SlideShare a Scribd company logo
Entrepreneurial Interview
Dane Wilt                                 Entrepreneurial Interview                              March 4, 2013




Ruby Inc.
Objective
        This paper was written to help potential business owners understand what it takes to become a

successful entrepreneur. It will focus on key characteristics, business operations, and tips on becoming

successful. My goal is that it will help potential entrepreneurs understand that though you’re in business to

make money, it is also important to take a societal conscious approach and ensure that your business benefits

the community as a whole.



Summary
        Jasmine Grimm, founder of Ruby Inc. is much more modest about her accomplishments then most

would suspect. Even after recently being nominated for Inc. Magazine's “Top 30 Under 30, America's

Coolest Young Entrepreneurs”, placing on Central Penn Business Journal's “Top 25 Women of Influence”,

and receiving the 2013 SCORE Business Development Award. For most of us, just one of these honors

would be humbling…but to Jasmine, it’s just business as usual.


        Jasmine came up with the idea for Ruby Inc. while attending Syracuse Universities EBV Program

(Entrepreneurship Boot Camp for Veterans with Disabilities). The program is designed to work at a high

speed allowing participants to gain the tools needed to start and manage their own small business. While

attending she needed to come up with her own creative business idea to sell to a group of venture capitalists

at the end of the week. She always had an eye for fashion, and at the suggestion of her husband, used that

background to formulate a business that would benefit many women. Simply put, teach women how to dress

for their body type. From helping customers choose properly fitting clothes, to helping them develop a

fashion sense, and even assisting them with accessorizing, Jasmine’s business plan covered it all. The

concept went over remarkably, and when she returned to Lancaster, Pennsylvania Ruby Inc. was born.




                                                                                                                 1
Dane Wilt                                   Entrepreneurial Interview                             March 4, 2013


        Ruby, Inc.’s mission is: “To inspire women that their worth is far above rubies and the company

addresses specific needs for women in three niches including color analysis, fit, and personal style.” During

her first year in business Ruby Inc. was able to break even, which is very rare for a first time business owner.

She also decided to become an LLC and is considered to be non-profit as she took a very society conscious

approach to her business and donates 10% of her revenue to charity. Jasmine still does this, and hopes that

someday Ruby Inc. will be successful enough that she can keep 10%, and donate the other 90%.



Marketing
        Many great business concepts have failed because their owners had no concept as to who they were

marketing to. This is not an issue for Ruby Inc., as they have a very clear picture of who their customers are.

Jasmine has broken her demographic down into three key categories:


    1) Fast Trackers-Women who are college graduates, generally in their late 20’s to early 30’s. These

        women can be married or single, but regardless live a very busy life style.

    2) Successful Multi-Taskers-Women who are college graduates that make at least $50,000 a year. They

        live a busy, often hectic life balancing family, work, and social lives. These women can be any age,

        but generally late 30’s into early 40’s.

    3) Fulfilled Empty Nesters-Women who have aged very gracefully. Most have reached or are quickly

        approaching retirement, make over $50,000 a year, and have a strong desire to remain fashionable

        during their “golden years”.


    To reach these three key demographics, Jasmine utilizes several advertising methods. Social media is

critical for her business. You can find Ruby Inc. on Facebook, Twitter, LinkedIn, and even her webpage is an

interactive blog. She also utilizes YouTube creating E-how videos to help promote her business and inform

consumers. She also appears on podcasts and wants to begin advertising on local radio stations. In addition

to that she appears in multiple magazines, has accepted many awards, and often does public speaking events.

Her two biggest promotional tools are simple, but often over looked by other companies. Word of mouth is

critical in her industry. It’s free and reaches all members of her demographic with no additional cost to her.



                                                                                                                   2
Dane Wilt                                  Entrepreneurial Interview                               March 4, 2013


She is also a true philanthropist, stressing many times during our interview “just help people”. She works

closely with many non-profits, donates 10% of her total revenue, and is always quick to volunteer a helping

hand within the community. Though she does these things because she feels it is the responsible thing to do,

it also greatly benefits her through the notoriety Ruby Inc. receives.


