ReportWire

Tag: Founder

  • Founder of Sacramento dog training service that uses rattlesnakes fights to keep business going

    In a park just east of Sacramento, Jake Molieri guided us through his service Snakeout where he trains dogs and dog owners how to avoid rattlesnakes on hiking trails and parks. “They are obviously an animal that are dangerous if you get into an altercation and provoking them,” Molieri said. “They are never going to chase you or go after you.”Molieri currently uses his albino rattlesnake called Mr. Cheese for training. However, that snake is not the most ideal one to use for his business. “The only reason we are able to continue operating and continue doing the service is because we use these albino, which is not ideal because they are really hard to acquire,” he said. The State Department of Fish and Wildlife told Molieri he is not allowed to operate if he uses regular rattlesnakes that are found in Northern California. The state claims he violated regulations that protect those animals from being used for profit. “They told me the classes you’re doing are like illegal, you’re illegally commercializing these animals,” Molieri said. However, Molieri claims there is a gray area that needs to be changed. “The regulations they are citing were written back in the day with the idea of like, hey you can’t go out into the woods and catch a bunch of snakes and sell them into the pet trade and the skin industry,” he said. “They’re taking that idea and applying it to this dog class and saying that we’re basically selling the snakes. The snakes are not changing hands. The snakes are my snakes.”He filed a lawsuit to try to get the regulations changed. CDFW said in a statement: “Current regulations prohibit the take or possession of any native species unless specifically permitted by regulation for commercial purposes, as it presents a financial gain to motivate take. That commercial motivation can have negative impacts on native populations.”The lawsuit is still going through the court system. He hopes they can reach an agreement to change regulations that benefit his business and keep snakes safe. “We want to see more snakes being alive, less dogs getting bit and everyone having an understanding that nobody wants to get into an altercation with each other, but the state’s making it really hard,” he said. See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

    SACRAMENTO, Calif. —

    In a park just east of Sacramento, Jake Molieri guided us through his service Snakeout where he trains dogs and dog owners how to avoid rattlesnakes on hiking trails and parks.

    “They are obviously an animal that are dangerous if you get into an altercation and provoking them,” Molieri said. “They are never going to chase you or go after you.”

    Molieri currently uses his albino rattlesnake called Mr. Cheese for training. However, that snake is not the most ideal one to use for his business.

    “The only reason we are able to continue operating and continue doing the service is because we use these albino, which is not ideal because they are really hard to acquire,” he said.

    The State Department of Fish and Wildlife told Molieri he is not allowed to operate if he uses regular rattlesnakes that are found in Northern California. The state claims he violated regulations that protect those animals from being used for profit.

    “They told me the classes you’re doing are like illegal, you’re illegally commercializing these animals,” Molieri said.

    However, Molieri claims there is a gray area that needs to be changed.

    “The regulations they are citing were written back in the day with the idea of like, hey you can’t go out into the woods and catch a bunch of snakes and sell them into the pet trade and the skin industry,” he said. “They’re taking that idea and applying it to this dog class and saying that we’re basically selling the snakes. The snakes are not changing hands. The snakes are my snakes.”

    He filed a lawsuit to try to get the regulations changed.

    CDFW said in a statement: “Current regulations prohibit the take or possession of any native species unless specifically permitted by regulation for commercial purposes, as it presents a financial gain to motivate take. That commercial motivation can have negative impacts on native populations.”

    The lawsuit is still going through the court system. He hopes they can reach an agreement to change regulations that benefit his business and keep snakes safe.

    “We want to see more snakes being alive, less dogs getting bit and everyone having an understanding that nobody wants to get into an altercation with each other, but the state’s making it really hard,” he said.

    See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

    Source link

  • Why Reliability Is the Real Growth Strategy

    Every founder feels pressure to reinvent, to launch something new, move faster, or chase the next big idea. But in my experience building Piece of Cake Moving, the most reliable path to growth isn’t constant reinvention; it’s consistent execution. When products and pricing look similar, execution becomes the defining differentiator. Small operational details compound into a noticeably better customer experience. 

    Obsessing over every touchpoint 

    The difference between a forgettable experience and a remarkable one often comes down to the smallest moments. Reliability isn’t a brand attribute you declare. It’s a strategy you practice daily. When customers know exactly what to expect and you deliver on that promise every time, trust compounds. Trust, more than novelty, is what turns businesses into brands that last and grow over time. 

    From the very first greeting, whether by phone, email, or in person, to the follow‑up after the service is completed, treat every interaction as an opportunity to reinforce reliability. Because moving is inherently stressful, we emphasize cheerfulness, seamlessness and a “no problem” attitude across all communications. 

    For example, after the crew has completed each move right before they leave, they ask the customer, “Is there anything else we can do?” It sounds simple, but it leaves the lasting impression that we’re always ready to help, even after the job has been completed. Our back office then follows up with the customer by phone the day of, and these touchpoints consistently generate valuable feedback and deepen customer relationships. This kind of service matters: 80% of consumers consider their experience with a company to be as important as its products or services. 

