Always Be an Open Book: Interview with Nellie Akalp, Founder and CEO of CorpNet
I recently went one-on-one with Nellie Akalp, founder and CEO of CorpNet.
Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?
Nellie: Like most, my entrepreneurial journey was not a straight and narrow path. It has curves and hard stops then slow starts, and all you can think of! The experience of starting a business with just $100 and growing it into a quickly fast-churning company was very rewarding. It seemed like my husband (who is also my business partner) and I were a success overnight. After Intuit acquired our first company, we decided to take a few years off to focus on our growing family of four children. But we soon found ourselves bored and too motivated to retire early.
In 2009 we thought, “Hey, we did it before we can do it again!” and launched our current company, CorpNet.com. We thought, “Hey, we know exactly how to make this a success!" and we went right to work as we did in 1997. However, we soon found ourselves quickly realizing that 2009 was a very different landscape than 1997. We were now up against many big-name competitors in a very saturated market. What worked before was not the solution now.
We were close to closing our doors a few times with CorpNet, but because of our passion for the space, our quick thinking, and also some great timing, we were able to turn things around during the pandemic. We found an opportunity to launch a new service and went with it. Making that decision brought CorpNet over 200% growth in just a few years and we haven’t stopped since!
Adam: How did you come up with your business ideas? What advice do you have for others on how to come up with great ideas?
Nellie: We came up with the idea for an online legal document filing service while in law school. My husband came back from one of his classes and thought of this great opportunity. I helped by turning the idea into a reality and we’ve never looked back since.
My advice for others who think of a brilliant idea and see an opportunity is to jump on it! Make your moves before others do so you can stand out and beat the crowds.
Adam: How did you know your business ideas were worth pursuing? What advice do you have on how to best test a business idea?
When we started our first company, we didn’t know what would happen. But we didn’t have much to lose then. We had mediocre jobs, law school debt, and lived in a small rental apartment. So we figured what the heck, let’s try it! Once we launched that one-page website the orders literally started flowing in overnight. We knew we were onto something so after law school, instead of going that traditional route of working at a law firm, we both invested our time into our own company. It was the risk we made at the time that paid off!
For others, I would say try to test the waters before you quit your 9-5 if it's an option. Ask family and friends. Host a small focus group offering a free lunch to bounce ideas off of people. Or simply launch your idea and see what happens! Either way, do something to start instead of always thinking “Wow, this would be a good idea…" and never doing anything about it.
Adam: What are the key steps you have taken to grow your businesses? What advice do you have for others on how to take their businesses to the next level?
Nellie: We’ve done a few things this year specifically to continue our growth trajectory with CorpNet.
The first was to invest in the customer experience. When we first launched CorpNet in 2009, we had about 5 team members and each one of us went above and beyond for every single client. Providing stellar customer service is something that set us apart from our competitors. We set the bar high, and continuing this approach gets difficult as your team grows from 5 people to now over 160. To ensure our customers are taken care of, we hired a CX team which has helped tremendously.
We’ve also set our sights high on partnerships through our API. We’ve been working hard on our API and this year we secured two very big names, Intuit and Gusto, to streamline payroll tax registration for their clients. It’s been a tremendous success and we aim for more partnerships moving forward.
Finally, we’ve invested in the security of our business this year by becoming a certified SOC 2-compliant company.
For others looking to grow their business, my advice is to look at all aspects of the company. Don’t focus just on sales. See how you can make the processes simpler or get more returning customers. Be creative with your approaches and fill in the gaps.
Adam: What are your best sales and marketing tips?
Nellie: I am super passionate about sales and have always played a large role in this department, especially when the company was small and we had just a few team members. I’ve learned over the years the importance of finding the right fit for your company within the sales department. Whether as a sales lead or associate, ensuring that person is a good fit is vital to success. If you have any sense that the person you just hired will not be a great fit, my advice is to cut ties sooner rather than later. That way you can regroup and go back to the drawing board, eventually finding the perfect person to fill the role.
When it comes to marketing, my biggest tip is to position yourself and your company as a resource that can help people solve a problem. Whatever the problem may be, guide them to your solutions through blog posts and social media content that provide useful tips and information. Don’t simply push your product or service as a sale. If people find you, read your content and trust you as a resource in your industry, the sales will follow.
Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?
Nellie: As a leader who took a small 5-person team and grew it into a company with 160+ employees, my philosophy is to always be an open book. When we all were in-house in our Westlake Village, CA office my door was literally always open. I wanted to be a leader who my team could confide in whether it was something related to their job or something in their personal life that was causing issues with their job performance. My team knew that my door was always open and I was always accessible to them. Knowing that built a trust within us all that enabled me to lead us to the success we are today.
Now that we have many more employees, most of which are virtual and working in other states, my philosophy has not changed. My door is now ‘virtually’ always open to any and all of my team members. I want everyone to feel happy, safe, and secure in their job with my company. As a leader that’s my number one priority.
Adam: What is your best advice on building, leading, and managing teams?
Nellie: My best advice for building, leading, and managing teams is centric on building that foundation of trust. As I mentioned, I always have an ‘open door’ policy so as the CEO of a company, my team knows that I am available to them no matter what. Establishing that relationship and allowing my team to be vulnerable when they need help is a step to building trust. Once that trust is secured between you and your team members, it gives you the opportunity to lead in a seamless way.
Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?
Nellie: For other entrepreneurs and executives, my best three tips are:
Don’t focus too much on your competition. Of course, they need to be on your radar, but if you follow them you will get drowned out. Instead focus on how to make yourself, your product, and your services different so you can stand out and beat competitors.
Learn to say ‘no’. Throughout my journey of entrepreneurship, specifically as a female business owner, I am propositioned daily with opportunities from others. I think people assume I will say ‘yes’ and try everything out. But over the years I've learned that its OK to say ‘no' and pass on things I just feel are not a fit. By being blunt and upfront, you can save yourself much grief (and wasted time) in the long run.
Stay humble. We all start somewhere. It’s important to remember those early beginnings once success is achieved. I will never forget the days when my husband and I were in that tiny apartment navigating our then one-page website which basically started up this entire industry. It’s been such a journey and I ground myself often remembering where we started and how much we’ve achieved along the way.
Adam: What is the single best piece of advice you have ever received?
Nellie: The single best piece of advice I have ever received is to listen to my gut, my intuition, and walk by faith not by sight. When something does not feel right, you get this icky, sinking feeling in your gut, and for me, it has ALWAYS been spot on. In times that we've struggled, the days we thought CorpNet would not make it, I always listened to my intuition and my gut. I reminded myself that if something is happening right now, it is not happening to me, but it is happening for me. Even if I failed at a task, I often remind myself that my failures are my best lessons and I had faith. And with that, I have often been right. Every time I have taken a step back with CorpNet, we have regrouped, and we have come back stronger taking leaps ahead.
So, for others who may be in a tough spot, just remember that it won’t last forever, and if something does not feel right to you, stop fighting it and let things unfold as they should. Regroup, get creative, start brainstorming and you’ll find ways to come out stronger and achieve the success you seek!
Adam Mendler is an entrepreneur, writer, speaker, educator, and nationally recognized authority on leadership. Adam is the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one-on-one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal-winning athletes, political and military leaders - for intimate half-hour conversations each week. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities, and non-profit organizations. Adam has written extensively on leadership and related topics, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. Adam teaches graduate-level courses on leadership at UCLA and is an advisor to numerous companies and leaders. A Los Angeles native, Adam is a lifelong Angels fan and an avid backgammon player.
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