Wayne Beckley had some modest success as an entrepreneur, but nothing like the time he's had selling skin-care products. Merlot Skin Care is now in its 10th year. He'd heard about the power of anti oxidants consumed in red wine so he did some research and became convinced they could help the skin in topical form as well. He mixed the first batches in his own kitchen then used his garage as a warehouse to ship them out commercially. Soon his local Walgreen's was selling them and now he's selling $12 million dollars worth of Merlot Skin Care products each year.
Corbin Church has created a powerhouse out of Miche Bags, started by a young housewife, Michelle Romero, who didn't want to toss out a new pocket book after she spilled her lunch on it. Instead she removed the outside of the pocketbook and replaced it with a new design. Now, Miche Bags sells about 40 different magnetically attached designs at a time, mostly through house parties (think Tupperware or Avon) and totaling more than $55 million in sales in 2010.
Entrepreneur Wayne Beckley heard about the power of anti oxidants in red wine and was convinced they could help the skin in topical form. The multi-million dollar Merlot Skin Care line began in his own kitchen.
Two friends max out their credit cards to fund their new business making eco-friendly cleaning products packaged in beautifully designed containers. Today, Method revenues top $100 million.
Corbin Church has created a powerhouse out of Miche Bag, started by a young housewife, Michelle Romero, who saved a soiled handbag by replacing the outside with a new design. Today Miche sells more than 40 outer shells for their popular bags.
In 1989, Tom Schlafly and Dan Kopman wanted to make their own beer and start a brewpub. Today Schlafly Beer produces 36,000 barrels of beer a year and boasts sales of more than $13 million.
If you talk to any entrepreneur or inventor they’ll tell you that they’re constantly coming up with ideas for new products. Here are four steps that the founder and CEO of Merlot Skin Care says to follow to develop an idea into a new product.
Providing instant analysis to Google's quarterly numbers, with Victor Anthony, Topeka Capital Markets; Andrew Stoltmann of Stoltmann Law Offices; CNBC contributor Michael Yoshikami; "Fast Money" trader Tim Seymour; CNBC's Michelle Caruso-Cabrera and Dominic Chu.
Wednesday, 16 Apr 2014 | 12:35 PM ET
Intel CEO Brian Krzanich discusses some signs of stability in enterprise in the mature markets, and whether the emerging markets area steadying as well.
Wednesday, 16 Apr 2014 | 11:56 AM ET
Art Cashin, UBS director of floor operations, explains what played into yesterday's market reversal and tells what sectors are back in favor today.