This rule came from my Grandpa Huber. Actually, it was part of a trio of warnings he gave me, including, “Never eat at a restaurant named ‘Mom’s,’ ” and “Never play cards with a guy named Ace.” These last two rules are easy to understand, but I never fully comprehended the first one until I bought Jones. Jones is a…
This column is one in a series that will explore the thoughts, ideas and unadorned advice of an entrepreneur who made it, Edward Lowe. When he “brought the cat indoors” with a revolutionary cat-box filler, Kitty Litter, he created an industry that changed the lives of millions of cat lovers, not to mention cats. During his life, Ed Lowe used “plain talk” to speak about the bottom line from the bottom of his heart. We believe these writings, revised and updated after his death, offer value for both your business and personal life.
Entrepreneurs are usually seen as “big idea” people. But as they used to say in the Michigan towns where I grew up, a great idea and a dime will get you a ride on the streetcar.Dimes Into Dollars The “Eureka moment” — when you get that inspiration that will somehow change life as we know it — is a prerequisite
This may be the last thing on your mind right now, but unless you’re carried out in a box, all entrepreneurs eventually must leave what they started. That’s what I did after more than 40 years at the helm of what became Edward Lowe Industries. I unearthed the cat-box-filler industry, and maybe some people expected me to be buried in it. But in a move that surprised many who knew me, I sold it.
Think back to when you launched your business. I doubt whether you dashed out and did it on a whim. You probably considered and reconsidered a million different areas: your product or service, your market, your competition, how to get money and what could go wrong.
When I invented Kitty Litter in 1947, being an overbearing boss was the last thing on my mind. Quite simply, there was nobody to boss around. Employees weren’t even a pipe dream back then — I was often using the proceeds of a sale during the day to pay for my hotel room that night. From bagging the clay to changing countless litter boxes at pet shows to demonstrate my product’s prowess, I did it all myself. It would have been great to have help — especially for the litter boxes!
When I was growing up, there was this old man who lived just outside town. When strangers asked directions, he unfailingly replied, “Mister, all roads lead to Cassopolis.”
My Grandpa Huber used to tell a story about an entrepreneurial miner. After a few years of futile picking at his claim, he came up with a “big idea.”
I have a suggestion for entrepreneurs who are daunted by the cost of sophisticated, yet expensive, marketing research: Weigh your mail.