    Training teams to see details 

    Great execution starts with a team that understands what matters. It’s critical to invest in training that emphasizes noticing and perfecting operational details. Don’t just talk to employees about customer service – model it too. The way we communicate with our team mirrors how we expect them to interact with customers. When our team reaches out for help, we react right away. We want to deliver the Piece of Cake experience for our employees, then it’s passed on to how they interact with customers. 

    Consistency comes from clear expectations and repetition. Whether answering a phone call, replying to an email, or while the service is being performed, empower the team to deliver experiences that align with your brand promise. It’s not about following a checklist. Instead, it’s about embodying a mindset that the small things are the big things. In a service landscape where 78% of consumers will abandon a business relationship due to poor service, being reliable at every stage matters deeply. 

    Reliability before reinvention 

    Customers form opinions long before they ever interact with your team. When people encounter a new brand, they rely on visual cues to decide whether it feels credible, professional, and trustworthy, with 94% of first impressions related to design. In a split second, your brand is already communicating, through color, consistency, and attention to detail, without a single word exchanged. 

    Go inside one interesting founder-led company each day to find out how its strategy works, and what risk factors it faces. Sign up for 1 Smart Business Story from Inc. on Beehiiv.

    Voyo Popovic

    Source link

  • A Self-Sufficient Business Starts With Systems Before Scale

    Here is a truth I have seen repeatedly: Scaling without systems is chaos with a marketing budget. Every business owner wants to grow. It feels exciting to add more customers, expand product lines, or hire new staff. However, without solid systems in place, growth only amplifies your problems. Twice as many customers can quickly turn into twice as many headaches. 

    Before you hire, advertise, or add a product line, stop and ask yourself, “Can my business handle double the customers tomorrow without breaking?” If the answer is no, your next step is not marketing or sales. It is system-building. 

    1. Document everything once. 

    Whether it is onboarding, quoting, or following up with customers, write down the steps. It does not need to be perfect or complicated. A simple checklist often works better than a 30-page operations manual that no one ever reads. When you document a process once, you give your team a reference point that creates consistency. If someone leaves or takes a vacation, these documentation systems mean your work does not stall. New hires ramp up faster, and quality remains steady even when you are not involved. 

    Start small. Pick one recurring process and write it down. Then, review it with the person who actually does the work. Their insights will make it stronger and more realistic. 

    2. Automate what is repeatable. 

    Emails, billing, scheduling, follow-up reminders—these tasks do not need to live inside your head. Automation is not just for big companies. Small business owners benefit even more, because every hour saved goes straight back to your bottom line. 

    Look at where your team spends time on repetitive actions and ask, “Can software do this for us?” You do not have to overhaul everything at once. Start with one automation that removes a low-value task from your day. Over time, those small wins compound into serious freedom of time. 

    3. Create feedback loops. 

    Systems are never a one-time project. A system is a living process that requires regular maintenance. What worked when you had five employees may fail when you have 15 employees. 

    Go inside one interesting founder-led company each day to find out how its strategy works, and what risk factors it faces. Sign up for 1 Smart Business Story from Inc. on Beehiiv.

    David Finkel

    Source link

  • 3 Ways Founders Can Choose the Right Sales Channel, According to a CEO

    Choosing the right first sales channel can shape everything that follows for a small business. Many founders get stuck debating whether to start online, in retail, or selling wholesale. According to recent data, e-commerce now represents about 16.3% of all U.S. retail sales as of Q2 2025. Meanwhile, among small businesses, 44% now sell online only, 16% sell in-person only, and 41% combine online and in-person sales—showing a clear shift toward hybrid or fully digital sales models. 

    Founders often rush into online, wholesale, or retail without understanding where their customers are looking for them. Yet, success happens only when you stay focused on what you uniquely contribute. Business leaders must match their sales channel to real demand and take action when momentum hits. 

    On a recent episode of The Big Idea from Yahoo Finance, I sat down with Baked by Melissa founder and CEO Melissa Ben-Ishay to explore how early sales channel decisions shape a company’s ability to grow. Ben-Ishay built a nationwide brand from her New York City apartment after getting fired from her job, eventually becoming CEO of a company that sells through events, retail, e-commerce, and a thriving social media engine. Her perspective is grounded in lived experience, from getting fired to going viral, and her three lessons for choosing the right sales channel are practical for any industry.  

    1. Focus on what you uniquely bring, and delegate everything else. 

    Ben-Ishay’s first tip for small business owners is simple: Stop trying to do every job yourself. “Get people to do everything that you don’t need to do,” she advised. “Those areas where I can uniquely add value, that’s the only place I should focus my time.” 

