Word: lowing
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Dates: during 2000-2009
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...Three years ago, Hill, who did a spell at the University of North Carolina School of the Arts, made the nervy low-budget martial-arts parody The Foot Fist Way; it managed a limited release in 2008 and grossed a meager $234,286. But the only people who really have to see it are producers looking for directors, and Foot Fist did get noticed. This was thanks in part to the movie's rising star (and co-writer and UNCSA classmate) Danny McBride, who enlivened last year's Drillbit Taylor, Tropic Thunder and the Rogen-starring Pineapple Express, directed...
...cost to Tayman? "Almost $9,800, all in," he said. As for revenue, he just sold his first display ad, for, well, the low three figures. But it's a start: "We've already reached ramen profitability." His math: he spends about $75 a month on server fees and other expenses...
Since they had no money, they quickly enlisted as their partner a former roommate, Nathan Blecharczyk, who had some technical skills. He built the website - which was initially aimed at cities with big conference calendars - and made it easy for hosts to offer low-rent lodging to visitors. AirBnB.com handled the financial transaction between guests and hosts and took 10% from the guests and 3% from the hosts...
...here again, a bad economy is the LILOpreneur's friend. Ito likes to say, "The cost of failure is cheap. It's so low, you can swing the bat way more times." In a bad economy, no one really notices or cares about more failure. That creates a better environment for risk-taking, which is the only way innovation occurs...
...same time, launching in a bad economy imposes a kind of discipline, forcing entrepreneurs to keep costs low and be smart about marketing and distribution...