Stacey Durham
Children's Learning and Literacy
Company Details:
BusyBuckaroo Inc. promotes learning and literacy for children while encouraging the activities that children enjoy most.
Challenge: Other Problem
In January 2005, I started a company called Kiddywumpas. The business was designed to promote learning and literacy for children, while encouraging the activities that children enjoy. With that in mind, I authored a children’s book series, The Adventures of Ima GoodEgg!TM, which encourages children to help others while cultivating the child’s imagination. Over the course of nearly 3 years, I have spent my savings trying to get the business up and running. My savings and salary along with donations from friends and family helped with publishing costs, print materials, marketing materials, travel expenses, website and logo creation, an egg costume, and inventory. With limited financial resources, I was only able to publish the first book in the series. I have attended a couple of literary functions, but mostly attended craft shows. My full-time job is definitely in the way of my business reaching its full potential; imagine if I spent the same time and energy on my business that I spend for my current employer! Through my travels, I have had a positive and overwhelming response to the products. I attend a few functions each year, depending on my work schedule and financial restrictions. And, just when I thought the momentum had swung my direction, I learned that a person in another state was using my company name and trademark and they had registered their trademark as well. I sought legal advice for infringement, and even with a strong, winnable case ahead of me, the cost of litigation for years to come dissuaded me from moving forward. I have two product lines and cannot give up the dream in its infancy stage. After all, perseverance is engrained within the very core of my being.
The Solution:
Knowing that litigation would take years, and potentially drain all savings that I had remaining, I decide against pursuing a legal battle for Kiddywumpas, dissolve the corporation, and start a company with a new name but with the same vision. In October 2007, I filed the organizational documents for Busy Buckaroo Inc. It’s costly to start a new business. But…it’s even more costly to start that same business TWICE. Everything I saved and used for starting Kiddywumpas is gone. I am basically starting over. Friends and family have contributed the first time; I do not feel as though I should ask them to contribute for the ‘second’ time around. The only thing I have going for me is the knowledge that my products are established and have a positive impact on the children and families who use them. I just need to reinvent my image with a new name. Along with starting over comes all of the financial ramifications that took so long for me to save and build up for with the first business; these expenses including new logos, new print materials, a new website, and new marketing plan. Kiddywumpas had two original product lines in commerce with several more in the pipeline, including a possible cartoon of the character based on my books’ adventures. Now, Busy Buckaroo must pick up where Kiddywumpas left off. I am confident that my business has explosive potential with funding being the major obstacle.
