Building a million-dollar business online is sometimes easier than one may think. Sometimes, you don’t even need a fancy degree, sound experience, or/and any other special tools and services. Sometimes, what you need to start a very successful company is just passion, desire, persistence, and … some faith in God. This story is a bright example of all of this. It’s about a monk called Father Bernard McCoy who started a very successful online store that still brings millions of revenue to his abbey…
This Is How To Build A Million-Dollar Business Online From Scratch
LaserMonks.com is a successful business for low-priced printer cartridges and other office supplies established by a Cistercian monk – Father Bernard McCoy. He has claimed that the century-long tradition of writing and copying manuscripts by the monks placed the beginning of this flourishing multinational business. Today, LaserMonks.com has clients from around the world, including companies such as Morgan Stanley, the US Forest Service, and other renowned businesses. The sales of the company have risen from $2,000 in its first year of business in 2002 to about $ 2.5 million in 2005. Despite the success, the employees of Father McCoy still wear their robes, sing chants, and eat in silence. They are located in a monastery in Monroe County, as part of the Cistercian Abbey of Our Lady of Spring Bank.
The monastery counts on its own income and doesn’t receive any financial support from the Church and the Vatican. The 8 monks work and live according to the canon in order to support the 500 acres of land and their Abbey. The maintenance costs sum up to around $150,000 and the remaining profit of this successful company is donated to various charities and foundations, such as helping children with HIV, orphans in Tibet, and other similar causes.
Father McCoy got the idea for starting this business when one day he ran out of printer ink and had a difficult time finding a replacement at a good price. “The markup on ink supplies is sinfully high, reaching in some instances 1,000 to 2,000 percent,” he states. Most of the producers of printers offered cartridges at unreasonably high prices. So father McCoy with the help of 5 other monks (an ex-pilot, chef, pilot, software developer, and agricultural specialist) began offering reconditioned and refilled printer cartridges at much lower prices that still allowed them to retain some profit. Even though there were certain legal issues with the large printer producers, this company became an official and well-established business.
How LaserMonks.com was started…
Everything began as a small, home-based business. The company started with its first orders for a couple of refilled cartridges a day and gradually grew to about 300 orders daily, with as many as 50,000 customers. Along with the cartridges, LaserMonks.com began offering other office supplies and meanwhile continue to accept requests for prayers online. They are currently offering printers and printer cables together with other electronic supplies. Father McCoy’s very successful company does little advertising, rather they count on their PR, media appearances, and public speaking throughout the US. This is how this small business idea became a company that reached $5 million in sales in 2006.
Starting a million-dollar business was not exactly a fluke. The monks had tried their luck in some other fields but none of them got as successful as their cartridge re-ill service. Some of them were: raising Christmas trees, renting property, and growing mushrooms. They also created a golf course at some point in time. I think, their entrepreneurial faith was just predetermined as they just had that business spirit that is crucial for any successful enterprise.
The success of Father McCoy and his monks entrepreneurs has quickly spread all around the world. There is even an entire book written about their story: Lasermonks: The Business Story Nine Hundred Years in the Making where you can read in much more detail about their thriving business, get step-by-step startup advice, get insider strategies, and uplifting spiritual guidance. It is so much more than just a business book, it’s a life coaching book about how to be successful.
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