Tag Archives: Entrepreneurship

The Key to Success

Posted on June 3, 2009 by Jeremy Litchfield| 4 Comments

There is a long held belief that 50% of new businesses fail in the first year and 95% fail within 5 years.  While new data from the SBA tells a different story (two-thirds of new businesses survive at least 2 years, and 44 percent survive at least 4 years), chances are still pushing 50% that starting a new business is a road to failure.

While there are countless (translation: millions upon millions) of resources, tips, and recommendations to help lead you to business success, I have to say I agree mostly with Burt’s Bees founder Roxanne Quimby who has remarked, “I had some midnight-of-your-soul type times. Once, I came home from a fair (in the very early days of Burt’s Bees) and found the window in my cabin blown in.  Snow was all over.  It was 20 below and 3 in the morning.  I hadn’t made any money and the car had just barely made it there. I really believe that success is just getting up one more time than you fall.”

There is one certainty when starting a company.  Not only will you will fall, you will fall often and hard.  Just ask Becca who has been with me for nearly every up and down over the last two years on this emotional roller coaster ride called entrepreneurship.

Sometimes the fall will be rejection by potential investors and other times it will be failing to meet an event sales goal.  Sometimes the fall will be a shipment of poorly manufactured products (they got returned) and other times it will be an unexpectedly large doctor’s bill.  As Roxanne Quimby and I both agree, the key is to keep getting up.  Eventually you just might find your balance.

I spend a lot of time talking about the successes Atayne has had as a young company.  But there is no doubt that I have fallen many times.  Here is one of our more recent tumbles. We had applied for a seed grant for a program that we call Trash 2 Treasure. The initiative aims to collect old athletic gear and re-manufacture it into innovative materials for new products.  An example of something we proposed is to use the materials in athletic shoes to make yoga mats.  Unfortunately, we were not one of the lucky 12 recipients.  One of the things we got negative marks for is they considered the pay rate for the Principal (that would be me) too high.  I found that slightly humorous since I have not collected a paycheck in almost 2 years.  I wonder how many of the reviewers are in that situation.

Anyway, as with any fall the key is to get back up, brush yourself off, and try again.  A friend of mine alerted me of a National Geographic/Sun Chips contest called the Green Effect.  It aims to inspire individuals to spark a green movement in their communities with five winners being awarded $20,000 to put their idea into action.  We had a couple ideas in our backpocket and decided to give it a whirl.  If you are a regular visitor to The Red Shirt Blog, the ideas may sound familiar.

Trash Runners Unite
Butts 4 Benefit

We would love your help by viewing the ideas and giving us your rating.  Who knows, this just might be the start of a nice period of balance.  Once again, thanks for the ongoing support.  In the words of Dr Seuss, “Unless someone like you cares a whole awful lot, nothing is going to get better. It’s not.”

→ 4 Comments

Posted in Uncategorized

Tagged , , , , ,

Reflections and Lessons from Two Years as an Entrepreneur

Posted on May 28, 2009 by Jeremy Litchfield| 5 Comments

Last week someone commented on a blog entry I posted almost a year ago.  Not only did this person’s user name give me a big smile (frankelstache), the comment they left did as well.  “I googled something for a work project and ended up here. Fu&*ing a’, man. Very inspiring and wise words. I know it’s been a year since you wrote this, but I hope things are only looking up.  Good luck.”

I re-read that blog entry and preceded to re-read every post I’ve made in the last year plus of blogging.  It has been two years since the red shirt experience that launched me into the crazy world of entrepreneurship.  Over the past 24 months, I have experienced the highest of highs and the lowest of lows.  I have met many new friends and become even closer to current ones.  And I have most definitely learned a thing or two…or three.  I have learned a lot about starting a company (Lesson #1:  It’s all about cash flow).  But more importantly, I have learned a lot about life.  In looking back on my blog entries, I realized I had many nuggets of wisdom (is that arrogant to deem my own words wise?) hidden in my ramblings.  Here are five of my favorites.

