Thursday, September 02, 2010

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Yet Another Success Story

I wanted to introduce another great Entrepreneur School success story.  Craig and John started a really cool company recently.  Craig is one of our corporate videographers and has listened to our shtick many times.  He was already self-employed before we met him, so he has entrepreneurial roots and tendencies from the beginning.

Their new company is called Your Legacy Video, and they make TV show-like documentary videos about your loved ones.  I love this idea.  I make videos for my kids documenting big vacations, their first year of life, and things like that.  They love them.  My dad is currently taking all the old 8 mm videos from the 60s and 70s and making DVDs out of them.  There is obviously a huge demand for products like Your Legacy
Video’s.  They offer a true value-added service,however.   They do all the standard stuff like digitizing your videos and pictures.  But they also interview the major family players, put together a script and storyline, add music, and edit the whole thing into a coherent TV quality video about your loved ones.  Great, great stuff.

There are several reasons why The Entrepreneur School loves this company:

  • it’s a trendy, cool product with a huge, growing demand,
  • they are experts in this field already and are leveraging years of skills,
  • they spent very little to create this new company,
  • awesome website,
  • they have been marketing creatively to a clear target audience,
  • they seek and listen to advice about growing their company,
  • and they have reduced risk to the point where they can’t fail!

Congrats and good luck to you two.  Check out www.YourLegacyVideo.com

Another Success Story!

I wanted to share another Entrepreneur School success story with you.  I have known Justin for 5 or 6 years, he has taken some classes from me, and we get dinner every once and awhile.  He is a really good guy.

In the last six months, he has started an iPod repair business that is pretty cool.  Justin buys bulk parts, broken technology, stuff from storage units, and any other stashes of iPod pieces.  He was an engineering major of some sort, and has technology skills, but as far as I understand, he had no skills with iPods.  Teaching himself through repeated practice, he has learned how to take iPods apart and fix them.  He says there are only 10 or so things that go wrong with an iPod, and through practice, he has been able to learn to solve the various problems.

Now, the cool stuff.  He still has his day job.  He is making about $1,000 a month.  He spends about 15 hours a week on the project.  He is getting better and better at it and is able to fix the units faster and faster.   He has a back inventory of about $15,000 of supplies (the broken units and various parts), so his supply chain is strong.  He likes it and is having fun.   He is fulfilling a growing need.  Imagine filling an iPod with $2,500 of music and then dropping it in a pool or something!

He sells through an eBay store, which you can find at www.techrepairparts.com He is excited to accept your parts (cell phones, digital cameras, mp3 players, laptops, etc.) or to fix your iPod.  You can reach him through the store or at techrepairparts@gmail.com

I love that he has listened to so many Entrepreneur School lessons.  Do things you love.  Reduce risk by keeping your day job.  Build slowly as you gain skills.  Sell through eBay to reduce costs.  Great stuff and a great job by Justin.

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