72: Outsite Co-Founder Liz Ribot on Raising $3.5 Million, Opening 15 New Co-Living Spaces in 1 Year and Building a Global Community

Liz Ribot shares her experience growing up in Puerto Rico, her travel journey, and ultimately co-founding Outsite—a global network of co-living spaces in some of the world’s most epic locations.

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She opens up about leaving her office job to pursue entrepreneurship, the importance of finding the right business partners, and then explains how the Outsite co-founders divide responsibilities and what her role as the COO entails. Liz explains the value proposition of Outsite and how their primary focus has shifted from “lifestyle design” to “building community”. She also explains how they screen guests, curate community, how their membership-subscription program works, how the virtual Outsite community arose and now thrives on the Slack platform, and what guests can expect when staying at an Outsite location. Liz also takes us behind the scenes of scaling the company and shares what it was like going through the “500 Startups” accelerator program, raising $3.5 million, opening 15 new locations in a single year, and what the #1 biggest business challenge has been for her throughout the process. She shares her top tips for productivity and stress management, and also shares her #1 hiring criteria. She then explains how she manages an internationally distributed team and coordinates project management across multiple continents and time zones. Liz then shares what travel means to her, how she structures her lifestyle as a location-independent business owner, and what the future holds for Outsite. FULL SHOW NOTES AND DIRECT LINKS TO EVERYTHING DISCUSSED IS AVAILABLE HERE.

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