1) Don’t sit around waiting for your real life to begin.  Your real life is now.

2) It is not about what keeps you up at night, it is what gets you out of bed in the morning.

3) A random high 5 can go a long way in someone’s day.

4) When it comes to positive change, the responsibility is all of ours.

5) Regardless of your situation, you can always find a few sources of optimism and things for which to be grateful.

If you have some similar words of wisdom to share, I would love to hear them.

→ 5 Comments

Posted in Uncategorized

Tagged , ,

Top 10 Benefits to Being a Poor Entrepreneur (Especially in a Down Economy)

Posted on March 10, 2009 by Jeremy Litchfield| 6 Comments

If I have learned anything from my time as an entrepreneur, it is how to integrate Atayne into nearly any conversation.  Just as it is guaranteed that I will bring the conversation around to Atayne, it is equally assured that someone will eventually say, “Tough time to be starting a company.”

No doubt it is a tough time to be starting a company.  Although, is it ever really easy for the majority of us who are not children of millionaires?

But I don’t like to focus on the negative.  There are many benefits to being a poor entrepreneur, especially in a down economy.  Here is my top 10 list.

10.  Free Beer.  When people find out you recently launched a start-up, they insist on paying when you are out for beers.

9.  Most basement living is rent-free.  Since I started Atayne, I have lived in the basement of three different friends totaling almost 12 months of free rent. (Thank you all!)

8.  There is such a thing as a free lunch.  See number 10 for explanation, substitute lunch for beers.

7.  People send you random gifts.  One of my favorites is banana bread from an Atayne fan in Chicago.

6.  No need to fret on a daily basis about the 50% decline in your retirement portfolio.  Wait, what’s a retirement portfolio?

5.  Working in your pajamas.  No explanation required.

4.  You no longer have to report to that jackass who knows nothing.  You now are the jackass who knows nothing.

3.  It is hard to beat the commute from bedroom to home office, especially on rainy or snowy days.

2.  Free Beer.  It’s a good one and deserves to be mentioned twice.

1.  Zero concern of getting laid off due to corporate “right-sizing.”

For anyone who is inclined to start your own thing, it is never going to be the right time.  The economy may be the excuse now, but fear will always help you find another reason in the future.

“You gain strength, courage, and confidence by every experience in which you really stop to look fear in the face. You must do the thing which you think you cannot do.”
-Eleanor Roosevelt

So, consider taking that jump; you might find happiness in some unlikely places. After all:

“Happiness is not a goal; it is a by-product.”
-Eleanor Roosevelt

→ 6 Comments

Posted in Uncategorized

Tagged , , , , ,

Back from the Brief Silence

Posted on September 10, 2008 by Jeremy Litchfield| 11 Comments

For those of you who follow my blog and look forward to my posts (I am pretty sure there are a few of you out there other than my mom, dad, and girlfriend), I apologize for the recent silence.  Despite the lack of noise on the blog, things have been very loud and exciting in the house of Atayne.

Inventorying in the basement

Inventorying in the basement

The day that I have anticipated for the last 15 months finally arrived: at 9:30am on Thursday, August 21 the first shipment of Atayne product arrived!  The following 4 days I spent nearly every waking hour inspecting and inventorying the shipment.  This was not and easy task as I was confined to a small room, in a basement.  Just one of the many joys of being an entrepreneur.

Plastic waste from a small product order

Plastic waste from a small product order

The shipment acceptance process was an eye opener.  Upon opening the first box, I realized that every shirt was individually wrapped in a plastic bag.  Every single shirt!  ”What waste,” is all I could think about as I opened each bag.  But then I realized this was yet another opportunity to create a positive change, industry-wide.  My goal is to work with my already socially responsible manufacturer to find a better way to ship, but still protect product from water damage during shipping.

