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EXCLUSIVE: This Entrepreneur Built A $12M Company With A 100% Remote Team. Here’s How She Runs It

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A little while ago, we did a Q&A with an amazing entrepreneur who did what all great founders do: Get frustrated with a problem. Then solve it.

The way she did this was by creating a universal, truly global co-working operation — and one that’s now grown to $12M in value, world-class investor backing and a newly minted partnership with the co-working giant itself, WeWork.

If you recall, Great Briton Leanne Beesley built and launched Coworker.com in just three years. And she runs with a 100% remote team, all the while traveling the world.

(Just check her IG. It’s super lit.)

Well, we still have more beastly Beeesley gems to share.

In Part II of this interview, Leanne breaks down how she runs a fully remote team of 19 folks across 11 countries, the biggest mistake she made, and how one minor change changed everything about her business.

For the better. Enjoy.

How do you run your team?

We’re a fully remote/distributed team of 19 people spanning across 11 countries. As a startup founder, the biggest mistake I made during our first two years of Coworker was not delegating enough or focusing on the team.

Coming from a freelancer and solopreneur background—where your worth is based on your personal output—I was totally self absorbed in my own “busy work” and my inability to delegate was a massive bottleneck hindering our growth. I cringe now looking back at how inefficiently I used to run the team. Management and leadership were definitely my major weakness.

What changed?

In late 2017 I read “High Output Management” by former Intel CEO Andrew Grove. This book totally changed our trajectory and the way I run things.

As I read through it, it dawned on me that I had been so focused on my own personal output that I wasn’t even thinking about the output of my team members. But optimizing the collective output of the team would have a much bigger impact on our growth than my own singular output ever could. It was like a light-bulb went off in my head!

Then what happened?

The next day, I totally restructured the company and the way I run the team.

What was the first thing you changed?

Instead of trying to manage everyone myself, I identified which members of our team already demonstrated leadership qualities and moved them into senior leadership roles with other team members reporting into them.

Nice.

I also created extremely detailed job descriptions for everyone, with every responsibility clearly defined along with their KPIs outlined and a list of what they need to report on a daily, weekly and monthly basis. These get updated every quarter to reflect any changes in their role.

I implemented quarterly OKRs (Objectives & Key Results) which is the same goal setting framework used by Google, LinkedIn, Twitter and tons of other major companies. This made a big impact on our growth almost immediately.

What followed then?

I started sending a Monday update to the entire team to get them pumped up for the week. This includes a video where I answer any questions they submitted through the anonymous “Ask Leanne” Google Form each week.

Super dope! Why was that helpful?

As well as sharing our KPIs from the previous week and highlights of awesome stuff different team members worked on, it’s a great opportunity for me to reinforce the vision and mission on a regular basis!

These probably all sound like obvious things that I should have been doing from the beginning, but it took a major mindset shift for me to realize I needed to do them!

You’d be surprised. I guarantee you tons of people are going “Aha!” right now.

It seems like common sense in retrospect. How else can you run a team if you’re not delegating and tracking?

Which leads me to my next question. Project management. You run a remote team exclusively. You travel all over the world. How do you run your team?

When it comes to tools, we use Slack for internal team communications and Basecamp as a project management tool. We try to use email as little as possible; it’s such a productivity killer.

From a culture perspective, we definitely all have an entrepreneurial spirit. Many of our team members are former or current entrepreneurs, and were members of co-working spaces long before they joined Coworker.

For example our Community Manager, March Brenwall, owns her own ecommerce store – MarchFifth – selling fitness themed apparel and jewelry—which her team of VAs now manage since she joined Coworker—and has been traveling around the world for years working out of co-working spaces in Asia, Europe and North America.

Do you look for that when hiring, an entrepreneurial background?

I like hiring people who have had a slightly unconventional career path, especially if they’ve taught themselves skills and built things along the way. A history of proactivity and bias towards action are key indicators for whether someone will fit well into Coworker culture.

You guys have been offering a vehicle for smaller co-working companies to play on an even field with WeWork. But you recently cut a deal with them. Why?

