Effectual Entrepreneurship, Third Edition

           

          Practically Speaking

          Stacy’s Pita Chips

          This food business was built on literally thin resources without external funding and turned it into serious dough.

          Entrepreneur: Stacy Madison

          Entity: Stacy’s Pita Chips

          Country: USA

          Pages 207-218 in

          Chapter 13 Using Slack for Bootstrap Financing (pp. 207-218)

          "Who I am, what I know, who I know
          The year is 1996. Stacy and Mark are a couple, living in Boston. Mark is a psychologist and Stacy a social worker. They both have experience in the Californian food industry, having worked in restaurants. They know trends in the US often move from west to east They believe Boston might soon acquire an appetite for Californian style food. They are strong believers in the healthy diets they experienced in the West They know they want to be their own boss. Together they have debt of US$370,000. Mark and Stacy are attracted to the food/restaurant business. Ideally, they would like to start a healthy bistro, but that dream is squelched by their debt and the lack of enthusiasm by their immediate family to support the venture. So they start selling sausages and hot dogs from a pushcart in the streets of Boston. It isn't exactly the healthy diet they had in mind, but it is a profitable and cash positive living.
          What should they do next?"

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