To celebrate the 2021 Women in Entrepreneurship Week, Oct. 18-22, The Skandalaris Center is highlighting five female-founded ventures and sharing their startup stories.
Today’s Featured Entrepreneur is Dea Hoover (BU ’92) of Are We There Yet?
Dea Hoover started Are We There Yet, LLC in July 2005 and employs 3 people. A fun and educational tour company, Are We There Yet? stands out from the crowd by focusing on the small details. When you travel with them, you travel with the owner, Dea Hoover, which means you stay in the nicest places, dine in the best restaurants, and find hidden gems throughout the tour. Dea Hoover was an Olin Cup Champion during her time at WashU (the predecessor to the Hatchery class and the Skandalaris Center).
Tell us your startup story – how did you get to where you are now?
Savvy marketing, networking and hustle. I brought experience from my family business, retail, car sales and the Olin School of Business group projects. I learned relational marketing at Saturn and realized that’s what my parents did. I used that to instill trust in me and my company. Travel is an excellent vehicle to run a scam. (The last scene in Catch Me if You Can) I understood the importance of integrity and trust to gain lifelong travelers. I targeted the Baby Boomers. It’s paying off.
As a female-identifying entrepreneur, what challenges did you face? What tactics did you use to overcome those challenges?
Credit worthiness. I had bullets for a credit rating and score, but the sexism pervaded about how much credit would be extended to me without a man co-signing. I leveraged that into using 0% interest credit cards and paying them off early. I encountered sexism from many women group leaders too. These clients really preferred working with a man as they were in banking and felt that I wasn’t quite trustworthy or capable. I turned it by adding them to the mailing list then letting them call me. Empowerment worked.
What is the biggest lesson you’ve learned as an entrepreneur?
Always trust in your experience. If you don’t have experience, call up any successful entrepreneur and ask their opinion. People love to talk about themselves and are happy when someone finally asks for their advice. In general, true entrepreneurs are cooperative rather than competitive unless you are in their exact field. It’s tough being on an island versus being in a large corporation that often acts as a fiduciary. Like minded individualists are happy to have community and share.
What advice would you give to women considering creating a startup or entering a career in entrepreneurship?
Twofold: Don’t use your own money and have an exit strategy. Use other’s capital whenever it’s offered. You will feel the need to succeed be greater when you owe it to someone else. Owning your own business(es) will be all consuming. Think about where you want to be in 5 years, then 10 years. Life is not about work, work is about life. Decide what you want before the business takes it where it wants. Ask mentors about success and failures so you can use their pitfalls to stop yours. It may help you achieve your goals.
If applicable, what activities, groups, etc. were you involved with at WashU? What student groups, professors, classes had the biggest impact on you during your time at WashU?
I am an Eliot Society Chair for University Libraries and Lifetime Member of WashU Women’s Society. During university I was an Olin Cup Champion, a tutor, peer advisor in the Business School, Pep Band member, and selected to attend the WLTI (Women’s Leadership Training Institute).
Dea Hoover is the author of the book: STL Scavenger: The Ultimate Search for St. Louis’s Hidden Treasures published by Reedy Press. Order a copy at arewethereyetdea.com
Find out more about Are We There Yet on their website.
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