Passage Five
“Everyone has an idea,” says 21-year-old serial entrepreneur Ben Kaufman. “Every day, people walk around going ‘Wouldn’t it be cool if...’. I want to harness those ideas and let people have a forum.”
Kaufman did that as the founder of Mophie, a start-up that makes innovative iPod accessories. But he needed to outdo himself. Instead of setting up a traditional display booth at last year’s Macworld convention, Kaufman handed out pads and pencils and invited attendees to sketch the products they wanted. Hundreds of people participated. Within 72 hours, Kaufman and his team had created three finished products, including one by 17-year-old Jared Fiovorich. The Bevy – a protective case for the iPod Shuffle that multitasks as a key ring, earbud wrap, and bottle opener - has outsold Mophie’s other products four to one. That kind of response proves Kaufman’s point: “Together we can all make better decisions.”
Kaufman started Mophie when he was a high school senior with an idea to produce the Song Sling, a case for the iPod Shuffle that you wear around your neck. Plenty of 18-year-olds have ideas; Kaufman made his happen. “I convinced my mom and dad to remortgage the house,” he says, “and they gave me the $185,000 in equity and let me give it a shot.” Says his mother, Mindy, “When you see someone who has a dream and a great idea, you don’t want to stifle it.”
The $39.95 Song Sling turned out to be a success, and Kaufman ultimately designed and manufactured 22 other products. In order to keep the buzz going, he says, “I needed to hit the shelf with a new product within four weeks after each new iPod model dropped.” This meant a lot of trips to the factory in China. To ensure that his exacting standards were met, he’d sit in front of the machines as the parts were coming out, saying “no,” “yeah,” “maybe,” “closer.” He pushed supervisors to speed up production times and stuck to his guns when they wanted to cut corners and raise prices.
What often motivates him, Kaufman admits, is danger. “Our accountant once called me in and said, ‘Ben, we’ll be out of money in two weeks,’ and I was like, Yes! That’s what gets me going.” Adds product engineer Peter Wadsworth, “There are two things that inspire Ben: lots of money and no money.”
Questions 21-25 are based on Passage Five.
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