If you’re a budding entrepreneur who is looking for some motivation that could push you into taking some active steps towards setting up your company, here are some stories of the famous brands which grew from rags to riches. Every entrepreneur has a humble beginning and while some can become wildly successful, some others can become moderately famous. The brands which we’re going to speak of have made it to the Fortune 500 list with some big payoffs for the owners who risked everything to see their company succeed. The people behind this brand failed at different ventures and again started from the bottom. As we know that sustaining a small business is not easy enough, you should keep following your dreams. Here’s a small dose of motivation for you.
Whole Foods Market, 1978, Texas: College dropouts John Mackey & Renee Lawson Hardy saved money and also borrowed from friends and family to start their small natural foods store. Soon after opening, they were evicted from their homes for storing raw materials. Soon after in 1984, Whole Foods Market expanded out of Austin, to Dallas and Houston and then to New Orleans. Employee growth increased to 19, the largest of its kind and by the middle of the 1980s, it spread to different cities. In 1992, the company went public and in 2014, their revenue was the topmost at $14 billion and it secured 218th rank in Fortune 500 list.
Starbucks Coffee, 1971, Washington: It was in 1971 that 3 students invested $1350 in opening the store which gradually became the coffee giant, Starbucks. Howard Schultz joined as the MD of the company in 1982 and coaxed the owners to service whole bean coffee in addition to fresh-brewed espressos. Due to some arguments, Schultz left the company in 1985. By 1987, Shultz gathered enough capital to purchase Starbucks and then spread it to various countries and cities. Now it operates in 60 countries and has 22,000 retail stores. They aren’t showing any symptoms of slowing down and has been ranked 187th in Fortune 500 list in 2015.
Dell, 1984, Texas: In 1984, it was named PC’s Limited in 1984 and was founded by Michael Dell from his university’s dorm. Dell released its first computer in 1985 of its own design and soon it grew into an $80 million company, following the IPO in 1988. Despite securing a high rank in Fortune 500, it became a private company and isn’t required to report publicly. Nevertheless, it can be counted among the stories of rags to riches.
Walmart, 19 62, Arkansas: Sam Walton helped people during the Great Depression by milking is family’s cows, bottling the excessive milk and giving it to the customers. But his first tryst with the retail industry was as a trainee at J.C Penney. In 1962, he opened his first Walmart store and opened it in Rogers, Arkansas. Soon after 5 years, they expanded to 24 different stores which yielded them a sweeping amount of $13 million in yearly sales. During the year 2015, the company had 2.2 million people as employees and they serve more than 200 million customers in a week. They have more than 11,000 stores spread across 27 countries and stands as the Numero Uno on the Fortune 500 list.
Hence, if you’re still thinking of whether or not to start off with your company, don’t give a second thought. If you have a business plan ready, ensure putting it into use as soon as possible so as to count yourself among the list of successful entrepreneurs.