{"id":155073,"date":"2025-03-25T04:59:00","date_gmt":"2025-03-25T04:59:00","guid":{"rendered":"https:\/\/peraltafinancing.com\/alabama\/i-built-a-billion-dollar-company-in-birmingham-so-can-you\/"},"modified":"2025-03-25T04:59:00","modified_gmt":"2025-03-25T04:59:00","slug":"i-built-a-billion-dollar-company-in-birmingham-so-can-you","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=155073","title":{"rendered":"I built a billion dollar company in Birmingham: So can you!"},"content":{"rendered":"


\n<\/p>\n

\n
\"\"<\/a>
Shegun Otulana sold his Birmingham company for $1.25 billion<\/figcaption><\/figure>\n

By Keight Staub<\/em><\/p>\n

Shegun Otulana\u2019s name should sound familiar.<\/p>\n

I encourage you to check out the\u00a0Comeback Town article<\/strong><\/span><\/a><\/u> which profiled Shegun\u2019s entrepreneurial success\u2014specifically, how Shegun sold his former business, Therapy Brands, for $1.25 billion and made a name for himself in Birmingham and beyond.<\/p>\n

Birmingham: One or two connections away from someone who could change your life<\/strong><\/p>\n

Shegun moved from Nigeria to Birmingham in 1998 to study engineering at UAB. He later founded the computer software company, Zertis, followed by TheraNest and its parent company, Therapy Brands, a software solution for mental and behavioral health providers. In 2021, he sold Therapy Brands. Shegun is now the founder and CEO of Harmony Venture Labs<\/a><\/u><\/strong><\/span>, which helps validate, build, and launch startups.<\/p>\n

As I learned about Shegun\u2019s successful endeavors, I couldn\u2019t help but wonder, \u201cWhy Birmingham, of all places?\u201d (Why do we Birminghamians perpetuate this self-deprecating attitude? That\u2019s a topic for another article.)<\/p>\n

Like many of us, Shegun has emotional ties to the city. \u201cThis is where I met my wife, received an education, started and sold a business\u2026\u201d he said. \u201cI found myself here and realized this is my home now, so why not make it better? No one is going to do it for us.\u201d<\/p>\n

Shegun says he was also attracted to Birmingham\u2019s history, which he describes as \u201ca rich and meaningful story that anyone can feel connected to.\u201d<\/p>\n

Of course, there\u2019s more than heartfelt sentiments at play. Logistically, he believes there\u2019s one key selling point that makes Birmingham attractive to new entrepreneurs: our size.<\/p>\n

\u201cIn a city this size, you are only one or two connections away from the person who could change your life. Someone in your circle already knows someone who has what you need. You can\u2019t make those connections so easily in larger cities. This is among Birmingham\u2019s greatest strengths,\u201d he said.<\/p>\n

Birmingham: Affordable, exciting, positive momentum with a strong business community<\/strong><\/p>\n

When discussing the city\u2019s selling points, I had to bring up affordability. Birmingham is cheap! Everyone says it. The cost of living averages 8-10% lower than the national average, particularly in terms of housing, transportation, and labor costs.<\/p>\n

Shegun believes that while this is true, it\u2019s not a viable marketing strategy. We need to be careful about selling Birmingham short.<\/p>\n

\u201cTalent doesn\u2019t care about affordability as much as we think. If they did, everyone would live here. We need to couple affordability with excitement, positive momentum, and strong business communities,\u201d he said. \u201cTell them about how great the people are, how there\u2019s a real appetite for new ideas, and how you can experience less friction here than in other business communities. More expensive cities attract talent in greater volume than we do, so that\u2019s not the linchpin.\u201d<\/p>\n

When I asked Shegun about the city\u2019s drawbacks, he replied, \u201cWe all know the drawbacks. Every city has them. But that should not be the focus. When you teach a child to ride a bicycle, you don\u2019t tell them to carefully examine the scratches on the bike or remind them that other people have better bikes. You just tell them to face forward and focus on the road ahead.\u201d<\/p>\n

Birmingham: Strong business partnerships<\/strong><\/p>\n

To help Birmingham entrepreneurs get a jump start, Shegun has been instrumental in several local initiatives:<\/p>\n