Interested in starting your own entrepreneurial journey in finance but unsure what to expect? Then read up on our interview with Tina Larsson, Co-Founder of The Folson Group, located in New York, NY, USA.
What's your business, and who are your customers?
The Folson Group® is a New York-based coop and condo consultant. Think “McKinsey & Co. for Residential Real Estate.” Our customers are NYC coop and condo boards.
Tell us about yourself
I got started by accident or circumstances. I had a 20+ year career as a business analyst in the financial services industry when our co-op board sent us a “letter” saying that they were increasing our maintenance fees by 5% - for the 10th year in a row. I said to my husband, - We need to run for the board to put an END to these increases. We spoke with our neighbors who felt the same way, so we helped a “coup” and took over the board.
The new board asked me to use my finance background and see if I could find some savings. I did what a business analyst does; I got the financials from some neighboring buildings to be able to compare data. I made some calls, eliminated some services, got competitive bids, and was able to save the building 💲💲💲340,000 over the first three years!
And that’s when I started my business.
What motivates me? I am on a mission to make every NYC coop and condo owner live in a building that is safer, more sustainable, and more affordable.
What's your biggest accomplishment as a business owner?
My biggest accomplishment is disrupting the NYC coop and condo industry to help coop and condo owners increase their property values. Coop and condo boards are unpaid volunteers with limited resources and assistance. Guide and seeing coop and condo boards take their building from operating in a passive mode only taking care of emergencies to a proactive building run like a business, all while saving them lots of money, is incredibly rewarding.
What's one of the hardest things that come with being a business owner?
I used to feel that the hardest thing about being a business owner did not have enough support and guidance to make the right decisions to grow my business. Then, I hired a business coach who provided me with all the tools and support I needed to take the business to where it needed to be and set it up for tremendous growth.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Find and hire a business coach that you like and trust.
- Be active on LinkedIn; it’s the greatest networking event I have ever been to and the easiest way to get your message out there and stay on top of mind with your network.
- Don’t give up; as they say; overnight success takes ten years.
Is there anything else you'd like to share?
I am passionate about making every NYC coop and condo owner live in a building that is safer, more sustainable, and more affordable.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
Turn your craft into recurring revenue with Subkit. Start your subscription offering in minutes and supercharge it with growth levers. Get early access here.