What would it look like if you had a business that thrived because you were both profitable and positioned to offer the best to your customers?
Would you be willing to bootstrap until you not only found a product market fit, but enough success to secure external funding?
Jeff Iloulian, founder and CEO at HostGPO, further walks us on his journey in this episode as we dive into how to raise capital for your business and what to look out for along the way. Jeff’s journey began as a vacation rental host whose self-proclaimed failures led him to create HostGPO, a group purchasing organization that supplies hosts with high-end brands at an affordable rate.
Jeff remained resilient through the failures, knowing he had a great business model in HostGPO. He began to learn about fundraising from anyone and everyone he could, eventually raising enough capital to make his idea a reality. Yet, despite his success, Jeff humbly and thoughtfully explains the various types of funding you should be aware of and the steps he took along the way to get there to show up for Bombshells who want to be in the know.
Key Takeaways
- How a membership (or subscription) structure in your business can drive revenue and help attract investors
- What some of the terminology means, like the difference between venture capital and private equity
- Why it is essential when raising capital to ensure you have a solid plan for the funds you raise
- The importance of reiteration (and super amazing customers dedicated to going on the journey with you as you do)
- And so much more!
On the one hand, my closest girlfriends and I can chat about investments, business models, and valuations like it was the weather. However, I have found that, by and large, this is an intimidating topic for many women in business. And guess what? We didn’t get the same fair shake at education, mentors, and resources. If you don’t believe me just Google the stats around it.
So I encourage you to do what I did – listen to generous teachers like Jeff on this podcast and others, read books and articles to learn the lingo, look for opportunities to learn on the job, ask lots of questions, and don’t be afraid to look stupid to gain the knowledge you need to figure it out.
So shout out to Jeff for so transparently walking us through a true case study so we can all be empowered with understanding.
Are you ready to learn about the various opportunities you can get the resources to truly grow your business? If so, this is a can’t miss episode! Tune in on your favorite listening app, on the website, or watch it on YouTube!
Links & Mentioned Resources
3 Free Months of HostGPO for the Bombshell Business Audience
About Jeff Iloulian
Jeff has been in the vacation rental industry for nearly a decade. He has set up, managed, and/or operated over 250+ vacation rental properties–from cozy cabins in the woods to luxury mansions in Beverly Hills.
Additionally, Jeff has successfully grown several businesses and is passionate about interdisciplinary problem-solving in emerging industries. He firmly believes that the further you push outside of your comfort zone, the larger that zone becomes.
With a background in Economics and Philosophy from Columbia University and a JD from UCLA School of Law, Jeff spent three years as a lawyer practicing Business Litigation, Intellectual Property, and Cybersecurity before becoming an entrepreneur.
In his free time, Jeff enjoys playing music, eating tacos, and, of course, traveling.
Connect with Jeff
Website: www.hostgpo.com
LinkedIn: www.linkedin.com/company/hostgpo
Instagram: www.instagram.com/hostgpo
Facebook: www.facebook.com/hostgpo
Email: [email protected]