One in an occasional series of features on Charlotte area businesses, nonprofits, and events, and how they are adapting to the “new normal.”
Our Subject: Tabbris – a Hebrew word for the Angel of Self-Determination — is an innovation hub for edgy, out-of-the box start-ups with fewer than 10 employees. The co-working space just opened in November and was up and running only a few months before stay-at-home orders were issued locally and statewide.
What’s been impacted: Jeff Brokaw and his co-founder agreed not to charge members their monthly fees until the stay-at-home order is lifted, which provided cash flow challenges.
“We’re a new company, and invested a lot of money in the space,” says Brokaw. “We have no revenue coming in, but we are still paying our manager and have other operational costs.”
Tabbris is allowing businesses to decide for themselves who are in essential services, but most members are choosing to work remotely.
Innovative pivot: Tabbris is offering members the intangibles of membership, like support and advice during a stressful time for any start-up. “We’re educating our members about ways they can survive, with resources they can reach out to.”
For example, Brokaw contacted his attorney to seek advice about how members can qualify for a small-business disaster loans with the state’s disaster declaration. He shared the advice with members, so they wouldn’t need to use their limited time and money to do the same.
The support also reaches out to non-members or potential members, in the form of grants Tabbris is sponsoring at Charlotte’s Pitch Breakfast. The top 3 winners earn $3,000, $1,500, or $500 to help keeps lights on and money flowing at their businesses.
“We’re being creative to get our name out,” says Brokaw,“If you could roll out of bed and make a pitch that wins you $3,000, wouldn’t you do it?” He’s even lining up sponsors to offer more prize money next month.
Reactions: “It’s all been pretty positive,” says Brokaw. “Our community is supportive of our efforts, and grateful for the flexibility.” Even though Tabbris is very selective about who can join, members are sharing their experiences with friends, which could bring in new and innovative talent.
Forecast for future: Once Tabbris can resume the physical space of their business, they look forward to the growth that comes from the flexibility the offered and the loyalty it encouraged. The incubator’s goal is to fortify an entrepreneurial mindset in the Charlotte community.
“We want to see the startup community in Charlotte grow full of new and edgy, innovative businesses,” says Brokaw.
Find out more about Tabbris at https://tabbris.com/