IdeaPaint is a dry erase paint that allows the user to turn any flat surface into a dry erase board. The idea was conceived when a group of freshmen at Babson College in Boston had a brainstorming session. They decided to cover the walls of the room in paper so they could more easily write out their ideas so everyone could see it. As they kept tearing down paper when it got full, they suggested that a white board paint would be more efficient. John Goscha and his classmates set out to find a white board paint, and when none were in production, they decided to try and develop their idea. They were granted seed money from Babson and went to the lab to try and produce the paint. After a year, they decided the idea was impossible and John’s two classmates quit the business and did their own thing. John stuck with the idea and went to a new lab where he invited two of his former classmates Morgan Newman, and Jeff Avallon to join the team. The product was developed during the second round of their research and became a big hit at a Chicago trade show. IdeaPaint raised around $5 million in capital and was soon on the market for sale. The paint is now available in various home improvement stores. White board paint is a great idea however, it is pretty expensive if one were to buy it for personal use ($225 50 SQ FT, or the Idea Pro @ $199.50 SQ FT.). I think John had a lot of determination for not giving up on his idea even though his team quit and it did not seem possible through the first round of lab work. There is a time to cut your losses and there are times when you should persevere. John made a good decision and I’m curios to see if he can keep making good decisions to expand and maintain his company.