{"id":27714,"date":"2023-03-29T21:43:55","date_gmt":"2023-03-29T21:43:55","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/03\/29\/hampton-is-techs-new-membership-community-for-chief-executive-officers\/"},"modified":"2023-03-29T21:43:57","modified_gmt":"2023-03-29T21:43:57","slug":"hampton-is-techs-new-membership-community-for-chief-executive-officers","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/03\/29\/hampton-is-techs-new-membership-community-for-chief-executive-officers\/","title":{"rendered":"Hampton is tech\u2019s new membership community for chief executive officers"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/03\/29\/hampton-is-techs-new-membership-community-for-chief-executive-officers\/<\/a><\/br>
\nHampton is tech\u2019s new membership community for chief executive officers<\/br>
\n2023-03-29 21:43:55<\/br><\/p>\n

\n

Sam Parr,<\/a> founder<\/span> of HubSpot-acquired newsletter and media brand The Hustle, doesn\u2019t watch \u201cSuccession\u201d because \u201cit\u2019s too real\u201d (and because he prefers watching comedy compared to behemoth business billionaires fighting). But when he announced his new project, Hampton<\/a>, an invite-only club for chief executive officers, the references started rolling.<\/p>\n

It\u2019s specifically one Succession quote that sticks, in which much beloved and eternally tortured character Kendall Roy describes his and his siblings\u2019 new media venture as: \u201cIt\u2019s like a private members club, but for everyone.\u201d Jokes aside, Parr\u2019s vision for Hampton isn\u2019t too far from that tagline.<\/p>\n

Hampton, built by Parr and media veteran Joe Speiser<\/a>, wants to give high-growth executives a high-impact community to lean on, whether it\u2019s through screen-sharing financials, or asking for advice because there\u2019s only one month of runway left. And as SVB\u2019s meltdown showed tech<\/a>, a strong network can be a way of survival.<\/p>\n

The company has been in the works for around nine months and has landed more than 300 members, including Morning Brew\u2019s Austin Rief, CB Insights\u2019 Anand Sanwal, Fresh Clean Tees\u2019 Melissa Parvis and Hootsuite\u2019s Ryan Holmes. In order to join the community, Parr explains, members need to have succeeded in one of the following: built a company with $1 million in revenue, landed $3 million in funding or previously sold a business for at least $5 million. Then they are interviewed for culture fit and to confirm that they are building digital-first businesses. So far, half of the members are venture backed, half are bootstrapped.<\/p>\n

Those who are accepted have to sign a confidentiality agreement. Then, they are welcomed to a custom platform that has a member director, where you can see profiles, request intros and see a map where other members are located. The portal also has a vetted vendor list and an event calendar. Hampton members additionally are put onto a Slack for daily chatting, which is used by 85% of members. Members are placed into an eight-person group that meets once a month with an \u201cexecutive facilitator,\u201d which Parr describes as business therapy.<\/p>\n

Since leaving stealth yesterday, Hampton has landed over 3,000 new applications. \u201cWe\u2019re not letting everyone in by the way, we\u2019re very slowly and meticulously looking at who is a good fit,\u201d Parr said. And for now, there\u2019s only room for 400 more members before Hampton hits its cap.<\/p>\n

The co-founder says he took notes from YPO, Young Presidents\u2019 Organization, and Vistage, a global executive coaching organization, when building Hampton. \u201cThose are awesome, but a lot of those people may be someone who owns a plumbing company, or someone who inherited like five apartment buildings in South Florida,\u201d he said. \u201cThey need their people, but our people aren\u2019t exactly that people,\u201d adding \u201cNo inherited businesses \u2014 you have to have started it and you have to be fairly aggressive about growth and personal growth.\u201d<\/p>\n

If it sounds exclusive, it\u2019s because it is (although Parr says that the name of the company is based on a street he lived near in Missouri, not the luxurious summer destination for the Upper East Side). Only 8% of applicants are accepted. Around 15% of members as of right now identify themselves as women, which is higher than some other community programs, but still shows a gap in diversity.<\/a><\/p>\n