My first thought, “How does Patagonia (one of the greenest companies out there) handle shipping?”  I soon learned from a former Patagonia employee that all Patagonia products are individually shipped in plastic (from manufacturing site to retail).  An opportunity for Atayne to raise the bar to benefit people and planet! I love it.

The Atayne Event Set

The Atayne Event Set

The following weekend (Labor Day) Atayne officially launched sales at the Virginia Beach Rock n’ Roll ½ Marathon.  We loaded our event set and 5 bins of product into the Civic Hybrid (a very tight fit) and headed out for the weekend.

Not really knowing what to expect, I would say it turned out to be a great launch.  We sold Atayne tops to strangers who had never heard of Atayne — and who were not hard-core environmentalists.  People were genuinely excited about the brand and products. (Two people left our booth wearing the shirts. And several planned to wear them during the half-marathon.)

To my Atayne investors, nothing indicated excitement more than consumers willingness to pay full retail price for a premium top — in the face of heavily discounted apparel by brands like Nike and Brooks a few steps away, AND in the midst of an economic downturn.

On top of that we raised nearly $500 on behalf of Tommy Neeson.  Be sure to check in on Tommy. He is now in Connecticut, arriving in NYC on September 11.

Mike after the Dances with Dirt 50k Race

Mike after the Dances with Dirt 50k Race

And to cap off a busy 10 days, I (and Atayne) moved out of the basement!  We are now above ground with a great new home office and Mike is officially my sugar daddy (I think I should be scared).

On the horizon: Web sales coming as soon as we can get the technology sorted out as well as more events.  Make sure you check the schedule online so you can stop by and visit.

Once again thanks for everyone’s support.

“Unless someone like you cares a whole awful lot, nothing is going to get better.  It’s not.”
-Dr. Seuss, The Lorax

→ 11 Comments

Posted in Uncategorized

Tagged , , , ,

What Keeps You Up At Night?

Posted on June 25, 2008 by Jeremy Litchfield| 37 Comments

Last Monday (June 16th) I had my first big investor meeting. I had spoken with many people along the way and secured a few verbal commitments, but this one was more formal. I had the opportunity to stand in front of 15 well established and successful Washington, DC based entrepreneurs and convince them their next investment should be with a company that has yet to make its first sale. This was for the big money, the amount that would really get Atayne off the ground.

Overall, things went pretty well. Being an unwavering optimist, I walked into the event hoping to hit a home run and walk away with $350,000 in signed checks. Those expectations are not realistic when you are asking people to hand over such substantial sums of money. However, there is no doubt I hit a triple. I have a man in scoring position, and now I just have to step back up to the plate and knock him in.

But I want to get beyond the outcome of the event. The point of this post is to talk about one simple question that one of the attendees asked me, “What keeps you up at night?” My first thought, “What doesn’t?” I could have named a long string of things, but I spared the room of my stories that lead to sleep deprived, coffee fueled days. I mentioned a couple things, and we moved on to other topics.

I should have known that the question was foreshadowing what was to become of my evening. Mentally and physically exhausted, I laid my head on my pillow at about 11:45pm that night. And it was like I turned on a switch, a switch that instantly filled my head with a wide array of thoughts. I lay there replaying the entire evening in my head: I could have done this, I should have said that. We all know hindsight is 20/20, but knowing does not prevent one from thinking how things could have played differently.

For 5 hours I lay there. When my alarm clock went off at 4:45am to start another day, I did not want to get up. I wanted to make up for the 4 hours of sleep I had gotten the last two nights combined. But I didn’t stay in bed. I made the very hard first step of the day. And after a quick run, a shower, and few cups of coffee, I was once again energized and filled with passion for the 16+ hour work day that awaited me.

Why do I tell this story? It is not to say that a run, shower, and coffee give me my energy (although they all sure do help). I tell this story because as I was taking step 1, then 2, then 3, I thought to myself, “Does it really matter what keeps me up at night?” The answer to me was simple, “No.” Staying up at night is easy. I do it once or twice a week and ultimately the reason is always different. What is really hard: taking the first step of the day after being up all night. Getting out of bed and putting every ounce of energy and passion into building a dream. That is the hard part.

