Startup co-founder Jim Sinegal is no stranger to starting a business. In 1983, he started Costco, a discount warehouse store that is now the 5th largest retailer in the United States and the 11th largest in the world. The business has annual sales of $1 billion and each Costco location averages more than $130 billion.
The tale of entrepreneur Nicholas Pelis demonstrates the importance of commitment when starting a new company. Finding the needed funding usually works out as long at the founder remains driven. For Pelis, no sacrifice was too large to achieve business success.
Sometimes a business is started simply because the founding entrepreneurs crave the independence and enjoy the work. Financial success, however, takes a circuitous route because an operation may change into a new company as events unfold. This is the experience of Ryan Marquis and Mark Stubbs.
Some of the best ideas for starting a business involve simple products. They don’t require much money or a lot of time to explain what the company is selling.
If you live in a small town or rural area, you know that sometimes the business environment works differently than in the big cities. Handshakes may still be enough to seal a deal and with big box stores more than a 5 minute drive, the local competition may not be as fierce. For a small […]
Starting a company with a new product invention provides both excitement and challenges for an entrepreneur. Bob Steffen is certainly aware of this. He has started several businesses, but his most recent venture presented the greatest difficulty.
The great thing about basic well-established technology is that entrepreneurs can easily adapt it to new purposes. Find a situation that cries out for a better process and someone will deploy existing technology for a solution. That’s what happened to Brad Weisberg after he found a dent in his car.
You and a friend or family member have plans to turn that idea in to a small business. It’s a common occurrence in the business world but before you set out to be successful entrepreneurs, there are some legal and organizational matters to attend to first. Although you hope that the partnership never dissolves, you […]