Growing Her Startup Meant Buying, and then Selling, Her Home
Avelist CEO Jody Porowski writes for Medium about the strategies and sacrifices she's made to grow her company
BY LAURA BAVERMAN
Filed Under: NEWS: Startups
Avelist CEO Jody Porowski realized long before most entrepreneurs that she couldn't spend all her time fundraising. That to build a successful business, she had to focus the majority of her time on the building.
And that's why she made a bold decision two years ago, when she was a full-time employee at SAS with cash to spare. She'd invest in a home, and when the time was right, she'd turn that real estate play into a business-building one.
And so when March 2014 came along and Avelist needed quick cash to market and grow the product, she sold her home in Raleigh's highly-desirable North Hills neighborhood. She sold the rest of her belongings on Craigslist. And she moved in with Mom and Dad.
She needed to double down on the most important thing in her life right now—her business. And she documents the decision, and the lessons she learned from it all, in a now trending post on Medium.
She wrote: The way I see it, many people work hard to buy their dream house. I sold a house so I could have my dream job.
ExitEvent has written about Porowski before. She's known for taking big risks—abandoning a promising career in social media analytics at the prestigious SAS to start the company that allows social list-making and list-sharing.
She raised $300,000 from friends and family in 2012 and 2013, and that helped her hire a team of now six who work out of an office in Durham. In recent months, she's made a big marketing push, partnering with bloggers and other online personalities to write and share lists. In April, the site reached 25,000 users, with average time on site of 4 minutes and 30 seconds, a figure Porowski calls a "hugely exciting milestone." The $276,000 house sale will continue those outreach efforts.
Entrepreneurs have to be risk-takers and sacrifice-makers in order to have a chance at success. But Porowski's story proves the best risks and sacrifices are the calculated ones.
Companies We Mentioned In This Post
You Might Also Be Interested In
MaryAnne Gucciardi carries a special bag with her wherever she goes. When the right moment comes along in a conversation, she begins to pull out its contents.
ArchiveSocial CEO Anil Chawla was running into the same problem over and over again—despite connections made at the nationally-recognized Code for America accelerator and early users of his software that archives social media for government officials.
A cool thing happened on Twitter today. Mark Suster, a well-known California venture capitalist, serial entrepreneur and popular blogger on all things startups, asked his 166,000 followers for help planning a September trip to North Carolina.
Here's some encouraging news for your Wednesday. The Senate Commerce Committee spent less than 40 minutes discussing the latest version of the state's proposed JOBS Act before approving it.
I was on vacation the week that Bull City Venture Partners announced its new $26 million fund. That was my defense to BCVP partner Jason Caplain anyway when he called me out on my lack of coverage of the fruits of months of meetings and conversations.