Archive for Business – Page 12

WE – Women in Entrepreneurship

Youngstown, Ohio is a smaller city on the outskirts of Ohio that has circulated entrepreneurial ventures in and out of storefronts for decades. A company called the Youngstown Business Incubator developed a program they like to call the WE Program, short for Women in Entrepreneurship. The WE Program “creates economic opportunities for women through entrepreneurial education and training, mentoring, and networking.” Their focus specifically on women branched from a mission to promote “minority-owned enterprises,” which they hope will bring personal and community growth.

The WE Program emphasizes three phases – WE Create, WE Launch, WE Grow – that women can apply for, according to whatever stage in the entrepreneurial startup women find themselves. The WE Create phase is a “four-week program that offers four workshops and educational sessions to help women who are ready to enter the world of entrepreneurship but need help developing an idea.” This phase is for the imaginers, the ones who have the ideas but have no clue where to start and need some structural workshops. The WE Launch phase “includes ten weeks of classes that teach the fundamentals of owning and operating a business.” The primary focus of the WE Launch phase is to take already-started businesses and aid them in launching their product or service into the market. The WE Grow phase, phase III of the Accelerator Program, “gives women four weeks of marketing strategy and tools to grow their existing businesses.” Each phase has an application that can be completed on the Youngstown Business Incubator website, and any woman can apply. Each program applicant is reviewed and applicable to win a grant award from each program, which has significantly changed the course of many women’s businesses within Mahoning Valley. Check out the program for yourself!

Youngstown Business Incubator

 

Find the website here: https://ybi.org/we/

Andrew Mason

Some build one great company that they lead and love their entire lives others build several mediocre companies that do pretty good. However once in a while you get an entrepreneur who builds several great companies. That is the case of Andrew Mason. Andrew started his first business at the young age of fifteen as a simple bagel delivery service that did fairly well. After graduating college Andrew started his second business The Point which allowed for activists, grassroots and protestors to be able to organize and collaborate the most efficient and best possible way. Several years later in 2007 he created the company Groupon which allowed companies to connect more directly with customers to allow for special deals and promotions. The company became so successful that in 2011 Google attempted to buy the company for $6 billion. Mason declined and currently Groupon is still growing bigger and bigger each day. Andrew shows that one should never be content with mediocrity and we should all strive to be better and better that is what a true entrepreneur does.

Hey it’s WordPress!

Matthew Mullenweg grew up with hobbies like coding, art and economics. A fun mix. One of the main founders of WordPress, his hobbies and skills throughout his life led to many amazing web related ideas. In 2005 Matt left school at Houston and a consulting job to start his overhead business, Automattic. This later led to a slew of other companies that used Automattic as a launch pad, including WordPress. He was just nineteen when he decided to change the way people use the internet to publish.

Automattic and all of its resulting companies has turned into a completely virtual company of over 1,100 employees in more than 62 countries.

WordPress, which is used by many authors and writers to publish blogs, was started because of the closure of b2, the only other open source platform option at the time. Having used b2 throughout his life, its end was a pain for Matt. The idea and plan for WordPress started when Matt was approached online by a fellow coder after he had talked about the lack of a publishing space.

Using b2 as a starting base and template, the two entrepreneurs proceeded to build upon the main idea while improving any faults. A classic mash up of ideas and innovation, WordPress is now used by over 31 percent of the web. It is only one of many successes Matt made for himself, but it very much added to the open source world of the web.

He works on it constantly and takes joy from the benefit people receive.

From educational to professional, WordPress has added levels of simplicity, convenience, and efficiency to the way people work. Matt has an entrepreneur’s  spirit, and from his career history so far, it is easy to see he looks for problems to solve and thrives in finding solutions.

