Who needs months of planning to start a business? According to Vindy.com, not Maria Elena Ibanez. The decision to start Intermark Foods even came to her quickly, on a Saturday while she was at the beauty parlor.
Ibanez had already built two successful international computer distribution companies, selling the second one just before the tech bubble burst. So in 2002, after failing at her second try at retirement – she was bored – Ibanez knew she wanted to start a low-tech company where her tech skills would be a competitive advantage. Her goal: to compete on authenticity and quality, not price.
The fragmented domestic Hispanic food industry, with its promising growth potential, was a logical choice.
That was it. No business plan in the beginning; no extensive research. Though this may not be the best route for every entrepreneur, Ibanez has always launched her companies quickly, spurred on by belief in herself and her nose for opportunity.
Ibanez launched her brand, El Latino, with just four cheeses, and the first year she brought in $1 million in sales.
Now she carries 256 products. Though the industry has been growing on average 8 percent to 9 percent annually, Ibanez’s revenues have been zipping along at 30 percent year over year, she said.
Photo by soundfromwayout