     Though her market is relatively narrow, she does have some key competitors. Stacy London of “What

Not to Wear” competes with her on a much more national level. But, locally she has a very similar

competitor in Style Wise. To a lesser extent she has to deal with Nordstrom’s who offer styling advice for

free, provided you purchase from them. Many places in local malls offer fittings, but these locations generally

don’t offer the style advice expertise that Jasmine does. However, her biggest competitors of all are women

who are “Do-It-Yourselfers”. This can be problematic because though there are a large number of women

out there who have the ability to style themselves, there are an equal amount of women who try and greatly

fail at self-styling.


     Jasmine’s long term marketing goals are to continue her “controlled growth” model, simply put don’t

grow beyond your means. In time her hope is this will create a self-sustaining non-profit, that would allow

her to continue to foster goodwill for Ruby Inc. within the community. Her hope is someday to be

successful enough she can start another non-profit company. Her vision is to create a place where disabled

veterans can come and help train their own service dogs.



Management
          It is often hard for Jasmine to focus on the minor details, her mind works in a much more

complicated and conceptual way. She prefers to look at her business in “the big picture”, concentrating on

the direction of the business. This might lead to her self-described “Service Leadership” style.


          Jasmine is not the kind of manager who will tell you what to do every step of the way, she will not

micro-manage you. Because of that it has become invaluable for Jasmine to find the right people for the job.

To Jasmine, the right person is going to view her as a resource who can remove obstacles from their path. In




                                                                                                                   3
Dane Wilt                                   Entrepreneurial Interview                               March 4, 2013


addition to that she believes it is important to plant seeds so others can grow, and let them excel. For this to

be successful, she needs to find people who have the drive and solid character to thrive in this kind of

environment. Even if they don’t have all the necessary skills, she’s willing to train the right people.


        One such candidate is her 80 year old Grandma. Her Grandma has been involved in small business

for a long time, however never really had exposure to social media, YouTube, blogs, or many other

technological cornerstones of Ruby Inc. Jasmine knew her Grandma would be a valuable resource…but only

if she was willing to embrace technology. She decided to introduce her to technology utilizing some fun and

relatively simple iPad apps. Jasmine could think of no better one then the worldwide sensation Angry Birds.

Her Grandma’s initial job was to sit down with an iPad and play Angry Birds. Once she became comfortable

with that she began learning other applications. This eventually led to her exploring the internet, utilizing

email, and in time working in much more complicated software programs. Presently, her Grandma handles

all of Jasmine’s accounting utilizing QuickBooks and assists with creating YouTube videos. You can argue

that it is too time consuming to take this kind of time to train one employee. However, the success she is

experiencing with her Grandma is all a result of Jasmine taking the time to train the right person for the job.

Is this practical for every business to do? Of course not, but so far it has been a recipe for success at Ruby

Inc.



Entrepreneurial Characteristics
        When asked what the single greatest personality trait an entrepreneur can exhibit, she didn’t hesitate

for a second before answering “heart”. Elaborating that you can be the smartest or the richest person ever,

but if you do not have the ability to persevere through turmoil, you will not be successful.


        It is also important to remember that you represent your brand at all times. Rather your out on a

date with your significant other, or drinking at a bar with your friends, you will always be the face of your

company. She reminded me of the story of GoDaddy.com’s CEO Bob Parsons and his safari misadventure.

Parsons’ was on an African safari hunting elephants, but made the mistakes of videotaping the hunt and

wearing GoDaddy.com paraphernalia. This received a great deal of negative attention from the media, and



                                                                                                                    4
Dane Wilt                                   Entrepreneurial Interview                                 March 4, 2013


ultimately cost GoDaddy.com a tremendous amount of money and led to Parsons eventually stepping down.

Jasmine says she refuses to let something like this happen to Ruby Inc.


