Mission: We Use the Web to Help Businesses Grow

The Start: December 2008

Revenues: $50K+

Initial Investment: $0

Broke Even: Immediately

Where: Boston, MA

Your name, email, phone: Ross Beyeler, ross@growthspark.com, 978-401-4141

Babson Affiliation: Class of 2009

Employees: 4

Founder’s Past: A graduate of Babson College, Ross has been an active entrepreneur in the technology space since 2005 with experience ranging in affiliate marketing, business development and strategic management. In 2007, Ross co-founded For Art’s Sake Media, Inc., a technology company servicing the art industry, where he led the organization through its seed funding, team building and product launch. Since 2008, Ross has focused on helping Growth Spark, a full service web design, development and consulting firm,  and its clients become leaders in their spaces.

How The Idea Began: After the conclusion of my first company, I needed to start earning income immediately - start-ups are expensive. Over the course of the two years I spent at For Art’s Sake Media, I acquired a vast amount of experience with technology, strategic development and an understanding of the start-up environment. I initially applied that experience through freelance consulting but eventually saw an opportunity for a full service consulting firm that could provide businesses with web-based marketing/sales solutions spanning strategic development through implementation.

Favorite Thing about the Business: The close involvement with so many different businesses. Each client feels like a new start-up that my team is apart of. We work intimately to help our clients identify their goals, develop a strategy to achieve them and provide the services necessary to do so.

Worst Thing About the Business: Service-based businesses often lead to unpredictable revenue cycles and can be dramatically affected by client relations/expectations. The variability of deadlines throughout the development process can be frustrating as projects are pushed back.

Biggest Challenge: Building the initial foundation of portfolio work to establish a reputation and sample of your capabilities. It’s difficult to demonstrate to businesses how you can help them if you don’t actually have samples of your work.

Lesson Learned: It’s essential to balance strategic development with ongoing client work. Getting caught in daily project is far too easy. It’s necessary to step back to evaluate the strategic direction of your company even in the midst of a heavy project load.

Business: LiveFyre; www.livefyre.com

Mission: To inspire and facilitate conversation about what’s going on in the world right now.

The Start: Incorporated in April 2009. Left our full-time jobs in July. Launched the site December 7, 2009

Revenues: We have two main streams of revenue: advertising and licensing. Mini Cooper signed on as our premiere launch sponsor so we were able to launch with revenue in place. Since then we’ve been focused on developing our second stream – licensing our technology to online communities who are looking for a better way to hold conversation on their sites.

Initial Investment: Bootstrapping. Looking to raise our first round of funding in the coming months.

Broke Even: Not yet

Where: San Francisco, CA

Your name, email, phone: Henry Arlander, henry@livefyre.com, 415-577-7325

Babson Affiliation: Undergrad ‘05

Employees: 5 (CEO/Co-founder, COO/Co-founder, and three engineers)

Founder’s Past: Advertising. Prior to LiveFyre, I was an account manager on the Sprint account at Goodby, Silverstein and Partners (Adweek’s agency of the decade). Before that I worked on the Four Seasons Hotels campaign and Buzzed Driving is Drunk Driving public service campaign at Mullen Advertising.

How The Idea Began: My friend Jordan and I came up with the idea for LiveFyre over dinner one night. We were talking about Twitter and how it’s great for spreading information, but that it doesn’t really support back and forth conversation very well. So we came up with LiveFyre- a website that inspires and facilitates real-time conversation about what’s going on in the world right now. Breaking news, current events, live sporting events, you name it.

Favorite Thing about the Business: My favorite thing about the business is that we’ve been able realize our vision…to see our idea become a reality. There’s nothing cooler. 

Worst Thing About the Business: While they helped me get through college, I never thought I’d be eating Ramen noodles again!

Biggest Challenge: Wearing multiple hats. My co-founder and I handle design, legal, PR, product, HR, project management, copywriting, accounting, finance, marketing and more. It’s a lot for two people to handle but at least it’s never dull.

Lesson Learned: Don’t be afraid to talk about your idea. A lot of start-ups are scared to share their idea for fear of having it stolen. We were no different. However once we got over that and started sharing it with people in the tech community, potential investors, potential advisors, etc. it opened a lot of doors for us.

Name of business: Taylor Stitch; www.taylorstitch.com

Mission: Our mission is to partner technology and American tailoring to create custom fit dress shirts of incredible value and to distill the world marketplace through the lens of craftsmanship and value.

Founded: 2008  

Initial Investment: $20,000

Broke Even: Not yet, but soon…

Where: San Francisco  Founders: Barrett Purdum ’07, barrett@taylorstitch.com, and Michael Maher ‘07, Michael@taylorstitch.com. 

How The Idea Began: My dad would bring back these really sharp custom shirts with colorful patterns from Hong Kong. After he realized that I kept taking his shirts, he would have shirts made for me and they were only $50 a piece. Mike and I knew there had to be a market for younger men to buy unique custom shirts online.  

