Category Archives: Case Studies

This Guy Sold His Startup for $575 Million in Cash — And Gets to Keep Every Penny | Entrepreneur

On Tuesday, the dating website Plenty of Fish got acquired by Match Group, an IAC/InterActive subsidiary that recently announced plans to go public later this year. Plenty of Fish sold to Match Group for $575 million in cash.

Markus Frind, 36, is the founder and CEO of the Vancouver-based Plenty of Fish.

Frind told Business Insider he started Plenty of Fish in 2003 “as a way to improve my résumé.”

“At the time there was a new programming language called ASP.NET, and I don’t like reading books, so I just went and created the site in two weeks, and then people started signing up, much to my surprise,” he said. “And it blew up from there. It wasn’t like I had a plan to create a dating site. It was just a side project I created that got really big.”

Frind, who was a developer before he founded Plenty of Fish, built the site without any venture-capital funding. He has retained complete ownership of the company, which has 75 employees.

“By the time I found out what VCs were, I was already making millions in profit, and I didn’t see the need to raise money because I wouldn’t know what to do with it,” he told Business Insider. “It was a profitable company, and there was no need to raise money.”

Read More.

How one Italian restaurant stands out in New York City | Mashable

It’s hard not to feel like you’re part of the warm and caring Italian family when you walk through the doors at West 56th street in New York City. Sal Scognomillo, the current head chef at Patsy’s Italian Restaurant is a jovial, sweet man who exudes a genuine contentment with life — hard to find in the city, where so many appear beaten down by how difficult it is to make it here.

Patsy’s Italian Restaurant has been around since 1944, when Pasquale Scognamillo opened up the location in Midtown. Since then, four generations of the family have worked in the kitchen preparing the food, and front of the house greeting guests and answering the phone. What really separates Patsy’s Italian Restaurant from the thousands of other restaurants in New York City is they make everyone who walks through the door feel like family.

Read More.

This Amazing Story of Courage and Leadership Stayed Secret for 50 Years | Inc

getty_458098480_970627970450096_60347Early in his career, Sir Nicholas Winton was a stockbroker; in later years, he worked for international relief organizations and other charities. But for 50 years, nobody knew his greatest achievement and contribution to humanity.

We often celebrate entrepreneurs for being dynamic business leaders. That’s a good thing, but entrepreneurship itself doesn’t necessarily have anything to do with making money. A professor at Harvard Business School put it best: it’s about the “pursuit of opportunity without regard to resources currently controlled.”

That’s why I’ve insisted that the best book about entrepreneurship has absolutely nothing to do with making money, and it’s why we can look at people who start nonprofits, or who assemble teams to accomplish amazing goals that have nothing to do with business–and call them great entrepreneurs.

Nicholas Winton was a truly great entrepreneur.

Read More.

Case Study: The Music Lovers | Peter Mehit

imagesEverything that follows actually happened. I’ve changed the circumstances and identity of the people involved significantly, but the gist of the story is true. It’s at once proof of the old adage, ‘The truth will out’.

Sara and Tom have been friends since they worked on a successful advertising campaign for a major spirits producer. In their ten years as friends they’ve shared a lot: Holiday gatherings, the breakup of Tom’s marriage and their dreams of opening a music venue. Sara’s husband Bill was also good friends with Tom and supported their idea of opening the night club, up to the point pledging property he and Sara owned free and clear in San Francisco to secure start up money.

Because of their connections in the advertising and corporate worlds, Tom and Sara knew a lot of inside stuff. For example, they found out that a coastal city was pouring millions into a waterside development and had attracted several X Games type events to the area to take place in about two years time. Knowing this, the pair secured a lease on a large space in the heart of the development, negotiating a six month delay in rent payments.

Continue reading

Reinventing The Pizza | Forbes

pizza-studio-Robert-Gallagher-_1200x675Who is crazy enough to start yet another pizza chain? Especially after ambitious chefs have piled on every conceivable topping (peanut butter and jelly, kangaroo meat), injected cheese into every last nook and cranny of dough and committed unholy cross-branding (Pizza Hut’s Doritos crust)? Samit Varma, 38, and Ron Biskin, 62–that’s who.

The odd-couple cofounders and co-CEOs of Pizza Studio of Calabasas, Calif. have brought together Varma’s experience in the military and startup world and Biskin’s long history in fast-casual restaurants to create something fresh. They’re adapting the quick and made-to-order model, championed by Chipotle and Subway , to pizza. “It’s all about execution,” Varma says.

Read More.

Megan Hyman – Overcoming Challenges – Pawfection | CBPS

Our client, Megan Hyman, opened her dog daycare, grooming and boarding facility in 2013. She took a huge bet on herself in which she wagered an inheritance to pursue her desire for a new future.  Nearly two years in, she’s winning, but not without some serious challenges that we went through together.

In this video she discusses the difficulty of finding the right location and how she got out of her own way to fill her business with enthusiastic clients.

Here’s How One New College Grad Made $66,000 In One Month–Without A Full-Time Job | Forbes

After his junior year at Brigham Young University, Nick Walter, now 25, landed a great summer internship in the Seattle office of Pariveda Solutions, a Dallas-based tech consulting firm. Though he enjoyed the work and liked his clients and colleagues, he felt stifled. Used to jeans and t-shirts, he didn’t like wearing khakis and polo shirts and most of all, he says, “I hated that I had to be at this office every day for X amount of time doing what they said I had to do.”

So instead of heading down the career track he’d always expected of himself—he’d envisioned the security of a steady paycheck and benefits—he decided to go to BYU part-time for the next two years, while hiring himself out as a consultant and developing his own apps for the iPhone including seven how-two apps he wrote with a friend. One of them, called simply Weight Lifting Videos, has helped net $1,200 a month.Then he stumbled on a more lucrative possibility.

Read More.