         Though Jasmine has learned many lessons through her business, her best piece of advice is simply to

take a Sabbath. It is very easy for an entrepreneur to completely wrap themselves up in their business, and

because of that it creates a great deal of stress on the individual, their family, and friends. That is why it is

paramount for everyone to take a day of rest and unwind. The trickiest part of being a successful

entrepreneur, is finding the correct balance of work and life. You may be living your business every day, but

occasionally everyone needs a break.




                                                                                                                      5

More Related Content

What's hot

A Taste of Successful Business Practices
A Taste of Successful Business PracticesA Taste of Successful Business Practices
A Taste of Successful Business Practices
Jim Pennypacker
 
Six-Rules
Six-RulesSix-Rules
Six-Rules
Ian Allison
 
The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...
The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...
The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...
TEMPOE
 
B2 b sales success with Dylis Guyan - international sales trainer
B2 b sales success with Dylis Guyan - international sales trainerB2 b sales success with Dylis Guyan - international sales trainer
B2 b sales success with Dylis Guyan - international sales trainer
Dallas McMillan
 
Andrea opoku
Andrea opoku Andrea opoku
Andrea opoku
Alibaba.com
 
Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]
Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]
Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]
Seth Ellis
 
The Most Creative Business Leaders 2020
The Most Creative Business Leaders 2020The Most Creative Business Leaders 2020
The Most Creative Business Leaders 2020
Insights success media and technology pvt ltd
 
COASTAL ESSENCE MAGAZINE
COASTAL ESSENCE MAGAZINECOASTAL ESSENCE MAGAZINE
COASTAL ESSENCE MAGAZINE
johnwillie1956
 
How to Create an Unstoppable Home Based Business and Network Marketing Machine
How to Create an Unstoppable Home Based Business and Network Marketing MachineHow to Create an Unstoppable Home Based Business and Network Marketing Machine
How to Create an Unstoppable Home Based Business and Network Marketing Machine
Erik Christian Johnson
 
Pauline crawford; CEO Corporate Heart
Pauline crawford; CEO Corporate HeartPauline crawford; CEO Corporate Heart
Pauline crawford; CEO Corporate Heart
Alibaba.com
 
E is for Entrepreneur
E is for EntrepreneurE is for Entrepreneur
E is for Entrepreneur
Barbara Hranilovich
 
It 6710 presentation makeover magic
It 6710 presentation makeover magicIt 6710 presentation makeover magic
It 6710 presentation makeover magic
Cathy Halterbaum
 
Lisa D Curriculam Vitae
Lisa D Curriculam VitaeLisa D Curriculam Vitae
Lisa D Curriculam Vitae
Lisa Diedricks
 
100 Voices In Business - Celebrating 100 Years Of International Women's Day
100 Voices In Business - Celebrating 100 Years Of International Women's Day100 Voices In Business - Celebrating 100 Years Of International Women's Day
100 Voices In Business - Celebrating 100 Years Of International Women's Day
Krishna De
 
Entire 40 under 40 Grocery 2015
Entire 40 under 40 Grocery 2015Entire 40 under 40 Grocery 2015
Entire 40 under 40 Grocery 2015
Trish Happel
 
Business is Personal - Build Rapport with Small Talk
Business is Personal - Build Rapport with Small TalkBusiness is Personal - Build Rapport with Small Talk
Business is Personal - Build Rapport with Small Talk
The Chief Storyteller
 
Five keys to achieving entrepreneurial excellence
Five keys to achieving entrepreneurial excellenceFive keys to achieving entrepreneurial excellence
Five keys to achieving entrepreneurial excellence
hrt4
 
Asian Wealth Mag Summer 2016
Asian Wealth Mag Summer 2016Asian Wealth Mag Summer 2016
Asian Wealth Mag Summer 2016
Deepa Shah
 
Mary Kay Ash(an Entrepreneur)
Mary Kay Ash(an Entrepreneur)Mary Kay Ash(an Entrepreneur)
Mary Kay Ash(an Entrepreneur)
Farkhanda Kiran
 
Bringing Meaning To Your Practice
Bringing Meaning To Your PracticeBringing Meaning To Your Practice
Bringing Meaning To Your Practice
Sarah Bird
 

What's hot (20)

A Taste of Successful Business Practices
A Taste of Successful Business PracticesA Taste of Successful Business Practices
A Taste of Successful Business Practices
 
Six-Rules
Six-RulesSix-Rules
Six-Rules
 
The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...
The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...
The Tidal Wave of a New Generation at Work — Millennials are Shifting the Ret...
 
