dollarbreedersLet’s face it, everyone dreams of the days when they leave their little space and vacation on a beach somewhere. Yet, for some reason, many people still think you need a master’s degree in marketing and business administration to start a business on your own. Even in 2021, when anyone can make money online, millions of potential entrepreneurs will be intimidated by the idea that business success can only be achieved with financial strength and a range of qualifications.
Of course, this is nonsense, and there are countless examples of people who have overcome poverty, low levels of education, and a complete lack of business experience to achieve success. So if you’re ready to take a risk and want to get started, then don’t hesitate – here’s a full list of 7 successful entrepreneurial stories to inspire you.
1. Sophia Amoruso
Amoruso was diagnosed with ADHD at an early age, so she dropped out of school and took odd jobs at companies like Subway. After her parents divorced, she moved to Sacramento, California, where she claims to have survived by hitchhiking, shoplifting and stealing from dumpsters.
The San Diego native made her breakthrough in 2006, however, when she sold vintage clothing and other items through her eBay account under the name Nasty Gal Vintage (after Bette Davis Records). Her revenues then grew from $223,000 in 2008 to nearly $23 million in 2011, earning her the nickname “Cinderella of Technology” by the Bull York Times.
Amoruso also wrote a book about her experiences, and although she has since stepped down as CEO of Nasty Gal, the company made $20 million from its sale to retail giant Boohoo, and in 2017, Amoruso founded the millennial women’s lifestyle website Girlboss Media.
2. Kevin Plank
Using the money he earned from college to sell flowers, as well as a combination of business loans, credit cards and other savings, the recent graduate Plank managed to design a sweat-wicking soccer shirt prototype to grow his business ever larger in Georgetown. The native of Maryland settled under the Under Armour name and then used his contacts in the college football world to give his product significant exposure.
It wasn’t until 1999, when Plank used the company’s entire budget to place an ad in ESPN the Magazine, that his luck really changed. With the ads, NFL teams and athletes began buying Under Armour products in bulk, bringing in more than $1 million in sales. Since then, the company has continued to grow and expand into multiple markets and has become the preeminent global sportswear provider. Plank still serves as CEO and currently manages 20,000 employees and $5 billion in annual revenue.
3. Jan Koum
Born in the Soviet Union, Koum moved to California in 1992 with his mother and grandmother, where the state launched a social support program that allowed the family to get a small apartment. at age 16, the young entrepreneur cleaned a grocery store to help support his mother. After teaching himself how to program, he worked as an infrastructure engineer at Yahoo for nine years.
Koum’s eureka moment, however, came in 2009, when he realized the potential of Apple’s then-struggling App Store. In 2014, Mark Zuckerberg took an interest, and eventually Facebk acquired WhatsApp for $19 billion and appointed Koum to its board of directors. Although Koum stepped down in April 2018, it is estimated that he has personally amassed a fortune of over $9 billion.
4. Pierre Omidyar
Paris-born Omidyar, who has spent most of his life working on various software developments, started working on a simple buy-and-sell auction site in 1995, calling it Auction Web, and initially used it to sell his unwanted personal possessions. However, the site began to grow when he realized the potential demand for seemingly useless products. Over the next few years, the number of transactions occurring on the site began to increase uncontrollably as Omidyar merged his project and subsequently renamed it eBay.
The company was publicly launched in 1998, making Omidyar a billionaire overnight. As of 2018, his personal net worth is estimated to be over $11 billion. Although Omidyar has founded many other businesses since then, eBay remains profitable and will continue to be successful. He is also a well-known philanthropist and has served as an executive producer of several Hollywood films.
5. Richard Branson
No list of entrepreneurial inspiration stories would be complete without the involvement of Richard Branson, who seems to have tried every possible investment over the past 40 years – not bad for a man who underperformed in school. Being diagnosed with dyslexia then conferred the unfortunate title of Virgin’s first business.
Fortunately, the first business was the import and re-sale of music records that accompanied the management of the popular Student magazine in the 1960s for huge profits. As a result, Branson was able to open a dedicated record store in London in 1971. He used the proceeds of that project to establish Virgin Records, working with many of the artists he had previously interviewed for his students, such as Rolling.
From there, Branson created and developed market-leading products and services in areas such as aviation, media, beverages and rail transportation; his personal net worth is estimated at approximately $4.9 billion, as he has sought to invest his profits from one joint venture to another.
6. Jay-Z (Shawn Carter) Jay-Z (Shawn Carter)
Although Jay-Z (real name Shawn Carter) is known for his musical feats, the New York native has exhibited a wide range of entrepreneurial traits throughout his career. Indeed, unable to secure a major record deal, Carter initially sold copies of the record from his car before co-founding his own record label in 1995.
Carter’s subsequent success in the music industry allowed him to invest in a variety of business ventures, including clothing brands, real estate, nightclubs, and even a sports management company where he represented several famous athletes. He also invested in a champagne brand, launched a line of iconic cigars, and owned a major stake in the NBA series Brooklyn Nets at one time.
Although Carter continues to pursue music and touring, Carter’s investments and businesses make up a major portion of his estimated $900 million net worth, while his wife (singer Beyonce) reportedly profits $350 million from her own ventures.
7. Jack Ma (Jack Ma)
When it comes to hints, few can match Jack Ma’s persistence; after graduating in 1988 (he was initially rejected four times), the Hangzhou native struggled to find work and was rejected by more than 30 companies (including the infamous KFC), then he applied to Harvard Business School and was again unceremoniously rejected.
However, Ma’s luck finally changed during a trip to visit friends in the United States in 1995. After entering the Internet, he managed to raise $20,000 to build an online directory for our businesses and to undertake various other web development projects for companies and organizations. Using this experience, he returned to China in 1999 and created the online marketplace Alibaba, which subsequently raised $25 billion through an IPO stock exchange in 2014, the highest of any online company ever.
Jack Ma is now one of the richest people in the world, with a personal net worth estimated at nearly $43 billion, while Alibaba Group is responsible for nine major subsidiary businesses (including the hugely popular AliExpress).
As you can see, anyone can build their own successful business from scratch, but these entrepreneurs all have one thing in common: determination. Regardless of their level of education, available resources or the field in which they made their fortune, they were able to create their own opportunities through hard work, self-belief and creativity.
If you believe you can do the same, what’s holding you back? Starting your own business is as easy and cost effective as ever, so there is no reason to hold back. Take action and you’ll be one of the successful ones in the future!
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