This Couple Started Their Business With Just $5,000. Now It Brings in $5 Million a Year—With Kevin O'Leary as an Investor

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During a four-hour road trip with their kids, Jamie and Brian Ratner came up with an idea to start a deals website just for parents. Now their business, backed by “Shark Tank” investor Kevin O’Leary, brings in $5 million a year.

1. Make your business name short, memorable and easy to spell.

In emails and on documents, people also often spell the name wrong, including on checks, which leads to us having to spend time addressing the error.Rather than come up with a budget when first starting out, we used only what we could afford to invest, which was $5,000. We maintained a lean staff, with a mix of full-time employees and independent contractors.

During our first two years in business, we focused solely on our home base in the Washington D.C. and Baltimore area. We asked our family and friends to spread the word. I also did my best to connect with every local parent-teacher association, business owner and media outlet. Early on, we turned down 10 acquisition and partnership opportunities. We had built a great team, and we wanted to run things our way for as long as possible.

 

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