B2 b sales success with Dylis Guyan - international sales trainer
B2 b sales success with Dylis Guyan - international sales trainerB2 b sales success with Dylis Guyan - international sales trainer
B2 b sales success with Dylis Guyan - international sales trainer
 
Andrea opoku
Andrea opoku Andrea opoku
Andrea opoku
 
Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]
Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]
Summer-Search-Alumni-Summit-Program-Book-and-Itinerary[1]
 
The Most Creative Business Leaders 2020
The Most Creative Business Leaders 2020The Most Creative Business Leaders 2020
The Most Creative Business Leaders 2020
 
COASTAL ESSENCE MAGAZINE
COASTAL ESSENCE MAGAZINECOASTAL ESSENCE MAGAZINE
COASTAL ESSENCE MAGAZINE
 
How to Create an Unstoppable Home Based Business and Network Marketing Machine
How to Create an Unstoppable Home Based Business and Network Marketing MachineHow to Create an Unstoppable Home Based Business and Network Marketing Machine
How to Create an Unstoppable Home Based Business and Network Marketing Machine
 
Pauline crawford; CEO Corporate Heart
Pauline crawford; CEO Corporate HeartPauline crawford; CEO Corporate Heart
Pauline crawford; CEO Corporate Heart
 
E is for Entrepreneur
E is for EntrepreneurE is for Entrepreneur
E is for Entrepreneur
 
It 6710 presentation makeover magic
It 6710 presentation makeover magicIt 6710 presentation makeover magic
It 6710 presentation makeover magic
 
Lisa D Curriculam Vitae
Lisa D Curriculam VitaeLisa D Curriculam Vitae
Lisa D Curriculam Vitae
 
100 Voices In Business - Celebrating 100 Years Of International Women's Day
100 Voices In Business - Celebrating 100 Years Of International Women's Day100 Voices In Business - Celebrating 100 Years Of International Women's Day
100 Voices In Business - Celebrating 100 Years Of International Women's Day
 
Entire 40 under 40 Grocery 2015
Entire 40 under 40 Grocery 2015Entire 40 under 40 Grocery 2015
Entire 40 under 40 Grocery 2015
 
Business is Personal - Build Rapport with Small Talk
Business is Personal - Build Rapport with Small TalkBusiness is Personal - Build Rapport with Small Talk
Business is Personal - Build Rapport with Small Talk
 
Five keys to achieving entrepreneurial excellence
Five keys to achieving entrepreneurial excellenceFive keys to achieving entrepreneurial excellence
Five keys to achieving entrepreneurial excellence
 
Asian Wealth Mag Summer 2016
Asian Wealth Mag Summer 2016Asian Wealth Mag Summer 2016
Asian Wealth Mag Summer 2016
 
Mary Kay Ash(an Entrepreneur)
Mary Kay Ash(an Entrepreneur)Mary Kay Ash(an Entrepreneur)
Mary Kay Ash(an Entrepreneur)
 
Bringing Meaning To Your Practice
Bringing Meaning To Your PracticeBringing Meaning To Your Practice
Bringing Meaning To Your Practice
 

Similar to Ruby inc

119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09
119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09
119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09
Lia s. Associates | Branding & Design
 
V3i3 sample
V3i3 sampleV3i3 sample
V3i3 sample
Jose Gonzalez
 
The 10 most creative shepreneurs to watch in 2019
The 10 most creative shepreneurs to watch in 2019The 10 most creative shepreneurs to watch in 2019
The 10 most creative shepreneurs to watch in 2019
Merry D'souza
 
Create Australia Founder - Myriam Borg Interview
Create Australia Founder - Myriam Borg InterviewCreate Australia Founder - Myriam Borg Interview
Create Australia Founder - Myriam Borg Interview
Myriam Borg
 
