These ladies made their first million using a simple business model. Netflix for dresses. Now fashion divas and aspiring fashionistas of all budgets can wear the latest runway styles without breaking their wallets. What I found most interesting about these two Harvard business grads, was the fact that they didn’t have a business plan when they started. “I was like ‘I’m at Harvard Business School.  I have an idea.  Can I come and have five minutes of your time?’” said Hyman. Really? That’s all it took to start?(notice I said start) LOVE IT! This is a perfect example of tapping into your network. Have you used their services? Do you have any ideas of other products that can use this rental model?

Who: Jennifer Hyman Age 29 & Jenny Fleiss Age 26

What: Rent the Runway

When:2009

Where to find them:

Website: Renttherunway.com

Facebook: Facebook.com/renttherunway

Twitter: @renttherunway

What people are saying about them:

Bringing the Carrie Bradshaw experience to budget fashionistas

Rental Businesses Make Leasing Dresses Fashionable

Getting married? Need a designer dress? Meet Rent the Runway Wedding Dresses

The “Do you Know” series is where I showcase established entrepreneurs. Many people know their products and services but not the people behind them. Click here to read about other entrepreneurs in this series.