FSB March Highlights
COVER STORY: Gold Rush, by Brian O'Reilly, page 36
Can a pair of sunken-treasure hunters with a business plan create a sustainable, predictable, corporation in an industry dominated by maverick wildcatters? FSB's Brian O'Reilly takes a boat ride with the co-founders of Odyssey Marine Exploration (OME), to learn more about their desire to be the next Exxon. "The oil companies were exploration companies when they started," says co-developer of OME, Greg Stemm. "When we show that these discoveries are repeatable, the image of the business will change."
The Return of the Loan Inventor, by Ian Mount, page 18
Driven by Wall Streets' obsession with quarterly numbers, more and more large corporations are slashing their R&D budgets and turning to the country's basements, garages and small companies for innovation. FSB's Ian Mount reports on this new trend and how entrepreneurs are taking advantage of what is now called, "innovation sourcing."
SMALL BIZ MAKEOVER: Gypsy Women, by Brian O'Reilly, page 53
The Junk Gypsies, aka Amie, Jolie, and Janie Sikes run a small family business reselling oddball clothes, furnishings, funky jewelry, and T-shirts, but have been blindsided by their success. "We don't know if we want to do wholesale, retail, emphasize our website, specialize in T-shirts, or junk, or clothing or jewelry, or what," says Amie. They contacted FSB for a "Small Biz Makeover" and a team of experts; Dan Levy, founder of Levity, Fred Burt, head of client services at Interbrand, and Patricia Ziegler, co-founder of Banana Republic, advised the gypsy women on how to turn their cult following into a substantial long-lasting business.
Agile Armor, by Maggie Overfelt, page 69
Can Under Amour's sweat-wicking athletic togs maintain market dominance with Nike and Reebok breathing down their neck? FSB's Maggie Overfelt, reports on how this small business', "Made in the USA," investment pays off. "We used to job these things out to different sewing facilities, but then you lose control," says Kevin Plank, creator of the snug synthetic undershirt. In an effort to stay on top, Plank invested $1.3 million in a new 17,000 square-foot factory in Baltimore that can turn out large orders in record time. And, outside analysts agree; with Under Amour's extraordinary customer service and ability to accommodate over-night orders, the company is positioned for growth.
Snoop Dog, by Justin Martin, page 78
A New York outfit that uses bomb-sniffing dogs to keep workplaces safe is the first and only small business certified by the Department of Homeland Security. Michael Stapleton Associates (MSA), started out as a bomb dog firm but is diversifying into new scanning services called SmartTech. This technology assists the employees who operate X-ray machines in corporate lobbies, mailrooms, and loading docks as they are the first line of defense against a bombing. Revenues have nearly doubled each of the past two years, and MSA executives expect them to reach $20 million in 2005.
OFF HOURS: Best New Tastes, Maggie Overfelt, page 98
Gourmet chocolate truffles with lavender and black pepper, exotic pasta served at the Four Seasons in New York, and popcorn flavored with cinnamonFSB features fabulous tasty treats from the kitchens of small specialty-food makers.
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