by Lisa Camerlengo
On any given Saturday afternoon, you can flip on the TV and
find an infomercial for a product that might strike you as a
bit unconventional. We've all seen them - vegetable choppers
that transform cucumber slices into fabulous shapes;
exercise machines that guarantee to turn your spare tire
into a six-pack; even spray-on hair to cover that bald spot!
"Interesting," you say to yourself, sulking as you change
the channel. "Why can't I think of a business idea like
that?"
But you can.
Thriving enterprises such as Netflix, Cold Stone Creamery,
LoveSac, and Geeks On Call all began simply as 'quirky'
ideas. Company founders, armed with the passion to succeed,
drew largely upon their educational backgrounds and previous
business experience to turn their ideas into realities.
Back in 1997, when founder Reed Hastings established online
DVD rental service Netflix, the thought of accessing
unlimited entertainment without ever having to leave the
house may have seemed like it was plucked from an episode of
the "The Jetsons."
Hastings came up with the concept after a vexing trip to his
local video store. Like many of us, he forgot to return a
movie on time, and was informed he owed a $40 late fee.
Hastings begrudgingly thought to himself, "There's got to be
a better way."
Los Gatos, Calif.-based Netflix, which offers access to more
than 40,000 movie titles for a flat monthly fee, is now a
household name, with more than 3,000,000 subscribers.
In addition to movies, Hastings is passionate about
education. A champion of the cause for charter schools in
California, his own love of learning led to a master's
degree in computer science from Stanford University.
So, even though it sounds like a clich鬠when you think about
starting a business, focus on what you love because a
passion for your product is paramount.
Just ask the folks at Cold Stone Creamery.
What began as ice cream enthusiasts Donald and Susan
Sutherland's quest for the perfect frozen dessert, has
exploded into one of the top franchises in the U.S. Cold
Stone, which recorded $283 million in sales in 2004, just
celebrated the opening of its 1,000th location in Columbus,
Ohio, this past May.
What's all the excitement about? The ice cream, of course.
Cold Stone boasts 35 original flavors, including top-seller
Peanut Butter Cup Perfection. The company is also set to
develop and launch 15 more yummy creations this year.
Kevin Donnellan, a Cold Stone representative, attributes the
success of the business to the passion its franchisees have
for the product.
"The more passionate you are, the more successful you're
going to be," Donnellan explains. " Ice cream is a fun
business to be in because it's not hard to love ice cream.
Vacuums, now they're a little bit harder to get excited
about."
To build on that momentum and provide a solid foundation for
its franchisees, Cold Stone sends them to Ice Cream
University - a training facility located at its headquarters
in Scottsdale, Ariz. In two weeks, ice cream aficionado
entrepreneurs learn not only how to masterfully decorate an
ice cream cake, but also the basic business skills necessary
to increase profit margins.
But, statistically speaking, it's often difficult to assess
just how often budding entrepreneurs find the recipe for
success The U.S. Government doesn't have a 'quirky' industry
classification category.
Brian Headd, an economist in the Office of Advocacy for the
U.S. Small Business Administration (SBA), says the best
indicators for a company's survival include the business
owner's level of education, age, and previous experience.
According to the SBA, roughly 12% of companies enter the
market each year - a rate that has remained fairly constant
over much of the past two decades. Of those new businesses,
about half generally survive for four years or more.
Headd emphasizes that the most important factor in
succeeding is experience, particularly with a previous
entrepreneurial endeavor.
"That's the educational process," he explains. "Although,
it's a lot less formal."
With that in mind, Shawn Nelson, the inventor of LoveSac,
could certainly be considered an anomaly.
As a college-coed back in 1995, Nelson "thought it would be
cool to have a huge beanbag." So, he went out, bought 14
yards of fabric, cut it into a baseball shape and started
stuffing it with foam. In 2002, Nelson turned his dorm room
idea into a franchise, which now boasts 67 locations in the
U.S. and Australia.
For Nelson, who holds two bachelor's degrees from the
University of Utah - one in Chinese and one in Asian Studies
with an emphasis on business - education played a major role
in success.
Take his fluency in Mandarin Chinese, for instance. When the
then 24 year old went to place an order for the fabric to
produce 12,000 LoveSacs for girls' clothing retailer Limited
Too in 2001, he discovered that the price the vendor was
charging was way over his budget.
But some Chinese writing on the side of one of the vendor's
boxes indicated where he could contact the producer of the
fabric directly. He hopped on a plane to China, and got the
fabric at a price he could afford. The rest, as they say, is
history.
Nelson, a lifelong learner, encourages his employees to
broaden their horizons. He and his staff choose a book to
read every other month and challenge themselves with quizzes
in company meetings. He is currently pursuing design school
- all this while serving as Richard Branson's "Rebel
Billionaire." (> I don't get that reference? A reality
show???) (Just wanted to emphasize that he continues to
challenge himself).
"If it feels good - feels good in your gut - just do what it
takes. Do anything to make it work," Nelson says.
And if that means emblazoning the side of a Chrysler PT
Cruiser with a depiction of a computer geek on its side, so
be it.
That from Richard Cole, founder and CEO of Geeks On Call,
who is counting on the symbol to become a household staple.
Cole, an experienced turnaround specialist who grew
frustrated with his PC's antics, was tired of long wait
times on telephone help lines and the mediocre service they
provided. He began to wonder if someone could really fix his
computer's problem from 3,000 miles away and thought it
would be convenient to have computer support on-call.
Hampton Roads, Va.-based Geeks On Call dispatches those "PC
Cruisers" to computer users in need of technical support,
and has developed into a thriving franchise. The company has
serviced more than 250,000 customers across the U.S. since
2001 - on average, about 10,000 per month.
Key to the operation's success is the training of the
company's technicians. All Geeks On Call employees are
required to have A+ certification. They must also pass the
"Geek Test" - a measure of both 'book smarts' and 'street
smarts.'
"Education is huge for us, explains Matt Nelson, the
company's communications manager. "If we didn't insist on
minimums, we might have technicians who are sub-par and
could mess up people's computers."
And, although Geeks On Call continues to expand, there were
plenty of naysayers around when Cole first unveiled his
idea.
"There will always be 'turkeys' to get you down," Cole says.
"They'll say you'll never pull it off, but that just makes
you work even harder to prove them wrong."
So, look around you. Great business ideas are out there.
With ambition, passion for your product or service, a good
education, and perseverance, all things are possible.
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