Q&A: Little Nikita's Big Business Bringing overseas culture to a new home--and a new business
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Some entrepreneurs decide their destiny early on. For NikitaSchottman, it has been eight years in the making, and he's only13.
Schottman, who immigrated to the United States from Russia fouryears ago, resides in Chico, California, with his parents. When hewas 12, he attended a Youth Entrepreneur Camp sponsored by theStudents in Free Enterprise (SIFE) team at California StateUniversity, Chico. Armed with the business know-how he got from theSIFE team, Nikita started his business, A Little Bit of Russia, andbecame profitable his first year.
Did you always want to be anentrepreneur?
Schottman: Yes, I wanted to start my own business when I wasin Russia. At the age of 5 I was going to buy some oranges and asqueezer and squeeze juice, but I decided not to because Ididn't think I'd make that much money. At 7 I rented mybike out to kids.
How did you get started with yourcurrent business?
Schottman: My mom read about the SIFE camp at Chico State inthe newspaper and thought it was a good idea to go. On the thirdweek [of the camp], we're supposed to pick a business, and Icouldn't think of anything. At that time, my grandma was hereand she brought a whole bunch of Russian things. After [listeningto her] talk about it, I decided to do that as my business.
What kind of products do yousell?
Schottman: I sell Matreshka dolls--they're littlenesting dolls, the wooden [ones] that open up and have a smallerone inside it. I also have Birch wooden boxes. You can getMatreshka dolls anywhere in Russia, but the Birch wooden boxes youcan only get in Siberia--that's where I'm from. They allhave special designs on them and they're very pretty. Not manypeople sell these, and the ones that do charge about twice as muchas I do, or more. They also don't have the birch, so I have areal advantage.
Where do you sell youritems?
Schottman: Basically I sell them at craft stores and fairs.In Chico on Thursday nights we have a market fair that I'll beselling them at. I'm also going to a beach festival--I thinkI'll make a lot of money there.
Describe a typical day for yourbusiness.
Schottman: It depends. Right now I'm working on my Website, http://firststepsite.com/a-little-bit-of-russia.com/index.html.The day before a festival, I spend about three hours getting all myprices checked, getting my stuff together and making sure mydisplay board is ready.
What plans do you have for thefuture?
Schottman: I want to go to Harvard or Stanford. I'mprobably not going to keep this business forever. I'll thinkI'll start some other kind of big business and still have myown company. For now, I want to open a store eventually. I want toget enough money to go to college and get [graduate degrees] inbusiness and law probably.
