November 30, 2006
Can You Start a Successful Business with $1500?
Yes, it’s possible.
Matt Byrd won $1500 in Las Vegas and he used it to invest in his future.
Sure this student at The University of Miami could have invested his winnings in a new computer or in beer at the local pub. Instead he did his homework. He uncovered a market for high-end foam memory mattresses sold direct to college students via the web.
The public demand combined with Byrd’s idea to offer the products at discounted prices (through on-line marketing with virtually zero overhead) lead to the beginnings of a profitable business.
Byrd’s initial investment of $1500 has blossomed into a $3500/week business. That’s not too bad for a full time student and part time entrepreneur.
Click here to read the full story in the Miami Herald.
The keys to Matt Byrd’s business successful start-up were:
- Finding a niche and focusing on it.
- Sticking to the business plan he developed based on research.
- No giving up when sales were sluggish at first.
It’s amazing how many people do not follow these three simple steps as they start their business. A little planning goes a long way when money is tight at start-up.
Filed under: Entrepreneurship - Start-up
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