The most memorable businesses boast compelling stories and their mission’s follow suit. These enterprises find a need, problem or re-occurring challenge and then set to build not just a business but a real solution. I always wanted to build a business that was bigger than “me”; something that could help thousands of people; something scalable. Here I share my journey of building my business, in the hopes that you too will be inspired to create a project, business, or idea that helps thousands.
The Idea
Before launching my current solution-oriented franchise, Hera Hub, I started small. After working a few sales jobs after college I landed my dream position in the field of my choice, marketing. I worked for multiple tech startups which proved to be unstable and was laid off twice. I landed another job as the Director of Marketing of a tech startup, managing collaborative projects with large media companies such as CNN, USA Today, and LA Times. The founding team ended up selling the company to America Online in 2003, which meant I was again out of a job… again.
Facing my third layoff at age 29, it was time to start evaluating my options. I could find another J-O-B (which to me seemed like a death-sentence) or start a business. With a solid background in marketing I launched my consulting practice in 2003, Perspective Marketing. My marketing practice was profitable and I deeply enjoyed supporting my clients with my unique collaborative approach. However, there were significant challenges. I ran Perspective Marketing from home and while it was convenient and cost effective, it had its downfalls. My home office was isolating, distracting, I couldn’t meet clients at my private residence, and coffee shops were always noisy and cramped. I also struggled to find event space for my networking groups. Hotels and private rooms were always too expensive and community centers were closing left and right. I knew there had to be another way.
My home office was isolating, distracting, I couldn’t meet clients at my private residence, and coffee shops were always noisy and cramped.
I was then introduced to coworking in 2008 when I hosted a networking event at San Diego’s first coworking space, the Hive Haus. Coworking is a style of work that involves a shared working environment, yet independent activity. Unlike the typical office environment, a coworking space is generally shared by individuals from different organizations and professions. This style of work is attractive to creative types, entrepreneurs, independent contractors, work-at-home professionals, and people who travel frequently and end up working in relative isolation. I pondered the idea of opening my own space for about six months before really diving into market research. I ended up visiting coworking spaces in New York, Los Angeles, and San Francisco in June of 2010 and started to look for spaces in late summer. Most of the coworking spaces I visited were industry focused (STEM, fashion, executive suites) and a few I visited were catered towards millennial men in tech. Theses spaces had rock music blaring, beer on tap, and while it was fun it wasn’t what I was looking for at that stage of my career. After conducting extensive market research, I realized that I wasn’t the only one struggling with the challenges of working from home. It’s predicted that 60% of the knowledge based workforce will be independent by 2020. Where will this demographic work? Coffee shops, their spare bedroom, the library? I was part of this demographic that was growing exponentially. This paired with my passion for entrepreneurship drove me to custom design the ideal workspace for the modern entrepreneurial woman, hence the spa-inspired concept.
The Challenges & Triumphs
The commercial real estate process was much more complex and challenging than I ever imagined. I had two strikes against me: a new business and a new concept - no one wanted to take a risk. I got patted on the head more than a few times from older men in this very traditional industry. I finally found and secured a space in 2011. My longtime partner, Keith, amazingly configured power for our space, helped me buy and set up IKEA furniture in just one week! I finally secured my first “real” space and officially opened my doors in August 2012. Within three years, I launched three successful locations in San Diego, California and support a robust community of over 300 female entrepreneurs at various stages of business. I built this business to be more than an office space, returning to my dream of building something bigger than myself. Hera Hub is a community of like-minded entrepreneurs. We host weekly business courses, host gurus (subject matter experts that offer free business advice to our members and the public) and provide, meeting and event space for networking groups, non-profits, and neighboring corporate professionals looking for a supportive environment.
Our unique business model answers the work-from-home woes and offers and lends to productivity, focus. Furthermore, our platform supports female entrepreneurs, My next goal is to teach other women what I’ve learned by franchising the business concept. My goal is to have 200 locations and support 20,000 women in the launch and growth of their businesses by 2020. I’m excited to announce that as of summer 2014 Hera Hub got the green-light to franchise in 32 states and has signed our first franchise agreement in Washington DC, with plans to open this coming winter.
Your Turn
My manifesto, of building something that supports others, that’s bigger than myself, and solves a need is made possible through our growing franchise. For those of you dreaming of building a business, I encourage you to think bigger and start to ask yourself, what need does my business fill? I often hear “I just want to make enough money to pay my bills and provide for my family.” While I think that is a wonderful and legitimate goal, I encourage my community members to think bigger. What would you do if money were no object? Now go for it. Trust and believe in your talent, dream, and business. If you don’t, who will? This grand thinking enables entrepreneurs to think about their business “long-term”… meaning what do you want your end result to be? Do you want to duplicate? To sell? To pass it down? Creating your business with a global vision vs. a “I just want to pay my bills” perspective forces you to build something that supports your audacious thinking; that’s what we call “scale”. This thinking enabled me to transition out of my small consulting practice to Hera Hub.