Scaling Two Businesses Against the Odds: Wendy Estrella’s Founder Journey
Oct 10, 2023
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Entrepreneur Wendy Estrella discusses her unique journey as a Latinx entrepreneur, scaling both her law practice and property management company in Lawrence, Massachusetts. The podcast explores the challenges she faced, the impact of the Leeds program on personal and business growth, the importance of recognizing opportunities, overcoming language barriers, and the experience of being a Latinx lawyer. The chapter highlights the need for more representation in the legal field and the challenges faced by underrepresented minorities in entrepreneurship.
Wendy Estrella found synergies between her law practice and property management firm, demonstrating the benefits of scaling two businesses together
The support provided by community programs like the Business Equity Initiative enabled Wendy Estrella to overcome challenges and successfully scale her businesses
Deep dives
Wendy Estrella's entrepreneurial journey
Wendy Estrella, an immigrant from the Dominican Republic, started her career by improving her English and attending community college. She later earned a law degree and co-founded two successful businesses in the region: a law firm and a property management and real estate development firm. Despite the advice to focus on one business, Estrella found synergy between the two and decided to continue running both. Her success is attributed to her willingness to take risks, her vision, and her determination.
Challenges and opportunities for minority-owned businesses
The case highlights the challenges faced by underrepresented minorities in starting and scaling a business. These challenges include limited access to capital, supply chains, contracts, and social networks. Wendy Estrella's story demonstrates the power of community programs like the Business Equity Initiative (BEI), which provided advisory services, strategic consulting, and capital. Through BEI, Estrella was able to grow her real estate portfolio and law practice, receiving guidance and support to scale her businesses.
Making an impact in Lawrence, Massachusetts
Wendy Estrella operates her businesses in Lawrence, a diverse city known for its immigrant population. She takes pride in providing affordable housing to the local community while contributing to the revitalization of Lawrence. By being deeply connected to the needs and culture of the Latinx community, Estrella has been able to identify market opportunities and address them effectively. Her story exemplifies the potential for businesses to drive economic growth and positive change in underrepresented communities.
Entrepreneur Wendy Estrella is attempting to simultaneously scale her law practice, as well as her property management and development company. What strategy will benefit both businesses, and is there a downside to scaling them together, rather than focusing on each one separately?
Harvard Business School senior lecturer Jeffrey Bussgang and Estrella discuss her unique founder’s journey – from immigrating to the U.S. to building both of her businesses in Lawrence, Massachusetts, despite the specific challenges she faced as a Latinx entrepreneur. The related case is “Wendy Estrella: Scaling Multiple Businesses.”
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