Growth Will be Organic
Here are some tips for growing without an external cash infusion.
The term organic may take on a new context this year, as entrepreneurs turn to natural growth rather than loans or investors for expansion. Growing without an external infusion of cash can be a challenge, demanding ingenuity and creativity.
Bonnie Marcus, 37, saved money while starting her Westport, Connecticut, stationery company, Bonnie Marcus Collection, in 2002 by creating samples of her work and sending them to magazine editors. The low-cost approach worked: She landed mentions in New York magazine and Modern Bride, helping her secure orders from stationery stores including Bloomingdale's and Saks Fifth Avenue. Even as her business broke the $1 million mark in 2007, Marcus found other inexpensive ways to grow: She licensed her designs to Kodak for photo cards and produced holiday cards for a Beverly Hills PR firm, gratis. The result? Model and actress Molly Sims placed her holiday card order with Marcus.
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