YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The owner of a nearly 9-month-old business networking startup is making lemonade out of lemons after shutting down her former venture amid the coronavirus pandemic.
Jana Moreno, founder and sole employee of We&Co, said she started the business in July 2020 as a response to a lack of activity with WeDames LLC, her female-focused event company. WeDames hosted roughly 30 events annually since launching in 2016, she said, but the pandemic brought public gatherings to a screeching halt.
“During quarantine, I had the time to sit down and do the pros and cons of business networking and was really able to see what we could do that would be different from traditional business networking out there,” she said. “That’s why we launched in July and have been growing ever since.”
While Moreno said her professional pivot to business networking from niche events was made out of necessity, she admits WeDames was financially stagnating. She originally organized events for women during part of her decade living in Malaysia, beginning in 2006. However, it wasn’t successfully translating as a business in Springfield.
“It wasn’t losing any money, but it wasn’t making any money,” she said, declining to disclose revenue. “We were predominantly events. We had ladies-only events once a quarter, business mixers, happy hours, patio parties.”
Emphasizing small
Newly formed We&Co emphasizes small groups over large gatherings, as members network in huddles of five-10 people of any gender and industry. The twice-monthly meetings last an hour and can be virtual or in-person, Moreno said. The huddle members set their meeting schedules. Participants must meet certain key performance indicators, such as attendance requirements and business referrals each month.
“There is a networking aspect, and we do still have our events,” she said. “But when you’re meeting up twice a month for exactly an hour, you’re getting to work.”
Basic membership is $250 per year, which allows attendance to members-only events and access to the online business directory, member referral tools and business resources. Joining a huddle requires an application process. If the application is approved, the member is charged another $250 and placed in the business directory.
We&Co is a more expensive membership than other Springfield area professional networking groups. For example, a membership to Masterminds of Biz is $100 per year, while the Springfield Area Chamber of Commerce’s The Network, geared toward young professionals, ranges $150-$250 annually, according to the group’s websites.
Moreno said We&Co currently has 14 huddles and 66 members. The huddles are based on target audiences, such as real estate, construction, pet services and hospitality, she said, focusing on either growing a company’s book of business or troubleshooting industry issues.
“What we’re looking for is that you’ve been in your industry at least three years,” she said. “I want to know that you want to grow.”
Members include Sonny Koahou of First Command Financial Services Inc., Jacob Baize of Atronic Alarms Inc. and Sandy Thompson of Mid-Missouri Bank, according to We&Co’s website.
Mike House, sales manager with The Moving Co., became a We&Co member in August 2020. He represents the residential and moving services business in two huddles: 417 Home Heroes, which centers on real estate, and Veteran Boomers, a group that primarily focuses on services for active and retired military.
“We have a lot of veterans in southwest Missouri,” House said. “We like the idea of serving those who have served us and given so much.”
House previously was a member of Masterminds of Biz and Business Network International but said his work schedule made it too difficult to remain in them.
“One of the main attractions for me is that it is more hyperfocused to what we’re actually looking for,” he said of We&Co. “It’s a little more spot on; it’s more structured. I’ve gotten a lot better return on our investment for the time we’ve been in the networking group.”
He estimates he’s made a minimum of 100 new professional connections through We&Co and landed over 30 new jobs for The Moving Co. since August.
Scaling up
Starting We&Co was less than a $1,000 investment, Moreno said, adding she’s accrued over $24,000 in revenue from dues in its first nine months. While Moreno is the only employee, she subcontracts with John McCain of Dynamic Lead Solutions LLC to manage huddles and generate member leads. Additionally, Keisha Messina serves as an event coordinator for We&Co’s monthly business mixers and gatherings at area restaurants.
Moreno is aiming for another 35 members by July to reach triple digits. If We&Co hits the mark, revenue will surpass $40,000 for its first year, she said.
“Next month, we are rolling out our ambassador program, whereby we give finder fees to members who refer qualified professionals who join We&Co,” she said, estimating a 10% fee.
Other markets outside Springfield are in her long-term plans, but no timetable for scaling up is on the board.
“I want to grow comfortably here because we’re just 9 months old,” she said.
