Jim Correll, director Fab Lab ICC at Independence Community College, Independence Kansas 

Julie Eisele always knew she wanted to do her own thing; that is, have her own business, she just didn’t know how that would come about. She and her sister had set up all kinds of stores along the sidewalk, one where they made crosses out of sticks, selling them to neighbors. That gave her an early taste of the satisfaction of adding value to something and exchanging it with a customer for something else of value; cash. Out of high school, she elected not to go to college instead engaging in various kinds of jobs including a big one of raising a couple of kids. Eventually she obtained her real estate license and then the opportunities started coming. 

Starting New Business In A Recession 

In 2009, a year after one of the biggest economic recessions many of us will remember, she and husband George were saving money to build a garage. Julie was working as a real estate agent in this local market that had not recovered from 2008. The broker talked to Julie about buying the business. She went home to talk it over with George to which he calmly asked, “Are you nuts?” On many levels, it seemed like a crazy idea. One, other than the sidewalk businesses as a kid, Julie had no experience owning and operating a business. Two, there was the residual effect of the recession. Three, there would be the money required to buy the business. Still, Julie just thought that if she could make it work at this point in time, she should be able to make it over the long haul. They put their garage project on hold so the couple could use the money to buy Midwest Real Estate in 2009. 

Importance of First Impressions 

With no business ownership experience other than the sidewalk stores as a young girl, Julie set about working 16 to 18-hour days learning accounting, management and all other aspects of running a busy real estate brokerage. One of the first things Julie did was begin to change the “brand” of the office. The receptionist station was made up of three non-matching desk components that were duct-taped together. The receptionist faced away from the entry door. She used some of the garage money to purchase new computers and workstations. She wants her offices to have a welcoming “homey” feel. She knows the importance of first impressions and pays a lot of attention to the look and feel of the facilities. 

She is an active member in all communities where she operates, understanding that everyone has an obligation to be active in community service in order for them to be great places to live and work. 

Opportunities continued to come with the creation of an auction company to aid people in selling their property and a rental company to manage their rental properties. In 2016, Julie opened her third office in Fredonia. In 2019, she recognized an opportunity and need, opening the first full-house air B&B (Bed and Breakfast) in Independence. 

Gut Feeling Decision-Making 

Julie has since hired an accounting firm, so she doesn’t have to do the books herself. She feels that what she learned in the beginning gives her a better knowledge and appreciation of her company’s financial information and the role the accountants can play in her ability to successfully manage the business. She uses her gut feeling to make decisions and says the few times she didn’t trust her gut, she’s regretted. In a world professing “data driven decision-making,” Julie is one of the first entrepreneurs I’ve heard come out of the closet and admit to using gut instinct. 

She doesn’t compete with her agents. She looks at her role as one of a servant leader, sending leads their way and making sure the business is managed in a way that will make the agents successful. The agents have the freedom to turn down any listings that don’t fit the business model. 

It took a few years, but Julie and George have started their garage project; they now have a concrete pad to park on although no garage yet. In spite of the cultural narrative presenting entrepreneurs as swash-buckling risk takers, throwing the dice on their business ideas, Julie is an example of how 98% of new businesses start, including those in the Fortune 500. Someone recognizes a need and makes a series of small bets, like garage money, to get the business started and then adjusts the model to fit the needs of the market. 

Listen to my podcast interview with Julie. Google Correll Files podcast. 

Youth Entrepreneur Challenge - $1,000 First Prize 

An entrepreneurial experience in our youth can do a lot to set us up for success as an adult. All area youth are invited to compete in the Youth Entrepreneur Challenge sponsored by Montgomery County E-Community. The competition ends mid-February. Follow the links at www.fablabicc.org for registration information. 

Jim Correll is the director of Fab Lab ICC at the Center for Innovation and Entrepreneurship on the campus of Independence Community College. He can be reached at (620) 252-5349, by email at jcorrell@indycc.edu or Twitter @jimcorrellks. Archive columns and podcast at jimcorrell.com.