Business

Lots of people dream of owning their own business one day, though not everyone actively pursues this goal for one reason or another. It takes a very committed individual to successfully run a business and a great deal of hard work, determination and business acumen is involved in truly making it as an entrepreneur.

Though success can be measured in different ways, a truly successful entrepreneur has the power to inspire and influence those around them.

University of Mayland have taken a look at 6 modern day entrepreneurs who we can seek inspiration from. Here’s what we can learn from them:

Blake Mycoskie – Founder of TOMS Shoes

  • He pioneered the ‘One for One’ business model where for every one pair of shoes that is sold, another pair is donated to someone in need.
  • 10 million pairs of shoes have been donated to children so far and 175,000 people have had their eyesight restored with support from TOMS.
  • What you can learn: Keep pursuing fresh ideas and share your vision. Mycoskie has shared his vision of a future of social minded consumers and customers.

Jord Poster- Helped to found Tickets for Charity

  • They ask companies to donate tickets for resale with part of the proceeds going to 100 different charities.
  • By 2012 Ticket for Charity had raised around $10 million.
  • What you can learn? Seek and untapped market and be patient when it comes to profit. Tickets for Charity had noticed that 30-70% of tickets that corporations buy for sports games and concerts go unused each year, so the decided to do something about it.

Sergey Brin and Larry Page – Co-founded Google

  • They co-founded Google from a friend’s garage, which is now one of the world’s biggest global tech companies.
  • Google now has over 57,000 employees.
  • What can we learn? Start new projects with conviction and be prepared for the long haul. The Google X Division is all about futuristics projects, such as self-driving cars.

Kevin Plank – Founded Under Armour

  • Plank started his startup in his grandmas basement, selling his sports clothing from his car.
  • By 2010 Under Armour received an annual revenue of $1 billion.
  • What can we learn? Support the next generation of entrepreneurs and your community. Under Armour have a ‘Give Back’ initiative supporting the unserved communities of Baltimore.

Jeff Bezos -Founder of Amazon

  • Jeff left his 6 figure Wall Street pay check to open Amazon in 1994.
  • Amazon now has a revenue of over $100 billion.
  • What can we learn? Set high standards for the staff you hire and hold regular meetings. Bezos believes that he’d rather interview dozens of people, than hire the wrong person.
Inspiring-Entrepreneurs-Infographic

[Top Image Credit: Pablo]


About Sophie Deering

You can follow Sophie at @SophieDeering.

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