Industry
Joanna Peck
Co-owner
Hampton Pacific Funding Los Angeles, California
"Owning a small company is all encompassing," says Joanna Peck '00, co-owner of the real estate investment bank Hampton Pacific Funding. "You think, dream, obsess about it constantly-I love it." She and her business partner bring in complementary skills along with aligned goals to the venture, based in Los Angeles. This allows her to enjoy an active lifestyle, including involvement with Everychild Foundation, a unique women's charitable group supporting children in need.
Getting Started
Since her early twenties, Joanna had entrepreneurship as her long-term career objective. However, she struggled in determining what type of business she would run, what resource to use for start-up, and other questions. "I also realized that I was not the type of person to just start a business from scratch," she recalled. "Rather, I needed some type of 'business shell' with which to work." This would allow her to utilize her strengths of turning around troubled firms or scaling up operations of an existing company.
Following business school at Chicago GSB, Joanna was working in finance at Avery Dennison when a college friend approached her about partnering on a business he had started in Los Angeles. "The fact that he had a business shell for me to expand and take in a new direction was perfect."
Joanna weighed going into a partnership very seriously, as it was not just the friendship that was on the line. It was also important that a potential business partner had complementary talents, as well as a similar vision and goals. This alignment was critical in personal life objectives also, including where they wanted to live in five years, how they liked to spend their personal time, and whether they each wanted to have children in the future.
Once both Joanna and her new business partner determined that they were a good match, they committed to the pursuit. "We decided to approach our relationship and partnership like a marriage-for better or for worse, we were in this thing together," shared Joanna. "This chemistry provided a critical foundation for the success of our working relationship and the direction of our company."
The Challenges of a Growing Business
Hampton Pacific Funding is a real estate investment bank located in Los Angeles. Joanna co-owns the company with business partner Bryan Graybill. The firm offers real estate brokerage, finance, and investment services. They also own an equipment leasing finance company, which finances equipment for small- to medium-sized companies. This division is currently raising a private equity fund to finance the leases.
The greatest challenge thus far has been human resources. "Finding talented and bright individuals who are attracted to a small business in an entrepreneurial environment is a constant struggle for us," stated Joanna. With a young and growing company, there is a high risk of employee turnover. "Not everyone is comfortable with this type of constant corporate evolution," she said.
The greatest achievement so far is the success and evolution of the partnership. The partners continue to learn about each other's strengths and weaknesses. "We argue and fight about matters, but at the end of the day, we are still together-just like a healthy marriage."
The future goals for Hampton Pacific Funding include expansion of the businesses both horizontally, into other operations, and vertically, through internal growth. The partners are not interested in going public or selling out. "Bryan and I are in this for the long-term. We both enjoy being 'entrepreneurally' active," stated Joanna.
Her relationships and active lifestyle complement Joanna's demanding schedule. Both she and her husband David are dedicated to their careers, and she cites this shared focus as one reason for the success of their marriage. Her business partner has also been an asset. "We watch each other's back and serve as back-ups for each other," Joanna said. "If I want to take a vacation, I can, because I trust Bryan is in charge."
On weekends and vacations, Joanna is very physically active. She enjoys surfing, skiing, running, and tennis with her husband. The couple spends time playing at the dog park with Mona Vida, "our Doberwoman." "Like most women, I also enjoy expensive shoes and handbags and fine wine," she added.
Everychild Foundation
Joanna's strong commitment to community service led her to join Everychild Foundation in Los Angeles. It was born out of the belief that women in Los Angeles can work together to award grants that make a serious difference in the lives of children in need. The group provides flexibility in members' involvement, a structure that is just right for this entrepreneur.
"The biggest differentiating factor about Everychild is that has a no-fuss attitude towards fundraising," she said. "Rather than using the laborious, stressful methods of silent auctions and dinner benefits, the organization raises money from membership dues." Each woman contributes $5,000 annually with no other requirements for membership, although optional events are hosted throughout the year. "This is perfect for me, because I can customize my involvement in the organization to how busy I am."
The group targets one non-profit organization each year with a donation of $1,000,000. Carefully selected by the members, each project profoundly helps children facing disease, abuse, neglect, poverty or disability. Recognized by Newsweek as an exemplary foundation, Everychild involves accomplished women from diverse fields including banking, law, medicine, and the arts. As a result, a side benefit of membership is the networking opportunities. Members include GSB alumnae such as Joanna, as well as University of Chicago law graduates and others. It is based in Los Angeles.
To join or learn more about Everychild, visit www.everychildfoundation.org or contact Joanna at joanna.peck@hamptonpacific.com, (310) 247-7411, or 9000 W. Sunset Blvd. Suite 1203, Los Angeles, CA 90069.
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