7 Million Dollar Business Ideas
Bangalore: “Best start-ups generally come from somebody needing to scratch an itch” says Michael Arrington, TechCrunch founder and co-editor. A common thread running through all successful start-ups is that they tried to provide a genuine solution to a long standing problem faced by a huge number of people, which was not addressed by anyone before or not addressed adequately. Beside recognizing a potential start-up idea and trapping the gap in the market, the successful start-up builders have a clear vision, exceptional fund raising skills, capacity to adapt changes and perseverance. Let’s have a look at 7 business ideas that perfected these qualities and earned millions of dollars.
My Pillow Pets
Founder: Jennifer Telfer
The chores of motherhood ignited the sparkling idea for Pillow Pets. Jennifer Telfer, a mother of two found her young sons using their stuffed toys as pillows, spoiling the toys completely. So she thought of a stuffed animal with dual purposes: serving as pillow when required and serving as a toy at other times. She designed a stuffed pet made with a high quality, super soft chenille fabric and a strap underneath that transforms it to a toy or a pillow. Telfer sold the first set of pillow pets in the Christmas season in 2003. These became widely popular after a series of TV advertisements. At the end of 2009, the gross sales were recorded to be$7,000.000.
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