    For founders choosing their first sales channel, this means being realistic about capacity. If your strength is product quality, not logistics, you need the right support before scaling e-commerce. If your strength is brand, not operations, make sure someone else owns fulfillment and accounting. Channel strategy only works when the founder is not spread so thin that nothing gets done well. 

    2. Let customer demand determine where you sell. 

    The clearest theme in Ben-Ishay’s story is that the customers always point to the next channel. Her early growth was not planned. It was reactive to demand. Her friend brought cupcakes to a PR agency and that relationship produced her first revenue channel.  

    From there, tastings led to retail. Then, customers began asking for delivery. Event sales were driven by demand. Retail came from a retailer who approached her. E-commerce began because customers asked for it. Her channels expanded naturally because she listened. 

    Go inside one interesting founder-led company each day to find out how its strategy works, and what risk factors it faces. Sign up for 1 Smart Business Story from Inc. on Beehiiv.

    Elizabeth Gore

    Source link

  • The Communication Rule Steve Jobs and Jeff Bezos Always Followed—and Most People Ignore

    Steve Jobs and Jeff Bezos talked, so people listened. 

    Customers don’t care about “speeds and feeds,” Jobs would remind his teams at Apple. “People don’t just want to buy computers. They want to know what they can do with them.” 

    Jobs instinctively understood the key to effective presentations: Put the audience at the center of the story. Your listener will care about your ideas if you talk about what they care about. 

    In my communication classes at Harvard Executive Education, I introduce “audience-centric” communication as a system where the speaker puts the listener first. If you’re watching a boring PowerPoint, there’s a good chance the speaker is too focused on the information they want to get across rather than the content you’re most interested in. 

    Don’t be the boring speaker. Follow these four principles of audience-centric communication. 

    1. Start with the audience and work backward. 

    “Our fundamental approach is to start with customers and work backwards,” Jeff Bezos wrote in his 2009 Amazon shareholder letter. The principle of working backwards has stuck at Amazon ever since. 

    When I was researching my book, The Bezos Blueprint, I learned that nearly every major product or feature Amazon released—from Kindle to Prime—started life as a press release. The press release exercise will change the flow and the content of your presentations. When most people prepare presentations, they create slides, add data, and decide what they want to say. Does this sound familiar? 

    Carmine Gallo

    Source link

  • Steve Jobs Said Without This Experience, There ‘Would Have Been No Apple’

    In case you aren’t as old as me (who is), blue boxes were devices that could produce the tones used by telephones to switch long distance calls. Use a blue box, make long distance calls for free. (Calling my girlfriend when I was a freshman in college cost .45 cents a minute at a time the minimum wage was $2.65. You do the math.)

    Jobs and Woz sold approximately $6,000 worth of blue boxes before they were nearly caught by police, but that wasn’t the real lesson they learned.

    As Jobs tells the story:

    It was the magic of the fact that two teenagers could build this box for $100 worth of parts and control hundreds of billions of dollars of infrastructure in the entire telephone network in the whole world, [all] from Los Altos and Cupertino, California.

    Experiences like that taught us the power of ideas: the power of understanding that if you could build this box, you could control telephone infrastructure around the world. That’s a powerful thing. 

    If we wouldn’t have made blue boxes, there would have been no Apple, because we wouldn’t have had the confidence that we could build something and make it work, because it took us six months of discovery to figure out how to build this…

    Jeff Haden

    Source link

  • This Founder Cold-Emailed Salesforce CEO Marc Benioff 53 Times Before He Got What He Wanted

    Harry Stebbings, founder of venture capital firm 20VC, send Salesforce CEO Marc Benioff 53 emails before the business leader finally agreed to appear on his podcast, 20VC. Stebbings discussed his strategy November 12 on Wouter Teunissen’s The Biography Podcast, and shared some tips for making your communications stand out.

    To Stebbings, nothing matters more than relationships. That’s why, in a world where you can find anyone’s email online, he thinks “everyone should learn to be a really efficient SDR, but essentially a stalker.” 

    The 29-year-old puts 30 minutes a week toward “hustle time,” when he thinks about who he wants on his podcast and how to make it happen. To this day, he said he’s roped most of his guests in with cold emails.

    Stebbings told Teunissen that while cold emailing is “super learnable,” it’s ridiculous that “so few people can do that well.” So he offered some clear cut advice. 

    How to Write a Cold Email

    The subject line should be “f—-ing clear” and to the point, as should the body of the email, Stebbings said. Skip the filler phrases.

    “I hope you’re well? Never,” he said. “Who says I hope you’re unwell? No one.”

    Instead, Stebbings advises to immediately state your objective. Tell the person what you’re asking and how much of their time you need.

    Provide some background information to steer them towards agreeing to your ask. In Stebbings’ case, he lists the subscriber count and a few guests he’s had on the podcast to give his request some validity. 

    Next comes a “P.S.” followed by a personal touch. Stebbings tried a few different routes, like offering Marc Benioff his favorite whiskey, or mentioning his holiday home and favorite vacation spot. 

