It’s a question many business owners eventually face…does it make more sense to own commercial space or rent it? Both arguably have equal pros and cons. In this episode I talk to Jenny Poon, founder of eeko studio and Co+Hoots, about her decision to purchase the next space that is soon to become the new home of Co+Hoots. She talks about what ultimately drove their decisions and some of the biggest hurdles they had to overcome on the road to securing the building.
Jenny also talks about the need to get creative around the loan structures and even funding the building…they launched a crowdfunding campaign (check it out!).
Show references:
Next week I’m in the lab with Nick Loper, founder of Side Hustle Nation. We talk all things side hustle of course! Be sure to tune! Until then, have prosperous week!
Intro music in this episode: “They Just Don’t Know” by Gyft.
Outro music in this episode: “Only One” by Rasp.
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Beth and Jenny are two of the smartest lady boss entrepreneurs in AZ!!
It is these types of SmartyPants entrepreneurs that I like to place my business next to. That is exactly the type of businesses I would “bench my brand” with.
I found community in Cohoots, and even when I stepped away for a year to try a different location I was welcomed home when I walked back into Cohoots.
Even if you think you can’t afford to pay a monthly fee to become a part of a bigger location you can get creative with Cohoots, you should always think creatively and you might just decide to pay for a day here or there, or be a monthly fly buyer and have it available as you need it. You need to just try it out and walk in the door.
Beth created this Podcast while running her business out of Cohoots. Beth is a leader in the PR field where it comes to leading SuccessLab evening Meetups and keeping the voice moving to the outside world with these Podcasts.
Hearing that Jenny and Odeen have placed their lively hood on the line for all of us little business people to build our dreams.
Well, I personally have their back even if the SBA doesn’t. This tells us a gap in the business community on how we support the stand out people like Jenny and Odeen who try to progress entrepreneurs NO MATTER WHAT!!
I have been in a personal guarantee position in the past and hearing that they are in this place tells me that they need all of us to join their business and help to prop them up and make them feel safe.
I hope you listen carefully to where they are at with this community and that it is time to think about being a part of their vision. Don’t ask what Cohoots can do for you, ask yourself what you can do for Cohoots.
Jenny said that she wants to create more partner programs. How can you partner with Cohoots to create more impact.
First thing is to sign-up and PAY for a desk. You can offer to support a partner program, for example Amber Anderson needs speakers for her upcoming parent prenuer program. You can ask Beth if you can support a SuccessLab podcast.
Just walk in the door and start your day off with a GIVE, not what you can GET.
I am so excited to see what is growing in the walls of the Cohootians next midtown location. You have to ask for a tour. There are things like a mobile walking track so you can talk and walk, there are treadmill desks, there is a room to support podcasts like this one. They have cowbells they will ring when we have a company success. They have a cool collaboration healthy eating space.
They are risking so much for the better good and I think it is time to Work. Live. Play. And Learn. from this experience of money, loans and fear. Open up your pocket, your heart and dreams and join Cohoots and Jenny and Odeen and little Ayda so she has Cohoots for her when she decides to continue the legacy of entrepreneurship when she grows up.
Thanks Beth for bringing this story of community and financing for the good of others. You bring so many important stories to life and behind each one are incredibly smart and creative biz peeps!!!
#IminCohoots
#JennyPoonisasmartypants
#BethCochranisapodcastqueen