So in my mind I should not have been asked, “What keeps you up at night?” but rather “What gets you up in the morning?” Because getting up in the morning is the true test.

I hope that you are now asking what gets me up in the morning. Here are just a few things:

  • An advisor who forgoes paid work to fly across the country on a red eye, sleep on a basement floor, and then fly back across the country at 6am in order to support me at the investor dinner.
  • Friends who make room in their basement for another “son”, adding to the 4 sons they already have. And a college buddy who has recently volunteered to support me financially until the dream takes off, so that I can move out of the basement.
  • A girlfriend who has spent countless hours reviewing and editing multiple versions of business plans, executive summaries, website copy, and blog entries.
  • A family that understands why I had to miss the first family vacation that we have planned in over 20 years.
  • The people I tell the Atayne story to and then they pledge to be the first customer.
  • The strangers and soon to be friends who read and comment on my blog.

These can all be simplified to one thing, PEOPLE. The people who believe in Atayne. The people who believe there is a better way to do things. The people who believe that if you do good by people and the planet, profits will follow. Every day that I struggle to take the first step out of bed in the morning, it becomes easy when I think of all those people that believe in me. And I refuse to let them down.

Over the next couple weeks I need to close on a substantial amount of financing to bring Atayne to the market on schedule. I have to convince people with the money that I don’t have, to put it in my pocket. Now more than ever is the time to show these potential investors how many people believe in Atayne. So, just as I have asked investors to show their faith in me through direct investments, I’m asking you to voice your support by posting a simple response to this entry – “I BELIEVE AND I WILL BUY.“ To add even more impact, include your city and state and forward to friends you think will believe.

And always remember:
“Dreams are like the paints of a great artist. Your dreams are your paints, the world is your canvas. Believing is the brush that converts your dreams into a masterpiece of reality.”
-Unknown

→ 37 Comments

Posted in Uncategorized

Tagged , ,

Give Someone 5

Posted on June 13, 2008 by Jeremy Litchfield| 5 Comments

One of the things I love most about running is that for about an hour each day I can step away and exist in my own little world. And it is so simple. I throw on my shoes and headphones and head out the door. No one can bother me or interfere with my time. I can lock out everything and deal with only the thoughts I choose to keep in my head.

While this is an important release for me, and most people need “their time” each day, I think it is important to not fully block yourself out from the rest of the world. In the words of Mike Marriner, “Expand your scope of what the world holds. Rent that independent documentary you usually wouldn’t rent. Talk to that person in the coffee shop you normally wouldn’t talk to. It’s so important to keep your eyes open. How can you find what you’re passionate about when you only see 10 percent of what’s out there?”

If you have read any of my other posts you might be thinking, “Where the hell is he going with this?” Well, I am thinking the same thing as I write. But I guess I am starting here because of something that happened to me a couple weeks ago on a run, the time of the day when I fully close myself off from the world.

It was a pretty typical Thursday evening run, 6 miles. Not a whole lot was different from the 6 miles I did the day before, except that I happened to be in New York and was running through the Williamsburg neighborhood of Brooklyn. For those of you not familiar with Williamsburg, many residents describe it as “an exclusive area of artists and hipsters.”

When I started the run, I just knew it was not going to be a good one. My legs felt flat and with every step I took my stomach told me to duck into the next pizza place to grab a slice. I continued to struggle through the first 4 miles and then something happened. About 100 feet ahead I noticed a mother and her young daughter walking toward me. The girl, about 4 years old was bopping along, and when we got about 50 feet away she put out her hand. I wondered what she was doing, and then it hit me. She was waiting to give me 5!