    “Wow,” Stebbings said, imitating a recipient of his emails. “Super clear, really well outlined, and holy s–t he’s done his work on my favorite whiskey. Well done.”

    Don’t Delay the Follow Up

    If you’re lucky enough to connect in person, don’t wait until the day after to reach out. Stebbings said he always emails in the Uber home from the event or dinner.

    “It’s so important because it just shows them that you’re on it, and it’s fresh in their mind,” he said. “Not hard at all. Honestly, sometimes it can be a copy and paste and you just put the first line as personalized. Makes such a difference.”

    His slew of emails paid off when Benioff came on the podcast in a September 2023 episode. Benioff shouted out his unrelenting efforts in a post on X.

    “Harry must have texted and emailed me 100 times before I agreed to be on his podcast,” Benioff said. “Persistence pays Harry.”

    The final deadline for the 2026 Inc. Regionals Awards is Friday, December 12, at 11:59 p.m. PT. Apply now.

    Ava Levinson

    Source link

  • Founder of $100 million company never unplugs from work, but encourages her team to have work-life balance: ‘They didn’t sign up to be entrepreneurs’ | Fortune

    Founders can find it hard to step away from work when their company rests on their shoulders. The concept of having “work-life balance” has sparked fierce debate among entrepreneurs, who question if it’s even possible to have the best of both worlds: scaling a multimillion-dollar business, with enough downtime to recharge. Two-time founder Nicole Bernard Dawes is a strong advocate of unplugging from the job—but only for her employees. 

    “I think I probably am a little bit of a hypocrite, because I don’t unplug. I never do,” Dawes tells Fortune. “I never want to be the person that’s holding up a member of our team.”

    The serial entrepreneur encourages her staffers to totally disconnect from work once they’re off the clock, but doesn’t give herself the same breathing room. Having scaled two companies to success, she’s assumed the responsibility of always being on for decades. Dawes first founded organic, non-GMO tortilla chip brand Late July in 2003, which currently lines the aisles of Targets, Whole Foods, Krogers, and Walmarts across the country. Campbell’s acquired a majority stake of the business in 2014, eventually buying the rest of the $100 million company in 2017. In 2018, Dawes broke into another consumer packaged goods (CPG) market again, this time with zero-sugar, sustainably packaged soda line Nixie. The brand raised $27 million in new funding earlier this year, with its products being sold in over 11,000 major grocery stores. 

    With more than two decades of entrepreneurship under her belt at Late July, Dawes had pushed through economic downturns and many sleepless nights. But the hardships didn’t stop her from returning to the startup scene as Nixie’s founder—having grown up in the business world, Dawes is not so easily deterred. However, she doesn’t want work to overtake her staffers’ lives.

    “I signed up for this. I am the entrepreneur, I did this to myself—a self-inflicted situation. [My employees] didn’t sign up to be entrepreneurs,” Dawes says. “I am very comfortable taking downtime, but also making sure I’m available.”

    Dawes says never unplugging is “my life”—and she grew up in it

    Many leaders out there, like Google cofounder Sergey Brin, expect their staffers to clock in more than the typical nine-to-five job. But Dawes doesn’t hold her her employees to have the relentless work-ethic of entrepreneurs who pride themselves on having no personal lives. 

    “I think that where a lot of [leaders] differ, is extending that to their team. I feel very strongly that it should not extend to the team,” Dawes explains. “But I also feel like that is how I grew up. My father missed a lot of stuff because he felt like that was what you had to do. So I was determined I wasn’t gonna do that. I wanted to be present at things for my kids, and I wanted [it] to be okay for our team to be that way, too.”

    Dawes witnessed the pitfalls of entrepreneurship as a kid growing up in her parents’ food businesses. She spent her childhood years working the front counter of her mother’s health-food store, and roaming the floors of her late father’s $4.87 billion snack empire: Cape Cod Chips. As a kid in a family running two businesses, Dawes says it could be difficult for her parents to step away from the job. So when she decided to follow in their footsteps as a two-time founder of successful CPG brands, she knew exactly what to expect. 

    “When you decide to become an entrepreneur, there’s a lot of people [saying], ‘It’s stressful, it’s lonely, it’s all these things.’ And that’s true, but this is where I was really fortunate: I grew up in this business, so I entered eyes wide open,” Dawes says. “That’s why it’s really important to be passionate about your mission, passionate about your products. Because you do have to sacrifice a lot on the other side.”

    Dawes still makes time for the important things

    While Dawes admits she has difficulty stepping away from the grind, she still makes time for the things that keep her sane. 

    “You have to choose what’s the most important thing in that moment. I don’t think as an entrepreneur—at least for me—I’ve never really, truly, been able to shut off completely,” Dawes says. “But I also make time to have family dinner almost every night. There were things that were priorities to me, and I still make them priorities, like going out for a walk every day or exercising.”

