Business 2.0: As an eager young buyer for gourmet market Cowan & Lobel in Albany, N.Y., Rachael Ray spent hours spying on customers, looking for tipoffs to new trends. One odd pattern she noticed again and again: Many well-to-do shoppers would bypass the produce section and head straight for the prepared-foods counter. That gave her an idea: Why not run a cooking class for harried consumers, showing them how to make gourmet meals in 30 minutes flat?
To Ray, it was just a small way to prop up grocery sales. But a decade later, that simple notion has turned Rachael Ray into a brand on par with Martha Stewart and created a small media empire worth a reported $10 million. Since its debut in 2001 on the Food Network, Ray’s top-rated cooking show, 30 Minute Meals, has spawned three more Ray-hosted shows on the network, 16 cookbooks, a self-titled national magazine, and even a syndicated daytime talk show.
One-man Brands [Business 2.0]
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Youngentrepreneur: BusinessWeek put out a list this week of their top European Young Entrepreneurs for 2007. They looked at business owners who were under 25 years old, were making an impact, and were inspiring others to do so as well. Most of the featured entrepreneurs are in technology related businesses and are breaking from the traditional past of their deeply routed cultures.