What does it really take to turn a group of early users, customers, or peers into a thriving startup community? That’s the question David Santana, Vice President at Fidelity Private Shares, tackled in a dynamic, founder-focused session hosted by M Accelerator.
Drawing on more than a decade of experience managing innovation hubs, founder networks, and corporate ecosystems across Silicon Valley, Santana shared candid insights on how community-led strategies drive not just engagement—but growth.
Table of Contents
Community Is Not a Feature—It’s a Strategy
David began with a clear definition: a community is a group of people bound by a shared commonality that motivates them to engage with one another. Whether it’s a common problem, industry, demographic, or mission, real communities thrive on shared context.
But Santana warned founders not to confuse community with content distribution. A true community doesn’t form because of your product—it forms because you offer value where people already gather.
This distinction is essential. Community-led growth isn’t about broadcasting—it’s about relationship building, ongoing trust, and being invited into a space because you bring something meaningful. And for startups, that means looking beyond your platform and asking: where is my audience already engaged, and how can I support that organically?
When Should Founders Invest in Community?
Community-led growth isn’t right for every business. For low-consideration, transactional products, it may be a misaligned strategy. But for startups selling into complex B2B spaces or building trust-intensive categories—like fintech, SaaS, or healthcare—community can be a powerful multiplier.
David outlined a few questions founders should ask:
- Are your ideal customers (ICP) already gathering somewhere?
- Can you offer real value to their existing conversations?
- Can you track the impact of community on sales or product insight?
- Do you have the bandwidth to maintain trust-based, long-term relationships?
If the answers lean toward yes, it may be time to build a scalable community channel into your go-to-market strategy.
Events: The Front Lines of Community
Santana’s approach to events is refreshingly tactical. While he organizes two to three events a week, he emphasizes quality over scale. “You don’t need a huge venue. You need the right room with the right people,” he shared. That often means small, curated dinners, hikes, or coffee gatherings where founders can learn from each other and develop real trust.
What doesn’t work? Generic webinars or one-size-fits-all panels. “Founders want connection more than content,” David explained. “Everyone’s overloaded with information. The value now is in intimacy, curation, and creating space for peer learning.”
Whether it’s a panel, a workshop, or a casual networking event, the most effective communities give members clear reasons to return—and invite them into experiences they can’t get elsewhere.
Metrics That Matter: ROI in Community Building
Community-led growth isn’t charity work—it’s a strategic channel. But without tracking outcomes, founders risk becoming unpaid event producers. Santana shared his key metrics:
- Sales signals (renewals, fundraising milestones)
- Conversion touchpoints (he estimates ~7 interactions per lead)
- Pipeline engagement (event attendees converting to demos or referrals)
Using tools like HubSpot and Luma, his team automates follow-ups, captures engagement over time, and ensures his brand stays top-of-mind when buyers are ready. The goal? To become the go-to solution when timing aligns—not just a name from a one-off event.
Platform Tips: What Makes Communities Stick
When asked about managing community platforms, David emphasized a simple but powerful point: “People stay where they find value.” Slack, WhatsApp, Telegram—it doesn’t matter. What matters is:
- Curated access (who’s in the room?)
- Strong moderation (what’s acceptable behavior?)
- Regular, relevant value (why should they return?)
He encouraged founders to prioritize what they offer before choosing where to host it—and reminded them that sometimes, it’s more effective to embed into existing ecosystems than to build from scratch.
Final Takeaway: Generosity First, Sales Second
Perhaps the most powerful insight from this session was philosophical. “I never show up to take,” David said. “I show up to give—and the trust I earn from that is what eventually brings the business back.”
In an age where attention is scarce and relationships drive growth, community is no longer a “nice-to-have.” It’s an essential differentiator for startups willing to play the long game.
Ready to Build Your Startup’s Growth Engine?
Founders today face more noise, competition, and complexity than ever before—and the founders who win are those who know how to communicate powerfully, build trust fast, and leverage community to accelerate growth. Whether you’re experimenting with go-to-market channels or struggling to get attention from the right audience, learning how to show up with clarity and value is non-negotiable.
If you can’t communicate your business with a powerful idea, you won’t be able to build it. Join our weekly Founders Meetings where early to pre-Series A founders discover how to leverage AI and strategic messaging to unlock growth. In these interactive sessions, you’ll learn the main factors holding founders back (from our analysis of 2,000+ applications yearly), see real AI implementation in GTM strategy, and connect with a community of 500+ founders who’ve raised $50M+ collectively.
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