Cate Luzio had no intention of beginning her personal enterprise. She did not understand of herself as an entrepreneur; she did not have a stable plan when she left her 20-year profession in company banking.
However when interviewing for jobs in February 2018, conversations stored coming again to her concepts for advancing girls in company management roles, and in addition serving to information them to entrepreneurial success. She wished to supply a platform for assist, for mentorship, for teaching and networking. Eight months later, she opened the doorways to Luminary, a 15,000-square-foot area for working and networking in New York Metropolis.
The pandemic has made her grateful for 2 formative selections she made: Writing a sturdy marketing strategy earlier than founding the corporate, and funding the entire operation herself.
“I wished to ensure that I managed our future and I wished to ensure we had no debt and that we had liquidity,” Luzio instructed Inc.’s What I Know podcast. “Fourteen months into that, the pandemic hit. And people two causes are why we’re nonetheless right here.”
When New York issued stay-at-home orders in March 2020, Luminary wasn’t jolted solely by having to its shut its doorways for some time. Present members–both company and individual–weren’t paying for one thing they could not use. Inside two months, 80 % of Luminary’s income had dried up. Curiosity, nonetheless, had not.
“Rapidly we began listening to folks from completely different cities saying, ‘Hey, do you’ve got a digital membership? Hey, the place I can entry this? Hey, are there methods to connect with different members within the group?'” Luzio says. “And it was like a lightweight bulb.”
Luminary went from 220 in-person occasions in New York Metropolis in 2019 to greater than 1,000 digital ones involving members in 36 international locations this previous yr. And whereas the venue could have been completely different, the marketing strategy wasn’t.
“Our mission did not change. I did not change instructions,” Luzio says. “I simply tailored to the panorama and the surroundings.”