Hi, need to submit a 250 words essay on the topic Entrepreneurship 320.complete factory that was later named, “North Shore Soap Factory.” Market gaps were identified, and the products were designe

Hi, need to submit a 250 words essay on the topic Entrepreneurship 320.

complete factory that was later named, “North Shore Soap Factory.” Market gaps were identified, and the products were designed to capture prospective consumers. A spa inspired boutique was established. Product differentiation was undertaken after more original recipes were established. The two founders of the North Shore Soap Factory attribute their success story to the following reasons.

Richard Schmelzer realized a potential business empire from an idea generated by his wife Sheri and their kids. The idea relied on decorating shoes with rhinestones and clay charms. Sheri Schmelzer is a witness that entrepreneurial skills can sprout from creativity, timing, and patience. Rich took the business idea and created Jibbitz. The company specializes on producing accessories for Crocs shoes. He attributes the success to timing. His business was defined by the ability to capitalize on ideas no matter how small they appear. Entrepreneurial skills do not necessarily arise from strong business ideas, ideas as small as those of Rich’s wife and kids bear potential success. Jibbitz success story revolves around the spheres of capitalizing on potential business ideas and establishing the appropriate time to capture the existing market trends (Hutt p