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Young millionaires: Jake Nickell and Jacob Dehart

More video: http://www.msnbc.msn.com/id/21134540/vp/28558746#28558746

Threadless is a community-centered online apparel store run by skinnyCorp of Chicago, Illinois, since 2000. Co-founders Jake Nickell and Jacob DeHart started the company with $1,000 in seed money after entering an internet t-shirt design contest.

Members of the Threadless community submit t-shirt designs online; the designs are then put to a public vote. A small percentage of submitted designs are selected for printing and sold through an online store. Creators of the winning designs receive a prize of cash and store credit.

Operation

Designers upload their t-shirt designs to the website, where visitors and members of the community score them on a scale of 0 to 5. On average, around 700 designs compete in any given week. Each week, the staff selects about ten designs.Each designer selected receives $2,000 in cash, as well as an additional $500 for every reprint.

On occasion, special contests—known as “Loves Threadless”—run in association with various sponsors. These contests set a theme for designs, with a selection of additional prizes being awarded to the chosen winner; special prizes often relate to the sponsor. The success of this concept led to several spin-off projects by the same company, including ongoing design competitions for t-shirt slogans at OMG Clothing and neckties and wallpaper at Naked and Angry. The competition from OMG Clothing was later integrated into the main website with the introduction of Threadless TypeTees. Multiple other companies have adopted the community model created at Threadless. Nevertheless, in mid-2006, Threadless expanded in a more traditional direction, adding shirts designed by selected artists. These designs, known as Threadless Select designs, are not subject to the voting process.

In the open source community, a Threadless t-shirt or design is considered to be crowd sourced because the designer and the company retain all rights to the design. As the “source” of a design—i.e., its vector graphics file—is not available for download, it cannot be considered “open source”.

Threadless shirts are run in limited batches. When shirts are sold out, customers can request a reprint. However, reprinting occurs only when there is enough demand, and the decision to reprint is ultimately up to company. New shirts are released on Mondays

website: http://threadless.com/

source: wikipedia.com

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August 23, 2008 Posted by | Business, Entrepreneur, invention, Life, Million dollars Idea, Millionaire, Uncategorized, Youtube | , , , | 1 Comment

Work Ethics: Sean Combs

August 11, 2008 Posted by | Business, Entrepreneur, invention, Life, Million dollars Idea, Millionaire, News, Television, Uncategorized, Youtube | , , , | Leave a comment

young millionaire: Jordan Wirsz

August 8, 2008 Posted by | Business, Entrepreneur, Million dollars Idea, Millionaire, Television, Uncategorized, Youtube | | Leave a comment

business idea: Knork

August 7, 2008 Posted by | Business, Entrepreneur, invention, Life, Million dollars Idea, Millionaire, Television, Uncategorized, Youtube | Leave a comment

Business idea: Wurkin Stiffs

CONCEPTION OF THE MAGNETIC COLLAR STAY
AS TOLD BY JONATHAN BOOS

Three years ago, I was getting dressed to take my wife out for dinner and have drinks with our friends in downtown Sarasota. My wife had bought me an expensive shirt the prior week, in which I was putting on to wear for that evening. Looking in the mirror, I could not believe the shirt’s collar. It would flare out and not stay in any position I would put it in. I looked like the flying nun! After continual complaining about the way the shirt collar looked and time running out. . .

I had an idea.

I immediately configured a make-shift magnetic collar stay. Yes, it was primitive. However, the basic idea was there and more importantly it worked. The collar adjusted exactly to the way I wanted the collar to look. Throughout the evening I must have asked my wife, “How does my collar look?” a hundred times. Each time she would say, “It looks the same”. Three hours, two Long Island Iced Teas and a Vodka Cranberry later. . . I must say I might not have looked so good, but my collar was perfect!

When I got out of bed the next day, I drove to my twin brother’s hair salon. I figured he is sort of in the fashion industry and he appears to dress very well for a straight guy. Joshua seemed very impressed with the idea, helped me do research and then we built the first real prototype.

Working as a hairstylist for thirteen years and struggling with out-of-control collars on a daily basis, Joshua became the first guinea pig to try the magnetic collar stay. Long story short, Joshua and I both knew a start of something special was conceived, when after wearing the magnetic collar stays for an entire workday, Josh stated: “Finally, I was able to concentrate on the job at hand, without having to mess with my collar every five minutes!”

