Tag Archives: Richard Branson

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Diane von Furstenberg

Diane von Furstenberg Diane von Furstenberg Studio for staging an elegant comeback Diane von Furstenberg faced a bitter quandary when she returned to the American fashion scene in 1990: Her signature product, the wrap dress, hung in the Smithsonian, yet no stores would carry it. “My brand meant nothing,” she says. “I had become a has-been.” The Belgian-born von Furstenberg had made her mark on the New York fashion world in 1972 with her versatile dress, which was appropriate for the office yet sexy enough for a night at Studio 54. During the next few years, she sold five million of them. Then the market became saturated, sales dried up, and she sold most of her licenses to avoid bankruptcy. “I lost control,” she says. She retreated to Europe. In 1992, the designer embarked on a comeback. She started Silk Assets, one of the first clothing lines for QVC. “It was tacky, but it gave me confidence,” she says. Then she founded Diane von Furstenberg Studio to design moderately priced apparel sold at upscale department stores. The latest wrap dress, for example, retails for $298. The line has been a hit with consumers and critics alike, and the business turned its first profit in 2003. For von Furstenberg, 58, whose fall 2005 collection features a Russian theme, success has been sweeter this time. “I was on the cover of Newsweek at age 29,” she says. “To do it again now, that’s even better.” Nadine Heintz Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Mitchell Gold Bob Williams

Mitchell Gold & Bob Williams Mitchell Gold for creating a true comfort zone Comfort is the watchword at Mitchell Gold’s eponymous furniture business, which he (below, right) and Bob Williams (below, left) founded in the small manufacturing town of Taylorsville, N.C., in 1989. For them, comfort involves more than down feathers and velvet slipcovers, however. Gold and Williams have created a furniture plant that employees enjoy working in, an unusual notion in a county where, as recently as the 1980s, air-conditioned factories were rare. Mitchell Gold’s plant, in contrast, boasts an indoor walking track, a gourmet cafeteria, and on-site daycare facilities (in addition to AC). Shirley Roberts, an employee since 1991 who now oversees 127 workers in the cloth sewing room, says, “Mitchell does a lot to make our lives better.” Workers at neighboring businesses have benefited too. “Mitchell and Bob are always willing to give their employees benefits that nobody else has,” notes Cass Ballenger, a retired Republican congressman who owns a business in nearby Hickory, N.C. “In order to compete, other companies have begun to follow suit.” Of course, it takes more than happy employees to run a thriving operation at a time when many factories are slashing hours or shutting down completely. Gold expects to generate $100 million in sales in 2005. The business has posted average annual revenue increases of about 20% since 2000, compared with 3% in the overall furniture industry during the same period. Contemporary designs and the use of unusual upholstery fabrics have propelled the business. “When we started out, we noticed that a lot of people were wearing prewashed jeans,” Williams recalls. “So we started applying that philosophy to our upholstery: We look at what fabric people are wearing and put it on furniture.” Another key to success is working well with retailers such as Crate & Barrel, Restoration Hardware, and Pottery Barn. The trick, says Williams, is creating product lines that remain true to the Mitchell Gold philosophy while catering to each store’s style. Restoration Hardware, for instance, prefers the dramatic club chair look, while Pottery Barn likes casual couches. “Most of the time, I just come up with ideas, then figure out which customer would groove on that idea the most,” Williams says. Meanwhile, back in Taylorsville, Gold and Williams are quietly changing one other aspect of local business. When they founded Mitchell Gold there 16 years ago, they stood out among local business owners because they are partners in life as well as in business. Once, a worker made a homophobic comment on the factory floor, but he was shushed by a well-respected older woman who worked as a plant inspector. “When Bob and I first founded the business here, we were a little naive,” Gold asserts. “But there’s been a lot of learning at this factory, and I think people respect us. People respect us because we respect them.” Nadine Heintz Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Tom LaTour

