Archive for Business – Page 22

Blake Ross the Firefox

Blake Ross is one fiery topic.  From the age of fourteen, he was already making big moves. He joined the likes of Netscape as an apprentice then went onto Stanford. His idea first hit the market in November 2004 when Blake was only nineteen years old. He began his endeavor to help his mother overcome her frustration with Internet Explorer. She was upset with its poor performance and how she could not book mark her favorite sites and it was riddled with pop-up ads. Viruses often plagued Mrs. Blake’s computer as well. Ross then took to learning programming for himself so he could one day fix those problems. At the age of only 10 he made his first website. In 1998, Netscape released its code to open source and allowed anyone to tamper with it. Firefox was then born from the ashes. Less than a year after its initial launch Firefox had been downloaded more than 100 million times and was soon threatening the big fish like Internet Explorer. Because Firefox was open source, thousands of programmers worked together to bring it to life and bring innovation to the website. Although not taking over Internet Explorer, it is still used by a mass audience. StatCounter released data stating that in 2010 32% of internet users around the world used Firefox compared to Internet Explorer’s 49%.  Blake Ross has a net worth of 150,000,000 dollars today and is a pristine example of the millennial entrepreneur.

 

Christopher Gray – Scholly – Scholarships

Christopher Gray grew up in poverty in Birmingham, Alabama. He had a single mom, and two younger siblings. None of his family had ever gone to college, but he was hoping to be the first. He did not really have anyone to help him pay for college, since his mom had lost her job during the recession in 2008. He was determined to find out how to get to and pay for college, so he started looking for scholarships. He did not have a computer at home, so he used the library computers where usage time was limited. He would also write his application essays on paper at home, then type them into the application on his phone. All of his hard work paid off, though. In the end, his total was $1.3 million in scholarships that he had earned.
Christopher could have stopped there and been satisfied with just going to college and living his own life, but he did not. He knew that there were thousands of other people just like him who wanted or needed scholarships, but there was not a good process out there for finding them. He also learned that about $100 million in scholarships go unclaimed each year.
So, he started Scholly, an online program to match students with scholarships. He developed a patent-pending algorithm to select the scholarships that fit each student, based on information about them. His major breakthrough came when he appeared on Shark Tank in November, 2015. Within the first few hours after the show was aired, Scholly received 80,000 requests. Scholly now has almost two million users. It has also connected students with over $100 million in scholarships to further their education.
Christopher Gray is an excellent example of someone who saw and experienced a problem, and figured out how to fix it. He has made the lives of many future college students much easier, and he looks forward to continuing to do that with further innovations to the program.

Venmo the revolutionary money sharing idea of our generation

Every college student at some point in time has a moment where they wish they could create the next best thing and become rich. For Andrew Kortina and Iqram Magdon-Ismail that is exactly what happened. These two college roommates came up with the idea for Venmo. Venmo is an app that allows people to give and receive money. If you forgot your wallet, no problem you can ask someone to pay for you and they can Venmo you the money right then and there.

Kortina and Magdon- Ismail developed this idea at first when they were trying to help friend start yogurt shop, they noticed the lacking of traditional sales software and wished they had something new to help fix it. At a local jazz show, Kortina and Magdon-Ismail thought of the idea of being able to buy a MP3 of the show instantly with a text message. Later, the idea was reinforced when Magdon-Ismail forgot his wallet during a trip, and needed to pay back a friend. He noticed how much of an inconvenience, especially compared to the possibility of mobile phone-based transactions it was to repay his friend for the money borrowed. They then started to work on a way to send money through their cell phones. Their original prototype used text messages but then quickly turned into a mobile app that we know today as venmo.

The company is now worth eight hundred million dollars and is growing steadily. These two college student turned a bright idea into a thriving business and now are their own bosses and live their dream lives. Starting as roommates at the University of Pennsylvania to now being business partners this idea was they start of a revolutionary company and the start to a lifelong friendship.

Image result for venmo creator

Eliminating the Need for Plastic in the Bathroom


In recent years, environmental concerns have come to the forefront of many industries. Such concerns arose for 14-year-old Benjamin Stern when he watched a documentary about the plastic-bottling industry and its effects on the environment. Stern saw that a great deal of the plastic used in bathroom products is not recycled and rather thrown into the garbage – a great ecological cost when the nonbiodegradable plastic finds its way to a landfill.

Stern began brainstorming ways to solve the issue of wasted plastic as it pertained to shampoos, conditioners, and other bathroom products. Combining this problem with the existence of soluble detergent pods, Benjamin had his solution. Within two years, Stern had developed a prototype for water-soluble pods containing shampoos and soaps, thus eliminating the need for plastic bottles in the bathroom. Seeing the simple, yet revolutionary nature of his idea inspired Stern to take it further. Personally calling cleaning companies such as Clorox with the desire for partnership did not produce fruit, but Stern did not give up. At age 16, Benjamin pitched his bath product company,Nohbo, on NBC’s Shark Tank, eventually closing a deal with Mark Cuban.

