What inspired Hamdi to start Chobani?

[Astronuc]

A former classmate of mine had a senior management position with one of the Fortune 100 companies, but he left it for a small startup company.

I thought it appropriate to start a thread on Entrepreneurship.

An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources. When the market value generated by this new combination of resources is greater than the market value these resources can generate elsewhere individually or in some other combination, the entrepreneur makes a profit. An entrepreneur who takes the resources necessary to produce a pair of jeans that can be sold for thirty dollars and instead turns them into a denim backpack that sells for fifty dollars will earn a profit by increasing the value those resources create. This comparison is possible because in competitive resource markets, an entrepreneur’s costs of production are determined by the prices required to bid the necessary resources away from alternative uses. Those prices will be equal to the value that the resources could create in their next-best alternate uses. Because the price of purchasing resources measures this opportunity cost— the value of the forgone alternatives—the profit entrepreneurs make reflects the amount by which they have increased the value generated by the resources under their control.

http://www.econlib.org/library/Enc/Entrepreneurship.html

http://en.wikipedia.org/wiki/Entrepreneurship

http://www.entrepreneurship.gov/

http://www.kauffman.org/

http://entrepreneurship.mit.edu/


Which brings me to - IdeaLab.
http://www.idealab.com/about_idealab/

Bill Gross started Idealab in 1996 to create and operate pioneering technology companies. The structure of Idealab has allowed us to test many ideas at once and turn the best of them into companies, attracting the human and financial capital necessary to bring them to market.

. . . .

Idealab continues to explore a range of technology frontiers. New models for improving the search experience are at the core of several companies currently growing inside of Idealab. Moving beyond the Internet, we have spawned companies with breakthrough technologies in robotics (Evolution Robotics), three-dimensional printing (Desktop Factory) and renewable energy (Energy Innovations), among others. Idealab also continues to partner with leading venture capital firms and other strategic investors to provide the resources to maximize the potential of these companies.

In addition to capital, Idealab provides a full range of resources to infuse start-ups with the support they need to rapidly introduce innovative products and services. Resources include office space and the accompanying office services, development and technology, product and graphic design, marketing, financial advice, human resources, competitive research, legal, accounting and business development support and services. In addition, Idealab provides advice on strategy, branding and corporate structure.

Additional startup support comes from other companies and institutions like Google or VC companies.


Small companies and entrepreneurs drive the economy.

 

[Astronuc]

This thread kind of went nowhere fast.

Since the OP more than two years ago, the economy went into a tailspin.

Anyway, for those interested in owning or participating in a small business, or thoughts of growing a small business, this might be of interest -

Tough Options for Family Business in a Tailspin
http://www.nytimes.com/2011/01/13/business/smallbusinessemail/13sbiz.html

See also - Matthew Stewart's “http://books.google.com/books?id=JxFYFlVekkEC&printsec=frontcover&source=gbs_ge_summary_r#v=onepage&q&f=false ”.

And see - Simon Sinek: How great leaders inspire action
http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html

 

[chiro]

This thread kind of went nowhere fast.

Since the OP more than two years ago, the economy went into a tailspin.

Anyway, for those interested in owning or participating in a small business, or thoughts of growing a small business, this might be of interest -

Tough Options for Family Business in a Tailspin
http://www.nytimes.com/2011/01/13/business/smallbusinessemail/13sbiz.html

See also - Matthew Stewart's “http://books.google.com/books?id=JxFYFlVekkEC&printsec=frontcover&source=gbs_ge_summary_r#v=onepage&q&f=false ”.

And see - Simon Sinek: How great leaders inspire action
http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html

One good thing about entrepreneurship is that entrepreneurs take a very active role in becoming employed. When you work for someone and it hits the fan, you can be easily be laid off, but if you have a successful business, you have the skills to redirect your business in a given direction to bring new opportunities and revenue in.

The responsibility is of course a hell of a lot higher, but in any economy the entrepreneur if successful for a decent amount of time, will be far more experienced to find opportunities to get out of a bad situation and into a new one than any employee.

 

[WhoWee]

This thread kind of went nowhere fast.

Since the OP more than two years ago, the economy went into a tailspin.

Anyway, for those interested in owning or participating in a small business, or thoughts of growing a small business, this might be of interest -

Tough Options for Family Business in a Tailspin
http://www.nytimes.com/2011/01/13/business/smallbusinessemail/13sbiz.html

See also - Matthew Stewart's “http://books.google.com/books?id=JxFYFlVekkEC&printsec=frontcover&source=gbs_ge_summary_r#v=onepage&q&f=false ”.

And see - Simon Sinek: How great leaders inspire action
http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html

I've been associated with dozens of small business ventures, many of them start-ups, since 1980. To me, the difference between 2011 and 1981 is I didn't know how bad things were in 1981 - and really didn't care. I was young, (considered myself) capitalized:rofl:, and fearless. Now, I'm sitting on the sidelines waiting for something (not sure what?) to happen.

My advice to anyone with a great idea - find an investor that agrees and also has enough capital to fund every level of your business plan. If you find that investor - and your business plan is solid - you can give up 80% of your deal and never worry about money again.

 

[Astronuc]

My advice to anyone with a great idea - find an investor that agrees and also has enough capital to fund every level of your business plan. If you find that investor - and your business plan is solid - you can give up 80% of your deal and never worry about money again.

That's one way - but look at what happened to Len Bosack and Sandy Lerner, founders of Cisco.

I'd like to focus on successes more than failures, although understanding why companies failed is helpful if folks learn to avoid the same mistakes.

 

[WhoWee]

Starting a business is always risky - even under the most favorable conditions. The three required basic components are usually capital, management, and concept. Each of these components are then further described by the type of business, Government regulations, competitive forces, and other market factors.

In the US the playing field is considered level for most industries - there are exceptions. If establishing a business outside of the US, it is usually wise to seek local expertise.

After observing the unrest in Egypt and elsewhere lately - I have to wonder how someone makes a decision to start a business in the midst of so much uncertainty?

 

[Astronuc]

Christine Outram
creative director | re:imagine group
founder | city innovation group

http://christineoutramadvance.weebly.com/christine-outram.html

Christine Outram (Advanced Manufacturing) relocated to America to complete her second masters degree, while working as a research associate at MIT. In the US, Christine led the project ‘The Copenhagen Wheel’ - the creation of a wheel that turns ordinary bikes into electric hybrids with regeneration and real-time environmental sensing capabilities. She presented this project at the UN Climate Conference and has won a number of awards including: the Internet of Things 'Top 100 Thinkers' 2012, the 2010 James Dyson Industrial Design Award and the 2010 World Technology Award.

 

[Astronuc]

Sir Richard Branson On Entrepreneurship

 

[Astronuc]

Chobani Yogurt -

How we got started
While tidying up his desk back in 2005, our Founder and CEO, Hamdi Ulukaya, stumbled upon a classified ad for a yogurt plant recently closed down by Kraft. After initially throwing the ad away, Hamdi listened to his gut, fished it out of the trash and went to see it that day. He decided to buy the plant on the spot, and went to work on perfecting the recipe for Chobani based on his belief that everyone, regardless of income or location, deserved access to delicious, high-quality yogurt. The first cup of CHO finally hit shelves 18 months later and has since grown to become America’s #1 yogurt.