Tom LaTour Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Tom LaTour’s motto might as well be In vino veritas. Once a year, the chairman and CEO of Kimpton Hotels and Restaurants, which owns 38 properties in 16 cities, personally conducts one of the daily wine tastings in each of his hotels. While he plies guests with Chardonnay, he asks them where else they travel regularly. “It’s a great way to find out where we might want to open up a new property,” he says. Kimpton is opening a lot of new properties these days. “It is an exceptional company,” says Thomas Callahan, co-CEO of PKF Consulting, a lodging industry research firm. “They are extremely creative and have now gone from a regional boutique hotel chain to a national presence. Tom deserves all the credit for that.” LaTour’s reconnaissance goes beyond pouring wine for weary business travelers. The 61-year-old hotelier often leaves behind Kimpton’s creature comforts (where rooms feature luxuries like Missoni bed throws and 42-inch flat screen TVs) to stay at fleabag joints. It’s all in an effort to identify properties for acquisition. That’s because Kimpton doesn’t build hotels from the ground up but instead renovates old hotels that have fallen on hard times or reimagines historically significant buildings, such as the circa 1795 Tariff Building in Washington, D.C., which Kimpton transformed into the Hotel Monaco. To make sure an acquisition won’t prove to be a money pit, LaTour spends the night to experience firsthand the plumbing, heating, and electrical systems. Sometimes the due diligence can be daunting. In what is now the Chicago Monaco, for example, LaTour spent the night battling pests. “You couldn’t take your shoes off,” he recalls. Before each new hotel opens to the public, LaTour returns to spend a week in the rooms, troubleshooting details down to how well the stopper in the bathroom sink works. “My pet peeve,” he admits, adding: “The culture of an enterprise is a reflection of the people at the top.” Though his values are clearly reflected throughout the Kimpton empire, LaTour did not start the company. It was founded in 1981 by Bill Kimpton, a San Francisco investment banker. LaTour, a veteran of big travel companies, joined two years later, to add operational expertise. When Kimpton died in 2001, LaTour assumed the titles of chairman and CEO. It was a trying time. Travel industry receipts plummeted in the wake of the dot-com bust and 9/11. Revenue at Kimpton’s hotels in San Francisco, which accounted for a third of the chain’s overall business, tumbled by 30%, leaving the company painfully exposed. LaTour sold four properties and has since made geographic diversification a priority, expanding from Miami to San Diego, with more to come. “There are 30-odd cities on USA Today’s weather map for a reason,” says LaTour. “Those are where the business travelers are. I want a Kimpton hotel in each one.” As the business grows, some admirers worry that Kimpton will lose sight of the details. But LaTour vows to hold the line on quality. One gets the sense that he has stayed in too many rooms where the sink stoppers didn’t work well to let the matter drop entirely. Amy Gunderson Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Tony Lee

Tony Lee Ring Masters for saving 16 jobs, including his own Stark County, Ohio, lives up to its name, particularly in a town called Massillon; once a busy industrial hub, it’s now pockmarked with empty factories and unmowed lawns. But there are signs of hope: a renovated 17,000-seat stadium for the high school football team, 22-time state champs, and a 180,000-square-foot factory that’s still in business, thanks to a 36-year-old former janitor named Tony Lee. Lee joined the Army straight out of high school and served in the Gulf War. He dreamed of owning a business. When he returned to Ohio, though, he and his girlfriend had a baby, and he needed a paycheck. He worked at a steel manufacturer, and then cleaned a meat plant until he heard, in 1993, that a factory in Massillon was hiring. For $10 an hour, Lee cleaned bathrooms, swept floors, and waited for a job on the line to open up. Since he couldn’t afford college, he spent nights at the library, studying accounting and reading biographies of Warren Buffett, Jack Welch, and Russell Simmons. A year later, his bid to run a machine in the ring division went through. He learned how to operate all the machines, asked his supervisor about handling customer complaints and buying raw materials, and studied the way machines were scheduled. In 1997, he was bumped up to supervisor. Then a New York City private equity firm bought the factory. Just before Christmas 2002, the new owners announced that the factory would close. “At first, I didn’t believe it because the closing was rumored for years,” says John Rohr, 57, who has worked at the plant since his first week out of high school. “But I was very concerned, with my age. The industry base in Stark County is bad.” When the fastener and clamp units were shut down and the equipment was removed on flatbed trucks, Lee began assembling a buyout proposal for the ring division. As news of Lee’s plan spread, his co-workers looked at this high school grad, who wiped the oil from his hands with the same red rags as the rest of them, and figured the New York guys would never pay attention to him. But Lee called the mayor, a law professor, and a local economic development nonprofit; with their help, he wrote a business plan, researched competitors, and arranged to meet local investors. “Tony knew the product, knew the customer, and had a tremendous amount of loyalty from the employees,” says Randall Hunt, an attorney who agreed to back him. “I was impressed.” Lee sold his beloved Yamaha motorcycle and took a second mortgage on his house to raise $50,000 for a 12% stake. Last August, with a $75,000 low-interest loan and a 10-year tax abatement from the town, Lee, Hunt, and five other investors offered to buy the ring division for just over $1 million. Two months later, the New York firm sold the plant to Lee’s group, which named the new company Ring Masters. Lee cut pay by 5% and asked employees to handle extra tasks. They also disbanded their union, perhaps in part because he continued to work alongside them on the floor. Every day, the smell of steel and oil fills the building and the machines burp out 200,000 steel rings. Wearing earplugs, safety glasses, and an improbably spotless white polo shirt, Lee steps between rolls of wire, fiddles with machines, then heads to his office to handle a client call. Sales are up 13% from 2003, to $3 million; Lee wants to double revenue within five years. Ring Masters’ head count is up from 16 to 22. The factory may be surrounded by puddles and gravel, but it surely ranks as one of the brightest spots in Stark County. Stephanie Clifford Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Katrina Markoff

