Startup Savvy: Young Entrepreneurs Mike & Lauren Heist Of New Again Houses Shares Their Secrets For Rapid Growth and Success
An Interview With Eden Gold
Never stop seeking opinions, advice, and feedback from others — especially those who know more than you. And always be open to any constructive feedback you receive. As we’ve learned, that’s the only way you’ll ever improve.
The entrepreneurial landscape is more vibrant and challenging than ever, with young entrepreneurs at the forefront, driving innovation and redefining the boundaries of success in the business world. These dynamic individuals are not only creating new products and services but also building sustainable business models that thrive in today’s fast-paced, technology-driven environment. Their journeys are filled with lessons of resilience, strategic innovation, and the relentless pursuit of growth. As part of this series, we had the pleasure of interviewing Mike and Laura Heist.
Mike and Lauren Heist of Fair Haven, New Jersey are a husband-wife owner of a New Again Houses franchise, a franchisor specializing in the entrepreneurial acquisition, renovation, and profitable resale of older homes — adding value through construction upgrades. Backed by a proven business model, a suite of proprietary software platforms, and an exclusive lending relationship with Alta Capital, the brand has grown to more than 50 locations across the U.S. Both Mike and Lauren began their entrepreneurial journey by holding on to previous homes they lived in to generate revenue streams via recurring rental payments from tenants. The couple has now gone all-in on real estate development with the purchase of their own New Again Houses franchise in January 2024. Both Mike and Lauren are willing to share insights and helpful advice for other young entrepreneurs looking to establish — and grow — successful ventures of their own. One particular area of focus — building strong interpersonal communication skills capable of establishing solid relationships, based on mutual respect, throughout your specific industry’s ecosystem. To become a savvy startup proprietor, it takes respect, intelligence and willpower to overcome certain challenges and obstacles — as well as the desire to turn adversities into possibilities.
Thank you so much for joining us in this interview series. Before we dive into our discussion about cultural sensitivity, our readers would love to “get to know you” a bit better. Could you share with us the backstory about what brought you to your specific career path?
Mike:
Our backstory begins with the fact that we moved a lot. Instead of selling our homes, we held onto the properties as rentals, which gave us some great preliminary experience. But what really got us down this specific path was renovating the home we purchased when we moved from Brooklyn to New Jersey to be closer to family. It definitely needed some work, and we were excited to dig in. We interviewed contractors, got an architect, and Lauren handled all the interior design elements. In the end, the house came out exactly as we wanted it and became our inspiration to look into home renovations and remodeling as a career. Previously, I was in sales and marketing — with Milwaukee Tool and then Stryker Medical. After I left Stryker, I knew I wanted to start a business of my own but didn’t know what exactly. I spent a few months deciding what that might look like and determined that whatever route we took, we wanted to have a positive impact on our community. That was my main driving force.
Lauren:
When we did the renovation to our home, it really wasn’t anything too major. We moved a couple of walls out, painted, and updated the countertops. But even though these updates were minimal, we both took note of the big difference it made. My previous career was education — I was a school psychologist for 10 years. With my work, I really like to be hands-on and involved. When we made the move to New Jersey, I think we were both looking at what might be a fit for us in the future and decided to take a risk. I pretty much thought, you know, what’s the worst that can happen? If it doesn’t work out, we can always just go back to what we were doing before.
Can you share the most interesting story that happened to you since you started your career?
Mike:
I don’t know that I have anything interesting to share that stands out, but early in my career — and up to present time — I’ve always valued having strong relationships. And that’s really been the biggest aspect of being a franchise owner with New Again Houses. To succeed in the home flipping business, you need to have an extended team of people, all of whom have a specific job to do. So, when we first launched, I went back through my old rolodex and identified several contacts I previously worked with in construction and all of them were willing to sign on and help. So, now we’re working with a lot of the same contractors and people I’d worked with in my previous career. I didn’t expect that, so it’s definitely been interesting.
Lauren:
For me, the most interesting thing about starting this business has been the adventure. This new career path has really been interesting and intriguing. Every new project is different, and it’s really become an adventure we hadn’t expected. The adventuresome aspect of it all has really validated our decision to pursue an entrepreneurial life.
You are a successful individual. Which three character traits do you think were most instrumental to your success? Can you please share a story or example of each?
Mike:
As for character traits that have been instrumental in our success, I’d start with having a “learning” mindset. Even though we remodel houses for a living, we aren’t the ones doing the physical labor. But I wanted to learn everything I could about the business, so I’m constantly reading books and listening to podcasts. You have to be smart enough to admit that you don’t know everything, so be a good learner. Also, good communication skills are another trait to have — it’s such a key in this business. And lastly, I’d say practice being a good listener who always seeks feedback on how you can improve.
Lauren:
The character traits I feel are instrumental to our success include psychological traits such as being a perceptive and empathetic person, because it’s important to understand where people are coming from, and you have to be able to manage a lot of different personalities. You also have to be a hard worker who doesn’t shy away from a challenge. And you have to have strong organizational skills to keep track of all the data. In a lot of ways, I’m using the exact same skills I was applying when I worked as a psychologist in public education.
Ok, thank you for that. Let’s now jump to the primary focus of our interview about young entrepreneurs’ secrets to rapid growth and success. To start, how would you define success?
Mike:
I would define success as the ability to live a balanced life. It’s important to enjoy working hard and having a positive impact on the community, but you still need to balance that with spending quality time with family and friends.
Lauren:
When I look to define success, I think back to a story about my grandfather. In school, he was a B student and when he went to his principal for guidance, he was flatly told that he wasn’t college material. But he went on to be successful in spite of this assessment and would always stress the importance of having a strong work ethic. He liked to quote Thomas Edison, who said “Genius is 1% inspiration, 99% perspiration.” He’d remind us that success takes hard work — and not to get too comfortable.