The-Ultimate-Lead-Generation-Machine
The-Ultimate-Lead-Generation-MachineThe-Ultimate-Lead-Generation-Machine
The-Ultimate-Lead-Generation-Machine
Causubtlig1991539
 
LAUNCH! Magazine Issue Two
LAUNCH! Magazine Issue TwoLAUNCH! Magazine Issue Two
LAUNCH! Magazine Issue Two
F Douglass Gore
 
LAUNCH! Magazine Issue Two
LAUNCH! Magazine Issue TwoLAUNCH! Magazine Issue Two
The Number One Job Hunting Book in the World!
The Number One Job Hunting Book in the World!The Number One Job Hunting Book in the World!
The Number One Job Hunting Book in the World!
Jim Stroud
 
Rogue Women Lessons
Rogue Women LessonsRogue Women Lessons
Rogue Women Lessons
Patrick West
 
Youth on the move project
Youth on the move projectYouth on the move project
Youth on the move project
mgladden
 
Youth on the move project
Youth on the move projectYouth on the move project
Youth on the move project
mgladden
 
Youth on the move project
Youth on the move projectYouth on the move project
Youth on the move project
mgladden
 
A Revolution In Network Marketing
A Revolution In Network MarketingA Revolution In Network Marketing
A Revolution In Network Marketing
krissyjo
 
Hobby to entrepreneurship transition
Hobby to entrepreneurship transitionHobby to entrepreneurship transition
Hobby to entrepreneurship transition
RANGANATHAN KRISHNA RAO
 
The 10 most successful businesswomen to watch, 2022
The 10 most successful businesswomen to watch, 2022The 10 most successful businesswomen to watch, 2022
The 10 most successful businesswomen to watch, 2022
Merry D'souza
 
Career
CareerCareer
TheBrandGirls
TheBrandGirls TheBrandGirls
TheBrandGirls
Taylor Glaze
 
10 Most Common Myths about Entrepreneuship
10 Most Common Myths about Entrepreneuship10 Most Common Myths about Entrepreneuship
10 Most Common Myths about Entrepreneuship
Mara Mentor
 
Girls Gone Global Udemy Course
Girls Gone Global Udemy CourseGirls Gone Global Udemy Course
Girls Gone Global Udemy Course
Leah Haws
 
League of successful business women 2020
League of successful business women 2020 League of successful business women 2020
League of successful business women 2020
Merry D'souza
 

Similar to Ruby inc (20)

119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09
119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09
119 190727 Fast Forward - How Woman Can Achieve Power And Purpose 06-09
 
V3i3 sample
V3i3 sampleV3i3 sample
V3i3 sample
 
The 10 most creative shepreneurs to watch in 2019
The 10 most creative shepreneurs to watch in 2019The 10 most creative shepreneurs to watch in 2019
The 10 most creative shepreneurs to watch in 2019
 
Create Australia Founder - Myriam Borg Interview
Create Australia Founder - Myriam Borg InterviewCreate Australia Founder - Myriam Borg Interview
Create Australia Founder - Myriam Borg Interview
 
The-Ultimate-Lead-Generation-Machine
The-Ultimate-Lead-Generation-MachineThe-Ultimate-Lead-Generation-Machine
The-Ultimate-Lead-Generation-Machine
 
LAUNCH! Magazine Issue Two
LAUNCH! Magazine Issue TwoLAUNCH! Magazine Issue Two
LAUNCH! Magazine Issue Two
 
LAUNCH! Magazine Issue Two
LAUNCH! Magazine Issue TwoLAUNCH! Magazine Issue Two
LAUNCH! Magazine Issue Two
 
The Number One Job Hunting Book in the World!
The Number One Job Hunting Book in the World!The Number One Job Hunting Book in the World!
The Number One Job Hunting Book in the World!
 
