"I pretty quickly got to a point where I don't need to understand everything, because [the team at Guidant] does. And that was a very comfortable place for me to be."
Terrence Wallace, Venture X Bethlehem
How Terry Wallace Bet on Himself and Built a Community in the Process
Terrence Wallace
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Starting with a Healthy Dose of Skepticism
So when he learned that he could use his retirement savings to fund a business without paying early withdrawal penalties, without taking on an immediate tax bill, and without giving up equity to investors, his first reaction was not excitement but skepticism. It sounded, frankly, a little too good to be true.
“Wait a minute,” he recalled thinking. “I can take my 401(k) and invest in myself? I was waiting for the other shoe to fall. It just seemed like it couldn’t be this great.”
Rather than walking away, Terry did what he always does: he started asking questions. As the answers came back clear and consistent, his doubts began to ease, and in 2019 he became a Guidant Financial client. The following year, he opened the doors of Venture X Bethlehem, a premium coworking and flexible office space in Bethlehem, Pennsylvania.
Why Bethlehem, and Why Coworking
Bethlehem has deep roots as an industrial city, and in recent years it has continued to evolve, drawing entrepreneurs, independent professionals, and growing businesses to the region. For Terry, that sense of momentum made it feel like the right place to invest in something of his own.
At the same time, the way people worked was changing. More professionals were working remotely or building independent businesses, and many of them wanted somewhere professional to focus, meet with clients, and connect with others, all without signing a long-term commercial lease. Venture X, a national coworking franchise, offered exactly that kind of flexibility, along with modern amenities and the backing of an established brand, and Terry believed the model could thrive in Bethlehem.
Today, the space offers private offices, dedicated desks, coworking memberships, meeting rooms, a podcast recording studio, and virtual office services. Its members include entrepreneurs, consultants, startups, and small business owners, each of whom works a little differently, and the range of options lets them choose the setup that fits their schedule and their business.
From Questions to Confidence
Terry describes himself as someone who likes to understand how things work before committing to them, and that instinct shaped his early conversations with Guidant.
“I tend to be quite inquisitive,” he said. “I want to understand. And it’s not so much a lack of trust, but it’s more, I just want to know.”
Much of what turned his questions into confidence came down to the people answering them. Terry especially credits Keith Tracy, the Guidant team member who helped him structure his ROBS plan, for making it easy to trust not only the strategy but the team behind it.
“He was just so clearly knowledgeable. Deeply knowledgeable,” Terry said. “I pretty quickly got to a point where I don’t need to understand everything, because [the team at Guidant] does. And that was a very comfortable place for me to be.”
For someone who had started out waiting for the other shoe to drop, reaching that level of comfort mattered. It meant Terry could stop worrying about the mechanics of the financing and put his energy where it belonged, into building the business.
Opening in an Uncertain Year
Opening a coworking space in 2020 was not the backdrop anyone would have chosen. Daily life was being upended, and the very idea of what an office was for was being reconsidered almost overnight. Yet in many ways, that disruption accelerated the demand Venture X Bethlehem was built to meet. Remote workers still needed a professional place to work, small businesses needed flexibility more than ever, and many people were looking for a sense of community outside the home.
Terry met that uncertainty with the same steady, deliberate approach that had brought him into business ownership in the first place. He focused on the things within his control: the quality of the space, the experience members had each day, and the consistency of the community he was building.
That focus has paid off. Six years later, Venture X Bethlehem holds a five-star rating, and members often describe it as a place where they feel genuinely welcomed rather than simply renting a desk.
A Space Built Around Its People
While the space itself is modern and thoughtfully designed, Terry is quick to point out that the facility is only part of the story. He credits much of the location’s success to his small team, who build relationships with members, keep day-to-day operations running smoothly, and create the welcoming atmosphere so many members value.
Terry’s own view of his role is refreshingly down to earth. His goal is to provide a reliable, professional environment where people can do their best work, and as he puts it, “As long as the lights work, I’m thrilled.” It’s a lighthearted remark, but it captures the practical mindset that has guided him from the start: build a strong foundation, take good care of the members, and keep moving forward.
What the Partnership Looks Like Today
Having worked with Guidant since 2019, Terry now has a long view of what it’s like to run a business funded through 401(k) Business Financing. For him, one of the biggest benefits has been how little the ongoing relationship asks of him.
“The ongoing follow-up is minimal, which is what I want,” he said. “I’m doing my own thing. I don’t get in any trouble with taxing or accounting or anything like that.”
That peace of mind has freed him to focus on running and growing Venture X Bethlehem rather than keeping up with the administrative requirements that come with maintaining a retirement plan, and he’s cheerfully candid about how little of it he has to think about.
“I still don’t know what a 5500 is,” he said with a laugh, “but I know we get it done every year. So that works out nice.”
That same honesty shows up in how he talks about Guidant with others. Terry is careful about the recommendations he makes, and he has clearly given some thought to why.
“I don’t tend to be a recommender,” he explained. “Mainly because I think people often do that because they made a choice, so it should be a good choice for you. Well, I don’t know your situation. I have to really know that something’s worked well.”
Over the years, he has recommended Guidant to a handful of people when he felt it genuinely fit their circumstances. Those recommendations come from his own experience rather than a blanket endorsement, which is exactly how he prefers it.
Looking Ahead: Building Long-Term Value
Even with six years behind him, Terry is still thinking about what comes next. As Venture X Bethlehem continues to grow, he has become increasingly interested in the factors that shape a business’s long-term value.
In a recent conversation with Guidant CEO Jeremy Ames, Terry raised a question that many business owners eventually find themselves asking: what is my business worth today, and what could I be doing now to strengthen its value over time?
“I’d love to know,” he said, “if I were to go out to market with this business, if someone were to say, over the last two years, if you had this or had done this differently, your valuation would be much higher, I would want to know that.”
It’s the same curiosity that led him to Guidant in the first place, a willingness to ask good questions, learn from people with experience, and make informed decisions about the future.
Six years after opening its doors, Venture X Bethlehem has become a genuine hub for professionals and growing businesses in the community. Terry is proud of what he has built, and he remains focused on strengthening it, supporting his members, and making room for whatever comes next.
The Guidant Touch
Terry used Guidant’s 401(k) Business Financing (ROBS) solution to invest his retirement funds in his Venture X franchise, which allowed him to get started without taking on a traditional business loan or paying early withdrawal penalties.
For a self-described inquisitive person, the key was a process he could understand and a team he could trust. Once his questions had been answered, he was ready to let the experts take it from there.
“The process instilled a confidence so quickly,” he said. “I handed it over. Tell me what you need from me. Let’s just do this thing.”
Today, Terry continues to lead Venture X Bethlehem with the same thoughtful approach that guided his decision to pursue business ownership, and in the process he has built a professional community in the city he chose to serve.
Want to See More?
If Terry‘s story resonates with you and you’re considering business ownership, the Guidant Financial team can help you understand your options with clarity and confidence, including how 401(k) Business Financing (ROBS) can help you fund your business without taking on debt.
For more success stories and expert insights, visit our YouTube channel: https://www.youtube.com/@Dont-Quit-Your-Daydream
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