Whether you’re launching a new venture or looking to take your business to the next level, Minnesota has a wealth of untapped opportunities waiting for you. From the bustling streets of Minneapolis to the breathtaking views of the North Shore, there’s a strong entrepreneurial spirit here – and with the right strategies, you can thrive.
Here are 10 game-changing strategies every Minnesota entrepreneur should try—#7 just might shift your perspective entirely.
1. Leverage Local Grants and Incentives
Minnesota provides various grants and incentives to give your small business a head start. Programs like the Minnesota Investment Fund or DEED (Department of Employment and Economic Development) offer financial support for businesses that create jobs or contribute significantly to the community.
Expert Tip: Check out the Launch Minnesota initiative that supports tech startups with grants, mentorship, and education opportunities. If you’re not exploring these programs, you’re leaving money on the table.
[Learn more about Minnesota grants here.]
2. Be Intentional About Networking
Networking in Minnesota isn’t just about showing up—it’s about where you show up. While traditional events like the Twin Cities Startup Week and local Chamber of Commerce meetups are staples, think about elevating your game with exclusive, high-value spaces. Consider groups like EO Minnesota (Entrepreneurs’ Organization Minnesota) or ProWeekend, which may require a membership fee but give you access to major players in the game.
Reilly’s Note: Most of my best deals? They weren’t from attending “every event”—they came from intentional conversations over coffee with someone I met through a referral. Build relationships that matter.
Also, don’t just think of networking as local. Check out BiggerPockets if you’re dipping into real estate—it’s a goldmine for connecting with investors. They have incredibly insightful forums and free tools.
3. Take Advantage of Real Estate Trends
Real estate isn’t just for developers; it’s a powerful strategy to diversify your entrepreneurial efforts. Whether you’re eyeing rental properties or dreaming bigger—like owning hotels—Minnesota has growing potential, especially with cities like Rochester and Duluth expanding significantly.
Reilly’s Example: When I started, I owned two boutique hotels in smaller Minnesota towns. Today, I’m entering fast food. Real estate gave me the leverage to pivot into new markets.
Want a fresh approach? Consider an Airbnb venture in high-tourism areas like the North Shore or Stillwater.
Pro Resource: Subscribe to the Minneapolis-Saint Paul Business Journal for real estate trends and developments—it’s one of the best ways to stay ahead.
4. Use College Connections Wisely
Minnesota is home to powerhouse institutions like the University of Minnesota, St. Cloud State, and Macalester College. These schools aren’t just talent pools—they’re entry points to innovative programs. Some of the coolest tech partnerships and startups have come from university incubators.
Try This: Reach out to Carlson School of Management at U of M. They run real-world business consulting programs via their students—imagine fresh ideas at zero cost. Or, tap into research grants if you’re working on a product innovation.
Offering an internship or mentorship program? Double down with companies like Handshake, where you’ll find future leaders before anyone else does.
5. Keep Your Business Tech-Savvy
No entrepreneur can stay relevant without keeping an eye on tech changes. Bookmark resources like Tech.mn, Minnesota’s go-to for local startup news and emerging tech trends.
Feeling ambitious? Innovators like Reilly Brennan swear by experimental methods. He recommends tuning into future-oriented podcasts like “Masters of Scale” or “How I Built This” for fresh perspectives.
If you’re a first-timer, use tools like Zapier or Notion to automate and streamline your processes. It’s your shortcut to productivity without overwhelming your team.
Pro Action: Install tools like Google Alerts for “AI tools for small businesses” or AI advancements in Twin Cities—it’s free intelligence for your next strategy pivot.
6. Go Beyond Social Media Basics
Minnesota is all about connection. While platforms like Instagram are essential for branding, try something different. Launch hyper-local campaigns by leveraging niche spaces like Nextdoor Ads or local community groups on Facebook. They’re surprisingly effective for small businesses targeting nearby zip codes.
Pro Content Idea: Showcase your personality. Give followers a behind-the-scenes look at your morning brew or call out a favorite Minnesotan brand that inspired you.
Bonus Idea: Host a virtual event showcasing your business on platforms like Crowdcast, pulling in audiences not just from Minnesota but throughout the Midwest.
7. Join Niche Investment Groups
Here’s a curveball you might not have thought of. Minnesota boasts some high-value networks designed to connect entrepreneurs with investors who actually invest.
Try This: Consider joining groups like Minnesota Angel Network—yes, it comes with a cost, but the folks you’ll meet are deep within the world of high-impact investments. If you’re serious about scaling, this is where the game changes.
Also Recommended: BiggerPockets again—investors and mentors on this platform often run state-specific meetups. Don’t just consume their resources; actually engage with their community forums.
The “funnel” idea isn’t creative—it works.
8. Invest in Yourself
Entrepreneurship is exhausting. Don’t just build your business—build your leadership.
Check out programs like Leadership Twin Cities, which dives into fostering innovative skills for regional leaders. Or, explore online tools like Coursera’s Business Leadership specialized tracks, tailored for entrepreneurs.
Take a class, join an online community, and learn how to inspire, not just manage, your team.
Insight: Successful Minnesota brands like Caribou Coffee started as small ideas but scaled because their leadership embraced transformation when needed.
9. Amplify Tourism Magic
Tourism in Minnesota generates billions annually. Add to that the rise of remote working, and you’ve got a hyper-local goldmine. Forget traditional hospitality—what about branded merchandise or micro-event tourism, like experiential kayaking tours?
Reilly’s Story: My hotels consistently cater to tourists drawn to high-profile river adventures or events at Split Rock. Your business might not be in hospitality, but there’s almost always a way to cater to visitors.
Pro Tip: Collaborate with Explore Minnesota Tourism to drive traffic your way—literally.
10. Sign Up for Local Events
Minnesota entrepreneurs looking to stay sharp also thrive on gathering intel. Whether it means attending live panels during TECH2024 or leaning into Saint Paul’s Farmers Entrepreneur Meetup, it’s these often-overlooked spaces that generate fresh partnerships.
Also, we’re feeling bold—plug into our own Spotify Podcast & Newsletter. We curate hyper-specific state-wide spots for networking AND keep folks alert to upcoming live events.
[Sign up—it only takes minutes.]
Cited Sources
- Minnesota Investment Fund – MN DEED
- Twin Cities Startup Week