At first I was a little unsure of what to do. Should I take a quick left and avoid the whole thing? Should I just pretend I didn’t see her? It amazes me that I had those thoughts, because the answer was simple – stick my hand out and give her 5. And when I did, everything changed. My tired legs and hungry stomach suddenly become unnoticeable. All of a sudden I felt great. That little girl, who I will probably never see again, gave me a spark. She changed my whole perspective. I closed out the final two miles feeling great. And it was all because some little girl gave me 5.

So why did I feel the need to share this story? I think it is because everyday we all encounter times when we can turn someone’s day around if we just keep our eyes open and heads up. Whether that person is a friend, family member, acquaintance, or stranger, we often forget how simple gestures can have a huge impact on someone.

  • Mom and dad can give 5 minutes to play catch or dolls with your kids
  • Acquaintances can give 5 simple words “How is your day going?”
  • Strangers can give 5 or a smile to someone passing by

This being said, I am probably one of the worst culprits. With launching Atayne comes a lot of challenges and high levels of stress. It is very easy to get tunnel vision with a focus solely on the company. I often find myself walking down the street unaware of my surroundings. For all I know I could have walked by 100, metaphorical or literal, high 5s. I addressed this briefly in my Waiting for My Real Life to Begin post. Part of the joy of entrepreneurship is enjoying the journey along the way.

This does not just apply to entrepreneurs. Just remember, “Life is a journey, not a destination” (Ralph Waldo Emerson). Enjoy the journey one step and one high five at a time. I’d love to hear your high 5 stories – as giver or receiver.

→ 5 Comments

Posted in Uncategorized

Tagged , , , ,

Waiting for My Real Life to Begin

Posted on May 19, 2008 by Jeremy Litchfield| 4 Comments

On April 30, I went to see Colin Hay in concert. If you haven’t heard of him, he was the lead singer for Men at Work, the 80s band best known for their song “Down Under” (“I come from the land down under”). Since his days with the band, Colin has launched a fairly successful solo career, which includes a song on the Garden State soundtrack and a couple cameo appearances on the TV show Scrubs. (Okay, yes, I also happen to be a Zach Braff fan.)

This post is not to promote Colin Hay, although I would recommend you check out his music: it is to thank him. Thank him for making me realize that the only thing standing in the way of my dream is ME.

One of my favorite songs by Colin Hay is “Waiting for My Real Life to Begin.” If you casually listen to the song, it appears to be somewhat of a love song. But when you truly hear what he is saying, you realize it is much more. I did not realize that until I saw him perform the song.

As he strummed the opening guitar medley, Colin reflected on the days when he was an international music superstar playing in front of tens of thousands of fans. Now he finds himself at The Ridgefield Playhouse in Connecticut performing for a few hundred. He asked, rhetorically, “If I never make it back to the lofty peaks of super stardom, is playing for the likes of yourselves, is it good enough?”

Just before he broke into lyrics, he answered his own question with a very abrupt, “No.” And then, Colin moved seamlessly into the song, starting, “Any minute now, my ship is coming in. I keep checking the horizon…”

Colin’s unexpected commentary caught my attention, and so I listened to the song deeply and from a very different perspective. As he started the second verse, “When I woke today, suddenly nothing happened. But in my dreams, I slew the dragon…,” I began to reflect on the last year of my life.

In May 2007, I made the decision to pursue my dream of entrepreneurship. I was going to combine my passions for running and the environment through my company Atayne. During the summer I started to build the foundation for Atayne and fulfill my final obligations with my (now former) employer, RedPeg Marketing.

As the summer came to an end, so did my days working for someone else. I picked up some consulting work to help pay the bills, but I was now officially dedicated to building Atayne. I spent the next few months reading, researching, networking, writing my plan, and participating in business plan competitions. Except for the hour and a half each morning for my daily run, nearly every waking hour was spent building Atayne.

By the late fall/ early winter, I had started to meet with several potential investors. Whether it was friends, family, angels, or small private equity and VC firms, people loved the idea and thought the plan was very solid. The more meetings I had, the more I knew I would get the seed funding I needed, and in just a few short months Atayne products would be in markets across the country. When I combined this feedback with the fact that Atayne had been a finalist in the two business plan competitions I entered, there was no doubt in my mind that “my ship is coming in.”