When we first launched Coworker in 2015, we were focused on helping freelancers and solo entrepreneurs find co-working spaces. But as we grew, we noticed more and more companies were using Coworker to find offices for their teams.

The co-working industry is diversifying as it matures because demand is increasing for all types of flexible workspace. It’s similar to the way there are so many different types of hotels, from boutique design hotels to 5-star luxury resorts. People have unique needs and look for different things in a co-working space.

We realized that if we wanted Coworker to be the ultimate destination for finding & booking co-working spaces we needed to have the full range of co-working space inventory on the platform, allowing people to filter and choose whichever is right for them.

What’s been the reaction from previous partners?

A few independent co-working space managers emailed us to express their concern when WeWork joined Coworker in July [2018], but we’ve crunched the data and it really hasn’t affected their own conversion rates at all. WeWork has a very strong brand but Coworker is a level playing field.

The booking request conversion rate for co-working spaces with over 10 reviews is on average 487% higher than spaces with no reviews, and unlike on Google there are no PPC bidding wars to spiral marketing costs out of control if co-working spaces want to appear at the top of Coworker’s search results for their city.

Although we do have almost all the larger co-working space networks on Coworker, including WeWork, Tribes, Industrious, Spaces, IOS Offices, 91 Springboard, etc, these make up only 12% of the co-working spaces on Coworker.

88% of the 9200+ co-working spaces on Coworker are independent spaces so the majority of booking requests made are still to them.

In part III, Leanne breaks down her growth strategies, what lies ahead and her thoughts on the co-working industry as a whole.

Entrepreneurs

The Top 10 Investment Opportunities To Capitalize On During A Recession

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A recession can be a challenging time, but it can also present opportunities for investors to make smart investment decisions.

During a recession, certain industries tend to perform better than others, and identifying these opportunities can be the key to success.

Here are the top 10 investment opportunities to capitalize on during a recession:

1. Defensive Stocks

Defensive stocks are those that tend to perform well EVEN during economic downturns.

These include companies that provide essential goods and services, such as healthcare, utilities, and consumer staples.

Defensive stocks may not offer the highest returns, but they can provide stability and protection during a recession.

Defensive stocks include Johnson & Johnson, Procter & Gamble, PepsiCo, and Walmart, among others. (You can buy them all inside the NYCE app.)

2. Gold

Gold is often seen as a safe haven during times of economic uncertainty.

As a tangible asset, it can provide a hedge against inflation and currency fluctuations. During a recession, the price of gold may rise as investors seek a safe haven for their money.

READ: 3 Ways To Invest In Gold (In 3 Minutes Or Less)

3. Real Estate

Real estate can be a good investment opportunity during a recession. Especially if you are looking for a long-term investment. (Hence why NYCE exists.)

While property values may dip during a recession, they tend to recover over time. In addition, rental properties can provide a steady stream of income, even during a recession.

After all: Real estate has created more millionaires than any other asset class.

4. High-Quality Bonds

High-quality bonds, such as U.S. Treasury bonds, can be a safe investment during a recession.

These bonds are backed by the full faith and credit of the U.S. government, which makes them less risky than other types of bonds. (Though this has become less safe today than in the past.)

They may not offer the highest returns, but they can provide stability and protection during a recession.

5. Consumer Discretionary Stocks

Consumer discretionary stocks are those that are tied to consumer spending, such as retail, travel, and entertainment companies.

During a recession, these stocks may suffer as consumers cut back on non-essential spending.

However, if you believe that the economy will recover, investing in consumer discretionary stocks can be a good bet.

6. Healthcare Stocks

Healthcare stocks tend to perform well even during economic downturns, as people still need healthcare services regardless of the state of the economy.

In addition, the aging population in many countries is driving demand for healthcare services, which can provide long-term growth opportunities for investors.

7. Technology Stocks

Technology stocks can be a good investment opportunity during a recession, as many companies in this sector have strong balance sheets and cash reserves.

