Summary:
Shanaz Hemmati co-founded ZenBusiness, a $1.7 billion platform helping small businesses with formation and management.
Overcoming initial fears, she emphasizes the value of mentorship for women in male-dominated fields.
The company prioritizes AI integration and a people-first approach, including early adoption of remote work.
Her success mantra: Be fearless, ethical, and passionate, with a focus on putting people at the center.
Advice for entrepreneurs: start with a side hustle, engage customers early, and be ready to learn and pivot quickly.
From Engineer to Entrepreneur: Building a Billion-Dollar Business
Shanaz Hemmati, COO and co-founder of ZenBusiness, shares her inspiring journey from a computer engineering background to leading a $1.7 billion company that empowers small businesses. ZenBusiness offers an all-in-one platform for LLC formation, compliance, and financial management, helping entrepreneurs navigate the complexities of starting and growing their ventures.
Image Credit: Courtesy of ZenBusiness
Overcoming Barriers and Embracing Mentorship
Despite an entrepreneurial spirit, Shanaz initially hesitated to start her own business, a common challenge, especially for women in male-dominated fields. She emphasizes the importance of seeking out mentors who can provide guidance, assurance, and confidence. Her career included roles at Excite.com and an 11-year stint at HomeAway, which was later acquired by Expedia, giving her valuable experience in technology and business.
The Birth of ZenBusiness
In 2017, Shanaz co-founded ZenBusiness with Ross Buhrdorf after a coffee meeting where they discussed the idea of supporting small business owners. She was driven by a passion for this market, noting that small businesses are what keep the economy growing. The company has since prioritized innovation, including the integration of AI through tools like ZenBusiness Velo, an AI assistant that helps entrepreneurs streamline processes.
Key Principles for Success
Shanaz's mantra for leadership is: Be fearless, be ethical, be passionate. She explains that being fearless means acting despite imperfection, ethical behavior builds trust, and passion fuels progress. At the core, she believes that people are at the center of any great company, whether they are employees, customers, or the community.
ZenBusiness practices this by adopting remote work early on, listening to employee feedback to enhance work-life balance and productivity. This people-first approach has been crucial to their growth.
Advice for Aspiring Entrepreneurs
For those looking to start a business, Shanaz advises against overthinking and encourages taking action sooner. Launching a side hustle can be a low-risk way to test ideas, and engaging with potential customers to understand their pain points is essential. She highlights that continuous learning and the ability to pivot quickly are key to navigating surprises and driving business success.
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