What unconventional strategy did you employ that significantly contributed to your startup’s growth, and why do you think it was so effective?
Mike:
I think what was most unconventional about our entrepreneurial strategy was going with a franchise. Most real estate developers don’t go this route, but we came into this opportunity with a humble mindset. We knew there was a lot we didn’t know and that we lacked the tools and experiences many others have. But New Again Houses provided us with everything we need to build a successful business of our own. Even though a lot of people questioned our decision to franchise our way into real estate development, New Again Houses has set us up for success.
Lauren:
I completely agree with that answer and sentiment.
Can you share a critical pivot point in your startup’s journey and how you navigated the decision-making process?
Mike:
I’d say the most pivotal moment for me was when Lauren joined up with me to do this venture together. Had I gone it alone, I’d be treading water at best. We complement each other so well in terms of strengths and weaknesses and her partnership in this deal has been an integral part of the success we’re enjoying today.
Lauren:
I’m in total agreement on this. I can’t imagine starting a business venture like this without the full support of a partner. To be successful in this industry, it takes a lot of hard work, dedication, and energy. And it takes both of us to handle that.
How do you balance the need for rapid growth with maintaining a sustainable and healthy company culture?
Mike:
When it comes to balancing our rapid growth while building a sustainable culture, we’re fortunate to have the all the systems, tools, and business coaching we need built right into the franchising model provided by New Again Houses. I’m not sure anyone can prepare you to handle rapid growth — it’s something you have to experience to understand. We still get the autonomy we need, and that allows us to stay true to ourselves and our team members. Regular, open, and transparent communication is a must when you’re balancing rapid growth and a sustainable culture.
Lauren:
I agree that communication is how you find that balance. We work with so many different team members and contractors to get the renovations done and it’s important for us to know how everyone is doing. Thankfully, we do get a lot of face time with our crews and Mike does a tremendous job with encouraging everyone. It’s so rewarding to see how they react to this approach. Many have never experienced working in such a high morale environment. When we had our grand opening/launch party, we invited everyone. All of our teams, suppliers, vendors, title company, attorneys — as well as their families — got to attend. It was a perfect way to show everyone that we’re all in this together.
In what ways has your personal definition of success evolved since the inception of your startup?
Mike:
Our personal definition of success really hasn’t wavered or evolved since we began. When we formed the business, I was the one working on the mission statement, core values, all the things that would guide us — and we wanted to work with like-minded people. The ultimate goal was to have a positive impact on the community — and if we can maintain this, we’re continuing to do the right thing. To me, that’s success.
Lauren:
I take the same view. I’ve always believed that success takes hard work, and that viewpoint hasn’t really changed. I’m not a natural risk-taker and I never would have done this on my own. But the hard work we’ve put into the business has now allowed us to see the benefits of taking those risks.
Based on your experience and research, can you please share “5 Things You Need to Succeed as a Young Person in Business?”
1 . Success takes a growth mindset — always approach everything as a learning opportunity and be ready to develop a team to become better and stronger together. Having a growth mindset protects you. Because in real estate, just like any other industry, things can change fast.
2 . Emphasize the importance of relationships. We’ve done this with our team from top to bottom, right down the line. Nurture these relationships and always look to improve by showing your appreciation for others.
3 . You need to have strong organizational skills, which applies to any entrepreneurial venture. As we’ve learned in our own company, if you don’t prioritize your time properly, you’ll quickly get overwhelmed.
4 . Never stop seeking opinions, advice, and feedback from others — especially those who know more than you. And always be open to any constructive feedback you receive. As we’ve learned, that’s the only way you’ll ever improve.
5 . Remain strong. You need to have both fortitude and perseverance. Just like with our business, you may get told no a lot. There will be challenges and even times when you’re worried about going under. But we’ve learned that if you just take one day at a time and keep showing up, things will eventually work out.
What is one piece of advice you would give to an aspiring entrepreneur that you wish someone had given you at the start of your journey?
Mike:
The one piece of advice I’d give an aspiring entrepreneur is to make sure you have time for yourself. It shouldn’t be all-business, all the time. You really need to set aside time to pursue the things you love to do outside of your career.
Lauren:
As for advice, I’d tell any new entrepreneur to prepare for a rollercoaster of emotions. And when it hits you, it’s important to keep everything in check and find your balance. It’s also extremely important to practice self-care routines. Nothing is more important than protecting your mental health.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)
Lauren:
I’d love to start a movement where we take a collaborative approach to housing people. There is nothing I want more than for everyone to have a safe place to sleep at night.
Mike:
This really hits home for me too, as my own father experienced homelessness for a period in his life due to a variety of personal issues. I’m fully behind a movement where we could come together and figure out how to house everyone so they can experience what a safe space feels like. I actually think about this issue quite a bit — how do we turn vacancies into workable housing solutions?
How can our readers further follow you online?
You can stay up to date with our New Again Houses renovations and remodels via our website, https://newagainhouses.com/locations/nj/monmouth-county, and our Instagram account: https://www.instagram.com/newagainmonmouth
Thank you for the time you spent sharing these fantastic insights. We wish you continued success in your great work!
About The Interviewer: Eden Gold, is a youth speaker, keynote speaker, founder of the online program Life After High School, and host of the Real Life Adulting Podcast. Being America’s rising force for positive change, Eden is a catalyst for change in shaping the future of education. With a lifelong mission of impacting the lives of 1 billion young adults, Eden serves as a practical guide, aiding young adults in honing their self-confidence, challenging societal conventions, and crafting a strategic roadmap towards the fulfilling lives they envision.
Do you need a dynamic speaker, or want to learn more about Eden’s programs? Click here: https://bit.ly/EdenGold.
