76. Balancing Financial and Service Opportunities by Giving Back with Dan Sutera

I met Dan Sutera through the not-so-secret organization The Society, founded by Neil Strauss. If you haven’t heard of him, Dan is the cofounder and President of Futurism.com, the founder of ShareFile (later acquired by Citrix), and Vice-President of Product at Yext. In fact, he’s a six-time entrepreneur who has taken two tech startups from inception to Inc 500. In this conversation, we focus primarily on his new nonprofit, Impact Network, which runs 10 e-learning based schools in rural Zambia. It’s clear that Dan is deeply passionate about this field, and he shares both that passion and his technical knowledge about running nonprofits in this podcast. For him, it’s clear that there’s a bigger mission than just making a bunch of money, and the real question is what do you do with that money once you’ve made it. Find Out More About Dan Here: Dan Sutera on LinkedInsutera.com@DanSutera on Twitter In This Episode: [03:17] - We start things off by hearing about Dan’s background and how he made certain choices during his career, particularly as they relate to deciding between tech/financial and service opportunities. [05:08] - Dan discusses the process of founding Impact Network, and how he chose to split his time. He then touches on the differences between running a nonprofit and a for-profit business. [09:39] - What goes into trying to start a school or orphanage on your own -- and is there a “school in a box” system? [12:32] - Dan talks about sustainability once a school is built, both operational and financial. [13:32] - Accountability is another challenge of doing work in a foreign country. [15:57] - We hear more about the technology that Impact Network uses to keep track of various parts of its operations. [16:51] - Why the focus on e-learning instead of using the state’s curriculum? [20:17] - Dan clarifies that Impact Network follows the state’s curriculum, but does it in a more engaging way. He then emphasizes the importance of respecting the local culture and adapting your curriculum to each country. [21:48] - We hear about the financial details of building and running a school. [24:46] - Dan discusses the grant-writing and fundraising side of things. [27:07] - Chefs for Impact is Impact Network’s fundraising event, and here Dan gives us more details about it. [28:41] - At this point, Dan is mostly working on his for-profit things, because the nonprofit team is strong enough that he doesn’t need to be fully involved in the day-to-day matters. [30:26] - How do you find partners? [31:38] - Stephan shifts topics a bit, asking, “How do you go from startup to acquired company?” [33:11] - Dan speaks to his big “why” at Futurism. [35:38] - We hear more about Futurism, including the initial challenge of driving people to the site compared to its current organic growth. [37:53] - Dan talks a bit about Singularity University’s Executive Program. [39:28] - What are Dan’s favorite exponential technologies, or the ones he’s most excited about? In his answer, Dan discusses augmenting intelligence in some depth. He then moves on to talking about augmented reality (AR). [44:22] - What next step would Dan recommend people take? Get Optimized! Sit down with a piece of paper and jot down your thoughts on how you’re balancing your financial goals with your service goals. Is there room for improvement or change? Make a list of at least 10 service ideas that you find interesting, compelling, and meaningful. These can involve giving time, money, or a combination. From your list ideas, choose your favorite service opportunity and complete it at regular intervals (such as weekly). This ensures it’s ongoing, meaningful service rather than a one-time event. Links and Resources: Dan Sutera on LinkedInsutera.com@DanSutera on TwitterThe SocietyNeil StraussFuturism.com ShareFileYextImpact NetworkMethodologeeChefs for ImpactSingularity University (and its Executive Program)Elon MuskMagic LeapNexus by Ramez Naam