Home-based startups face unique challenges
Managing overhead is crucial for the success of small businesses, and that means many entrepreneurs are choosing to turn their home into their office. Four small business owners shared the challenges and benefits of this strategy in an interview with Forbes.
David Porter founded 8tracks, a social radio platform, and now shares his loft-style apartment with 17 employees. "It's not ultimately sustainable," Porter admits. He wakes up early every morning to make use of the shower before his employees arrive, which is inconveniently located in the middle of the open space. He has recently received funding from venture capitalist firm Index Ventures, but the tough market competition means he must watch every penny to stay competitive with music streaming giants Spotify and Pandora.
Maria Seidman left her job as a media executive to focus on Yapp, her iOS app that allows users to make their own apps for events or business. She has six employees and a handful of interns in the basement of her Manhattan residence, in addition to a newborn baby. Working at home allows her to care for her newborn, but presents a host of challenges as well. Seidman, who's already mom to a 4 year-old, said it's not uncommon for her to put her child to bed at 8 p.m and work till 3 a.m.
"I was a mortgage broker for a long time and I wanted to do something a little different," Joel Young, who began selling speakers made form foraged driftwood on Etsy last year, told the source. He now spends most of his time in California's Sierra Nevada Woods, searching for driftwood and on the lookout for rattlesnakes and mountain lions. Nordstrom recently began placing orders for his product, and he remarked how difficult it was to conduct such a deal from his home address.
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