    The entrepreneur also loves hitting the beach, reading, and cooking—and despite it feeling like a chore to many, Dawes really enjoys going to the grocery store. She calls it her “hobby”: observing what new products are stocked on shelves, and what items shoppers are gravitating towards. It’s gratifying to witness people pick up a bag of Late July or a case of Nixie drinks to bring home to their families, something she feels immensely grateful for. While getting her brands into those grocery aisles has been no easy feat, it’s all been worth it in the end. Dawes says passion is what eases the weight of her work-life balance. 

    “Sometimes when I wake up in the morning like, ‘I can’t even believe I’m this lucky that I get to do this job,’” Dawes says. “And because I feel that way, it doesn’t feel like working. I’m getting to do something fun all the time.”

    Emma Burleigh

    Source link

  • LendingTree Founder and CEO Dies at 55

    LendingTree CEO and founder Doug Lebda died in an an all-terrain vehicle accident over the weekend, the online loaning platform said Monday. He was 55.

    In a company announcement, LendingTree confirmed that Lebda died on Sunday and that the company was greiving his unexpected death. A spokesperson said the accident occured at a family farm in North Carolina.

    “Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” LendingTree’s board of directors said in a prepared statement. “His passion will continue to inspire us as we move forward together.”

    Scott Peyree, LendingTree’s chief operating officer and president, has now been appointed CEO effective immediately. And lead independent director Steve Ozonian will also step into Lebda’s role as chairman of the board, the company said.

    Shares of Charlotte, North Carolina-based LendingTree fell more than 4 percent by afternoon trading on Monday.

    Lebda founded LendingTree in 1996 — to “simplify the loan shopping process” after experiencing his own frustrations when getting his first mortgage, LendingTree’s website notes. The platform launched nationally in 1998 and became a public company in 2000. It was later acquired by internet conglomerate IAC/InterActiveCorp, before spinning off on its own again in 2008.

    Today, LendingTree’s central online loaning marketplace helps users find and compare loans for mortgages, credit cards, insurance needs and more. LendingTree, Inc. also owns brands across the financial sector — including CompareCards and Value Penguin.

    In addition to his multiple-decade career at LendingTree, Lebda also co-founded a financial services platform for children and families called Tykoon in 2010. He previously worked as an auditor and consultant for PriceWaterhouseCoopers.

    “All of my ideas come from my own experiences and problems,” Lebda told The Wall Street Journal in a 2012 interview.

    Lebda is survived by his wife, Megan, and three daughters — Rachel, Abby and Sophia — LendingTree’s spokesperson told The Associated Press. In a statement, Megan Lebda said her husband “was an amazing man with a heart so big it seemed to have room for everyone he met.”

    “Our hearts are broken, but we are also deeply grateful for the love and support that has poured in from across the world,” she said — adding that his legacy will continue both at LendingTree and in “the lives he touched.”

    Associated Press

    Source link

  • Fractional or Full-Time Help? Growing a Business Requires Founders to Know the Difference

    Hiring a team can be daunting for many founders, especially when it’s their first company. It’s like leaving your toddler with a babysitter for the first time. Trust me, I get it. One mistake can be detrimental. If you bring in the wrong person to a team, it can derail any progress made and cost you thousands in the process. That’s why hiring fractional help can be of assistance.

    Think about it like testing before buying. But when should a company seek full-time help and when is it better to go with fractional hires? There are some important factors to consider. 

    How to tell if you need help 

    If any of the following are true, you’re overdue for a hire or more. These are just a few of the main pain points.   

    • You’re replying to customer support at midnight.   
    • You’re spending more time on spreadsheets than on strategy.  
    • Your to-do list seems to be never ending.   
    • You’re managing people and projects that should be done by someone else.  

    As a CEO, when you spend too much time on work outside of your expertise, you know support of some kind is necessary. Many CEOs get stuck in the doing—managing projects, overseeing tasks, and solving immediate problems. They may be the busiest people in the business, but unfortunately that often does not translate to revenue. Hiring experts to fill your gaps is the best way to grow sustainably.  

    A few years ago, a founder contracted me to help with declining profits and “hiring problems.” Within two weeks of discovery interviews, the real picture became clear. He was spending more than 80 hours a week managing his team members and completing tasks far below his pay grade. The interesting part is that he had a team to rely on, but he didn’t have the tools to succeed with the team.  

    Consequently, he had no time to grow the company. That was the real issue. I persuaded him to bring in a fractional chief of staff and that completely transformed his organization. The CEO’s mindset shifted from reactive to proactive, and two years later, he sold the company for $2 billion.   

    Fractional versus Full-time  

    You know you need help, but you’re unsure what type. If you don’t have enough work for someone to fill the role full time, but you need the help of an expert, fractional is the way to go.   

    When I first founded my company, I hired a fractional social media expert. I am a Baby Boomer, so it is the furthest thing from my expertise. Years later, when I had the funds and many more projects to delegate, I hired a social media manager full-time. Another reason to make a fractional hire is when you simply can’t afford full-time help. Expert fractional work won’t be cheap, but it will give you an expert for less money.   

