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Young entrepreneur: Evelyn Espinoza

Evelyn Espinoza Wins Youth Business Plan Competition

From news article, Los Angeles Times :

Evelyn EspinozaPhoto: Evelyn Espinoza, 17, reacts as she is named winner of Merrill Lynch/NFTE Greater Los Angeles Regional Youth Business Plan Competition, by Garrett Gin, right, Director Communications and Public Affairs, Merrill Lynch & Co.

When she was 8 years old, Evelyn Espinoza sold bubble gum and other candy door-to-door in her Los Angeles neighborhood to earn money.

By sixth grade, her mom was buying the enterprising 12-year-old toys at a wholesale mart to resell at school.

Now 17, Espinoza is still hard at work. Her latest business venture, Hippie’s Candles, was named the winner last week of the Los Angeles regional business-plan competition, and a $1,750 prize, at the event sponsored by the National Foundation for Teaching Entrepreneurship and the Merrill Lynch Foundation.

“Entrepreneurship is excellent,” said Espinoza, who is in the NFTE entrepreneur-training class at Soledad Enrichment Action Girls Academy, a charter school in downtown Los Angeles.

“Money rules the society,” she said. “Everyone wants money, and it’s only right to learn how to make it in a legit way and to be your own boss.”

Link: http://talentdevelop.com/teenyatalent/evelyn-espinoza-wins-youth-business-plan-competition/

January 24, 2009 Posted by | Business, Entrepreneur, Television, Uncategorized, Youtube | , , , | Leave a comment

Business Idea: Bear Naked Granola

  
 
Kelly Flatley, 28, and Brendan Synnott, 29
Bear Naked, Norwalk, Connecticut
Projected 2007 Sales: $50 million
Description: Manufacturer of all-natural granola productsIt’s All Natural: Childhood friends Kelly Flatley and Brendan Synnott were in between jobs in 2002 when Flatley, ever the health nut, began making all-natural granola in her kitchen and enlisted Synnott to help. “The whole food chain [has become] so processed and filled with artificial ingredients,” says Synnott. “[To both of us], it just didn’t make sense why you would want to put that in your body, if you are what you eat.” Flatley and Synnott each invested $3,500 and moved back in with their parents as they began selling hand-wrapped bags of granola at street fairs.

Healthy Returns: Repeatedly pitching Bear Naked products to local grocer Stew Leonard’s yielded no response. Finally, Flatley and Synnott upped the ante: At 7 o’clock one morning, they showed up in matching outfits, armed with granola, yogurt, milk and fruit “[to] bring the buyer breakfast in bed,” explains Synnott, “which was so cheesy, but it worked.” In fact, when their target buyer wasn’t there, they spotted Stew Leonard Jr. walking by. “He [said,] ‘Come on in.'” Today, Bear Naked is also sold at Costco, Kroger, Safeway, Target and Whole Foods, and four of its products are sold in Canada.

 

 

 

Food for Thought: Scaling their company upward was challenging. “It was often difficult to maintain the balance between the amount of product our sales team could sell and the amount of product our manufacturing team could produce,” says Flatley.

Not wanting to give up their control to investors, they built from within. Says Synnott, “It forced us to ensure that every decision we made yielded value and success for us, even if it was the harder decision.”

Follow Their Lead: Do something creative–but still in line with your product philosophy–to distinguish yourself to buyers. –Nichole L. Torres

UPDATE: receipe for success:- Bear naked

Part 1: http://www.youtube.com/watch?v=oqskUD8BrPY&NR=1

( Double click on the website address if it’s says no longer available)

Part 2: http://www.youtube.com/watch?v=krbSnSsv5Yg&feature=related

Part 3: http://www.youtube.com/watch?v=MUUhGHQ0bhQ&feature=related

Part 4: http://www.youtube.com/watch?v=3o4hwUCen7k&feature=related

June 3, 2008 Posted by | Business, Entrepreneur, Life, Million dollars Idea, Millionaire, Television, Uncategorized, Youtube | , , , , , | 2 Comments

Business idea: Jibbitz

Video: http://www.msnbc.msn.com/id/26526805#24291692

It started when sheri and her children were having fun with arts and crafts at home, she stuck a silk flower through a hole in a pair of crocs. She thought it looked cute and then found other things. When Sheri’s husband came home and saw his family accessorizing their shoes, a light bulb went over his head. Sheri and her husband ran with the idea and realized there were alot of cros roaming the streets with no accessories. They bought other objects such as hearts and happy face at craft stores and glued them onto cufflink. Then struck the cufflink into their children’s crocs and send them to school. Soon, orders for jibbitz followed and their business quickly took over the family’s basement. Sheri launched a website, and after just two weeks,she was swamped with requests for jibbitz. Retailers caught on and began ordering hundreds at a time. WIthin twelve months, Jibbitz were sold to more than 3,000 stores. They later sold their business to the founder of crocs for $10 million with an extra $10 million if they meet sales goals. Their business is still booming and they plan on launching line of wristband, hats, belts and purses in the future.

more about Jibbitz: http://www.readersdigest.com.au/life/the-accidental-entrepreneur/article91637.html

website: http://www1.jibbitz.com/store/

May 13, 2008 Posted by | Business, Life, Million dollars Idea, Millionaire, Television, Uncategorized, Youtube | , , , | Leave a comment