A Million Bucks in A Month
Business Week:
At about 8 in the morning on June 16, a young man named Remi Frazier from Fort Collins, Colo., sat down on a bench in Manhattan’s Columbus Circle, glued a cell phone to his ear, and spread a New York City map across his lap. By early afternoon he had launched an unlikely entrepreneurial project to make $1 million within one month, using only a cell phone, a digital video camera, and a $100 bill. His self-imposed set of rules also meant he had made no advance contact with anyone in the city.
To achieve his goal, Frazier, 27, planned to build a volunteer network of business consultants, conceptualize and design a product, conduct market research for that product, and finally manufacture and sell it on a wide scale. He would have 30 days to complete what a startup usually takes years to do.
Earlier that morning on the plane ride in, Frazier had decided on his product: a multipurpose utility tool he dubbed the Mantool, which he describes as similar to a Swiss Army knife or a Leatherman, the real difference being that a customer will be able to customize each element through a Web site.
Will he succeed with his Mantool Custumizable Multitool?
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