    The long-term effect   

    A mistake I see many founders make is not hiring help soon enough. Although it requires investment early on, it saves a company money in the long run.   

    Imagine you attempt to do it all yourself for the first few years. You will save cash in the short term, but it will cost you in the slowed and possibly stagnant growth of your company. One person can’t effectively do the work of many people. Also, it’s 2025. Everything moves faster than ever before, and without the proper help, you can quickly have a disaster on your hands. Instead, make a small investment now to prevent turning into one of many organizations that operate reactively rather than proactively.   

    The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

    Carol Schultz

    Source link

  • Photos: An epic day in the ocean

    Surfing with a disability

    Allen J. Schaben

    Source link

  • This 35-year-old turned a local Indonesian coffee stall into a unicorn startup — today it brings in $100 million a year

    This 35-year-old turned a local Indonesian coffee stall into a unicorn startup — today it brings in $100 million a year

    In college, Edward Tirtanata had a brewing love for coffee, so much so that he’d order “one huge cup” every day from either Dunkin’ Donuts or 7-Eleven.

    Today, the 35-year-old CEO and co-founder of venture-backed unicorn coffee company Kopi Kenangan, still has his cup of joe daily — except that he’s upgraded it to three or more cups a day for “product testing” purposes.

    What started as a local Indonesian coffee stall in 2017 has now become an international coffee brand worth over $1 billion, with more than 800 locations across Southeast Asia.

    The company raked in over $100 million in sales in 2023, according to documents provided to CNBC Make It.

    Within the span of seven years, Kopi Kenangan went from a local Indonesian coffee stall to a venture-backed unicorn coffee company.

    Entrepreneur in the making

    Tirtanata grew up in the Indonesian capital of Jakarta.

    But he moved to the U.S. in 2007 when he started college at Northeastern University in Boston, where he studied finance and accounting.

    While he never enjoyed studying, he had the heart of an entrepreneur from the start.

    Edward Tirtanata with his parents.

    Courtesy of Edward Tirtanata

    “When I was a kid, I was definitely naughty — I didn’t really study much,” he told CNBC Make It. “But whenever there is an opportunity to make money or do businesses, I always [got] excited.”

    “It’s not about the money — it’s about the pleasure of doing it. It is something that really excites me until today,” he said.

    Even as a student, Tirtanata discovered a key business principle: “Buy low, sell high.” He learned to sell Pokémon cards and gaming bots to friends at school for a profit. It was almost instinctive for him.

    Inspired by his parents who were also entrepreneurs, Tirtanata always enjoyed the hustle of making his own in the world.

    Edward Tirtanata with his family.

    Courtesy of Edward Tirtanata

    During his freshman year in university, he received a fateful call from his mother, who revealed that his father’s business had encountered some major financial setbacks.

    After that call, Tirtanata decided to speed through his five-year program and finished it in three.

    He quickly returned to home Indonesia and became his father’s business partner.

    “Back then, my days were filled with a lot of stress and uncertainty — but I think this is one of those moments that made me a better entrepreneur,” said Tirtanata. Despite facing these financial difficulties with his family, Tirtanata went on to forge his own entrepreneurial path.

    Business beginnings

    Before starting Kopi Kenangan, Tirtanata opened a tea shop chain called Lewis & Carroll in 2015 with locations across Indonesia. By the time he opened his fifth store, he realized that the tea shop wasn’t as profitable as he expected.

    Tirtanata and his long-time friend James Prananto discovered the problem one day, when they were having a casual chat at his tea shop: many of the big coffee and tea chains in Indonesia were too expensive for the local population.

    According to the Starbucks Tall Latte Index, while a Starbucks tall latte costs approximately 2% of the median daily income of people in the U.S., that same drink costs more than 30% of the median daily income of people in Indonesia.

    Kopi Kenangan’s first outlet in Indonesia.

    Courtesy of Edward Tirtanata.

    The idea of Kopi Kenangan was born.

    In 2017, Tirtanata and Prananto together invested a total of $15,000 into their first grab-and-go location in Jakarta, Indonesia. This model allowed them to ditch the costs of renting and designing a sit-down cafe space, and instead, invest that money into quality ingredients. 

    “Instead of focusing on the sofa, or fast Wi-Fi, we’re going to focus on a good, high quality cup of coffee,” Tirtanata said.

    This decision helped Kopi Kenangan scale to over 200 locations and 10 cities within the first two years of operations.

    Kopi Kenangan’s secret formula

    It’s no secret that the coffee business is highly saturated, especially in big metro areas.

    Asked what has separated Kopi Kenangan from its competitors, Tirtanata said there are three major reasons: the company’s grab-and-go model, it is a tech-enabled business, and it takes a hyperlocal approach.