In addition, the shift towards remote work and online shopping during the pandemic has increased demand for technology products and services.

8. Emerging Markets

Emerging markets can be a good investment opportunity during a recession, as these countries may be less affected by the economic downturn than developed countries.

In addition, emerging markets often have higher growth rates than developed countries, which can provide long-term growth opportunities for investors.

9. Dividend Stocks

Dividend stocks can be a good investment opportunity during a recession, as they provide a steady stream of income even during tough economic times.

Look for companies with a history of paying dividends and a strong balance sheet.

10. Cash

Finally, cash can be a good investment during a recession, as it provides flexibility and liquidity. Having cash on hand can allow you to take advantage of investment opportunities as they arise.

In conclusion, while a recession can be a challenging time for investors, it can also present opportunities for smart investment decisions.

By identifying the top investment opportunities during a recession, you can position yourself for long-term success.

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Entrepreneurs

From Zero to Millionaire: How 9-5 Marketing Guy Made A Fortune Selling Pet Rocks As A Joke (1)

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No BS—this is actually a real story.

The pet rock—a seemingly ridiculous idea—became a sensation and made its creator, Gary Dahl, a millionaire in the 1970s.

Dahl, a marketing executive, came up with the idea as a joke during a conversation with friends.

He packaged rocks in a cardboard box with holes and called them “pet rocks,” complete with an instruction manual on how to care for them.

There was virtually no upfront investment, as the rocks themselves were free, and the packaging was inexpensive.

“It was a joke,” Dahl told ABC News years later. “It was a satire. It was fun. And it became an overnight success.”

The pet rocks became an instant hit, with Dahl selling over a million of them in six months.

LEARN: How to build a $100K side hustle in 1 hour.

He appeared on popular TV shows and even wrote a book about his success. The pet rock craze died down after a year, but Dahl had already made his fortune.

After the pet rock craze died down, Gary Dahl continued to work in marketing and advertising.

He also tried to launch other novelty products, such as “sand-breeding kits” and “mood rings,” but none of them achieved the same level of success as the pet rock.

“I think that’s one of the things that is wrong with business today. People are so serious, they forget to have fun,” Gary Dahl said.

The success of the pet rock shows that sometimes the most unconventional ideas can lead to great success.

Case Study: How A $49 Investment Could Make You $100K+ In 6 Months

Why Gary’s story matters to you…

The story of Gary Dahl and his pet rock is a testament to the power of thinking outside the box. Sometimes, it’s the seemingly ridiculous ideas that can lead to the biggest successes.

Dahl’s story is not only inspiring, but it’s also a reminder to keep a sense of humor and not take ourselves too seriously.

In business, it’s easy to get bogged down in strategy and analysis, but we should never forget the importance of creativity and fun.

The success of the pet rock is also a lesson in the power of marketing.

Dahl’s packaging and instruction manual turned a simple rock into a desirable product. It’s a reminder that sometimes it’s not the product itself that’s important, but how it’s presented to the world.

So if you’re feeling stuck in your business or just need a little inspiration, take a cue from Gary Dahl and his pet rock.

Keep an open mind, don’t be afraid to take risks, and don’t forget to have a little fun along the way.

Who knows…you might just come up with the next big thing.

About author:

wealthlab is a platform for hustlers, doers, entrepreneurs and investors to do epic s&%. Our mission is to create 100M new investors worldwide. Join our academy here.*

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Business

How Big Real Estate Moguls Avoid Taxes (And How You Can, Too) 👀

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I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.

I’m interviewing a tax expert about how real estate investors avoid paying taxes in perpetuity—AND how everyday citizens can do the same thing.

(Real estate—our TEMPLE I and TEMPLE II projects included—has a number of tax benefits savvy investors have capitalized on for years, including Opportunity Zone breaks and 10-year tax abatements.)

There’s the 1031 exchange, of course, which I’ve shared with you guys before. 

Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.

But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.

So I thought I’d share it with you guys. 💎

You can check it out here.

Let me know what you think. 😎

PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀
PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.

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