Hello Walden

Hello Walden is a virtual private coaching service that enables entrepreneurs, business professionals, designers, engineers, and anyone in-between to receive virtual coaching from professional coaches. Each coach is unique in their experiences and focuses so that every individual can find a coach that will be able to relate to them and help them. Hello Walden coaches help with a variety of pursuits, including starting a podcast, setting up a sales funnel, finding a new job, developing a product, writing a blog or a book, cultivating brand voice, fundraising for a startup, and many more. Clients begin by creating an account and filling out a questionnaire. This questionnaire begins by asking them to describe what they are working on, what their biggest challenges are, and where they need the most support. Then, it asks them what they hope to get out of coaching, what kind of coaching style they respond to best, and any other comments they want to share. Once they complete the survey, they are given a few options of coaches that may fit their needs best and they can look at schedules and find a time to call them or message them. Essentially, Hello Walden makes coaching personalized and easily accessible.

Madelin Woods, the founder of Hello Walden, is an experienced engineer and entrepreneur. She has experience working with IDEO, Facebook, Square, and many other start-ups. Madelin came up with the idea of Hello Walden when she was looking for some motivation and encouragement in her projects, but lacked a mentor or coach to help her. Coaching is mostly found through word-of-mouth, but Madelin wanted to create a trustworthy platform for business professionals to find coaching that will work for them and with them. So, Madelin built Hello Walden to help people craving the same mentorship she was seeking.

What stuck out to me the most about Hello Walden was the unique use of technology and people. Hello Walden is a website, but it is highly centralized around people and seeks to cater to each person specifically and effectively. If you visit their website, they have many success stories listed to emphasize how effective their service really is!

 

https://hellowalden.com/

Stitch Fix

Stitch Fix is an online styling service for women who are busy or need a change in their wardrobe. Each customer takes a style quiz and is assigned a personal stylist. The stylist picks out five personalize items that the customer would want to wear and sends them to the customer. There Is a $20 styling fee with every box to cover the stylists’ expertise and time. After trying on every product, the customer can return them for free or use the $20 dollars towards the clothes they want to purchase.

Stitch Fix was founded in 2011 by Katrina Lake. She started the company after her sister was her personal stylist and knew there was a market for women who needed or wanted fashion advice. She was attending Harvard when she shipped the first Stitch Fix box. When she first founded the company, they were only helping women but realized there was also a market for men. In 2016, they launched personalized boxes for men and offered plus sizes in 2017. As of 2020, they style men, women and children.

Stitch Fix’s mission as a company is to “change the way people find clothes they love by combining technology with the personal touch of seasoned style experts”. They take pride in knowing that each box is personalized for each client and that the personalized items can help them build their style. Lake’s goal when founding Stitch Fix was to help women discover their style and feel confident in what they wear.

Since Stitch Fix started, their sales have only gone up, making the company well-known and successful. They have over 2 million customers in the United States alone. Their sales and number of customers have gone up since the beginning of the pandemic. Their sales went from $370.3 million, a year ago, to $451.8 million in the second fiscal 2020, ending February 1st.  Many people have been turning to stitch fix for fashion styles and clothing pieces during the pandemic, instead of going to stores.

Whateverlife.com – Ashley Qualls

In 2004, when Ashley Qualls was only fourteen years old, she found herself deeply passionate about graphic design and coding. She grew up in a lower-class household with her single mother and younger sister. However, she was determined that her situation would not define her. She worked hard and created Whateverlife.com, aimed at providing her audience with HTML Tutorials and free MySpace Layouts. Her audience was teenage girls like herself, as she wanted to invoke in others the same passion for graphic design and coding that she had.

Ashley built her website all on her own with no investor, big-wig mentor, or notable source of funds. All she had was her own self-determination. Though she did not have much growing up, the amazing work that she did by herself made her 70,000 dollars in the first month that her website was live. As online foot traffic increased for Ashley, she made modifications to Whateverlife.com that made it possible for viewers to create an account on the website, upload their own projects, and earn reward points that they could use to purchase digital goods for their designs.