Initial Preparation to Germinate Idea: Mike and I first traveled to Hong Kong to source manufacturing. After meeting with many tailors and business people in the garment industry we realized our initial volume was too low to source production overseas. Soon after that we found a reputable factory in New Jersey that has been making custom shirts for over 75 years.  

Favorite Thing About the Business: The excitement and adrenaline that come upon you when your ideas come to life and the pieces come together.

Worst Thing About the Business: Wearing custom shirts and living in San Francisco while splitting a room with my business partner and eating lots of rice and PBJ. 

Ankota CTO Ken Accardi is quoted in a new Babson video promoting the Fast Track MBA.

Ankota is the pioneering company in the field of Healthcare Delivery Management (HDM). Ankota provides Home Care Software Solutions delivered via the Software-as-a-Service (SaaS) model that improves efficiency and compliance within Home Healthcare Operations. All Ankota solutions are designed with inputs from the home care community with the goal to provide better patient care in a provider-friendly manner. For more information, please visit http://www.ankota.com/.

Name of business: Mi-Bra

Founder/s: Carolina Baker ‘05, carolina.baker@gmail.com

The beginning: A little more than a year ago, I took long distance running up as a hobby and started participating in marathons. I immediately noticed a need for an eco-friendly women’s sports bra with a pocket. So I contacted a manufacturer in Colombia that my family knew and sent him a couple pictures of what I had in mind. He sent me back samples and I was sold. The Mi-Bra is comfortable, made with 100% organic cotton, and has a no frills pocket for you to place your iPod when exercising. Even if you don’t exercise with music, you can put a couple dollar bills to take to the gym and buy a bottle of water before or after your workout. It’s a win-win situation, either way.

Initial Investment: From emailing blogs, to sending out samples and to communicating with the manufacturer, I’ve dedicated a lot of time to this business. The cost of submitting a trademark application for the Mi-Bra was three hundred dollars. Additionally, I’m working with a web designer to create an online presence. The cost of the website will be approximately a thousand dollars. I paid the manufacturer three thousand dollars to receive my first batch of Mi-Bra’s.

Employees: Myself.

Founder’s Past Life: I continue to be a financial services employee by day and a graduate student by night. I do not foresee my situation changing in the near future.

Initial Preparation to Germinate Idea: My initial preparation to germinate idea wasn’t very long. From taking up long distance running to observing a need for a Sports Bra with a Pocket was almost as natural and gradual as my love for running and for long distances grew. I needed a place to keep my iPod steady and my debit card and ID handy. In May, I chose to do something about my idea by contacting a couple people I knew. From there, it’s history!

Favorite Thing about the Business: Knowing that women are exercising more comfortably because of me.

Worst Thing About the Business: Having to coordinate production with an international manufacturer.

Biggest Challenge: Believing in my product when some people haven’t.

Lesson Learned: Everything worthwhile takes time. Patience is definitely a virtue. And only with hard work will you see your dreams take-off!

Additional Information: http://www.youtube.com/watch?v=mFncHbo-8rw and http://www.fitceleb.com/node/6339

Shortly following a successful launch this past August, MBA alumni business Common Soles LLC, is now announcing the release of two new styles of flip-flops. The sales of these two new styles will generate funding to support education in the region of India in which they were crafted.

Common Soles LLC, was founded in 2009 in Wellesley, MA by Dave Mesicek and Rao Naraharasetty as a brand of footwear that exists as a means to generate funding to support community improvement initiatives in manufacturing communities around the globe. Additionally, Common Soles will bring innovation and transparency to the footwear supply chain through making the direct connection between the factory worker and the eventual consumer. Common Soles footwear is handmade by skilled craftsmen and women in many of the world’s regions where Common Soles’ funded initiatives are in action.

Common Soles products are available online and via select retailers.

Rockler Woodworking and Hardware, the nation’s leading supplier of specialty hardware, tools, lumber and woodworking products, has announced a strategic alliance with MBA business CustomMade Ventures, an established online resource and marketplace connecting woodworkers with buyers of custom-built wood furniture, cabinets and woodcrafts. This partnership (details at http://www.Rockler.com/CustomMade) aims to dramatically boost interest and sales in custom-made wood products and support small business growth.

“We’re thrilled to now provide a cost-effective and turn-key marketing solution to our customers: makers of fine furniture, cabinetry and woodcrafts,” explains Scott Ekman, vice president of marketing at Rockler Woodworking and Hardware. “This new partnership will give them access to more than 750,000 consumers shopping for custom-made wood products. The average members’ catalog is currently viewed over 4,000 times per month giving woodworkers much more exposure than other advertising options.”

“Partnering with Rockler Woodworking is a fantastic opportunity for CustomMade.com and our members,” says MBA student Michael Salguero, CEO of CustomMade Ventures. “Both organizations are dedicated to growing the market for custom woodworking and believe that small business growth is the key to our nation’s economic recovery. It’s a perfect match.”

For more info, click here.

Name of business: Napkin Labs, Inc.

Mission: Deliver game-changing products and services to clients by democratizing the process of innovation.

