TicketsNow was literally a college dorm
room idea that Mike Domek turned into reality when he left school and scraped up $100
— the minimum needed to open a business
checking account — to start the company in
1992.
Domek spent seven years operating offline,
during which time he earned enough money
through operations to build and launch a Web
site.
The idea for the business came from
Domek’s personal passion for live entertainment. He saw that the event ticket was
the gateway to those unforgettable experiences. In 1992, he saw a huge marketplace but no industry. The market was
inefficient and insecure. His business
model added the element of security but
was still inefficient, which spawned the
idea for a comprehensive database to
secure sellers’ inventory combined with
an e-commerce platform. The result was
TicketsNow.
When building a company by bootstrapping it, one big mistake can put you
instantly out of business. Everything has
to be evaluated thoroughly and focused
completely on return on investment.
That culture still remains with the company today.
Domek’s greatest obstacle was learning
how to grow and manage a business from
the ground up, especially with the number
of employees constantly changing. Managing
a company with no prior experience that
grew 1,600 percent from 2000 to 2007 was
the most challenging obstacle along the
way.
In 2008, the success of the company
attracted the attention of Ticketmaster,
and the company was sold as a result.
HOW TO REACH: TicketsNow, www.ticketsnow.com