Small Business Hiring Hacks

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Do you need some tips on hiring great talent?

Hiring great talent can be tough. For many business owners, one of the most time-consuming parts of finding new employees is reviewing applicants. The three hacks below can help you cut down on the time spent finding the right candidates.

Hiring Hack #1: Reduce the applicant pool

It’s not uncommon to receive dozens or even hundreds of applicants for each job posted. Here’s a hiring hack where managers can cut the time to review incoming applications by including specific instructions for candidates in the job description.

First, specify the exact subject line candidates should use when emailing a resume. Ignore any applications that deviate from this subject line (unless something very creative catches your eye). This makes it possible for you to tell quickly if potential candidates are capable of following written instructions.

Second, include a simple instruction such as, “In your cover letter, answer the question: [insert any question here]”. The answer itself is less important than the action. You could be asking his or her favorite pro sports team within your city. Or, if the candidate is more of a dog person or a cat person. If someone fails to address this request in his or her cover letter, you can eliminate them as a candidate. All that matters is if directions were followed.

Hiring Hack #2: Ask unexpected questions

Ask a handful of questions candidates are unlikely to expect. You’ll get a front-row seat to how they react when put on the spot. For example, you might ask, “What’s the most surprising thing you learned when you were researching our company?”. The candidate’s answer will not only reveal if he or she did research, but also give you insight into how their initial perception of your company differed from a researched perception. These kinds of questions can provide a wonderful opportunity to ask follow-up questions.

Additionally, questions that test a candidate’s curiosity can be revealing. In Harvard Business Review‘s “Spotting Talent in the 21st Century,” executive search firm Egon Zehnder research found that curiosity can be the most important trait for leaders and employees. To gauge curiosity, ask questions like, “What’s the last really interesting thing you read,” “Tell me one fact you’ve heard this week that took you by surprise,” or, “What’s one non-work-related skill you’re currently working on mastering?”

Hiring Hack #3: Test their follow through

Good follow-up skills can be critical to success across industries. Evaluate a candidate’s follow-up savvy by making a simple, casual request at the conclusion of the interview.

For example, if the candidate mentioned he or she is going to a movie that night, you might say, “Please, let me know how the movie is,” as you say goodbye. Although this request may not seem important, a skilled candidate will recognize this as an opportunity to show his or her follow through and attention to detail. If the information is provided in a thank-you email (which every candidate should send within 24-48 hours), you know you’ve got a candidate who will not only listen for subtle cues in the workplace (from customers, suppliers, or co-workers), but also follow up on them appropriately.

Interview Mistakes Employers Should Avoid

5 Interview Mistakes Employers Should Avoid

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Are You Scaring Off Quality Job Candidates?

Business owners’ inability to find top talent to fill open jobs are at peak levels not seen since November 2000, according to the April 2017 NFIB Small Business Economic Trends report. If you’re a business owner with open jobs and without quality candidates to fill them, a few simple adjustments to your recruitment processes may improve your ability to attract top talent. Here are five interview mistakes employers should avoid.

Not familiarizing yourself with the employee’s background.

Competition for top talent is high. Quality job candidates have more options for where they want to work in today’s economy. This includes candidates that have little professional experience. The Society of Human Resources (SHRM) indicates that the number of employers looking to hire new college graduates is at a ten-year high.

Your small business may not be equipped to offer the same salary or benefits as larger employers. To combat this, your goal in every interview should be to make candidates want to join your team.  This is one of the top interview mistakes that employers should avoid.

What to do instead: Don’t ask candidates to repeat information they’ve stated on their resume. Familiarize yourself with every candidate’s education, employers and organizations. Be sure to do this before the interview to personalize the process. Even if you ask the same basic questions of each candidate, consider phrases like: “Tell me the most challenging aspect of your job when you worked at X and why.” Getting distracted during the interview.

A distracted interviewer indicates to the candidate that, as a boss or a co-worker they will not be be supportive or attentive. Workers with in-demand skills want to know that they are a priority to you and the firm.

What to do instead: Turn off distractions like alerts for email, text or instant messages. Put your computer screen in sleep mode, and notify co-workers that you are not to be disturbed during the interview.

Not having a clear process.

Even for small offices, a lack of basic processes for interviews can give candidates the sense that your business is frenzied, reactive and potentially unprofessional.