With the help of Cuban’s funds and mentorship, Stern was able to grow his company into a profitable, self-sustaining business. He cites his patience for his ideas to be fully realized as a major factor in his achievements. Stern waited for his solution to be well-developed before continuing and it afforded Nohbo a great deal of success.

Self Made Millionaire at 18

Related image One entrepreneur who made a name for himself in e-commerce and software is Hayden Bowles. At the young age of 12 years old, he began learning about business and traded stocks. In high school, all he did was sit in class on his phone and traded stocks, which his professors either allowed it or sent him to detention. By sophomore year of high school, he dropped out to pursue business. He started to pursue drop-shipping on Shopify and learned how to use Facebook and Instagram ads to leverage himself. He became so good that he generated roughly $20,000 per month just from Shopify drop-shipping alone. At the same time, Hayden worked hard to build his personal brand through his YouTube videos, Instagram page, and Snapchat following. He acquired business partners to help him manage his Shopify stores. At 17 years old, he embraced networking by meeting very prestigious people all over the country. He moved out of his parent’s house at this time in pursuit of his dream for financial independence and freedom. Hayden saw the opportunity to share his knowledge with the world by creating a buy-in mastermind course for drop-shipping where he provides exclusive strategies that he uses to build his own stores. I have personally joined this course when I built my own Shopify store and I can easily say it was worth the investment. Since then, Hayden has scaled his businesses and built new ones from the ground up. He is now projected to generate over $2 million in net income this year at the age of 18, and posts daily YouTube videos where he shares his knowledge and experiences.

https://www.youtube.com/watch?v=jCDSMegL2uI

Smart Scents

It seems as if entrepreneurs keep getting younger and younger. A 13 year old boy, named Hart Main created what would become the Beaver Creek Candle Company. The company started off producing and selling ManCans, a new kind of candle. ManCans are candles that have many manly scents such as bacon, campfire, coffee, fresh cut grass, and plenty more. The idea came about when Hart was teasing his little sister about the girly scented candles she used to sell for a fundraiser. With a bit of financial help from his parents they created the product, ManCans. ManCans is in approximately 150 different stores nationwide, and is very successful. From ManCans he has created other products for the company as well, including SheCans and specialty scented candles that smell and look like apple pie, cherry pie, and more.

Hart Main originally launched his business because he wanted to earn $1,200 for a bike to compete in triathlons. Hart has now surpassed his goal by a great amount. His business has given 100,000 cans of soup and $35,000 to 25 soup kitchens in four states. What is very interesting about this company is that all products are hand handcrafted, and each candle is carefully prepared, packaged and shipped by people in their workshop. They guarantee a high quality, long burning candle that pools evenly and delivers fragrance from the first light to last. This company has been surprisingly successful and they only plan to keep growing.

This young man, and his company are very inspiring to young people and he shows that entrepreneurship has no age. This young man started his company at 13 by simply noticing that candles are very femininely scented. Hart then created his product in pursuit of a goal, buying himself a bike. All entrepreneurial ideas start with a problem and I believe this demonstrates that concept perfectly. He noticed there were no manly scented candles, and wanted to do something about it. From that, the Beaver Creek Candle Company was born. As a person this shows that Hart is very goal driven, determined and innovative. Hart Main is also genuinely a great person and this is shown by his efforts to help soup kitchens by giving them soup and a portion of all of his sales. He is a great guy with great intentions and I hope this is an insight to others of what makes great entrepreneurs.

New Idea, Vintage Clothing

Now in their mid-thirties and married, Susan Gregg and Eric Koger began in 2002 with some used clothes and an idea. Susan had always had a love for vintage clothing but eventually came to the point where her passion outgrew her closet. As college students, she and Eric were always looking for ways to make money, and so they had the idea to begin an online vintage clothing shop, naming it ModCloth.

ModCloth had very humble beginnings, with one part-time employee working out of their basement, but over the next couple of years they began expanding rapidly. By the time that Susan graduated college, she realized that ModCloth could be her full-time job. In 2007, ModCloth had one million dollars in sales and raised one million in capital. From there ModCloth continued to expand its sales, bringing in $150 million in revenue during 2014. They grew to the point where they were selling styles from designers all around the world.

One impressive way that they measured demand was through a program called “Be the Buyer.” This program allowed potential buyer to view sample products, vote on them, and give input on each product’s price, style, etc. “Be the Buyer” really helped Susan to understand her customers and what they were looking for in ModCloth.

I think that ModCloth is a wonderful example of a passion made profitable.

 

Susan and Eric with their beloved pug.

ModCloth has since been sold to WalMart. Their website and YouTube channel can be viewed here.