Katrina Markoff Vosges Haut for setting a completely unreasonable goal for her business “Bringing peace to the world through chocolate is a pretty big mantra,” admits Katrina Markoff, the founder of Vosges Haut-Chocolat, a Chicago business with $4.5 million in annual sales. “But it can do that by introducing different cultures and points of view.” To that end, the typical box of Vosges truffles mixes exotic flavors from all over the globe, including Japanese wasabi, Italian taleggio cheese, and Mexican ancho chili. In Markoff’s mind, you can’t help but think about tribal lands in northeast India as you savor her curry-coconut Naga truffle. Markoff, 32, developed her “We are the World” philosophy of chocolate while studying classical cooking at the Cordon Bleu in France and later, when she apprenticed under Spanish chef Ferran Adria, who is celebrated for taking culinary risks. She then spent nine months traveling the world and tasting all manner of foods, from worms to kaffir limes to white poppy seed. Returning to the U.S., she took a job at her uncle’s home-furnishings catalog business to learn about vendor-buyer relationships, photo styling, and copywriting. She opened her first retail shop in Chicago in 1998 with a loan backed by the Small Business Administration, and started selling chocolates at specialty food stores and Neiman Marcus a year later. Today there are Vosges stores in New York City and Las Vegas (Japan is next) and 30 employees on the payroll. And Markoff still maintains that her chocolate can save the world. She credits her mother, who runs a hazardous waste removal company and who taught her to add receipts at an early age, for encouraging her to set audacious goals: “She always said, ‘You just have to do it. There are no limitations.” Stephanie Clifford Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Rueben Martinez

Rueben Martinez Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture Rueben Martinez is a genius, and he has the grant to prove it. Last year, he became the first bookseller to receive one of those $500,000 fellowships from the MacArthur Foundation that have come to be called “genius grants.” The selection committee lauded Martinez for “fusing the roles of marketplace and community center to inspire appreciation of literature and preserve Latino literary heritage.” All of that is certainly true, but that’s not why we love Martinez. We love him because he exhibits the improvisational flair and versatility that is innate to master entrepreneurs. Martinez’s business, Libreria Martinez Books and Art Galleries, began its life as a small shelf in a barber shop in Santa Ana, Calif. For years, Martinez, a barber and the son of Mexican copper miners, lent copies of books like Juan Rulfo’s El Llano en llamas to his customers. Eventually, he started selling books by Latino writers. By 1993, the book business had so outgrown its shelf that Martinez decided to put down his shears and turn the shop into a bookstore. He began hosting readings and community events, and Libreria Martinez was soon thronged with people. Martinez was fast becoming a leading advocate of literacy and cultural education in the Latino community. From 1997 until 2001, he partnered with actor Edward James Olmos to establish the Latino Book and Family Festival. It has since become the country’s largest Spanish-language book exposition, now held regularly in four states. (You’ve got to love a guy who teams up with Lt. Martin Castillo of Miami Vice.) Martinez, who left the festival to focus on his business, has three stores in California now, including one that focuses on children’s books. Combined, they generate nearly $1 million in annual sales. He would like to have as many as 25 locations by 2012. “The plan is that if a new store meets its goals, we’ll open another,” he says. And though business is booming, Martinez, who is now 65, still likes to make time to cut hair for some of his longtime customers. “If I cut one or two haircuts a month, I’m in heaven,” he says. Of course, while he trims away, he also recommends a couple of good reads. Jeffrey L. Seglin Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Fritz Maytag