Rogue Women Lessons
Rogue Women LessonsRogue Women Lessons
Rogue Women Lessons
 
Youth on the move project
Youth on the move projectYouth on the move project
Youth on the move project
 
Youth on the move project
Youth on the move projectYouth on the move project
Youth on the move project
 
Youth on the move project
Youth on the move projectYouth on the move project
Youth on the move project
 
A Revolution In Network Marketing
A Revolution In Network MarketingA Revolution In Network Marketing
A Revolution In Network Marketing
 
Hobby to entrepreneurship transition
Hobby to entrepreneurship transitionHobby to entrepreneurship transition
Hobby to entrepreneurship transition
 
The 10 most successful businesswomen to watch, 2022
The 10 most successful businesswomen to watch, 2022The 10 most successful businesswomen to watch, 2022
The 10 most successful businesswomen to watch, 2022
 
Career
CareerCareer
Career
 
TheBrandGirls
TheBrandGirls TheBrandGirls
TheBrandGirls
 
10 Most Common Myths about Entrepreneuship
10 Most Common Myths about Entrepreneuship10 Most Common Myths about Entrepreneuship
10 Most Common Myths about Entrepreneuship
 
Girls Gone Global Udemy Course
Girls Gone Global Udemy CourseGirls Gone Global Udemy Course
Girls Gone Global Udemy Course
 
League of successful business women 2020
League of successful business women 2020 League of successful business women 2020
League of successful business women 2020
 

Recently uploaded

Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian MatkaDpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
 
欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】
欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】
欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】
valvereliz227
 
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineEllen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine
CIOWomenMagazine
 
IMG_20240615_091110.pdf dpboss guessing
IMG_20240615_091110.pdf dpboss  guessingIMG_20240615_091110.pdf dpboss  guessing
deft. 2024 pricing guide for onboarding
deft.  2024 pricing guide for onboardingdeft.  2024 pricing guide for onboarding
deft. 2024 pricing guide for onboarding
hello960827
 
Science Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around UsScience Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around Us
PennapaKeavsiri
 
Enhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: IntroductionEnhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: Introduction
Cor Verdouw
 
CULR Spring 2024 Journal.pdf testing for duke
CULR Spring 2024 Journal.pdf testing for dukeCULR Spring 2024 Journal.pdf testing for duke
CULR Spring 2024 Journal.pdf testing for duke
ZevinAttisha
 
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdfThe Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
thesiliconleaders
 
Pro Tips for Effortless Contract Management
Pro Tips for Effortless Contract ManagementPro Tips for Effortless Contract Management
Pro Tips for Effortless Contract Management
Eternity Paralegal Services
 
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
Cambridge Product Management Network
 
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
irhcs
 
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani case
 
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper PresentationKirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip
 
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
IPLTech Electric
 
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Stone Art Hub
 
Cover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SUCover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SU
msthrill
 
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
BBPMedia1
 
GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
GraceKohler1
 
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
 

Recently uploaded (20)

Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian MatkaDpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
 
欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】
欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】
欧洲杯赌球-欧洲杯赌球买球官方官网-欧洲杯赌球比赛投注官网|【​网址​🎉ac55.net🎉​】
 
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineEllen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine
 
IMG_20240615_091110.pdf dpboss guessing
IMG_20240615_091110.pdf dpboss  guessingIMG_20240615_091110.pdf dpboss  guessing
IMG_20240615_091110.pdf dpboss guessing
 
deft. 2024 pricing guide for onboarding
deft.  2024 pricing guide for onboardingdeft.  2024 pricing guide for onboarding
deft. 2024 pricing guide for onboarding
 
Science Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around UsScience Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around Us
 
Enhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: IntroductionEnhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: Introduction
 
CULR Spring 2024 Journal.pdf testing for duke
CULR Spring 2024 Journal.pdf testing for dukeCULR Spring 2024 Journal.pdf testing for duke
CULR Spring 2024 Journal.pdf testing for duke
 
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdfThe Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
 
Pro Tips for Effortless Contract Management
Pro Tips for Effortless Contract ManagementPro Tips for Effortless Contract Management
Pro Tips for Effortless Contract Management
 
