Entrepreneur of the week: Sheri Schmelzer

Pretty jewelry for ugly shoes. That’s what Jibbitz are. Sheri started making little adornments out of clay and rhinestones for the vent holes in her family’s Crocs at her Boulder, CO home and when hubby, Rich, saw them he thought they might sell. The couple took out a home equity loan, built a Web site, set up some designs and later found a manufacturer in China and “Jibbitz” was born. They set up accounts with a few clients but then attended the World Shoe Association convention in Las Vegas and things took off. Within the first year, they sold over 8 million of the little fellas in designs like peace signs, daisies, and sports logos! They moved from home to a commercial space which they outgrew in a year. They moved 40 employees into 12000 square feet in June 2006.   

It was serendipity when Croc’s founder, Duke Hanson, ran into one of the Schmelzer daughters at the local pool and noticed the Jibbitz in her shoes. He asked her to have Sheri call him. Crocs bought Jibbitz in December 2006, but allowed it to operate as a wholly owned subsidiary and Sheri and Rich continue to work for them. There are over 1500 Jibbitz designs and they have rights to Disney, Marvel and other well-known brands. The Schmelzers said this in an interview (before the Crocs buy out) with the Boulder site Daily Camera: “Organic growth and word of mouth is how we’ve been working. We don’t want to grow too fast. We’ve failed if you call into Jibbitz and we don’t answer the phone.”

Photo courtesy of Timesonline UK.

Entrepreneur of the Week: Wendy Piersall

Wendy Piersall is a great example of exploiting a niche that you are a part of and know intimately. She knows what it is like to be down and out, having lived in her vehicle and depended on the charity of the Salvation Army before moving in with her parents as a single mom. During that time she started her first business as an artist and her journey as a serial entrepreneur.

Wendy understood what it was like to be mom with a home business and thought she might have some information to share with other moms so she started blogging. When Sparkplugging took off, the media began recognizing her as an  expert. She started researching and tracking how women and mom’s use social media and began being sought after for her knowledge about this demographic. She built on Sparkplugging’s blog popularity (being selected as one of the best business blogs, especially for women, by many media outlets) and began doing public speaking and consulting on social media for large corporations like Epson and Kmart.

Wendy has launched several other sites now, including Woo Jr. for kids and Momsational for moms. She’s done what we’ve encouraged readers to do consistently-find your niche, follow your passion, brand yourself and leverage your skills and content! For rising from the ashes and doing what she loves, we recognize Wendy as our Entrepreneur of the Week!

Entrepreneur of the week: Lynda Resnick

Lynda Resnick turned pomegranates into gold. She tripped over future success when a piece of property she purchased with her husband in California included 100 acres of the little- known fruit. Despite being urged to plow that area down and replant with something more profitable, they decided to research the ancient fruit and found there were possible medical benefits to the juice. Pom Wonderful was born. Even if you’ve never had any of their fruit juices, you would likely recognize the squatty little bottle. Though the company was only formed in 2002, pomegranates, thanks to Pom, have taken off! Pomegranate martinis, teas, Starbuck’s pomegranate Frappucino’s and more have lead to an increase market for the fruits themselves…and helped with Pom’s visibility. 

The Resnicks own other companies including Teleflora and Fiji water and recently sold interest in the parent company responsible for Franklin Mint. But Pom Wonderful put them on the map…enough to donate $45 million

to the Los Angeles County Museum of Art for a pavilion named after them. To keep up with sales, the company has planted 6,000 additional acres of pomegranates (which are not easy to juice!) in Central California . Asked how she managed to get a new juice into the refrigerator sections of grocery stores, the feisty Resnick says to the UK Guardian : ‘We went to the very top of every organization and spoke to the CEOs,’ she says. ‘Once they saw the packaging, understood our marketing and tasted the product, they couldn’t say no. If we’d let a bunch of brokers run around, talking to low-level grocery people, they’d have been afraid to take the idea upstairs.’ 

Lynda, who compares pomegranate seeds to rubies, has a new marketing book soon to be released to advance praise called Rubies in the Orchard: How to Uncover the Hidden Gems in Your Business. She also writes an incredibly witty blog for The Huffington Post and has been selected routinely as one of Working Woman’s Top 50 Women Business Owners. Lynda, who is an avid networker, credits her contacts as the reason for Pom’s enormous success. Who knew knowing people could make the difficult little pomegranate so darned popular? Here’s to Lynda and her marketing savvy!

