Seeking Even Faster Growth, an E-Commerce Company Stumbles


JIMMY BEANS WOOL is an online yarn and fabric retailer with a brick-and-mortar store in Reno, Nev. The company, which has 37 employees, was founded by a married couple who are former software engineers, Laura and Doug Zander, in 2002. After five years, sales were $1 million. They topped $7 million in 2013.

The Challenge

From 2007 to 2012, Jimmy Beans Wool grew organically at an annual rate of as much as 50 percent. But about two years ago, after the company earned national recognition for its growth, Ms. Zander began to think bigger. “Everyone in the business community was saying we could be a $100 million business,” she said. That became her objective.

But last June, after Ms. Zander had put in place many strategies to grow even higher, Jimmy Beans’s sales fell flat. In subsequent months, they dropped further. The Zanders had to stop taking salaries, pay employees out of their personal savings account and rethink their growth plans.

Written by Adriana Gardella. To read the full article, click here. Premier Business Network™ provides Guaranteed Benefits for Small Businesses™. Feel free to join the  conversation about small business benefits at #pbnbenefits. For more small business tips or to become a member, visit our website at www.premierbusinessnetwork.com, and follow us everywhere @pbnbenefits.

Advertisements

About pbnbenefits

Premier Business Network™ offers Guaranteed Benefits for Small Businesses™. We provide guaranteed discounted services from nationally recognized suppliers to our exclusive membership base of small businesses and entrepreneurs. At Premier Business Network™, we firmly believe that small businesses and entrepreneurs are the cornerstone of today's economy. With that in mind, our benefits are tailored specifically to help our exclusive members succeed. Premier Business Network™ offers Guaranteed Benefits for Small Businesses™. Join our #smallbusiness #movement at http://bit.ly/fundpbn for #membership #benefits!
This entry was posted in Business Advice, Business Tips, E-Commerce, Growing Your Business and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s