Sramana: Aside from improving your personal managerial skills, it also sounds like you were unaware of various technical capabilities that could have helped you with your business, like inventory management software. Were you aware those types of software programs existed? Kim Pedersen: The real problem for me was the challenge of purchasing additional inventory while
Sramana: Even though you had no formal metric tools, you must have had some sense of the impact these ads were having on your business. Kim Pedersen: That is a correct statement. I could tell by the number of sales orders I received each day because the number kept going up.
Sramana: How did you handle the e-commerce transactions when you first launched the website? Did you just generate leads that you would complete by visiting in person or over the phone? Kim Pederson: I would put listings of our inventory online, and visitors could print out a copy of our inventory list and mark the
Sramana: What was the first thing you did with the $5,000 you had in order to start your own business? Kim Pederson: I spent $3,200 of it on a computer. Even at that time, I don’t think my brain stem was connected to my cerebral cortex yet. It was a bad mistake but it worked
Kim Pederson is the CEO and founder of 1000 Bulbs, an award-winning business of more than 100 employees which offers everything from simple household light bulbs to cutting-edge specialty lighting systems. He launched 1000Bulbs.com in 1996 after working as regional and national recruiter for two national lighting distributors. Today, 1000Bulbs.com enjoys double-digit sales growth, and
Sramana: What is that deal going to look like from a business structure point of view? Zalmi Duchman: It is a straight up revenue deal. The menu is ours and we are running the operations.
Sramana: In 2008 when Lehman Brothers was declaring bankruptcy, you decided to raise money. Were you successful? Zalmi Duchman: No, I was not. I did not even have a business plan. It was a year and a half later before we took money. At the end of 2008 we did $5.5 million, but I was
Sramana: How many kitchens were you running, and how many cities did you have this service in? Zalmi Duchman: In 2008, we had three kitchens outsourced in Miami, New York, and Chicago.