However, in the late winter/early spring my attitude started to change a bit. I found myself growing increasingly frustrated with my situation. It was March of 2008, and I was approaching the year anniversary of the genesis of Atayne. I started to question myself and ask almost everyday what I have accomplished during this time. Many days the only answer I could provide was “I moved into a basement and wrote a business plan.” It did not seem like I had moved forward much in the last 10 months.

I started to come up with every reason imaginable why I was in this situation, from lack of money or a business partner to not finding the perfect materials or manufacturer. While these things definitely had an impact on my situation, they were not the root cause. None of these excuses or the many others I came up with, were the real reason(s) I did not have product, a website, or even a prototype in hand.

As the song came to an end and Colin left the stage, I realized what was problem was. I was “waiting for my real life to begin.” I was looking out to the horizon waiting for the Atayne ship to come in. Instead of living in the present moment, I was living where I wanted Atayne to be a year from then. I was just waiting and hoping for something to happen to take me there, to take me to my real life.

I don’t think I am alone in letting this happen. I think we humans (or at least Americans) get so consumed by the future that we forget to live today. And then we look back on our lives, and wonder, “Where the hell did it go????” We also fear taking big steps into the scary unknown, so it is easy to find lots of excellent reasons to wait and hope for the ship to come in – versus taking the plunge.

In the few weeks since the concert, I have made more progress with Atayne than I did in the prior three months (website content drafted, first sample being tested, this blog started, prospective angel dinner planned with a clear “ask” to be made). I am now well on my way to officially launching Atayne in July ’08. Please look out for us on the web (www.atayne.com) or in specialty running stores in the Washington DC area.

So thank you Colin Hay. Whether or not that was your intended interpretation, you opened my eyes and made me realize my real life is now.

→ 4 Comments

Posted in Uncategorized

Tagged , , ,

It’s Going to Be a Marathon…

Posted on April 29, 2008 by Jeremy Litchfield| 1 Comment

My name is Jeremy and I am getting ready to embark on one of the greatest races of my life. In the last year and a half, I have run four marathons (Marine Corp, Flying Pig, Chicago, and Philly) but I think this next one is going to be more like an ultra.

Over the course of my time as a marathoner, I have grown increasingly frustrated with the status quo of the apparel industry and more specifically performance apparel. Every time I went to purchase a new performance garment, I felt like I was compromising some of my most important values.

On one side, performance apparel is great. It wicks moisture, drys quickly, and is highly breathable. This all adds up to help you perform better by preventing your body from over heating. For some more background on performance apparel and moisture management, check out this article.

Unfortunately, on the other side, performance sportswear is highly unsustainable and uses chemicals and materials that are harmful to people and the environment. Consider a few things:

  • The primary fabric used (polyester) is a by-product of petroleum, a non-renewable, energy intensive, and somewhat controversial resource.
  • Polyester is not biodegradable and when it is discarded, it ends up in a landfill where it will sit for thousands of years.
  • Polyester for performance sportswear is often treated to enhance moisture management and inhibit bacteria growth. These treatments, ranging from chemicals to heavy metals, are very questionable in terms of their safety for people and the environment.

The list could go on, but I will stop there because despite this gloomy analysis there is a better way. I decided I was no longer going to compromise my environmental and social values, and I was going to change the game. Atayne is the change.

This posting is my first step in this new race, the race to create the performance sportswear organization of the future. The race where athletic performance and sustainability run side by side. The race where athletes impact the sport not the planet. The race where you compromise nothing and attain anything.

I hope you join me on this race and follow me on my journey through entrepreneurship. I hope you check in next week where I will reveal the story behind the title of the blog and why Atayne will never make a red shirt.

→ 1 Comment

Posted in Uncategorized

Tagged , , , , , , ,