Entrepreneur of the Week: Robert Kiyosaki

You may not recognize his name, but you’ve undoubtedly seen or read his book, “Rich Dad/Poor Dad” which has been on the NY Times bestseller list for an incredible 7 years (one of only three books to do this). Robert Kiyosaki is an entrepreneur, a speaker, a coach and financial authority on investing. A fourth-generation Japanese American and Vietnam veteran, Kiyosaki did a stint at Xerox in sales, before starting his first company that manufactured Velcro “surfer” wallets (he was raised in Hawaii). Like many entrepreneurs, his first company went bankrupt in the ’80′s. Did he quit and go back to Xerox? Heck no! He started another company licensing t-shirts for rock bands. Then another to educate people about financial issues.

In the mid-90′s, he started Cashflow Technologies, which operates his massive “Rich Dad” enterprise. He originally self-published Rich Dad/Poor Dad, printing 1000 copies on his own and creating an underground following before it was picked up by a major publisher. He spun RD/PD into a series of books including Cashflow Quadrant Rich Dad’s Guide to Investing, and Why We Want You to be Rich (with Donald Trump). His newest release is Rich Brother/Rich Sister, which he co-authored with his sister, Emi, a Tibetan Buddhist nun sister that examines their two different relationships with money.

Kiyosaki is a touchstone for criticism. Many people feel his financial messages are thin. But it is clear that he has touched millions with that message or his book sales would have faltered long ago. He, no doubt, makes more on his books and speaking engagements than he ever did in his original entrepreneurial ventures, but does that make him less an entrepreneur? Nope. That makes him smart! He was born to a school superintendent and never graduated college. He is a self-made man and savvy entrepreneur. For this, he is our entrepreneur of the week!

Entrepreneur of the Week: Gary Vaynerchuk

gary

Seth Godin , in his new book Tribes , lists Gary Vaynerchuk as one of today’s new tribe leaders (tribe=niche). He’s a recognized wine expert and retail wine business owner, a first generation immigrant from Russia, an Internet celebrity expanding that to outside the cyber world as a guest on shows like Ellen Degeneres and Conan O’Brien and into publications like GQ
and Time. The Wall Street Journal lists him as one of their wine experts. He’s considered an expert in social media and business branding.
 

Gary’s adventure started when he took over his father’s New Jersey liquor store and revamped it into the nationally recognized Wine Library. He started because he was bored working in the store and he did what we ALL should do in business: he learned everything he could about his niche product by reading wine trade journals and Wine Spectator magazine
. He learned all he could about palate and defining tastes, training a very sensitive set of tastebuds! After his first Wall Street Journal article, Gary started Wine Library TV, an energetically hosted Webcast about wine. Wine Library TV gets over 80,000 viewers each day! Why? Gary is being his most authentic, unconventional self, plus he really knows his stuff, and this is attracting viewers. Just talking wine wouldn’t do it. He will discuss wine in his bathroom sitting on his (closed) toilet. He’s known for telling consumers to trust their own taste. If it tastes good to them, that’s fine. He often pans popular wines. But wine is just the first half of the story.

Gary learned to harness social media. He can be found everywhere: Facebook (AskGary group, Twitter, Pounce, MySpace, LinkedIn and more). Wine Library TV started forums and created their own community for members to exchange wine ideas and ask questions. He’s become an in-demand speaker (one colleague said this about Gary’s appearance at South by Southwest: ” While all the other speakers spoke from slides and notes, Gary just talked.  You could tell what he was saying was from his heart, which is really cool.”). He’s considered an expert in Web 2.0 technology and also does business consulting. There’s a caveat though. If it’s football season, everything comes in 2nd to the NY Jets!

Words from Gary: “I want my brand to be my DNA”.

Great words from this week’s entrepreneur!

Entrepreneur of the Week: Russell Simmons

Russell Simmons

is a true American success story. Regardless of your feelings about hip-hop, it is hard to ignore this unassuming man’s intelligence, creativity and ability to diversify his business. Born to middle-class parents, Simmons could have taken a different, troubled direction on the streets of Queens NY, but was drawn to the new sounds of hip-hop. Simmons, who’s part of music royalty, founded Def Jam records, with Rick Rubin, in 1984 and has continued to expand into clothing, tv  and film production and activism.

Simmons had a gift for identifying and promoting hip-hop talent early on, supporting the rebellious nature of his artists. He continued to develop Def Jam Records and then sold it in 1999 for $100 million. In the meantime, he also started Phat Farm clothing and started producing the Russell Simmon’s Def Jam Comedy series/tour and then his Def Poetry seriesvarious documentaries and movies.

His 2007 motivational business book Do You! was a national bestseller and Simmons is an outspoken animal rights advocate and vegan as well as a respected philanthropist. The less flashy version of Sean Combs

, he is equally creative and passionate about increasing opportunities and respect for African-American artists and entrepreneurs. For this reason, and the fact that he seems like a really nice guy, he is this week’s Entrepreneur of the Week!

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