What to do instead: When confirming the interview, provide candidates with information on where to park and check in. Include what to bring to the meeting and how to dress if applicable. Also list the names and titles of the people they will meet, and the start and end times for all meetings. Have the candidates greeted upon arrival, and offer a beverage and restroom visit before you start the interview. Ensure you’ve booked a room where you can meet, provide space for the candidate to place belongings and sit comfortably. Upon closing the interview, review next steps of the process with the candidate.

Not including others in the interview process.

Give candidates an opportunity to speak with other company employees,so you give them an opportunity to evaluate your company culture. Employee satisfaction, loyalty, motivation and engagement are linked to a positive company culture ; Harvard Business Review reports that it can be correlated to higher levels of customer satisfaction.

What to do instead: Your business culture is the sum total of your businesses’ unique mission, values, priorities and the personalities of the many employees who contribute to your business each day. Have multiple interviews, even if they are by phone, to allow candidates the opportunity to evaluate better how well they may fit into your organization.

Quizzing the candidate, or monologuing.

An interview should be beneficial for both parties. One-sided interviews can create dissonance in the minds of candidates. This also decreases the possibility you’ll see them in their best light. While it’s important to assess a candidate’s skills, quizzing them in an interview or monopolizing the conversation won’t help either of you reach a decision.

What to do instead: Maintain a dialogue. A two-way conversation empowers candidates and provides you with the answers you need. Give candidates a sense of your businesses’ current priorities, pace and focus, and then allow them to ask questions. Armed with this information, a candidate can feel confident, informed and equipped to evaluate if your company is a good fit for them as well.

Knowing the interview mistakes that employers should avoid with help you fill your small business with the best talent out there.

Should Small Business Owners Be Worried About Rising Rates?

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Historically low interest rates may soon be a thing of the past. A flurry of rate hikes by the Federal Reserve has pushed the federal funds rate up by one full percentage point since the 2008 financial crisis. At least one additional rate hike is in the forecast for 2017, with more on the way in 2018. As rates rise, it’s important to understand how your bottom line could be affected.

Borrowing May Become More Expensive

While rising rates mean higher yields on savings, they can be bad news for borrowers. If you’re planning to pursue short-term financing to cover your business’s working capital needs for example, or take on a long-term loan to fund plans for growth, it may be a good idea to compare the interest rates lenders are charging. A difference of even a half a percentage point could significantly impact the cost of borrowing over the life of the loan.

Rising Rates Could Result in a Spending Slowdown

When the Federal Reserve increases interest rates, it’s generally a sign that the economy is robust. Rate hikes serve to keep the economy from overheating, while keeping inflation at manageable levels. There’s a side effect, however, that can directly impact small businesses.

As borrowing becomes more expensive, consumers may rely less on credit. In turn, they may spend less. Reduced spending means less money that’s being funneled into businesses, potentially shrinking profit margins in the process.

The good news is that consumer spending has held relatively steady since the Fed began implementing rate hikes late last year. The 14-day rolling average has ranged from a high of $109 at the end of December, to a low of $81 in the fourth week of January. Overall, spending continues to surpass 2016 levels. This is an encouraging sign that consumers aren’t yet pulling back because of rising rates.

Prep Your Business for Further Rate Hikes

If the Federal Reserve continues raising interest rates, it’s important to make sure your business is as prepared as possible.

If you have plans to expand, you may want to consider following through sooner to take advantage of still-low rates. Likewise, now may be a good time to consolidate existing business debts if you’re concerned about rates climbing quickly.

Taking steps to improve your credit is also wise if you think you may borrow later on. Reviewing your personal and business scores, checking your credit reports for errors, and making your payments on time can strengthen your score. That can work to your business’s advantage if you need a loan in a rising interest rate environment.

Looking to get additional funding, expand, or update equipment before additional rate hikes go into effect?  Strategic Funding provides an array of financing products for small businesses. Contact us for a free consultation with one our financing specialists to see what amount your business qualifies for today.  

June Is National Safety Month: How Safe Is Your Small Business?

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Workplace injuries are more common than you might think. In fact, 2.9 million non-fatal work-related injuries and illnesses were reported in 2015. The good news is, the number of workers getting hurt on the job has declined steadily since 2012.

As a business owner in particular, keeping your staff out of harm’s way is a top priority. In honor of June being National Safety Month, here are five tips for putting safety first.

1. Make safety a part of your business culture

Your culture, in a nutshell, defines who you are and what your business stands for. With this in mind, part of that means making sure you’re giving your employees a safe and healthy work environment.

