Entrepreneurs
(Q&A) Entrepreneur Journey: This Millennial Built A $12M Coworking Platform In 3 Years
According to various reports, the number of global co-working spaces is expected to grow from 14,411 in 2017 to over 30,000 in 2022.
We all heard of WeWork, the most “hyped startup in the world.”
Contrary to popular belief, WeWork isn’t the creator of an industry, they’re merely a market leader.
Below the surface of the all-encompassing WeWork, other players have emerged, looking to take a slice of the multi-billion dollar pie.
One of them is Coworker.com, built by Millennial wunderkind Leanne Beesley.
Since launching in 2015, Leanne’s built a $12M company, sold out her seed round in record time, and is now running a 19-man remote team looking to make a dent in the gazillion dollar co-working market.
Here’s her story.
How did Coworker come about?
I started Coworker to solve my own problem.
Yes, do tell?
Back in 2012 when I started working on my own e-commerce projects, I didn’t know co-working spaces existed. I worked alone from coffee shops every day. And even though I loved the freedom of working independently, I hated how isolated it made me feel.
Almost every day I’d need to change coffee shops at least once due to WiFi instability, crying babies or a dubious choices of background music — the moment 80’s pop creeps onto the playlist, I’m outta there. (Laughs.)
What did you do?
So when I finally discovered co-working spaces in 2013, it was like a ‘come to Jesus’ moment! Suddenly I found myself surrounded by a community of awesome people who were all working on interesting projects. The WiFi was stable, the decor was cool, they held meetups and events where I made tons of new friends, and most importantly, I finally had a place that I was excited to wake up and go to in the mornings.
But then in mid 2015, I moved to Hong Kong for two months and needed to find a new co-working space. So I turned to Google, expecting it to be a relatively simple process.
I guess that didn’t help?
It didn’t. I wasted almost a week sifting through 50+ websites of individual co-working spaces and reading blog posts, trying to figure out which one had the kind of people and atmosphere I wanted. Eventually, a friend recommended a co-working space she was a member of. It turned out to be exactly what I was looking for.
I sense a “but” coming here…?
They didn’t accept credit cards, only cash, and I had to immediately pay two months deposit on top of one month’s membership fee. Cue me frantically trying to get over $1200 out of an ATM, maxing out the daily withdrawal limit on every debit and credit card I owned.
Then there was yet ANOTHER hurdle: Paperwork.
Pages and pages of membership contract paperwork that I had to initial and sign—all just for a simple one month hot-desk membership. I might have signed away my kidneys in that contract, and I definitely wasted about 20 minutes of my life while they prepared it all.
On top of that, they could only return my deposit — in cash — 30 days after the end of my membership. Although the co-working space was great, it bugged me that the entire discovery and booking experience was so inefficient.
How did all this lead to the idea itself?
While the hotel industry has Tripadvisor and Booking.com, nothing existed like that for co-working spaces. I couldn’t understand why in such a fast growing industry, there was not yet a global platform to find, book and review co-working spaces.
So together with my friend Sam Marks (serial entrepreneur & investor), I decided to build it.
Coworker went live in October 2015, and has been growing ever since.
A new milestone! Thank you to every coworking space manager that has chosen https://t.co/XhCVKpHwGz as their marketing & review platform ❤ #coworking pic.twitter.com/WA5ZGSt5C5
— Leanne Beesley (@LeanneBeesley) July 12, 2018
What problem are you solving?
It’s still early days, but we’re pretty far along in solving the “discovery” problem so far.
There are currently over 9200 co-working spaces in 158 countries on Coworker, with around 300 new co-working spaces joining each month. So instead of having to sift through tons of websites on Google, you can now find them all on one marketplace.
Depending on what features the co-working space has activated, you can schedule a tour, book a free day pass (to try it out for a day), send a message, or make a booking request for a hot-desk, dedicated desk or private office.
Over 12,000 people have posted reviews of co-working spaces on Coworker too, which is why media publications often describe us as the “Tripadvisor or Yelp” of co-working spaces.
Now that we’ve built the foundation and captured the market, we’re moving onto tackling the next problem, which is solving the inefficiency and problems people have when booking co-working spaces online.
We’ll be launching online payments soon so people can easily pay for short term memberships on Coworker, and due to popular demand we’re expanding inventory types to include real time availability & booking of meeting rooms at co-working spaces.
I’m really excited about this next stage of growth — we’re solving a major problem for a lot of people —myself included.
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.
Entrepreneurs
From Zero to Millionaire: How 9-5 Marketing Guy Made A Fortune Selling Pet Rocks As A Joke (1)
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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