Just shy of her company’s third birthday, Whateverlife.com had already recorded between three and four million page views. Ashley and her customers were not the only ones fixed on the betterment of her business, as an anonymous buyer liked the idea so much that he offered 1,500,000 dollars to purchase the website from her. Just months later, Brad Greenspan, the co-founder of MySpace, was so impressed with her work that he offered an even larger sum of money in exchange for the company, not just one time, but twice. Ashley still determined to grow her website even larger, rejected all offers.

In 2006, after being offered millions of dollars for her online HTML Tutorial and MySpace Layout business and turning it down, Ashley purchased a house for her and her family. Unfortunately, shortly after turning seventeen and becoming a millionaire, Ashley was diagnosed with an autoimmune disease that caused her to suffer mass gastrointestinal issues. Her prosperous life went into turmoil, not to mention the loss of her business, house, and unborn child. Even throughout all of this hardship, her entrepreneurial spirit never died, and her determination to succeed never faded. She would not give up. In 2015, Ashley got a job that also vanished like sand between her fingers as she could no longer persist in the work environment with her worsening disease.

Though Ashley’s disease stunted her ability to do what she wanted, she was reinvigorated with hope when she read an article in The New Yorker by Megan O’ Rourke. This article made her realize that countless other people also struggle with the same disease as she does. This inspired her to create a blog called SickNotDead. SickNotDead, to this day, provides her with a place to advise, support, and create a community for others that suffer in the same way that she does. It is apparent in her motivational writings that now, more than ever, Ashley’s entrepreneurial spirit is alive and thriving. Once an entrepreneur, always an entrepreneur, and Ashley Qualls is an incredible example of this.

Are You Kidding- Martinez Brothers

In 2014, two brothers, Brandon and Sebastian Martinez, started their family business called Are You Kidding. Brandon was 14 at the time and has been the director of sales. Sebastian was 12 and is the CEO of the company, and their mom is the president. They turned their passion of socks into a company. Sebastian loved socks and was asked by their mom if they wanted to start a business. The two brothers started unique and creative socks to sell. They wanted to stand out from other sock companies and did so by giving back and making a difference. Their socks raise awareness for charities such as Autism Speak, Stand Up To Cancer, JDRF, Make-a-Wish, and more. They also partnered with schools to help other charities. The two brothers have designed socks for Breast Cancer Awareness Month, Be a Hero and Save Lives, American Cancer Society, and many more. They have donated over $300,000 to charities and incorporated a new way for their customers to learn more about the charities they donate to. On each tag, the customer can scan the tag and a video will play, giving information about the charity.

They have appeared on Good Morning America’s Shark Tank Your Life: Kid-Preneurs Edition and pitch their company to Daymond John, an inventor on Shark Tank. Since starting their company and making appearances on GMA and podcasts, they have expanded their business. At first, they focused only on socks because that was their passion but they wanted to expand and build their family business. Currently, they sell long sleeves, t-shirts and socks. On their website, they have a charity collection tab with a pair of socks that are hand drawn for each specific charity. They also have fundraisers to sign up for or by socks for. Their plans for the future include finding retail partners and making hats, shoes, and more apparel.

Building a business is a good lesson for kids. It teaches them how to start, run, and grow a business. Running a business is not easy and it takes lots of time and effort to make it run successfully. Businesses should also be about following your passion. Sebastian said it best. “If you don’t start with your passion, you’re never going to continue the business.”

https://areyoukiddingsocks.com/pages/our-story

https://www.entrepreneur.com/slideshow/337852

 

Makin Bacon Baby!

