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Entrepreneurs Case

Essay by   •  January 27, 2012  •  Essay  •  344 Words (2 Pages)  •  814 Views

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Entrepreneurs are individuals who have a vision; an entrepreneur realizes a need in the marketplace and works to make his or her vision a reality. Ryan and Aaron saw a need for companies to send out mass marketing newsletters to their constituents. They realized that they had the necessary skills to make their vision a reality. Both partners had a different skill set that complimented the other. Ryan was good at Marketing and Aaron worked on the technical aspect. Together they had a minimal amount of money to begin their business, however, they compared the costs of obtaining a customer versus the revenue that one customer would bring in and they realized that the numbers looked profitable. The two began their business IContact and began to bring in enough profit to sustain the company. They took the profits and put it back into the business and the company continued to grow. The business was an internet based company so it was able to reach the global market fairly easily. The stakeholders of iContact are both local within the United States as well as overseas. The stakeholders of iContact are able to send out mass marketing pieces to their consumers through email blasts and internet marketing techniques. The service that iContact promotes is paperless which promotes living green as well.

Besides creating a green company that offers mass marketing to consumers the most impressive trait of Ryan and Aaron was their ability to have a vision and act on it. Ryan and Aaron could have given up because of the lack of sufficient funds to create a large business. They had the entrepreneur spirit to invest their own funds, create a working service, and keep their operating expenses within their means for the first year. Once the first year produced enough funds to sustain another year they put their earnings back into the company to make it bigger and bigger until it grew to over $15 million dollars.

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