Episode 7: How to Compete When the Rules Keep Changing with Philip Gaskin

Episode Summary

Entrepreneurs can’t succeed in isolation—they need robust support systems to grow, thrive, and create lasting impact. In this episode, host Justin Charles speaks with Philip Gaskin, Impact Architect, Brand Ambassador, and Executive Advisor to innovative organizations and non-profits, about what it truly takes to build strong, inclusive business ecosystems.

Philip shares his insights on the essential elements that help entrepreneurs flourish: access to capital, mentorship, community networks, and policy environments that foster innovation and equity. Together, they explore how cities across the United States are reimagining their local economies by intentionally connecting people, resources, and funding to uplift small businesses—especially those led by founders from historically marginalized communities.

This episode digs into real examples of how public, private, and nonprofit sectors are collaborating to remove barriers and unlock opportunity. It’s not just about launching businesses—it’s about building systems that make entrepreneurship more accessible, sustainable, and impactful for everyone.

Whether you’re an aspiring founder, a community leader, or someone passionate about economic equity, this conversation offers a powerful reminder: when ecosystems are strong, entrepreneurs don’t just survive—they help transform entire communities.

Key Topics Discussed

• Barriers to entrepreneurship
  Philip shared how entrepreneurs must compete for basic resources like funding, mentorship, and respect, drawing from his father’s struggles as a small business owner facing systemic inequities tied to race, credit, and geography.
• U.S. competitiveness in decline
  The U.S. falling out of the top 10 in global competitiveness reflects gaps in government and business support, creating delays and bottlenecks that threaten small business survival.
• Lack of traditional financial access
  Since most new businesses can’t rely on banks or venture capital, entrepreneurs often turn to family, personal debt, or predatory lending, which makes sustaining businesses even harder.
• Barriers for marginalized founders
  Women, Black, and other entrepreneurs of color face consistent biases in lending and venture capital, leading many to leave entrepreneurship after exhausting their options.
• Three key steps for entrepreneurs
  Success comes from identifying a unique value proposition, creating strong customer experiences, and building partnerships that expand capacity and resilience.
• Examples of partnerships
  Effective collaborations across philanthropy, civic groups, and businesses—such as shared ownership of retail space—demonstrate how partnerships can reduce barriers and strengthen survival.
• Advice to entrepreneurs
  Philip emphasized that entrepreneurship can be isolating, but finding networks and reframing autonomy as empowering can help founders stay hopeful and resilient.
• Recommendations for funders, governments, and ecosystem builders
  Cross-sector collaboration, faster funding processes, and reducing systemic bottlenecks are crucial steps to better support entrepreneurs and rebuild competitiveness.