We both agreed that it would be a huge undertaking for just one of us to make every man’s shirt collar to look perfect! So we decided to join together; to create Würkin Stiffs, Inc. to conquer evil collars everywhere!

source: http://www.wurkinstiffs.com/resume.aspx

August 6, 2008 Posted by | Business, Entrepreneur, invention, Million dollars Idea, Millionaire, Television, Uncategorized, Youtube | , , , | Leave a comment

business idea: Red Mango

Red Mango is a frozen yogurt chain founded in South Korea in 2002 that has gained popularity in the United States. The company is known for using natural ingredients in making “authentic frozen yogurt” that is both tart and creamy. Red Mango frozen yogurt is also considered to be healthy — the company announced in 2007 that it became the first retailer of natural frozen yogurt to receive the National Yogurt Association’s Live and Active Culture Seal, a certification given to yogurt manufacturers whose products have live and active culture counts in amounts that researchers have determined to have positive health benefits.

August 5, 2008 Posted by | Business, Entrepreneur, invention, Million dollars Idea, Millionaire, News, Television, Uncategorized, Youtube | , | Leave a comment

Big Mac – Inside the McDonald’s Empire

chapter 3: http://www.youtube.com/watch?v=lZi0StVzsKU&feature=related

chapter 4: http://www.youtube.com/watch?v=TAwKiGRsZf0&feature=related

chapter 5: http://www.youtube.com/watch?v=f9bdOsiQuNM&feature=related

August 4, 2008 Posted by | Business, Entrepreneur, Million dollars Idea, Millionaire, News, Television, Youtube | , , , , | Leave a comment

Young millionaire: Ryan Allis

August 2, 2008 Posted by | Business, Entrepreneur, Life, Million dollars Idea, Millionaire, Television, Youtube | | 1 Comment

Business idea: Build-A-Bear

Maxine Clark talks about what compelled her to leave a well-paid job at 47 and start her own business—and what motivates her today.

The Entrepreneur: Maxine Clark, 57

Background: Clark left a successful corporate career to start her own business, Build-A-Bear Workshop then a relatively new concept in retail entertainment.

The Company: Since launching its first workshop in St. Louis in 1997, the business has expanded to 300 shops across Asia, Canada, Europe, and the U.S., with sales of $437 million. In June, Build-A-Bear Workshop helped launch Ridemakerz(BusinessWeek.com, 7/19/07) a build-your-own model toy car retailer—in which it has a major investment stake.

Her Story: I left Corporate America on a mission to bring the fun back to retailing and to give back to the industry that had been so good to me. I was 47 years old when I left Payless ShoeSource (PSS) in 1996. At that time, my financial rewards in retailing were very high, but my psychic income account was nearly empty.

When I graduated from the University of Georgia in 1971, I thought I wanted to be a lawyer. I needed to go to work to earn the money for law school, but I never considered it seriously once I got my feet wet in retailing.

I started out as a retail trainee with May Department Stores in Washington, D.C. Over time, I worked my way up, taking on various roles in management. During my 19 years there I was involved in everything from planning and research to marketing and product development. In 1992, I became president of Payless.

Bored by Shopping

While I didn’t make much money starting out, by the time I rose through the executive ranks I was earning a substantial salary, complete with stock options and a generous bonus and retirement plan. But I later realized that money alone didn’t translate into personal satisfaction if you aren’t doing what you are passionate about. I didn’t necessarily have an “aha!” moment; the pieces just started to fit together for a change. I knew I wanted to get back in touch with the customer and be creating a new business idea, even though I didn’t know what that was at the time.

Quite frankly, I was bored by shopping and decided to put my money where my mouth was. I was looking to re-create the excitement and magic I felt as a child when I visited certain stores. Going shopping was an event. You became part of the store, and it was special. The truth is, what it takes to engage and retain retail customers today is really not much different than it was in the past. Build-A-Bear Workshop is about what I call “good old-fashioned, it’s-about-the-customer retailing.”

When I left Payless ShoeSource, I could have left retailing or even retired. Fortunately I had enough money to do anything I wanted, even if pay or responsibilities were not comparable. I had the luxury to learn something totally new or go off to a tropical island somewhere. Anyone who knows me, though, would laugh at the island idea.

Creative Retailing for Children

I wanted to apply my experience to something that was unique and different. I wanted to take the concept of children’s retailing a step beyond where it was and turn it into experience retailing; something that would allow me to use my creative talents and encourage the same kind of creative thinking in children. I wanted to create a business that could achieve financial success by connecting with guests and putting the fun back into retailing.

I like to say the lightbulb went off for Build-A-Bear Workshop one day in the summer of 1996. I was out shopping with my friend Katie, who was 10 years old at the time. We were on a mission to find Beanie Babies, but the store that had promised a new shipment had none left.

source: http://www.businessweek.com/smallbiz/content/sep2007/sb20070912_785676_page_2.htm

August 2, 2008 Posted by | Business, Entrepreneur, invention, Life, Million dollars Idea, Millionaire, Uncategorized | | Leave a comment