Making safety an integral part of your culture starts with clear communication. Whether you have two employees or 200, everyone on staff should know the business’s safety policies and emergency procedures. They should also have a role in ensuring they follow the policies, with safety featuring regularly in day-to-day discussions.

2. Review your safety training procedures

A good safety training program can be invaluable to your bottom line. According to the Occupational Health and Safety Administration, an effective health and safety training program can save your business $4 to $6 for every $1 you invest in it.

Not sure how your program measures up? Take a close look at your training initiatives. Do employees only receive training if they’re new? How often do you hold meetings to review safety procedures or hold fire drills? If these are sporadic at best, it might be a sign that it’s time to get serious about making sure your staff is equipped to avert workplace hazards.

3. Keep gear up to date

Inspect your supply of safety gear regularly. For instance, it’s good to have a fully-stocked first aid kit and fire extinguishers charged and ready to go. You might need wet floor signs if you have a store or restaurant. Also, protective gloves, safety eye wear and earplugs may be on the list for a construction business. If you run a business like a gym or health club which requires specialized equipment, like an automated external defibrillator (AED), review and maintain the manufacturers’ recommended maintenance schedule.

4. Assess trouble spots

Self-assessment, conducting regular physical audits of your business premises, can help detect potential dangers and changes in environments. Areas to assess can include:

  • Lighting: adequate to complete tasks without strain
  • Walkways and stairways: clean and with secure handrails.
  • Safety guards: in place.
  • Air and ventilation: good quality and adequate circulation.
  • Work areas: free from sharp objects or protruding edges.

5. Check your insurance coverage

Hopefully, you and your employees stay injury-free but if an accident occurs, the right insurance can be a lifesaver. Specifically, that means having adequate worker’s compensation coverage. Each state determines if a business must purchase worker’s compensation insurance. Even if you have just one employee, you’re better off being safe (and covered) than sorry.

Building a Loyal Community Network for your Business

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Spotlight on Chicago’s Rogers Park

Chicago’s Red Line is a 23-mile vein of commuter railway connecting the northern and southernmost parts of the city. Near its northern extremity, you’ll find the Morse Red Line stop where Rogers Park Provisions and Rogers Park Social reside.

Here, owners Erik Archambeault and William Meek have spend time building a loyal community that stretches to the far reaches of their namesake Rogers Park neighborhood and beyond.

“We hated that people who lived in Rogers Park always had to leave the neighborhood to go out,” says Erik. “We’ve lived here for 11 years and this is a great neighborhood. People in Rogers Park deserve nice things”.  After being laid off in late 2013, Erik decided it was time to finally fulfill his dream of owning his own business. While his first goal was a cheese shop, he caught wind of a bar in the neighborhood going out of business. He put the cheese shop on hold, bought the bar, and Rogers Park Social was born.

Rogers Park Social - Storefront

Roger Park Social’s storefront.

Having lived in the neighborhood so long, both Erik and William knew one thing about folks who lived in Chicago’s northernmost neighborhood: they’re price-savvy. Many residents move to Rogers Park because they get more bang for their buck. This was one of the founding principles behind Rogers Park Social. They wanted a place where locals could go for a nice night out without breaking the bank.

From the first time they opened their doors, Erik and William knew they were onto something. The prices were right, the vibe was right, seats were full, and locals kept coming back.

Rogers Park Social - Interior

Roger Park Social’s relaxed living room-esque lounge.

Staying Local

In late 2015, the partners caught wind of a storefront a few doors down becoming available. Finally, Erik felt was the right time for the cheese shop; Rogers Park Provisions was born. An eclectic blend of boozy purveyor and niche gifts, the Provisions arm of their growing franchise further fulfilled the promise of bringing value to Rogers Park at an affordable price, while allowing them to enhance their efforts of building a loyal community. At both Social and Provisions, the pair focuses on local distillers, brewers, dairies and creators. Shelves stocked with pancake mixes, wines, whiskeys, vodkas, urban gardening items, and bath and body products filled the room — all made right in Chicago.

Rogers Park Social - cocktail menus

Hip and modern cocktail menus showcase signature drinks

“A key part of our growth and loyal community base is our focus on keeping what we do local,” says Erik. “Every one of our staff lives in the neighborhood. We support local artisans. That brings local people into local businesses — showing how you’re doing what other bars or shops aren’t doing”. Furthermore, he says it’s not uncommon for a new bar patron to glance at their spirits list and not recognize a single distiller. “That’s an invitation. Try something local. And we’re helping other local makers grow because we’re a part of introducing people to what they make.”

