Roxanne Quimby
Roxanne Quimby 1. Why is Roxanne Quimby successful?
Roxanne is successful because she saw an opportunity to create something and went for it. She was persistent and dedicated to selling Burt’s Bees products. She was a hard-worker, putting in 20-hour workdays. Her moneymaking skills helped her and her two children to survive. She has always felt that she was entrepreneurial because she was always in control. Roxanne’s traits of being so debt-averse and cash aware helped drive the company to success, not having to rely on retailers that don’t pay their bills within the 30 day limit. The company was completely debt-free, Roxanne never had a credit card, and they never took out a loan. She found a partner that was “on the same wavelength” as her who was more risk-averse than she was and had great ideas. Their partnership helped to grow Burt’s Bees.
2. Life Style vs. High Potential Venture. Your opinion on this?
I think this is a high potential venture, especially with the number of people looking for more natural products. The increase in consumers who are more aware of what they eat, where they shop, and the ingredients that are in the products have increased exponentially. So, actually, this product caters to lifestyle as well. The venture has numerous possibilities and the product lines that could be created are endless.
3. Location Issues. Maine Vs. North Carolina. Please list advantages and disadvantages.
Maine (Advantages) * The business existed in the minds of the Maine employees; everyone had a mark on the process * Cheap labour ($5 wages for the 44 employees – all Welfare Moms) * Cheap land ($100/acre) * Cheap rent for the schoolhouse (production plant) - $150 for the year (that was just for the fire insurance) * Very few expenses * No phone line – so they were able to convince the local health food store to take messages for their orders
Maine (Disadvantages) * High Transport Costs (its
Roxanne is successful because she saw an opportunity to create something and went for it. She was persistent and dedicated to selling Burt’s Bees products. She was a hard-worker, putting in 20-hour workdays. Her moneymaking skills helped her and her two children to survive. She has always felt that she was entrepreneurial because she was always in control. Roxanne’s traits of being so debt-averse and cash aware helped drive the company to success, not having to rely on retailers that don’t pay their bills within the 30 day limit. The company was completely debt-free, Roxanne never had a credit card, and they never took out a loan. She found a partner that was “on the same wavelength” as her who was more risk-averse than she was and had great ideas. Their partnership helped to grow Burt’s Bees.
2. Life Style vs. High Potential Venture. Your opinion on this?
I think this is a high potential venture, especially with the number of people looking for more natural products. The increase in consumers who are more aware of what they eat, where they shop, and the ingredients that are in the products have increased exponentially. So, actually, this product caters to lifestyle as well. The venture has numerous possibilities and the product lines that could be created are endless.
3. Location Issues. Maine Vs. North Carolina. Please list advantages and disadvantages.
Maine (Advantages) * The business existed in the minds of the Maine employees; everyone had a mark on the process * Cheap labour ($5 wages for the 44 employees – all Welfare Moms) * Cheap land ($100/acre) * Cheap rent for the schoolhouse (production plant) - $150 for the year (that was just for the fire insurance) * Very few expenses * No phone line – so they were able to convince the local health food store to take messages for their orders
Maine (Disadvantages) * High Transport Costs (its