How To Be A Lean Retail Entrepreneur

By Daniel Meurer WG’17, Founder of Laguna Beach Towel Company

Today, retail entrepreneurs have a major opportunity to build lean, profitable businesses and capture share from large retailers.

Changes in distribution, advertising and freelance outsourcing accessibility have created the opportunity for entrepreneurs to offer equivalent value at lower prices. Smaller, newer, and nimbler companies can organically build brands and narratives that resonate with consumers and can do this using low cost, but high impact, advertising channels. This has pressured margins across the industry, but has simultaneously offered creative entrepreneurs the opportunity to create successful retail businesses.

Legacy retail companies can ride this trend by aligning themselves through partnerships, investments, or acquisition with smaller, upstart consumer brands. Retailers can also gain through association with smaller, more narrative focused brands and leverage brick and mortar stores, and established brand equity to play a greater role in curation, aggregation and distribution.

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Leveraging Every One of Your Tuition Dollars for Your Startup

By Rajat Bhageria ENG’18, Co-founder of ThirdEye

For the entirety of my freshman year, I worked on building a startup with a group of three other freshmen. Our big idea was ThirdEye: a product that empowers visually impaired persons by telling them what they are looking at. During our freshmen year, our team of engineering freshmen was able to build a full prototype of our product on Google Glass, iOS, and Android, get accepted into the Wharton Venture Initiation Program, partner with the largest organization of visually impaired persons in the country, beta test our product with fifteen visually impaired persons, get selected as finalists and award winners in the MBA-dominated Wharton Business Plan Competition, and even establish a board of four well known Silicon Valley advisors.

Rajat Bhageria ENG'18 and the rest of the ThirdEye team presenting at the 2015 Business Plan Competition Venture Finals.
Rajat Bhageria ENG’18 and the rest of the ThirdEye team presenting at the 2015 Business Plan Competition Venture Finals.

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