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
 
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
 
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
 
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper PresentationKirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper Presentation
 
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
 
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
 
Cover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SUCover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SU
 
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
 
GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
 
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
 

Ruby inc

  • 2. Dane Wilt Entrepreneurial Interview March 4, 2013 Ruby Inc. Objective This paper was written to help potential business owners understand what it takes to become a successful entrepreneur. It will focus on key characteristics, business operations, and tips on becoming successful. My goal is that it will help potential entrepreneurs understand that though you’re in business to make money, it is also important to take a societal conscious approach and ensure that your business benefits the community as a whole. Summary Jasmine Grimm, founder of Ruby Inc. is much more modest about her accomplishments then most would suspect. Even after recently being nominated for Inc. Magazine's “Top 30 Under 30, America's Coolest Young Entrepreneurs”, placing on Central Penn Business Journal's “Top 25 Women of Influence”, and receiving the 2013 SCORE Business Development Award. For most of us, just one of these honors would be humbling…but to Jasmine, it’s just business as usual. Jasmine came up with the idea for Ruby Inc. while attending Syracuse Universities EBV Program (Entrepreneurship Boot Camp for Veterans with Disabilities). The program is designed to work at a high speed allowing participants to gain the tools needed to start and manage their own small business. While attending she needed to come up with her own creative business idea to sell to a group of venture capitalists at the end of the week. She always had an eye for fashion, and at the suggestion of her husband, used that background to formulate a business that would benefit many women. Simply put, teach women how to dress for their body type. From helping customers choose properly fitting clothes, to helping them develop a fashion sense, and even assisting them with accessorizing, Jasmine’s business plan covered it all. The concept went over remarkably, and when she returned to Lancaster, Pennsylvania Ruby Inc. was born. 1
  • 3. Dane Wilt Entrepreneurial Interview March 4, 2013 Ruby, Inc.’s mission is: “To inspire women that their worth is far above rubies and the company addresses specific needs for women in three niches including color analysis, fit, and personal style.” During her first year in business Ruby Inc. was able to break even, which is very rare for a first time business owner. She also decided to become an LLC and is considered to be non-profit as she took a very society conscious approach to her business and donates 10% of her revenue to charity. Jasmine still does this, and hopes that someday Ruby Inc. will be successful enough that she can keep 10%, and donate the other 90%. Marketing Many great business concepts have failed because their owners had no concept as to who they were marketing to. This is not an issue for Ruby Inc., as they have a very clear picture of who their customers are. Jasmine has broken her demographic down into three key categories: 1) Fast Trackers-Women who are college graduates, generally in their late 20’s to early 30’s. These women can be married or single, but regardless live a very busy life style. 2) Successful Multi-Taskers-Women who are college graduates that make at least $50,000 a year. They live a busy, often hectic life balancing family, work, and social lives. These women can be any age, but generally late 30’s into early 40’s. 3) Fulfilled Empty Nesters-Women who have aged very gracefully. Most have reached or are quickly approaching retirement, make over $50,000 a year, and have a strong desire to remain fashionable during their “golden years”. To reach these three key demographics, Jasmine utilizes several advertising methods. Social media is critical for her business. You can find Ruby Inc. on Facebook, Twitter, LinkedIn, and even her webpage is an interactive blog. She also utilizes YouTube creating E-how videos to help promote her business and inform consumers. She also appears on podcasts and wants to begin advertising on local radio stations. In addition to that she appears in multiple magazines, has accepted many awards, and often does public speaking events. Her two biggest promotional tools are simple, but often over looked by other companies. Word of mouth is critical in her industry. It’s free and reaches all members of her demographic with no additional cost to her. 2
