SPARTA, Wis., Feb. 18, 2004 (PRIMEZONE) -- Father Bernard McCoy, the monk pioneer behind e-business company LaserMonks.com, has been named as one of Fast Company magazine's third annual list of "Fast 50" innovators -- individuals whose achievements have significantly advanced their companies or industries. The Fast 50 will appear in the March issue of Fast Company, the nation's leading magazine for management innovators, hitting newsstands on February 18. The list includes 50 exceptional achievers selected by Fast Company editors from more than 1,650 entries submitted by individuals in 30 countries and nearly every state in the union. Fr. Bernard was named in the Wild Cards category, devoted to unsung heroes and trailblazers that are fueled by passion, guided by integrity and committed to results.
"The Fast 50 are the idea elite of business, individuals with the vision and personal commitment to propel their companies and industries into the future," said Fast Company editor-in-chief John Byrne.
Contrary to popular understanding, monasteries are self-supporting. Fr. Bernard McCoy, O.Cist., Abbey Steward of Temporal Affairs, came up with the idea of selling discounted printing and imaging supplies online as a means of support for the Wisconsin-based Cistercian Abbey. Revenue generated would be used for operating expenses and the monks' modest living needs, with the rest going to charitable works throughout the world.
National office supply chains such as Staples, OfficeMax and Office Depot are a popular source for printer cartridges and copier toner, but Fr. Bernard realized that customers pay a significant markup, as high as 1,000-2,000%, when they buy retail. Many businesses, especially large corporations, don't realize what a substantial portion of their budgets is spent on these supplies.
"I am honored to be part of Fast Company's Fast 50, with its focus on innovation, creativity, leadership and vision," says Chief LaserMonk Fr. Bernard. "It was so exciting to think about the money that we could save businesses, churches, schools, and non-profits -- plus put food on our table and the tables of many others through charity. That's how the idea of LaserMonks was born. We endeavor to bring our 900 years of monastic tradition to bear on all aspects of LaserMonks, consciously marketing our products and molding our business and website with a focus on 'people benefits.' Through these efforts, we hope to build mutually beneficial relationships with all our visitors and customers, and turn e-commerce into a truly 'human' experience in the best sense of the word."
Fr. Bernard negotiated truly amazing deals with several major manufacturers, who were all very enthusiastic about working with LaserMonks. The e-commerce site, www.lasermonks.com, went from selling $2,000 in its first year of operation to over half a million dollars for 2003. LasersMonks' customers have typically saved 30% -- 60% on printing and imaging supplies. At only 40% savings, LaserMonks saved our customers over $300,000 last year. That's a lot of money to use for better things. The monks hope to triple their revenue next year, as well as expand their offerings to other necessary consumables. Businesses, schools, churches, and non-profits now have a cost-effective alternative to national office supply retailers. And LaserMonks is already providing funding for charitable works including shelters for the poor, abused women and children, and even providing computer training to orphans in Vietnam.
The complete list of the Fast 50 begins on page 79 of Fast Company. Profiles of the Fast 50, as well as all reader submissions, may be accessed online at the special Fast 50 Website at www.fastcompany.com/fast50
About Fast Company:
Founded in 1996 and published monthly, New York-based Fast Company (www.fastcompany.com) covers ideas, trends and individuals devoted to innovation and managing change in today's economy. The magazine is owned by Gruner + Jahr USA, one of the top-ranked magazine publishers in the U.S., reaching one of the largest readerships in America. Gruner + Jahr USA also publishes Inc, Child, Family Circle, Fitness, Parents and YM.
About LaserMonks:
LaserMonks is a wholly owned imaging supplies subsidiary of the Cistercian Abbey, based in Sparta, Wisconsin. Founded in 2001 by a team of enterprising monks, the company follows in the tradition of monastic business endeavors, uniquely blending philanthropy, spirituality, and enterprise to support a life of prayer and charitable service. LaserMonks offers quality-imaging supplies at a reduced price, having arranged significant purchasing discounts with top manufacturers of cartridges for printers and copiers. Revenues from LaserMonks are used to cover the monks' modest living expenses. The rest is used for charitable works throughout the world. For more information, visit LaserMonks.com.