Progress is Possible

There are few places in the world where you can be surrounded by more entrepreneurs than at the Inc. 5000 conference. This annual gathering of the fastest growing private companies in the United States highlights that progress is possible.

Please note that I didn’t say progress is:

– easy

– guaranteed or

– without risk

Progress is possible regardless of industry. Regardless of geography.  Regardless of education (or any other demographic factor).

A good example of this entrepreneurial drive is Erick Armstrong and his company, Her Hair Company, Inc. The company, founded in 2012, offers natural hair extensions, wigs, etc.  It is a very competitive industry that is rapidly evolving.

inc 5000

He was discussing the natural hair business with a friend and thought there might be something there. He watched the 2009 Chris Rock documentary “Good Hair” and became even more convinced that an e-commerce solution was possible.

He learned that the majority of natural hair was sourced in India and China. At this time he was working as a Disc Jockey. Several of the patrons were from India. Two weeks later he was in India learning the business at the local level. Shortly thereafter he was in China adding to his knowledge base.

As they say the rest is history. Did Armstrong take a risk? Absolutely. Have there been challenges?  Absolutely.

Number 253 on the Inc. 5000 list? Absolutely.

You can learn more about Her Hair Company at www.herhaircompany.com.

In addition to blogging here, I also tweet regularly about topics of interest to ESOPs. Follow @twitter 

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The subject matter in this communication is provided with the understanding that Principal® is not rendering legal, accounting, or tax advice.  You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.

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