Ultra-Light Startup to $20 Million in Revenue: WatchUWant CEO OJ Whatley (Part 7)

Sramana Mitra: How many people do you have? OJ Whatley: We currently have 20 employees. Sramana Mitra: That’s very good – 20 employees, $20 million in revenue. OJ Whatley: Half of those are sales associates. Sramana Mitra: That is my next question. What is the composition?  Half are sales associates, what is the other half

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Ultra-Light Startup to $20 Million in Revenue: WatchUWant CEO OJ Whatley (Part 6)

Sramana Mitra: Regardless, in 2008 you were generating business at your own site. Talk to me specifically about your own site – developing your own site, business on your own site, the traffic. How much business do you do today on your own site? OJ Whatley: Back then, as it is today, it’s primarily keyword-driven.

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Ultra-Light Startup to $20 Million in Revenue: WatchUWant CEO OJ Whatley (Part 5)

Sramana Mitra: You said in 2006 you were doing $6 million? OJ Whatley: Yes, $6 million – $500,000 in receipts per month. Sramana Mitra: What was the inventory situation at that point? OJ Whatley: I probably had closer to 50 to 80. Sramana Mitra: That’s still out of your home?

Ultra-Light Startup to $20 Million in Revenue: WatchUWant CEO OJ Whatley (Part 4)

Sramana Mitra: It sounds like your business was entirely Panerai until what year? OJ Whatley: Until about 2003. Sramana Mitra: What did you do after 2003? OJ Whatley: Again, I’ve always loved watches. Panerai has captured my heart. In fact to this day, my license plate is Panerai. I fell in love with Panerai like

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Ultra-Light Startup to $20 Million in Revenue: WatchUWant CEO OJ Whatley (Part 3)

Sramana Mitra: Talk a bit more about some of the granular details of specific elements? OJ Whatley: In 2000, I walked into a watch store and I happened to pick up these hardcover books on the history of Panerai. They were like coffee table books. I went on eBay and found about eight of these

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Ultra-Light Startup to $20 Million in Revenue: WatchUWant CEO OJ Whatley (Part 2)

Sramana Mitra: Why watches? OJ Whatley: I’ve always loved watches. Even going back to my days as a 10-year-old, I was always enamored of watches. Sramana Mitra: It’s a passion. OJ Whatley: Yes. The price points were $10 to $300. I was always obsessed with watches and I’ve been wearing a watch since I was

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Ultra-Light Startup to $20 Million in Revenue: WatchUWant CEO OJ Whatley (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. OJ Whatley did $6 million in revenue in 2006 from his home, with ‘me, myself, and I.’ Further elaborating on the ultra-light startup trend, we bring you his story of approaching $20 million with 20 employees. Sramana Mitra: Let’s start at the beginning of your story.

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The Promise Of E-Commerce

Whichever way you look at it, the web has become the place for commerce. Online spending grew again over 2011, and the growth rate has outpaced that of traditional brick-and-mortar stores. While many chain retailers’ online sales are growing, their store sales are shrinking. For the longest time, entrepreneurs wanting to venture off on their

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