Fritz Maytag Anchor Brewing for setting limits He invented what later became known as microbrewing. Without his Anchor Steam Beer and its brother brews, we beer lovers might have been consigned to choosing between Budweiser, Miller, and Coors. Instead we have a cornucopia of the finest brews available anywhere in the world, except maybe Belgium. And Fritz Maytag led the way. A young Stanford grad living in San Francisco in the mid-1960s, Maytag often enjoyed a glass of the 109-year-old local brew, Anchor Steam. One day he heard that the brewery was closing. He paid a visit, fell in love, and, in September 1965, bought a 51% stake in the business. Three years later, he bought the rest of the company. The whole shebang, he says, cost about as much as a used car. At the time, Maytag — an heir to the washing machine fortune — knew nothing about beer-making or business. “You know books like So You Want to Have a Puppy?” he says. “I bought So You Want to Learn Accounting.” Even to a novice, however, it was obvious that the company was sinking fast. Maytag soon learned why: Restaurant and bar owners complained that the beer frequently spoiled before they could sell it. So Maytag tinkered with the brewing process and the recipe, coming up with a new, improved Anchor Steam Beer that debuted in its bottled form in 1971. It was an instant success. Within four years, the brewery had maxed out its production capacity. Soon thereafter, Maytag was forced to ration the number of cases distributors could buy. He remembers the next few years as a nightmare. Customers were beating down his door, and there was simply no way he could satisfy the demand. He desperately looked for a new site, but he limited himself to locations in San Francisco out of respect for the historical connection between the city and the beer. Finally he found an old coffee roastery, where the brewery moved in 1979. Maytag vowed he would never go through rationing again. But the popularity of Anchor Brewing’s beers continued to grow. By the early 1990s, Maytag was facing the real possibility of another capacity shortage. He considered going public to raise capital, but rejected the idea because he didn’t want the kind of growth he would have to pursue if he took on investors. Size, he believed, was the enemy of quality. “This was not going to become a giant company — not on my watch,” he says. In the end, oddly enough, Maytag was saved by his competitors. Microbrewing was gaining popularity, and hundreds of small breweries were springing up around the country. Rather than resist them, Maytag helped fledgling rivals develop their brewing skills. They wound up growing fast enough that Anchor Brewing was able to avoid a second capacity crisis altogether. “It was a great relief,” says Maytag, now 67. “It’s not any fun when you can’t produce enough to satisfy people. What if you had a pizza store with 100 customers outside waiting in line, getting angry, fighting, threatening? In business school they say, ‘Raise your prices.’ Not in the real world. You get a backlash if you raise prices too much. You lose your validity. Luckily, we didn’t have to go through that again.” Rare is the entrepreneur who feels lucky that his competitors’ sales have diminished the demand for his product. But perhaps rarer still is the entrepreneur who can resist the pressures and temptations of growth and focus instead on creating what he really wants: a gem of a business. Bo Burlingham Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Mark Melton

Mark Melton Melton Franchise Systems for giving immigrants their shot at the American Dream Mark Melton has turned his master franchise from Coverall Cleaning Concepts into a tidy $9 million empire by supplying training, marketing, sales, and other services to his 250 franchise owners, many of them Hmong and Hispanic immigrants. Cleaning offices, says Melton, 46, “is not glamorous work. But it’s stable, year-round, and highly sought after, and no technology is going to make the industry obsolete. It really impacts owners’ lives.” What makes a Melton franchise an accessible route into the ownership society is the low barrier to entry. One midlevel package, available for an investment of $11,750, with $6,000 down, guarantees $2,000 in monthly income from clients provided by Melton. After insurance, finance costs, and a 15% royalty fee, franchisees can expect to pocket two-thirds of their billings. Some go-getters have boosted their monthly billings to $10,000. “I bought the $1,500 package with my income tax refund and started with three clients. Now I have 13,” says Francisco Reinoso. An X-ray technician in Guatemala, he’d had to settle for work as a janitor in Bakersfield. “At church, people look up to me and ask, ‘Francisco, can I have a job?’ Owning a business, that makes me feel like part of the United States.” Patrick J. Sauer Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Jack Mitchell

