Here are two dude’s that just were not happy with the high end speakers that were available. Ethan Siegel and Gary Pelled are the guys who have created something new to the high end audio speaker industry. Talk about taking a great idea and finding a way to enter a market with a lot of competition. Here is Ethan Siegel, co-founder and CEO, explaining more on Orb Audio, what it takes to be an entrepreneur, and some advice.

What makes Orb Audio different/better than other providers?

Orb Audio’s direct business model allows us to provide a higher quality product and a better level of service than most of our peers. Our speakers are handmade using top quality audiophile components and beautiful steel cabinets, but our prices are about 1/2 of what you will find in stores. We also have a very well educated and intelligent group of employees and can offer our customers better service than they would get in most stores.

What does it take to be an entrepreneur?

You can’t be afraid to take a big risk, but you also have to be well prepared. To start Orb, my partner, Gary Pelled, and I both took out cash advances on our credit cards (interest free back in the days of easy money) and I cashed in my retirement account. But we didn’t do it blindly, we did quite a bit of economic modeling and forecasting to make sure we had enough cash to make it through the first year or two. We prepared many best, worst and normal case scenarios for expenses, sales, etc. to make sure that we just weren’t throwing our money away on a dream. We forecast how much it would cost to make our first production run of speakers, the various rates at which they might sell, and whether that could generate enough cash flow to make the second round of speakers. So, you can’t be afraid to take risks, but you have to be intelligent about it and not just let your passion for the product or idea rule the day.

Three words describing being an entrepreneur.

Thrilling, freeing and exhausting.

Any advice to aspiring entrepreneur?

Find something you love and see if there is a way to make money from it. With the internet, even small ideas can turn into big enough businesses. Then, plan, plan, plan and before you know it you will be your own boss.

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Ethan offers some top of the line advice and it’s something that GetYourBizSavvy pitches everyday. Ethan and Gary prove that you can do something you love, make money, and also keep up with competition.

And Bose thinks no one can keep up with them…not on Orb Audio’s watch.

Please check out Orb Audio’s website.