Rogers Park Provisions - Full Shop

Rogers Park Provisions focuses on local Chicago artisans and makers.

Social Outreach

The duo decided to focus on a strong social media presence for Rogers Park Social from the onset. “You have to be out there, all the time,” Erik insists. “Whether it’s Yelp or Facebook, I’m on there. If people like something, I say thank you. If they don’t, I want to make it right. I get in there with them so we can make this the best experience they’ve ever had”. They also use Square for its Point-of-Sale (POS). It emails customers receipts and lets them rate their experience using both stars and comments.

The Rogers Park Group (including Social and Provisions) also plays a significant role in giving back to the Rogers Park community. They recognized there were needs not being met for some of Rogers Park’s lowest income residents. Consequently, this led to a partnership with the Sunday farmer’s market that runs along the street between their shops and the train tracks. They host a variety of fundraisers here, including an annual Wine Stroll, where 100% of the proceeds go directly to a local food access program. “If you’re going to run a local business, you have to support the entire community. We can’t just open our doors and expect people to come,” shares Erik. “We serve our paying customers and the area’s lowest income residents with the same heart.”  This is one of the best ways to go about building a loyal community.

Expansion to New Markets

At the end of May, the Rogers Park Group will officially be opening their third location in a Chicago neighborhood a few miles south called Uptown. Comparatively, Provisions Uptown will be three times the size of Rogers Park Provisions. It will afford them business opportunities they previously missed out on due to a lack of storage space. They’ll now be able to take advantage of bulk and volume pricing because they have warehouse space. Having that extra space lowers their costs and lets them pass an even more affordable experience on to their customers.

How did they find three locations in three years? The third location actually came to them.

The Uptown Chamber of Commerce heard of everything they were doing in Rogers Park and asked if they would be interested in doing something similar in Uptown. As a result, this led to a conversation with a landlord and within 72 hours, they’d signed the lease for location number three.

Millennials Want to Work Deep In the Heart of Texas

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Where do millennials want to work?

Texas has one of the youngest work forces in the country; and millennials are flocking to the Lone Star state in record numbers to join small businesses or to launch them. Of the top 10 cities where millennials show increased interest in working for small businesses, three are in Texas: Houston at number 3, Austin at number 6, and Dallas-Fort Worth at number 7, according to the job search site Indeed.com.

“We know that millennials make up the largest age group in the workforce today,” Paul Wolfe, vice president for Indeed told Small Business Trends. “Small business employers desire millennials because of their fresh perspective and technical skills. Smaller businesses attract them because they can directly see the impact their work has on the company’s success.”

Flexibility and Passion

Matt Mayes, president of San Antonio-based MaGi Foods, a 12 employee food manufacturing company, certainly agrees. He finds millennials bring a passion that is essential for a small businesses to succeed. That passion is reflected in everything from their political views to their social awareness to their minimalism.

“I see this generation can take on multiple projects with ease and requires little instruction or hand holding,” Mayes wrote in a column for Texas CEO Magazine. “As a small growing company, we are forced to do more with less. We welcome a workforce that is willing and able to take on a variety of tasks – no matter what the physical or mental requirements.”

These tasks include the steps around physical inventory, production line, marketing presentations, or trade shows. “These showcase examples of value-added activities. For a small company where resources are tight the millennials take it in stride,” he says. “Working multiple projects in a fast paced environment seems well suited for this generation.” At the same time, he notes that small business owners must have new expectations for managing millennials. “If a successful outcome does not occur in the timeline provided, they may need help to move on to the next project, perhaps in a different department all together.”

Entrepreneurial Focus

Millennials are also coming to Texas to launch their own small businesses.  Austin has been recently named the best area in the country for young entrepreneurs by NerdWallet, a personal finance website. Nearly one fifth of the area’s residents are aged between 25 and 34, and some $18 million in small business loans are currently distributed among each 100,000 residents.

“Many top cities for young entrepreneurs are on the expensive side. Three of the top 10 cities (Austin, Salt Lake City and Midland, Texas) offer costs of living below the national average,” explains Nerdwallet’s CFO Jonathan Todd. “By reducing living and office space costs, entrepreneurs have more cash to invest in their growing businesses.”

Millennials Aren’t Monolithic

Texas demonstrates the diversity of millennials, depicted often as a monolithic group. More than 20% of U.S. millennials are Hispanic, nearly double the share of Hispanic boomers. In Texas, though, Hispanics represent a larger share of millennials than Anglos, 42% to 38%.

