Business Opportunities Weblog

April 7, 2008 by Nicholas | 4 Comments

MomInventors:

In 2004, 52-year old Sandy Stein faced the prospect of unemployment after 32 years in the airline industry. At the same time, her husband’s job was at risk, as well. Sandy knew she had to re-invent her life to guarantee a future income for her family, including their 10-year old son, Alex. Her invention, Finders Key Purse, started as a dream – literally. One morning she awoke with the product idea, and two and half years later she’s managed to turn that dream into a multi-million dollar business. Here is her story.

Why did you start your company – and when?
About 2 years ago, I came to the realization that my husband, who was 53 at the time, was probably going to lose his job as a consultant in the souvenir gift industry. I had been a flight attendant for 32 years and knew that my job, too, was in jeopardy – the airline industry was having (and still is) terribly rough times. It was imperative that both my husband and I be gainfully employed so that we could provide for our son.

Was there anyone who said you couldn’t / shouldn’t do this?
Steve introduced me to one of his mentors – a multi-millionaire – who had owned several gift companies. He told me he liked the FKP, but was certain that it could never do much in the marketplace, because it was just one item – and no one would want to sell one item. He suggested that I sell the idea to another company and forget doing it myself. I got a second opinion from another similar source, who had the same advice. They both said that I could not succeed with a company that sold just one item.

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Tags: Entrepreneurial Lifestyle