Paul and Alison Martin, who met while they were students at Stanford University, decided to launch a Web-based baby-product business shortly after the birth of their twins, Ainsley and Sierra. The couple launched Noss Galen Baby in February 2004, just before Paul graduated.
By May 2005, Paul said, the site was profitable enough to support the family.
The Martins had some distinct advantages. Paul had programming and start-up experience from a stint at PayPal, so he built and maintains their Web site. The couple also moved from expensive Menlo Park, Calif. to more reasonable Albuquerque, N. M. which keeps down their living costs.
Perhaps even more significant, the Martins were able to capitalize their business with stock-option money from Paul's time at PayPal. But Paul said initial inventory costs were just a few thousand dollars, and he could have gotten a small-business loan or worked a part-time job to keep the venture going until profits came in.
"The most important thing is to have the mindset that you're going to make it work, that you're going to learn from your mistakes," Paul said. "It may take longer than you think. There were difficult times when we were wondering if we were ever going to turn the corner."
The Martins' business isn't the only thing that's expanded. The couple are expecting their third child in March.
If you find a concept that works, you might make additional money teaching other people what you know. Tamaira Sandifer of Sacramento, Calif. launched a service called Fun Mail for Kids that sends customized packets, complete with stickers, personalized letters and crafts projects, to kids via the U. S. mail. Once that was a hit, she wrote an e-book, available for $25 on her site, to teach others how to run similar businesses on the Web.
As with any small business, it can help to draft a business plan. The U. S. Small Business Administration has a free business set-up guide on its Web site.
