Forever young: Even a reluctant economy can't curb the drive and ambition of these young millionaires

Entrepreneur, Nov, 2001 by Nichole L. Torres, Peter Kooiman, P. Kelly Smith, April Pennington, Mike Besack, Jenny Kee

Ignoring the naysayers, Lange borrowed $50,000 in seed money from family and friends and opened a small office in New York City where she sold her made-to-order clothes to women by appointment. Word-of-mouth business was booming when, in 1997, The New York Times Style section did an article on Liz Lange's revolutionary look for moms. Lange's business exploded--and she realized how wrong those skeptic retailers bad been. Even now, Lange chooses not to wholesale her line to department stores, only to a select few boutiques.

With business bursting at the seams, Lange moved to a larger location in 1998 and still didn't have enough room for all of her customers. She s now running stores on New York's Madison Avenue and in Beverly Hills, California, as well as producing an online (www.lizlange.com).

This mother of two isn't close to finished yet. Plans include possible stores in London and Paris as well as more U.S. shops to increase her $3 million in sales.

ELIZABETH MARTIN, 38

E.L. MARTIN & Co.

HE'S BROKERED PRIME REAL ESTATE deals for Sean "P. Diddy" Combs and the Rev. Jesse Jackson. She found a hip new space for Ms. magazine. She's got plans to take her real estate firm national. Still, Elizabeth Martin can well remember the struggling early days of E.L. Martin & Co. Inc.

With a master's degree in real estate investment and development, she was working at a New York City real estate brokerage when she found her entrepreneurial inspiration: Women and minorities were being underserved and underrepresented by real estate professionals. "I could see there was a niche to be filled," she says. So, in 1992, Martin struck out on her own with $25,000 from family and friends-in the middle of a real estate slump. Capital and customers were hard to find, but Martin made it through, focusing on entrepreneurial and nonprofit minority clients.

Those hard days well behind her, Martin has branched out into corporate clientele and expects company sales to hit $6 million this year. She remains passionate about her niche. 'All of [my clients] are unique, which is why it's so important to understand their businesses to get a sense of where the best place is for them."

STEVE KREIN, 31

PROMOTIONS.COM

FATE WANTED PROMOTIONS.COM TO happen. Steve Krein (below, left) and Daniel Feldman were born one week apart, grew up in Cherry Hill, New Jersey, and went to the same high school They met in ninth grade when both were dating the same girl "We have no idea where the girl is," says Krein, "but we're together."

DANIEL FELDMAN, 31

The Internet promotions and marketing services company had its origins on a high school class trip to Walt Disney World in 1988. The two seniors were at the Space Mountain ride contemplating graduating and going off to different colleges. "We talked about one day we'd have to do something fun together and maybe even start a business," chair and CEO Krein remembers.

After meeting up again while working for a legal Web site, the pair collaborated on a successful sweepstakes-style promotion for their employer. In 1996, they took the idea, a computer and $30,000 from a friend and launched WebStakes.com "We got to the Internet very early, pre-gold-rush mentality," says president and COO Feldman.