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.
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.
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