Mobile Advertisements: Innovation in the Marketing World

Ed Hollands DrivenMedia

Creator of DrivenMedia, Ed Hollands (23)

One day, while in traffic, Ed Hollands had a “light bulb” moment. He saw three commercial trucks with completely blank sides and thought about how to utilize that space. The idea he came up with has made him a lot of money, 7,800 pounds per truck to be exact. On an average day in the UK, 55,000 people will view the advertisements that Hollands has placed on commercial vehicles. His startup, DrivenMedia, collects the, already mentioned, 7,800 pounds per vehicle plus VAT for a twelve month package. In addition to that, production costs for each vehicle is around 5,500 pounds. Hollands idea has proven to be very lucrative.

When questioned about his age, Hollands responded, “When making deals there have been some people who have doubted my capabilities because of my inexperience. In fact, the reality is quite the opposite, I am willing to bend over backwards to make opportunities work for my clients and investors.” He has taken on the stigma surrounding young entrepreneurs regarding experience and has flipped it on its head. Instead of focusing on the problem of inexperience, he has focused on his vision of innovating marketing in the UK. Traditionally, advertising done near transportation is on stationary platforms such as billboards. Hollands has innovated that industry by mobilizing advertisements. Companies now have the opportunity to advertise over a larger span of land, allowing for more people to view their advertisement.

Hollands has inspired me to think and work beyond the stigma that young people are too inexperienced. Rather than looking at that inexperience, I see youth as a new perspective to be brought to a situation. Clearly, Hollands displays self-belief in that he believes in himself and what he’s doing. He is motivated and is determined. His flexibility is displayed through his willingness to bend over backwards for his clients and investors. Hollands has found a niche in an industry for himself and has utilized his innovation to make money. His leadership and innovation are both impressive.

Nuts About Ice Cream

You scream, I scream, we all scream for ice cream; except, its not ice cream this time. Its Al Ice!

Al Ice is an almond milk based frozen dessert that was founded by three millennial entrepreneurs: Buster Milani, Marion Noovao-McCamish, and Matt Billington. Since launching the product in 2015 the group of students, who call themselves Olelei, new flavors such as chocolate, vanilla, and berry have been added. The product sells in local food stores and they produce 150-200 units per month but they have plans to expand to meet demand. 

The idea was launched when CEO Matt Billington noticed many milk and soy based ice cream-like products on the market but no products with almond milk. With so many dairy and soy allergies popping up these days this product fits right in with the needs of the market. The success of Al Ice has garnered several awards in addition to their sales. Al Ice took third place in the 2015 Young Enterprise Awards and second place in the 2016 Young Enterprise Awards as well as the group Olelei receiving the Pacific Peoples Excellence in Business Award. 

With the market demand for sweet treats and allergen conscious alternatives, Al Ice could have a promising future and that is only helped by the youthful vision and determination of its founders.

By Daniel Hagan, 2018

Simply Sold and Moving On

When people think of multi- millionaire estate tycoons, most don’t picture a 19 year old. However,  most people aren’t Akshay Ruparelia. This young man has redefined the housing industry, owning the 14th largest estate industry in the UK. His company, Doorsteps.co.uk, makes selling your house easier than selling your car. Furthermore, they take away the steep prices of real-estate agents and help you sell your house from the comfort of your own home.

Ruparelia is the son of two deaf parents and currently is their main caregiver. When he was young, he saw first-hand many business practices that he deemed unfair. He especially saw this in the housing industry. Shocked by the high commissions estate agents charged for such a menial task, Ruparelia decided to do something about it. In December of 2016, he launched his online website Doorsteps.co.uk. This site created a network of quality estate agents that could guide customers through the process of selling their house without the steep prices of normal agents. It cuts away the massive overhead pricings, and allows the buyers to be more involved in the process.

Ruparelia found the niche in the stagnant industry by changing the way his company approaches customer service. “Why, oh why, do we give away £20,000 worth of bricks and mortar in our properties to estate agents? For doing what exactly? Putting the house on the internet?” he asked. Instead, he envisioned estate agencies that put their customers first and charged dues that reflected that mindset. Thus, he charges an upfront price and doesn’t get any commission on the actual sale of the house. Ruparelia leads the charge of agents, selling his first house in the middle of his exams, and ensures that customers receive the service he envisioned.

This site is simple to use, and allows people to sell their houses without ever needing to leave their couches. People simply fill out an online survey or call the 24 hour customer service hotline, and they are connected with an experienced, self-employed estate agent. The agent speaks with them and helps them determine the best package that fits their needs. After the package is approved and  the listing is official, the agent posts the sale on different online sites. People sit back and watch their dedicated agent sell their house, all for less than one hundred pounds. ‘

As the teenager continues to take the industry by storm, he doesn’t forget his goals of a customer centered company. It seems this mindset is paying off, as his company is ranked in the top five for customer service. The press has described his company as the “Uber of the property world.” In an extremely competitive market, Ruparelia’s company has already taken 0.5% of the UK market and is valued at over 12 million pounds. With all of this success, Ruparelia shows no signs of slowing down as he continues to pursue simple selling so his customers can move on.