Effectual Entrepreneurship, Third Edition

 

Practically Speaking

Gardener’s Eden: Is a Cost Always a Cost?

Partnering with suppliers enabled this entrepreneur to make her limited start-up capital go more than four times further.

Entrepreneur: Ruth Owades 

Entity: Gardener’s Eden

Country: USA

Pages 248-250 in

Chapter 15 Asking Potential Partners to Make Commitments (pp. 239 to 256)

"As an executive at diversified mail order retailer Avion Group, Ruth Owades saw an opportunity in the amateur horticulturalist segment, a group that was easy to reach, was extremely loyal if well served, and, most important, had a pressing need: these consumers did not have easy access to specialty gardening equipment.
Ruth proposed the idea of building a mail order business around this need to executives at Avion, but they had no interest. Her next step was to ask if she could develop it on her own. Surprisingly, they agreed.
After a brief investigation, Ruth, who had never worked outside the comfortable confines of the corporate world, discovered that investment money for an unproven entrepreneur with an unproven idea was not exactly forthcoming. Ruth's best offer came from a group of four private investors, who were asking for 49% of the company and would require Ruth to provide 25% of the money for the venture from her own bank account. Determined to make it work without the investors' money, she plunged into business, naming her venture Gardener's Eden.

"

Under Construction: Join Us in Co-Creation!

Bamboo - Share & Visit Again

Something Missing? Something to Share?

Is something missing or incorrect? Do you have content to share? We'd love to hear from you!

Please share your name, email address, the venture/entrepreneur concerned, and your comments in the form below.

We'll get back to you as soon as possible.

Close menu