  • 4. Dane Wilt Entrepreneurial Interview March 4, 2013 She is also a true philanthropist, stressing many times during our interview “just help people”. She works closely with many non-profits, donates 10% of her total revenue, and is always quick to volunteer a helping hand within the community. Though she does these things because she feels it is the responsible thing to do, it also greatly benefits her through the notoriety Ruby Inc. receives. Though her market is relatively narrow, she does have some key competitors. Stacy London of “What Not to Wear” competes with her on a much more national level. But, locally she has a very similar competitor in Style Wise. To a lesser extent she has to deal with Nordstrom’s who offer styling advice for free, provided you purchase from them. Many places in local malls offer fittings, but these locations generally don’t offer the style advice expertise that Jasmine does. However, her biggest competitors of all are women who are “Do-It-Yourselfers”. This can be problematic because though there are a large number of women out there who have the ability to style themselves, there are an equal amount of women who try and greatly fail at self-styling. Jasmine’s long term marketing goals are to continue her “controlled growth” model, simply put don’t grow beyond your means. In time her hope is this will create a self-sustaining non-profit, that would allow her to continue to foster goodwill for Ruby Inc. within the community. Her hope is someday to be successful enough she can start another non-profit company. Her vision is to create a place where disabled veterans can come and help train their own service dogs. Management It is often hard for Jasmine to focus on the minor details, her mind works in a much more complicated and conceptual way. She prefers to look at her business in “the big picture”, concentrating on the direction of the business. This might lead to her self-described “Service Leadership” style. Jasmine is not the kind of manager who will tell you what to do every step of the way, she will not micro-manage you. Because of that it has become invaluable for Jasmine to find the right people for the job. To Jasmine, the right person is going to view her as a resource who can remove obstacles from their path. In 3
  • 5. Dane Wilt Entrepreneurial Interview March 4, 2013 addition to that she believes it is important to plant seeds so others can grow, and let them excel. For this to be successful, she needs to find people who have the drive and solid character to thrive in this kind of environment. Even if they don’t have all the necessary skills, she’s willing to train the right people. One such candidate is her 80 year old Grandma. Her Grandma has been involved in small business for a long time, however never really had exposure to social media, YouTube, blogs, or many other technological cornerstones of Ruby Inc. Jasmine knew her Grandma would be a valuable resource…but only if she was willing to embrace technology. She decided to introduce her to technology utilizing some fun and relatively simple iPad apps. Jasmine could think of no better one then the worldwide sensation Angry Birds. Her Grandma’s initial job was to sit down with an iPad and play Angry Birds. Once she became comfortable with that she began learning other applications. This eventually led to her exploring the internet, utilizing email, and in time working in much more complicated software programs. Presently, her Grandma handles all of Jasmine’s accounting utilizing QuickBooks and assists with creating YouTube videos. You can argue that it is too time consuming to take this kind of time to train one employee. However, the success she is experiencing with her Grandma is all a result of Jasmine taking the time to train the right person for the job. Is this practical for every business to do? Of course not, but so far it has been a recipe for success at Ruby Inc. Entrepreneurial Characteristics When asked what the single greatest personality trait an entrepreneur can exhibit, she didn’t hesitate for a second before answering “heart”. Elaborating that you can be the smartest or the richest person ever, but if you do not have the ability to persevere through turmoil, you will not be successful. It is also important to remember that you represent your brand at all times. Rather your out on a date with your significant other, or drinking at a bar with your friends, you will always be the face of your company. She reminded me of the story of GoDaddy.com’s CEO Bob Parsons and his safari misadventure. Parsons’ was on an African safari hunting elephants, but made the mistakes of videotaping the hunt and wearing GoDaddy.com paraphernalia. This received a great deal of negative attention from the media, and 4
  • 6. Dane Wilt Entrepreneurial Interview March 4, 2013 ultimately cost GoDaddy.com a tremendous amount of money and led to Parsons eventually stepping down. Jasmine says she refuses to let something like this happen to Ruby Inc. Though Jasmine has learned many lessons through her business, her best piece of advice is simply to take a Sabbath. It is very easy for an entrepreneur to completely wrap themselves up in their business, and because of that it creates a great deal of stress on the individual, their family, and friends. That is why it is paramount for everyone to take a day of rest and unwind. The trickiest part of being a successful entrepreneur, is finding the correct balance of work and life. You may be living your business every day, but occasionally everyone needs a break. 5