Entrepreneur raises capital by…selling his last name

Entrepreneur raises money - Boomfish Wealth Group LLCI’ve talked before about the doom and gloom mind-set that has many would-be entrepreneurs giving up hope. (I’ve also told you to ignore the idea that “there are no more opportunities out there” to make your own success.)

Proof that not everyone is giving up on the entrepreneurial mindset is given in a recent CNN article covering one unusual entrepreneur.

Jason Sadler makes a living wearing t-shirts displaying the logo of a certain company for a day or week. His company IWearYourShirt, which he started in 2009, uses social media to spread the word about his clients. In 2011, Jason was making $250,000 in revenue and had hired five people. His clients even include big names, such as Starbucks, Zappos, and Pepperidge Farm.

As a small-business owner, Jason needs capital. He came up with an idea, albeit wacky, to auction off the rights to his legal last name to any company, which he will keep for all of this year. The only restriction to the online auction is that the name not be pornographic, religious, or political in nature.

The latest bid is from JLabAudio, a company that makes earbuds and headphones, for $34,500.

Jason plans to use the money raised from the auction to invest back into his business. We’ll see how well this endeavor turns out in the long run. Whatever the outcome, it’s refreshing to see that entrepreneurs are still alive and well in the U.S.

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