Description: Napkin Labs is an online, collaborative innovation service designed to rapidly deliver generation Y-centric new product and service concepts to our clients.  Our distributed model of innovation blends the creative energy of a worldwide network of emergent Gen Y innovators with disciplined design processes to yield breakthrough new offerings that are rooted in our client’s brand and strategy, fueling topline growth.

Began in (year): July, 2009

Revenues: Confidential

Initial Investment: 100k seed round closed in September - Currently raising a series A of 500k

Broke Even: Not quite there yet - 12 months from now is our projection

Where: Boulder, Colorado (Unparalleled start-up community and we are absolutely blessed to be here.  Co-located with Threadless Inc.)

Your name, email, cell: Riley Gibson, riley@napkinlabs.com, 503.784.5432. twitter = @rileygibson

Undergrad or Grad Student:  Undergrad - graduated May ‘08

Employees: 3 but growing

Founder’s Past Life/Business:
- Babson, Studied corporate entrepreneurship and new venture creation - completed honors thesis on ‘The Synergistic Relationship Between Art and Science in the Process of Innovation’ - Napkin Labs, in many ways, is the concluding chapter I never wrote.

- Marketing at Nau, Inc. an outdoor sustainable apparel company

- Corporate Entrepreneurship at Intel Corp. in New Business Initiatives

- New product development at Sterling-Rice Group - Consulting

How The Idea Began (One or two sentence quote from Founder): Napkin Labs was an elegant coincidence of meeting my-cofounder at SRG, jointly identifying a profound need to reinvent the model of innovation within large companies, and discovering/developing the technologies and methodologies to enable this transformation. Napkin Labs was not an aha moment, but rather a solution evolved over time to solve a critical need we were observing in our positions as innovation consultants.

Initial Preparation to Germinate Idea: Warren and I threw together a working online community and technology platform and just experimented to see what would happen.  That first project truly opened our eyes to the power of distributed, collaborative innovation.

Favorite Thing about the Business: The community of emergent Gen Y innovators we have managed to recruit in such a short period of time.  They are what makes this business powerful and it is fascinating to watch the various functional disciplines interact and collaborate.  Where else can you watch a biomedical engineer, an MD/Phd, an industrial designer, and an journalist from 3 different countries work together to form an audio device!

Worst Thing About the Business (humorous): My non-existent Salary…One day…

Biggest Challenge: Evangelizing the benefits of open innovation and design methodologies to engineering and technology driven corporate cultures.

Lesson Learned: Prototype and iterate rapidly. The counter-intuitive lesson of innovation is to fail fast so you can adapt your course and build in your learnings (only if you are able to realize the utility of failure).  The worst possible thing any entrepreneur can do is do nothing!

Five teams of Babson MBA students showcased their new products developed during the graduate, single-semester Product Design and Development course (MOB-7555). Design-that-Matters and Essential Design were project sponsors.  Babson Professor Sebastian Fixson is the faculty director. Students were encouraged with prototyping support and engineering advice from Olin College of Engineering.  Matt Kressy from Rhode Island School of Design also consulted on industrial design.

U-Br311a–a modular umbrella with an assortment of colorful designs marketed to “urban hipsters”, age 23-28.

U-Br311a team (LtoR):  Yishu Xia, Seton Hawkins, Beth Borges, Michael Dunford (absent from photo)

Scrap Happy Digital Scrapbooking–an innovative software tool that enhances the user experience,blending the best of traditional and digital methods in the current scrapbooking trend.

Scrap Happy team (LtoR):  Ashley Sparks, Patricia Radford, Michael Hurwitz, Gordon Livingstone

Precious Blue Phototherapy–provides affordable phototherapy treatment for otherwise healthy babies suffering from neonatal jaundice.

Precious Blue Phototherapy team (LtoR):  Shilpi Gupta, Molly McDonald, Lara Clemenzi, Rahul Bhansali, Prakash Bhatia

Long Beach AllStar–An all-in one transportation solution for day excursions to the beach.

Long Beach All Star team (LtoR):  Rachel Texeira, Tanya Dumrongmanee, Derek Chapman, Matt Nuernburger (absent from photo)

The Bouncer–a trendy umbrella designed with an attachment that agitates a specially-coated canopy, efficiently shedding accumulated water pools.

The Bouncer team (LtoR):  Matt Benjamin, Carlos Mazo, Jeff Meeter, Lulu Wang

Mass High Tech reports that Fitnesskeeper, Inc., founded by Jason Jacobs M’05, has received $400,000 seed-stage investment from LaunchCapital.

The company was founded in June 2008, and is based in Boston.  Jacobs is a runner who came up with the idea for RunKeeper while training for the Chicago Marathon, which he completed in October 2007.  During that training, he was using several existing sites and technologies to track his statistics and progress, and he became convinced that things could be done so much better than they are today.   It took a few months of planning, but he left his job in May 2008 and set out to launch RunKeeper.

RunKeeper is a mobile fitness platform that allows users to use the iPhone (and eventually other devices as well) to track fitness activities and share them with friends.

LaunchCapital addresses the capital needs of companies that are in the earliest stages of funding by providing a needed source of financing to companies that can quickly advance to the next level of development.