Typically, millennials are flocking to hip cities, like Austin.  Data from DCInno.com, San Antonio was among the nation’s fastest-growing cities for college-educated millennials over the last four years. The influx of millennials has brought growth to interior neighborhoods, such as the Pearl District. It also shows how Texas’ popularity with millennials also involves the variety of lifestyles the state offers them.

“Austin millennials and San Antonio millennials are two different breeds,” Lara Kilgore, a 28-year-old transplant from Phoenix told Forbes. The former “are going to be more focused on having an edge, being cool”. With San Antonio, “You’re coming here because you’re logical. You want to save your money.  You may be entrepreneurial.  But you know that’s going to take some cash, and so you want to put that away.”

San Francisco’s Paid Parental Leave Law: What Your Small Business Should Know

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The United States is one of the few nations where employers are not nationally mandated to provide paid parental leave, according to data amassed by the Organization for Economic Cooperation and Development (OECD). However, cities like San Francisco have implemented paid leave ordinances requiring businesses with 50 or more employees to provide supplemental income.  The state will require smaller employers to comply later this year.

If you run a small business in San Francisco, it’s important to understand how this applies to you so that you can be in compliance. You’ll also need to plan in advance in case you have one or more employees on paid leave. Whether the law already applies to your business or your compliance date is approaching, here are a few things you need to know about the Paid Parental Leave for Bonding with New Child Ordinance (PPLO).

Dates of Compliance

The vast majority of employers were required to follow the mandates of the PPLO on January 1st of 2017. That means businesses in San Francisco with 50+ employees must provide supplemental income to eligible workers. The ordinance requires businesses with 35+ employees to comply starting July 1,2017.  And businesses with 20+ employees follow on January 1, 2018.

Your Responsibilities

For up to six weeks, employers must pay qualifying employees the difference between the amount the California Paid Family Leave program pays the worker and the employee’s total salary. Since California’s benefits are 55 percent of the employee’s salary, employers will need to be prepared to pay 45 percent. However, there is a cap placed on the combined amount an employee can be paid. This would affect employees making $110,902 or more per year.

Eligibility

Not every employee is eligible for this benefit under the PPLO. An employee must have been on the payroll for at least 180 days before the family leave begins. Employees must also complete at least 40 percent of their work in the city of San Francisco. Employees must also qualify under the California Paid Family Leave’s stipulation. This stipulation indicates that the employee is taking time off “to bond with a new child entering the family.”

Planning ahead

Even if you don’t have an employee who will soon be eligible for paid leave, it’s important to plan ahead. This can include:

  • Establishing workflows and project management tracking to maintain momentum.
  • Cross-train employees to take over each other’s duties before someone takes leave.
  • Formalizing transition of responsibilities so no work falls through the cracks.
  • Having detailed job descriptions for each position so you can reallocate duties temporarily.

 

3 TED Talks Every Small Business Owner Should Watch

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Although it can be hard to find time to read, watch or even listen to business content when you’re running a small business, making time for self-improvement is key.

Perhaps one of the best and easiest ways to boost your business knowledge is by watching TED Talks. The nonprofit organization TED (short for Technology, Entertainment and Design) began in 1984 as a conference dedicated to “ideas worth spreading”. In 2006, TED began posting some of its most popular speeches online. Three decades later, thousands of people have given 18-minute or shorter talks in more than 100 languages.  They have covered topics ranging from business and ethics to music and art, and pretty much any other topic you can imagine.

The three talks below offer advice for business owners. Once you’ve watched these three videos (it will take less than 45 minutes total, so you can watch them as soon as you finish reading this post), search TED’s database (currently more than 2,400 videos strong) for more favorites to help you grow as a business owner. Try to fit at least two talks per week into your schedule. Get creative: listen to audio during your commute, watch on your phone while you’re at the gym, or even sneak in a few minutes while you’re sitting in a waiting room. You’ll find the payoff is more than worth it!

1. “How Great Leaders Inspire Action” by Simon Sinek

Simon Sinek’s TED Talks has been viewed more than 31 million times. It’s the number two most-viewed TED Talks ever. In it, Sinek answers the question, “Why do people do what they do,” with actionable advice leaders can put into practice today to help inspire action in employees, customers, and other key audiences. “Whether they’re individuals or organizations,” he says, “We follow those who lead, not because we have to, but because we want to.”