    “So while Starbucks and other global coffee chains really prioritize consistency, I realized that people have different tastes and preferences,” he told CNBC.

    “This is where we really shaped our strategy for our global expansion — we want to make sure that the sweetness and robustness of the coffee really suits the market that we are operating in, using a data-driven approach,” Tirtanata said.

    Taking a data-driven hyperlocal approach means that a Kopi Kenangan latte in Singapore will taste different from a latte in Indonesia.

    During Covid, Tirtanata and Prananto doubled down on their efforts to integrate technology into their business. This helped Kopi Kenangan more than triple its store count during the pandemic.

    From Indonesia to the world

    As of April, the coffee chain has raised over $230 million in funding from investors across the globe, according to documents seen by CNBC Make It.

    Tirtanata with the Kopi Kenangan team.

    Courtesy of Edward Tirtanata

    Today, Kopi Kenangan stores can be found in Indonesia, Malaysia and Singapore.

    But that’s not enough for Tirtanata, who plans to expand the company globally and hopes to list the business in the U.S. one day.

    “It only gets more complicated as a business grows bigger — so I try to learn everyday how to become a better leader,” he said.

    “I’m very excited [about] what the future holds for us. I believe that we are just [at] the beginning of our journey.”

    Want to make extra money outside of your day job? Sign up for CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. Register today and save 50% with discount code EARLYBIRD.

    Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life.

    Source link

  • Bongo Room Co-Founder John Latino Helped Define Chicago’s Brunch Culture

    Bongo Room Co-Founder John Latino Helped Define Chicago’s Brunch Culture


    John Latino, the chef and founder of the Bongo Room, the Wicker Park restaurant that helped usher in the phenomenon of brunch in Chicago, has died.

    A South Side native, Latino opened the original Bongo Room in 1993 with longtime friend and business partner Derrick Robles in Wicker Park. The duo earned legions of fans over their 30-year partnership, attracting admirers and imitators with a joyful take that raised the bar on breakfast and brunch all over town.

    The 58-year-old Latino died suddenly of natural causes on Thursday, January 11 in Chicago, Robles says.

    “John really spoke with his food,” Robles says. “He was a quiet man, shy most of the time… We never really sought out recognition, we just kind of kept our nose to the grindstone and blinders on to focus on the restaurant, letting John’s food and our service speak for itself.”

    They would move from the original Damen Avenue location four years after opening. Long weekend brunch lines would regularly stretch onto the sidewalk of Milwaukee Avenue outside the current location in Wicker Park with customers indulging in specialty pancakes and other items. While chefs famously hate brunch, Bongo Room embraced it and customers woke up early to get on the waitlist. Bongo Room is hailed as one of the restaurants that turned Wicker Park into a brunch village. Bongo Room also provides a haven for weekday breakfast for neighborhood locals.

    Derrick Robles (left) and John Latino (right) founded Bongo Room in 1993.
    Derrick Robles

    Robles, who grew up in Beverly, met Latino in 1992 when they worked together at Gold Coast’s famed Pump Room, but the men had crossed paths before. Robles recalls first seeing Latino in 1988 across the room at now-shuttered LGBTQ nightclub icon Berlin. “He was kind of goth back then, he wore kilts and combat boots and had his hair spiked up 10 inches high,” Robles says.

    While Robles was growing weary of hospitality, Latino, then a student at Kendall College, always wanted to open a restaurant. That dream became a reality faster than they anticipated when a friend of Latino wanted to get out of a lease at 1560 N. Damen Avenue, the present site of Stan’s Donuts. That’s where Robles and Latino debuted their first location. After struggling the first year and a half with operations, challenges that Robles says contributed to the end of their romantic relationship, Latino developed a series of dishes that would become the restaurant’s signature, like fluffy lemon ricotta pancakes and banana bread French toast.

    Derrick Robles and John Latino pose on the patio at Bongo Room.

    Robles and Latino were best friends and business partners for three decades.
    Derrick Robles

    1994 was a red-letter year for Bongo Room thanks to rockstar Liz Phair, a Chicagoan who recorded her debut album Exile in Guyville at nearby Idful Music studio. Phair (also a former regular at indie rock dive Rainbo Club) met a reporter for an interview in Rolling Stone over Latino’s blueberry pancakes, and the restaurant snagged a mention in the article.

    Longtime friend Margaret MacKay held several positions at Bongo Room in the late ‘90s and says the restaurant’s popularity never went to Latino’s head. “He was a perfectionist,” she says. “He wanted to touch every plate [because] every plate had meaning to him. He felt like it was a reflection on him and [Robles].”

    During the early years of Bongo Room, Chicago businesses generally didn’t advertise their LGBTQ ownership. While the restaurant was never awash in rainbow flags, Robles says they never hid who they were. He credits that to the accepting atmosphere of Wicker Park at the time, then an artist enclave where “everyone could be who they wanted to be and live without judgment,” relative to other parts of the city.