One of Hampton\u2019s closest competitors, Chief, actually built a business valued at over $1 billion to solve that gap. Chief is a private membership club for women in leadership positions. It only accepts women who identify as a \u201cC-level executive, accomplished VP or equivalent executive leadership role within your organization,\u201d and have an \u201cestablished career with 15+ years of experience.\u201d And it recently expanded to the U.K. Like Hampton, Chief has a waitlist that is greater than its acceptees.<\/p>\n

Parr thinks that Hampton is even more niche than Chief because instead of working with people across different leadership roles, it\u2019s only working with chief executives and founders who have hit very specific growth milestones. Also unlike Chief, which has raised around $140 million in venture financing, Hampton isn\u2019t raising a penny of outside capital.<\/p>\n

Parr built one of the fastest growing email newsletters at The Hustle, before reportedly selling it for around $27 million.<\/a> He and his co-founder have pledged to invest up to seven figures of their own capital in the business, and as a result, they don\u2019t need to turn to investors for starter capital.<\/p>\n

While he thinks Chief will work out, he expressed the stress that occurs when venture capital backs community startups. \u201cCommunities aren\u2019t like a thing where you can just throw bodies at, you have to be very, very, very, very, careful,\u201d Parr said. \u201cI just didn\u2019t want to have to grow like five times every year.\u201d<\/p>\n

After the boom of community-oriented businesses in 2021, and the resulting sputter of some, there\u2019s fatigue in the market on if a membership will provide value. I have spent years covering the networks that people in tech take to land their first check, job, promotion or \u201cyes.\u201d I\u2019ve also seen how most community-focused companies all leap at the chance to go bigger \u2014 whether its accelerators growing their check size or simply the number of programs for entrepreneurs to go through.<\/p>\n

Around five months ago<\/a>, I wrote that it feels like we\u2019re at an inflection point for the community-focused startup: double down on what you know and focus on discipline though this downturn. If Hampton sticks to its early messaging, its incentives do seem different from other clubs (or Clubhouse, even) in that it\u2019s not viewing success as scaling through people.<\/p>\n

Parr is confident \u2014 they\u2019ve only had to conduct two refunds for unhappy members \u2014 but he isn\u2019t unaware of the market realities.<\/p>\n

\u201cI don\u2019t want to ruin my reputation and worst of all, if someone gives us their money we have to provide 10 times the value,\u201d Parr said. \u201cI am scared of that. I think that it will work. But it literally keeps me up all night.\u201d<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/03\/29\/hampton-is-techs-new-membership-community-for-chief-executive-officers\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/03\/29\/hampton-is-techs-new-membership-community-for-chief-executive-officers\/ Hampton is tech\u2019s new membership community for chief executive officers 2023-03-29 21:43:55 Sam Parr, founder of HubSpot-acquired newsletter and media brand The Hustle, doesn\u2019t watch \u201cSuccession\u201d because \u201cit\u2019s too real\u201d (and because he prefers watching comedy compared to behemoth business billionaires fighting). But when he announced his new project, Hampton, an invite-only club for […]<\/p>\n","protected":false},"author":1,"featured_media":27715,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-27714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nHampton is tech\u2019s new membership community for chief executive officers - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/03\/29\/hampton-is-techs-new-membership-community-for-chief-executive-officers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hampton is tech\u2019s new membership community for chief executive officers - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/03\/29\/hampton-is-techs-new-membership-community-for-chief-executive-officers\/ Hampton is tech\u2019s new membership community for chief executive officers 2023-03-29 21:43:55 Sam Parr, founder of HubSpot-acquired newsletter and media brand The Hustle, doesn\u2019t watch \u201cSuccession\u201d because \u201cit\u2019s too real\u201d (and because he prefers watching comedy compared to behemoth business billionaires fighting). 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