Entrepreneur Profile
Hillary Hobson, CMO/Co-Founder, Highest Cash Offer
Mini Bio
Young entrepreneur Hillary Hobson is CMO and co-founder of Highest Cash Offer, a real estate solutions company that works closely with homeowners to provide fast cash buyouts for their homes.
Name: Hillary Hobson
Title: Co-Founder and CMO
Company: Highest Cash Offer
Years in business: 1.5
Business location: Scottsdale, AZ
Number of employees: 6
Chief product: Real estate
Website: highestcashoffer.com
First of all, how is business these days?
We're setting ourselves up for a record-breaking fourth quarter. Our business is constantly evolving as we refine our processes. The momentum created by this last year has defined our corporate culture and shaped a framework built for success.
What led you to start your own business? 
I've been an entrepreneur since I was about five years old. I have to say, it's just built into who I am. Whenever I see a pain point or an angle, I never hesitate to jump right in at the chance to make it into a profitable business. I opened a used car dealership when I was 20 years old with $50,000 I had saved up. It was a huge risk in an industry that seemed simple enough, but I had absolutely no experience. The plan was to start a business while I was in business school so that I could apply what I was learning; however, it turned out to be an industry that didn’t fit me. That said, it was still worth every penny for what it taught me about running a business.
What sources did you use for startup capital?
Highest Cash Offer is self-funded by its four founders. We keep a majority of the profits in the company to support its growth and acquire new companies.
What do you think is your biggest business strength?
I am extremely resourceful. I've found that in order to keep a business innovative in a competitive industry, challenges need to be addressed with solutions that are a collaboration of parts and processes that work together. If the answer is right in front of you, it's also right in front of every one of your competitors. Every process we put into place is a unique compilation of components that align with our corporate culture, are backed by proper research, have clear and measurable goals, and have the right people in place to drive its success. These processes align with a kaizen approach to business that supports continual improvement.
What do you enjoy most about owning your own business?
There's nothing as rewarding as watching a business that I have ownership in progress and develop. I've never been great at answering the question of what my favorite hobby is because I always feel like my answer is somewhat boring. A hobby is supposed to be something outside of work that you enjoy. My passion and my hobby is my business. It's something that I can constantly improve, that challenges me, is rewarding, drives passion in my life, that positively affects my employees and customers, and provides constant education.
What’s your least favorite part of running a business?
There never seems to be enough time in the day to get everything accomplished. If I fall behind, it affects everyone involved, which can be stressful.
What do you think are important entrepreneurial skills to have?
It is absolutely crucial as an entrepreneur to prioritize and delegate. No one person can do everything. The inability to delegate can easily restrict a company's growth and create a stagnant and unorganized working environment that directly affects your corporate culture. Delegation not only allows you to focus on the big priority tasks, it also empowers your employees by showing them that you have trust in their capabilities.
What are some challenges you’ve faced in business and how did you overcome them?
Proper reporting has been a challenge in our business. We juggle thousands of contacts a month spread throughout the United States. Each potential customer has many variables within their contact profile that aren't necessarily measurable against the others. Our promise to potential customers is to guide them with a solution for selling their home or to have an offer for their home within 48 hours. We have to take into account the laws of the state in which they live, the closing process, the actual value of their home, their unique situation for selling, number of people who own the home, the taxes and liens on the home, the market condition of the area, the condition of their property, and whether we can agree on a price that's fair to them and still a wise investment for us.
We are slowly overcoming this challenge by implementing a very customizable CRM that allows us to manage each aspect of the process, from the initial contact to the close of contract. This software will enable us to input customized key performance indicators, store data, automate contact communication where it is needed, and allow us to focus on leading indicators and the drivers of growth instead of trying to stay organized.
What do you wish you’d known before you started out?
I can’t look back and think of anything I have done in business—whether it worked or didn't—that hasn’t contributed to where I am now. I don’t think there is anything I would have done differently. That's the beauty of entrepreneurship.
What is the smartest move you have made with your business so far?
My partners. We're a dynamic team of young entrepreneurial individuals with the same vision and drive to succeed. There isn’t anything more powerful than that when trying to grow a business. Each of our strengths balances the others' weaknesses. I often hear people say that they wish they could clone themselves to become more accomplished. I may have thought the same thing in the past, but after experiencing the effect of such diverse competencies, I can truly say the future is limitless.
How do you find new customers? What do you do to make sure they become return customers?
We find the majority of our customers through our website, social media, and direct marketing methods—marketing is crucial to the survival of our business. Our strategic marketing partner has a full-time team dedicated to our online presence. Every customer is a new customer with a different situation, so it's imperative that we put out as much information as possible in order to educate our potential customers.
What’s your management style with employees?
Our corporate culture caters towards a management style that empowers our employees. We hire individuals who are self-motivated and want to evolve with our company. We're very upfront with our vision and goals, and provide compensation and performance expectations that motivate our staff to make decisions. Constant learning is encouraged and embraced.
What are some other companies or entrepreneurs you admire, and why?
I admire e-commerce pioneer Jeff Bezos, the founder of Amazon. I remember bargain shopping for textbooks my first year of college on what was then primarily an online bookstore. Bezos believed he could personalize his site to everyone, and he has. He tracks Amazon's performance against 500 metric goals, which creates one opportunity after another. He's constantly improving and is never satisfied. That's truly inspiring.
Do you have a favorite inspirational quote?
“The best way to predict the future is to create it.”—Peter Drucker
What new initiatives are you working on?
Our business is still fairly new, so we're very focused on finalizing our processes and setting up an infrastructure that welcomes growth.
What advice would you give to someone hoping to start a business similar to yours?
There are a thousand ways to make money in the real estate industry. Zero in and focus on scaling your business around your niche. Become an expert and create a system that's easily duplicated. It's easy to get in over your head if you try to learn as you go. One transaction can be the difference between success and failure.
See full list of Entrepreneur and Business Executive Profiles