Jack Mitchell Mitchells/Richards because his family business makes an art of customer service Jack Mitchell starts his morning at 5 o’clock with a cup of coffee and the previous day’s sales report. The clothing retailer lives for data. His company’s custom-made software tracks what customers buy, as well as their golf handicaps, where they work, and whether they root for the Yankees or the Red Sox. “The technology,” he says, “has helped us grow the business by getting closer to the customer.” Providing stitch-perfect service is exactly what Mitchell’s dad, Ed, had in mind when he founded the business with his wife, Norma, back in 1958. He died last year, at 98, having passed ownership to his sons, Jack and Bill, in the early 1970s. They have since begun distributing stock to their seven children. Despite the changing of the guard — and the fact that annual sales have grown to $65 million — the company’s reputation for superior service remains unblemished. This hasn’t happened by luck. CEO Jack and vice chairman Bill decided that their offspring could not join the company until they’d worked outside for five years. To be sure everyone stays on message, the family meets once a week. As for Jack, 66, he’s preaching the Mitchells/Richards gospel to others via his book, Hug Your Customers (Hyperion, 2003) — and darting around the stores, taking care of customers. Donna Fenn Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture

About 2973 days ago E-Commerce

26 Most Fascinating Entrepreneurs: Craig Newmark

Craig Newmark Craigslist for putting the free in free markets At Craigslist, the network of Internet bulletin boards that Craig Newmark has set up in more than 100 cities on five continents, the only people really selling stuff are the ones who post (mostly) free ads. “I act as the glamorous spokesmodel,” Newmark says. The 52-year-old can joke, but his successful enterprise reflects something truly rare: It really helps people. In this age of test-marketing and spin, here is a business that does not treat the customer as a credulous cash dispenser. The result is what Douglas Atkin had in mind in The Culting of Brands when he wrote, “Cult brands are beliefs. They have morals — embody values. Cult brands stand up for things.” The best way to make a cult brand may well be to not try to. And so Newmark’s spartan webpages do not sing or sport banner ads. They simply work, and they are free. The only people required to pay are employers posting help-wanted ads for San Francisco, New York City, and Los Angeles. Despite the narrow revenue base, Craigslist doesn’t dispute estimates that it grosses $10 million a year. A former employee given 25% of the company in 1999 sold it to eBay for an estimated $12 million to $15 million, implying an overall value of $60 million — a princely sum for a 14-person outfit. “There’s no genius behind it,” Newmark says. “It’s persistence and listening to people.” So sure, we love him. We love Craig Newmark because, in a sense, he loves us. Daniel Akst Martha Stewart, Martha Stewart Omnimedia because she took one for the team Richard Branson, Virgin Group because he’s game for anything. In fact, everything. Michael Dell, Dell Computer for being brilliantly straightforward Jim Sinegal, Costco because who knew a big-box chain could have a generous soul? Diane von Furstenberg, Diane von Furstenberg Studio for staging an elegant comeback Julie Azuma, Different Roads to Learning for offering hope and help to the parents of autistic children Fritz Maytag, Anchor Brewing for setting limits Ray Kurzweil, Kurzweil Technologies and other companies because he is Edison’s rightful heir Craig Newmark, Craigslist for putting the free in free markets Jack Mitchell, Mitchells/Richards because his family business makes an art of customer service Frank Robinson, Robinson Helicopter for whipping an entire industry into shape Mark Melton, Melton Franchise Systems for giving immigrants their shot at the American Dream Michelle Cardinal & Tim O’Leary, Cmedia and Respond2 for rewriting the rules for husband-and-wife teams Mike Lazaridis, Research in Motion because someone had to stand up for all those frustrated engineers Trip Hawkins, Electronics Arts and Digital Chocolate for still scrapping Warren Brown, Cake Love and Love Cafe because only in America will someone quit a secure job as a lawyer to start a bakery Muriel Siebert, Muriel Siebert & Co. for being a notable first with a worthy second act Chuck Porter, Crispin, Porter + Bogusky for verging on reckless Katrina Markoff, Vosges Haut for setting a completely unreasonable goal for her business Barry Steinberg & Craig Sumerel, Direct Tire and Auto Service for showing the power of the peer group Victoria Parham, Virtual Support Services for serving as a mentor to military spouses Tom LaTour, Kimpton Hotels and Restaurants for staying at fleabag hotels so that we don’t have to Mitchell Gold & Bob Williams, Mitchell Gold for creating a true comfort zone Izzy & Coco Tihanyi, Surf Diva for kicking sand in the face of conventional wisdom Tony Lee, Ring Masters for saving 16 jobs, including his own Rueben Martinez, Libreria Martinez Books and Art Galleries for simultaneously building a business and nurturing Latino culture