Real Life EntrepreneurReal Life Entrepreneur

How Real People Create Real How Real People Create Real Businesses Every DayBusinesses Every Day

The Grim Truth About Starting a The Grim Truth About Starting a BusinessBusiness

80% of all small businesses started 80% of all small businesses started this year will be out of business by this year will be out of business by next yearnext year

80% of the remaining 20% will not 80% of the remaining 20% will not be around 5 years from nowbe around 5 years from now

If a business makes it to the 5 year If a business makes it to the 5 year mark, it is not guaranteed it will see mark, it is not guaranteed it will see the 10 year markthe 10 year mark

Real Life Entrepreneur #1 Real Life Entrepreneur #1 ZAC VOSS – Voss DistributingZAC VOSS – Voss Distributing

Statewide Statewide Distributor of Red Distributor of Red Bull Energy DrinksBull Energy Drinks

2007 Sales 2007 Sales Projection: $6 Projection: $6 MillionMillion

Age Started: 24Age Started: 24

Real Life Entrepreneur #2Real Life Entrepreneur #2TOM SZAKY -- TerraCycleTOM SZAKY -- TerraCycle

Sells a Sells a product product made made completely completely of garbageof garbage

2007 Sales 2007 Sales forecast: forecast: $5+Million$5+Million

Age Started: Age Started: 2121

Real Life Entrepreneur #3Real Life Entrepreneur #3STEVE SHRIVER -- EcoLipsSTEVE SHRIVER -- EcoLips

Sells organic lip Sells organic lip balmbalm

Sold his first Sold his first company at 31 for company at 31 for $1.8M$1.8M

Ecolips Projected Ecolips Projected 2007 Sales: $2.5M2007 Sales: $2.5M

Age started: 26Age started: 26

Real Life Entrepreneur #4Real Life Entrepreneur #4SHERRI SCHMELZER -- JibbitzSHERRI SCHMELZER -- Jibbitz

Sell “jewelry” for Sell “jewelry” for CrocsCrocs

8 Million pieces 8 Million pieces sold in the first sold in the first yearyear

Bought by Crocs Bought by Crocs for $10M + $10M for $10M + $10M payout on salespayout on sales

Real Life Entrepreneur #5Real Life Entrepreneur #5MAX LEVCHIN -- PaypalMAX LEVCHIN -- Paypal

Started company in Started company in Dec of 1998Dec of 1998

Sold company to Sold company to Ebay for $1.5 Ebay for $1.5 BILLION in October BILLION in October of 2002of 2002

His share -- $34MHis share -- $34M His age – Mid 20’sHis age – Mid 20’s

Real Life Entrepreneurs #6Real Life Entrepreneurs #6STEVE CHEN/CHAD HURLEYSTEVE CHEN/CHAD HURLEY

Created a video Created a video sharing portal on the sharing portal on the webweb

Sold within a year of Sold within a year of it’s launch for $1.65 it’s launch for $1.65 BILLION!!!BILLION!!!

Chen – 29 ($330M)Chen – 29 ($330M) Hurley – 30 ($345M)Hurley – 30 ($345M)

Tips for getting started in Tips for getting started in business…business…

Find a mentorFind a mentor Create a business plan and/or a Create a business plan and/or a

master vision for the businessmaster vision for the business Find start up capitalFind start up capital Keep expenses lowKeep expenses low Work for free until you are in the Work for free until you are in the

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Real Life EntrepreneurReal Life Entrepreneur

How Real People Create Real How Real People Create Real Businesses Every DayBusinesses Every Day