasting impression.
4. Foster an Open-Minded Culture
The Summit founders attribute much of their success to their commitment to hearing out all ideas, regardless of where they come from. This open-minded approach to innovation can be a powerful tool for any startup. It encourages creativity, empowers team members, and can lead to breakthrough ideas that might otherwise never see the light of day.
5. Build Meaningful Relationships
At its core, Summit is about fostering connections between people. The book emphasizes the value of building genuine, long-term relationships rather than focusing on short-term, transactional interactions. This approach to networking and relationship-building can be beneficial in any business context.
6. Embrace Continuous Innovation
The Summit story is one of constant evolution and improvement. The founders never rested on their laurels, always looking for ways to make their events bigger, better, and more impactful. This commitment to continuous innovation is a valuable lesson for any entrepreneur looking to build a lasting business.
7. Balance Vision with Flexibility
While the Summit founders had a clear vision of what they wanted to achieve, they also remained flexible and open to new opportunities. This balance allowed them to stay true to their core mission while adapting to changing circumstances and seizing unexpected opportunities.
8. Leverage Unique Value Propositions
The book illustrates how Summit was able to attract high-profile speakers and partners by offering unique value propositions. For example, they secured Jeff Bezos as a speaker not by offering a large fee, but by providing a platform for him to tell his story. This creative approach to negotiations and partnerships can be a powerful tool for startups with limited resources.
9. Timing Matters
The Summit founders launched their company at a time when the digital economy was just taking off, filling a gap in the market for connecting young entrepreneurs. This underscores the importance of being aware of broader trends and timing your venture to capitalize on emerging opportunities.
10. Start Small, Think Big
While the book is titled "Make No Small Plans," it also shows how the Summit founders started with relatively small events and gradually scaled up. This approach allowed them to learn, refine their model, and build their network over time. It's a reminder that while it's important to have big ambitions, it's often wise to start with manageable steps.
Conclusion
"Make No Small Plans" is more than just the story of Summit's rise to prominence in the world of entrepreneurship and networking. It's a testament to the power of passion, innovation, and human connection in the business world.
The book offers a wealth of insights for aspiring entrepreneurs and business leaders. It demonstrates how questioning the status quo and thinking creatively can lead to groundbreaking ideas. It shows the value of creating memorable experiences and fostering an open-minded culture that encourages innovation. And perhaps most importantly, it underscores the power of bringing people together and facilitating meaningful connections.
The Summit founders' journey from a small ski trip to hosting world-renowned events is inspiring, but it's also instructive. Their success wasn't just about having a good idea – it was about relentless execution, continuous innovation, and a willingness to take calculated risks. They balanced their grand vision with practical considerations, started small but thought big, and remained flexible enough to seize unexpected opportunities.
One of the most powerful takeaways from the book is the importance of authenticity in business. The Summit founders built their company around their genuine interests and values, creating events that they themselves would want to attend. This authentic approach resonated with their audience and helped build a loyal community around their brand.
The book also highlights the changing nature of networking and collaboration in the digital age. Summit recognized early on that traditional networking events weren't meeting the needs of a new generation of entrepreneurs. By creating a more immersive, meaningful alternative, they not only built a successful business but also facilitated countless connections and collaborations that have had far-reaching impacts.
As we look to the future, the lessons from "Make No Small Plans" remain relevant. In a world where technology is constantly changing how we work and connect, there will always be a need for human-centered approaches to business and networking. The Summit story shows how combining innovative thinking with a focus on genuine human connections can create something truly special.
For readers of this book, the challenge is clear: don't be afraid to question the way things are done, to think creatively about solutions, and to pursue your passions. But also remember to balance your grand visions with practical considerations, to start small while thinking big, and to always be open to new ideas and opportunities.
In the end, "Make No Small Plans" is a call to action. It's an invitation to think differently about business, about networking, and about what's possible when passionate people come together. Whether you're an aspiring entrepreneur, a business leader, or simply someone interested in the power of human connection, this book offers valuable insights and inspiration for the journey ahead.