WHO:Eric Schnell and Steve Kessler
WHAT: Steaz: The Healthy Beverage Company. Steaz is the maker of USDA Certified Organic and Fair Trade Certified beverages, including iced teas, green teas and energy drinks. They’re the best-selling natural Energy Drink brand in the U.S.
WHEN: 2001
WHERE: Newton, Pennsylvania
HOW: Kessler and Schnell met in the 90’s while working at health food companies. The same family owned both companies and the duo worked together on the launching of over 1,000 products. “One day we said that we could create a company that really makes a difference in the world; we had a great idea-making soda healthy,” says Schnell. Their vision was to take a familiar taste and make it healthier. “We decided to change soda and make it healthy. We put green tea and organic ingredients in carbonated water,” says Schnell.
Schnell and Kessler took their idea and did what I typically tell people not to do. “We used every nickel in the bank, mortgaged our houses, took out credit cards and maxed them out…all the crazy things entrepreneurs do. We believed in the concept,” says Schnell. The gamble eventually paid off. With about a half a million dollars in seed money, Kessler and Schnell began to build their brand. They worked tirelessly to promote their brand and six months before it’s official launch they left their 9 to 5 jobs.
Today, their business More…
WHO: Kalika Yap
WHAT: Serial Entrepreneur: Citrus Studios, Luxe Link and The Waxing Co.
Yap is also a mother of two.
WHERE: Santa Monica, California and Honolulu, Hawaii
WHEN: Yap started her first business, an interactive design agency, Citrus Studios in 1996. Her second venture, Luxe Link, which makes handbag holders, launched in 2006. Her latest business, The Waxing Co., Honolulu’s only salon dedicated solely to waxing, opened just over six months ago.
HOW: When Yap started Citrus Studios, all it took was a used computer, $400 she borrowed from her parents and a passion for web design. At the time, Yap was working at a museum and doing freelance web design projects on the side. When the amount of money she made from freelancing exceeded her regular salary, Yap knew it was time devote all of her efforts into pursuing her passion. “I really should have quit six months earlier than I did. I thought, ‘I need a job. What happens if something happens?’ I was trying to be careful.” Looking back, Yap says that it’s transitioning from your 9 to 5 job into entrepreneurship that makes your business that much better. “The moment that you take the leap it forces you to align everything. When you’re working without a net you’re a little more careful. When you have a job you always have a backup.” Thirteen years after taking that leap, Citrus Studios does well over $1 million dollars in business every year.
Luxe Link, Yap’s second business and a joint venture with her former NYU roommates, was launched More…
In 1999 Marcy Cohen started making hair clips for her daughter for fun. Today, Cohen and her sister Lori Rockoff are partners in Pea Soup, a line of children’s clothing and accessories. Read on to see how they turned their hobby into a half-million dollar a year business.
Who: Marcy Cohen and Lori Rockoff
What: Pea Soup Accessories for Kids; a manufacturer of handcrafted children’s hair clips, bows and more. You might have seen their designs on the offspring such celebs as Gwyneth Paltrow and Jennifer Garner.
When and Where: Ten years ago in Chicago, IL
How: In 1999 Marcy Cohen was working as a teacher. Her sister, Lori Rockoff was doing social work. For fun Marcy started making hair clips for her daughter and from there, Pea Soup was born. “I found myself going in my restaurants and people would stop me and say where did you get this bow…we didn’t start with a plan. We were buying materials, going to craft stores. Our first customer was a children’s hair cutting salon. We brought our items in and they placed an order.” That first order may have only $150 but the satisfaction they got from this taste of success was enough to spur them on. “We were so excited. It’s still exciting,” said Cohen.
From there, the orders only got larger. “When we first started we were the ones making the clips. We were in LA a year and a half into it when we got our first big order. It was about $1,200.” After a weekend spent on the floor of Lori’s apartment assembling the clips, More…
It’s often said that times of economic hardship are the best times to start your own business. Saving money by hiring interns, finding investors to back your business and having a unique product or service are all great ways to get yourself on solid financial ground and help your business take off. Watch the video below for more.
Did you take your great idea and turn it into a real moneymaker? If so, we’d like to hear about it! Next Friday we’ll kick off a blog-series profiling a different entrepreneur each week. If you’re an entrepreneur and would like to share your story, click here.