After Selling Millions, Family-Run Makin Bacon Battles Amazon CounterfeitersOne morning in 1993 an 8-year-old girl named Abbey Fleck and her dad were cooking bacon for breakfast. as she saw her dad’s struggle with all the bacon fat juice and cleaning it up with paper toils, she thought of an idea. What if there was a way to cook the bacon hanging as a dish of some sort collects the fat? That’s when Abbey and her father began to design what would eventually become the Makin’ Bacon dish. It’s a square, inch-deep skillet made of microwave-safe plastic. It has 3 T-shaped supports rising up from its center. The bacon cooks while draped over the crossbars of the central supports and the fat drips down into the dish.
Abbey’s solution and invention were not only an easier and healthier way to cook the bacon but it was also an inexpensive way. The dish itself only cost 7$. Knowing they had an amazing product Abbey and her father founded the company, A. de F. Ltd., and began selling Makin Bacon the next year. (1994) Since then the product has gotten tons of promotion from “Good Housekeeping” and they even negotiated a deal with Amour for the Makin Bacons packaging in the same year of release. Abbey even made a personal appearance on “The Late Night Show with David Letterman” and on “The Oprah Winfrey Show”.
Abbey has gained a lot of entrepreneurial experience since then. She settled a patent infringement suit against a company in Pennsylvania that had begun to sell a similar product of hers. She acquired a patent for her “microwave cooking machine” in 1996. Still only 11 years old at this point.
Today the Abbey Fleck’s Makin Bacon is available on Amazon and at Walmart. She got the offer from Wallmart to distribute her product fairly soon after her release.

She is an inspiration to fathers and daughters out there that can work together to create something great. Even at that young age to she had a natural knack for business and entrepreneurship. Thanks to her bacon is better!

No Room in the Inn

Sometimes it is difficult to find rooms at hotels. It can be even more difficult to find cheap rooms that are still up to your standards. Brian Chesky saw this as a problem and did something about it. Chesky grew up playing hockey and lifting, however, he always had a love for art and design. While he attended the Rhode Island School of Design, he met Joe Gebbia who shared this same concern. After working some design jobs they moved to San Francisco, but they eventually ran out of cash and needed to do something about it. In October 2007 there was a design conference where the hotels in the area ran out of rooms. Gebbia and Chesky had the idea to rent out their space to those who had nowhere to stay. This is where Airbnb comes to fruition. They began to run with this idea while being joined by an engineer friend Nathan Blecharczyk. Since then the service has blown up and is offered in more than 191 countries worldwide. The company is now valued at $15 billion.

What I think is most cool about this idea is how unique and simple it is. They made an app that allows for people to rent out spaces they own. It is a wonderful idea and super cheap for them. Airbnb has no product, they just use the spaces people offer up for others to rent out for short or long term. This idea really gets me thinking that entrepreneurship does not have to be selling a physical product or making an invention, it can just be an idea that uses what is around you to make the lives of customers so much easier and potentially more comfortable.

Arash Ferdowsi and Drew Houston

https://www.thebalancesmb.com/top-young-entrepreneur-businesses-4176881

https://www.inc.com/30under30/2011/profile-drew-houston-and-arash-ferdowsi-founders-dropbox.html

These 2 successful young entrepreneurs are the founders of a company called Dropbox which they officially started in 2007. It is a free file-syncing service that uses computer clouds and allows people to sync photos, videos, other files, etc. anytime they need. Customers are able to both share their files and also put them into storage as well. This business is in the category of software/infrastructure and it is very interesting how this business idea came to be. Drew Houston came up with the idea one day while he was waiting at a bus stop and was trying to finish some work on his laptop when he realized he did not have his USB with him so he was not able to do any work. He started to write some computer codes during this and it stemmed into the idea for the company Dropbox. He teamed up with Arash Ferdowsi who was a student at MIT in computer science and they became the dream team for this business to thrive. The company is very successful and has over 500 million users. Their overall market cap comes to about $16.7 billion. They have even expanded their company into 4 other languages besides English including Spanish, German, French, and Japanese. These men definitely possess important entrepreneurial traits and I especially like how Drew Houston used a personal story/experience that had occurred in his life to come up with a solution to this problem that many other people most likely experience as well. They have shown innovation through personal struggle and have created a widely popular platform for people when the world of technology was still advancing (considering they founded it in 2007). The pair were able to take advantage of their skills and the time period the world was in and obtain great success from their hard work.