Big Plans for a Small Gadget
This inventor hopes to straighten out your knotty problem.
Julie Johnson Barkley loved her iPod but was frustrated by its frequently tangled earbud cords.
Determined to invent a solution, she raided her son's toy box and her sewing kit. Wielding a glue gun, the part-time Houston dental hygienist put together a homemade model of what would become the Earbud Yo-Yo.
Covington Creations, named for Barkley's Louisiana birthplace, was incorporated a year ago. By the end of 2009, Barkley expects her business to be in the black.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The Earbud Yo-Yo is a cable organizer, about 1 square inch in size, that retails from $11 to $17. It works on earbuds for any device -- an iPod, Nintendo DS or smart phone, for example. Barkley knew she was on to something when she took designs to a patent attorney. "Right away, there was a little frenzy in the office," she recalls.
From there it was on to a prototype maker in Austin, Tex., then a manufacturer in Taiwan. In between, Barkley made time for a two-night class on starting your own business. Joining the Consumer Electronics Association gave her the opportunity to show the Yo-Yo at the Consumer Electronics Show, tapping into the event's considerable publicity.
Designing the Yo-Yo, stocking inventory and setting up a Web site cost Barkley about $30,000 of her own savings, plus six figures more from a family friend. The payoff could be coming soon. The Earbud Yo-Yo is sold in 34 Fry's Electronics stores, and Barkley is hiring a national sales force. "I'd like to see it go worldwide. Right now, Best Buy is my goal."
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
Anne Kates Smith brings Wall Street to Main Street, with decades of experience covering investments and personal finance for real people trying to navigate fast-changing markets, preserve financial security or plan for the future. She oversees the magazine's investing coverage, authors Kiplinger’s biannual stock-market outlooks and writes the "Your Mind and Your Money" column, a take on behavioral finance and how investors can get out of their own way. Smith began her journalism career as a writer and columnist for USA Today. Prior to joining Kiplinger, she was a senior editor at U.S. News & World Report and a contributing columnist for TheStreet. Smith is a graduate of St. John's College in Annapolis, Md., the third-oldest college in America.
-
Stock Market Today: Stocks Sizzle Ahead of Apple Earnings, Jobs Report
The Nasdaq outperformed in a strong day for stocks thanks to Qualcomm's post-earnings pop.
By Karee Venema Published
-
Carvana Stock Surges on Surprise Profit
Carvana stock is rallying following a strong first-quarter earnings report. Here’s what you need to know.
By Joey Solitro Published
-
403(b) Contribution Limits for 2024
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Published
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Published
-
Best Foreclosure Sites for Finding Properties
Making Your Money Last Wondering how to find foreclosed homes for sale for your next residence or to flip for a profit? These websites will guide you to foreclosures and real estate-owned properties to buy.
By Bob Niedt Last updated
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
By Vaishali Varu Last updated
-
How Much Life Insurance Do You Need?
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life-insurance needs.
By Kimberly Lankford Published
-
When Is Amazon Prime Day?
Amazon Prime In 2023 Amazon had two Prime Day events — one in July and another, called Big Deal Days, in October. We expect 2024 to follow the same schedule.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published