    Latino and Robles sought out a larger space and in 1997 relocated to 1470 N. Milwaukee Avenue. Six years later, they opened a South Loop location (it closed in 2019) and expanded in 2012 to Andersonville. Since 2020, however, the business has struggled, says Robles.

    As he grieves for Latino, he is unsure of what the future holds for Bongo Room. Weekend business has returned to about 80 percent of pre-pandemic levels, but weekday numbers remain dramatically reduced.

    “[His] passing, on a personal level, has been so incredibly devastating and soul-crushing for me,” Robles says. “For me, it’s kind of like losing my left arm and I don’t know how to envision staying open without him…. it’s knowing there will never be another John Latino spring or fall menu — that was a rude awakening. It was a jolt, that it won’t happen again.”

    News of Latino’s death spread quickly among the extended Bongo Room community, with friends and former employees across the country reconnecting to share memories from years past. MacKay remembers Latino’s affectionate, kind demeanor, as well as his apparent inability to say a bad word about anyone, including the most difficult patrons.

    “I’d like for people to think that about me, but it really was the case with [Latino],” MacKay says. “He was always just lighthearted to be around, loving, like a unicorn. To me, he was one of a kind.”

    Robles agrees. “In the restaurant business, you can come across some pretty challenging customers, and we did throughout the past three decades,” he says. “But John never had an unkind word for anybody… He’d do anything for the people he loved. It wasn’t easy to get into John’s circle, but once you were in, you were in for life.”

    Funeral services were held on Wednesday, January 17 at Lawn Funeral Home in Tinley Park.



    Naomi Waxman

    Source link

  • People said her business idea wouldn’t work — but it’s now a blooming beauty empire

    People said her business idea wouldn’t work — but it’s now a blooming beauty empire

    When Trinny Woodall founded her skincare and makeup company Trinny London in 2017, she was often met with skepticism. But since then, she has turned it into a successful business, seeing a sales boom during the coronavirus pandemic.

    Trinny London products include makeup in a wide range of shades, colors and coverage intensity, as well as skincare tailored to specific skin types and issues. An online tool helps customers pick the right products that suit them and support their skin in the best way.

    Speaking to CNBC’s Tania Bryer last month, Woodall explained that she believes being an online business helped her when the coronavirus pandemic hit.

    “We did triple, quadruple the business during lockdown,” she explained, adding that before then, growth had been more steady.

    “It was a pivotal moment,” she said. Before the pandemic, most beauty brands focused on selling their products in person, making it harder for them to adapt to selling online as they had less of a presence there, Woodall noted.

    Building a brand

    But it’s not just about the product — making sure it reaches the right people is also crucial, Woodall suggested.

    “Building a business in today’s world in the industry I’m in is about heralding a community of women and talking in a language they understand,” she said.

    One of the ways Woodall has done this is through social media, both through her own and Trinny London’s accounts and online Trinny London community groups, known as “Trinny Tribes.”

    “Social media allows you to be honest and candid and bring people on a journey,” she explained.

    Now, being genuine and realistic online is a key part of Trinny London’s brand and marketing strategy. This means talking about products in an unfiltered, accessible way and making sure the message matches the customer — rather than using a 20-year-old model to sell products to 35-year-olds, Woodall explained.

    “We want realism, we also want aspiration. And the balance between realism and aspiration is really crucial,” she added.

    The financial side

    Another key part in building Trinny London was securing investors to fund the business. Data from research firm Pitchbook shows a valuation of $22.19 million in July 2018, with its most recent deal size at $36.1 million in July 2021. Forbes reported that the valuation had hit $250 million in early 2021. Data from research firm Dealroom shows the firm booked £59.8 million ($74 million) of revenue in 2021.

    But marketing a female focused brand to predominantly male VCs wasn’t always easy, Woodall said.

    For example, many of them would bring in their assistants or secretaries and ask them if they would buy the product, she said. Others would tell her that women in their 30s and 40s would never buy from an online focused brand, and she should target younger women instead — but eventually Woodall was successful.

    “How we tell the story of what we want to build is crucial as female founders,” she told CNBC, adding that she learned to tell her story in a way that meant “people could hear what I wanted them to hear.”

    She knew all the key figures and her vision inside out, she explained, but sometimes she needed to take it step by step to help others understand it in the same way.

    “I wanted to bring someone in on the whole idea and sometimes you need to do chunk pieces,” Woodall said. “People can follow how you’re going to do it and then they don’t feel ‘I’m lost in this execution’,” she added.

    Her biggest piece of advice for female founders however isn’t about the money, or the product. It’s about staying focused on your idea and your goals.

    “If you’ve got an idea and you go out there you need to stick to your own lane,” Woodall said, adding that paying too much attention to what others are doing can be a hinderance.

    “It takes away your sense of your vision and your belief in your doing what you know and you’ve woken up every morning thinking ‘I love’,” she concluded.

    Source link