Episode: 010

Stu Sammis spent his professional career working for a fortune 500 company. Upon retiring he decided to make the leap into the world of entrepreneurship. He identified a need for his local community and brought in the concept of shared workspace.

Click to Tweet: Stu Sammis was featured on Launch to Greatness today!

The Struggle is Real:

  • After retiring Stu recognized there was a need for shared, or fractional, work-space.  While the idea had been around globally for over 25 years, it was brand new to the Corning, New York community.  Stu explains the struggles associated with pioneering a new concept into a community and the lessons he has learned to overcome this challenge.

Celebrate the Victories:

  • The largest victory was getting the doors open.  Dealing with the unfamiliarity of the idea of shared work-space, the community was a bit skeptical, landlords and lenders were not sure how to support the idea, and the process of getting the business from concept to live took longer than anticipated; just to find out that business does not come flowing in just because the doors are open.  Stu explains some of the lessons learned over the first 15 months to help create awareness and understanding for shared work-space.  Now clients are finding him and loving the class A space they can rent on an as-needed basis.

If I knew Then:

  • Stu reflects on the lesson of target market awareness and how to explain the differences of what shared work-space offers versus traditional rental methods.  The sticker shock of an "all-inclusive" space created some reluctance initially.  Learning how his target audience needed to see the comparative cost information has helped him improve his trajectory for success.

That ONE Thing:

Stu shares some anecdotal examples of how persistence has defined his career and how it can help all entrepreneurs as they are starting out on their journey.  It is critical to do the thorough, data backed, research and planning on the front end so you can build a successful and sustainable business.

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