BW Online | March 25, 2002

From: Subject: BW Online | March 25, 2002 | Startup Saga Date: Mon, 18 Mar 2002 18:33:01 -0800 MIME-Version: 1.0 Content-Type: multipart/related; boundary="----=_NextPart_000_0000_01C1CEAB.55D16400"; type="text/html" X-MimeOLE: Produced By Microsoft MimeOLE V5.50.4807.1700 This is a multi-part message in MIME format. ------=_NextPart_000_0000_01C1CEAB.55D16400 Content-Type: text/html; charset="Windows-1252" Content-Transfer-Encoding: quoted-printable Content-Location: http://www.businessweek.com/magazine/content/02_12/b3775041.htm BW Online | March 25, 2002 | Startup Saga 3D"Click

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= A=20 Squandered Presidency?

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=95 Find More Stories Like=20 This

THE = MOUSEDRIVER=20 CHRONICLES
The True-Life Adventures of
Two = First-Time=20 Entrepreneurs
By John Lusk and Kyle = Harrison
Perseus --=20 257pp -- $24

In the late 1990s, a typical American = dream=20 might have involved landing a cushy dot-com job with stock = options.=20 But John Lusk and Kyle Harrison chose to travel a less = fashionable=20 path: manufacturing a novelty-gift item for office-bound = Tiger Woods=20 wannabes--a computer mouse shaped like the head of a golf=20 driver.

A crazy decision for two recently minted = Wharton=20 School MBAs? If making and creating a market for such an = improbable=20 gizmo weren't enough, the duo then one-upped themselves by = writing a=20 book, The MouseDriver Chronicles, describing the = experience.=20 The result is a well-written and witty how-to, with = worthwhile=20 lessons for all entrepreneurs.

MouseDriver took shape = as=20 Harrison's 1999 marketing-class project. The idea of selling = the=20 mice quickly gained momentum, partly because Lusk and = Harrison--then=20 in their late 20s--were fixated on starting their own = businesses and=20 partly because Leonard M. Lodish, a Wharton=20 entrepreneurial-marketing professor, kicked in $20,000 of = the=20 $120,000 they ultimately raised to get Platinum Concepts = Inc. off=20 the ground.

Frugality and creativity became the = partners'=20 watchwords. A modest San Francisco apartment doubled as home = and=20 office for Lusk and Harrison. A nearby Starbucks served as = their=20 "conference room" and even provided a setting for market = research=20 since an espresso bartender there fit their "main=20 demographic--gift-buying women ages 25-75." They joined a = local gym=20 at the discounted partner rate--not as business partners, = but by=20 posing as "San Francisco-type" domestic partners. And they = learned=20 to barter, trading a MouseDriver for such desirable wares as = tickets=20 to see the band Hootie & the Blowfish.

One = humbling=20 discovery: Their vaunted degrees and Wharton contacts proved = less of=20 a resource than the Yellow Pages. Another lesson--when in = doubt,=20 imitate. How better to compose a warranty card than to = borrow a=20 similar product's language? Same with packaging. They nosed = around=20 at the mall to see what they might copy.

Lusk = concedes that=20 he faces the occasional "entrepreneurial mood swing." = Perhaps it was=20 during one of those down periods that the authors came up = with their=20 Rule of Four, a "homemade metric for understanding = startups." Put=20 simply, the maxim suggests that you divide sales estimates = by four=20 and multiply work-time estimates by four. Nevertheless, by = the=20 book's end, in 2000, the authors have paid themselves for = the first=20 time, hired a publicist, gotten a real office (even if it's = a=20 "shed"), and sold about $600,000 worth of product via about = 500=20 stores, including Brookstone. They come across as tireless = salesmen,=20 while at the same time they could be poster boys for the = idea that=20 it's the journey that counts. Although they hardly need to=20 rationalize avoiding the dot-coms, that choice now seems = downright=20 smart.

3D""=20

By Karin=20 Pekarchik

Click to buy = an e-print or = reprint of a BusinessWeek or BusinessWeek Online = story.=20

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