 

2. “Two Reasons Companies Fail — And How to Avoid Them” by Knut Haanaes

In this popular TED Talks Knut Haanaes asks: “Is it possible to run a company and reinvent it at the same time?”.  In just over 10 minutes, he shares tips about innovation, success, and how to find balance between the two. Whether you’re new to running a small business or are a fourth-generation entrepreneur helming the family enterprise, Haanaes’ gives guideposts for every business looking for ways to propel your company into the future while managing day-to-day operations.

 

3. “Five Ways to Kill Your Dream” by Bel Pesce

Brazilian entrepreneur Bel Pesce’s talk may reinvigorate small-business owners chasing their biggest dreams. Pesce suggests that the dreams owners consider audacious are the ones which deserve to be chased. Her funny and inspiring talk clocks in at under 10 minutes.  But it is full of helpful tips on focusing your goals, when to accept advice and when to trust yourself.

 

BONUS: Share This TED Talk With Your Employees

TED Talks aren’t just great for business owners; hundreds (if not thousands) of talks offer great tips for employees too. Encourage your employees to expand their own horizons with TED resources. A great talk to get them started is Nigel Marsh’s talk entitled, “How to Make Work-Life Balance Work”.  At just over 10 minutes (short enough to watch during a break) the presentation resonates with viewers. In fact, it has garnered more than 3.6 million total views.

From Side Hustle to Business Behind the Scenes of New York Adventure Club

From Side Hustle to Business: Behind the Scenes of New York Adventure Club

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What are some great side hustles?

A side hustle has to start somewhere.

Far beneath New York City’s Grand Central Station there is a secret train tunnel to the Waldorf-Astoria Hotel that once carried President Franklin D. Roosevelt. Behind a nondescript door is a secret sub-basement power station called M42 that Hitler once plotted to destroy during World War II.

These are just two of the locations listed on New York Adventure Club’s (NYAC) Behind-the-Scenes Experience at Grand Central Station.

Unlike other tour companies in New York City, NYAC’s target market is locals — not tourists. CEO and Founder, Corey William Schneider is the mastermind behind this “mostly for locals” tour company.

From side hustle to cohesive strategy

Schneider created NYAC in 2011 after he realized he had fallen into the “Manhattan Bubble,” which he refers to as a world that revolves only around work, bars and the occasional weekend brunch. When Schneider first launched NYAC, it was “very much a side hustle” for him since he was in a full-time consumer marketing role at Time, Inc.

“Since I had a full-time job, it was difficult to dedicate a lot of time to NYAC. So doing 1-2 events per week was plenty,” Schneider says. “I also didn’t really have a clue about how to run a business. Which meant, in the beginning, I tended to ‘go with the flow’ verses map out a cohesive strategy.”

Schneider’s go-with-the-flow approach to getting his small business off the ground included focusing on the first steps to establish his business – incorporation, bookkeeping and website/logo design. For him, both NYC & Company, the tourism association of New York City, and SCORE NYC were invaluable business resources.

The challenges of business financing

Regardless of location, cash flow can often be a major source of stress for business owners.  But NYC is one of the most expensive cities in the world and finances can be even more challenging here. To survive, Schneider recommends a multitude of support systems:

  • trusted friends and colleagues who can provide business strategies and financial advice
  • an accountant to handle corporate taxes
  • a business coach who can provide insight into how to become a better CEO and run a better business
  • a strong sense of adapting to the challenges your business will face.

“It’s been quite a roller coaster on the financial side.  I’ve had periods of huge financial successes, and others with demoralizing setbacks,” Schneider says. “There are a handful of events that provide the majority of NYAC’s revenue.   If one disappears (like it did earlier this year), it highlights how vulnerable the company is. This has been a learning lesson to continue finding new sources of business.  You never know which ones will dry up.”

“It’s very expensive to live here — if I don’t generate enough revenue for the business to pay for my rent and living expenses, then I’ll be toast,” Schneider says. “Also, there are endless amounts of things to do in NYC, which is indirectly competing with every NYAC event. NYAC is competing for time, which is every New Yorker’s most prized possession, so our experiences better be top-notch.”

Taking Off

While growth was slow at first and work was first done on weekends and evenings, Schneider has been able to successfully grow his event startup and has been the full-time CEO since February 2016. “I scheduled at least one event per week so that my members could constantly engage with New York, and each other,” Schneider says. “The more events, the more engaged people, and the larger/faster NYAC could grow.”

The club is now a 7,000-member strong community that hosts events meant to get members out of their normal routine and into sides of New York City that many people don’t know exists. In April 2017 alone, NYAC hosted more than 40 events throughout NYC.

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