My Favourite 7 Boldest Entrepreneur Moves of All Time
In support of http://www.myboldmove.ca, a new website created by TELUS and BlackBerry I’ve created a list of my favourite 7 Boldest Entrepreneur Moves of All Time. These are from entrepreneurs who risked everything to take their shot at success and, against all odds, they made it. You can also win $25,000 by reading this post… details below!
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Bold Move #7 Milton Hershey Doesn’t Give Up
Milton Hershey was the founder of The Hershey Chocolate Company. He was not only one of the 20th Century’s most successful entrepreneurs but also one of the country’s most generous philanthropists. Today, The Hershey Company continues to reign as the world’s largest chocolate company with more than 13,000 employees and over $5 billion in sales.
At the age of 19, against his parents’ wishes, Hershey decided to move to Philadelphia in order to start up his own caramel company. The business was never able to generate a profit and was forced to close six years later. Hershey refused to give up. He traveled throughout Denver, New York, Chicago and New Orleans trying to find fortune but each time he was unsuccessful. He returned home at age 28 with no money and was seen as a disgrace by his family.
But he still refused to give up. He started a new business with a former employee of his and moved from making caramels to chocolate. After 10 years of failure, Hershey finally hit on a winning business. His company expanded year after year and if he had listened to his friends and family through those 10 years of failure we would never have known the Hershey Chocolate bar.
Bold Move #6: Ted Turner Decides To Be Successful
Ted Turner is the founder of CNN and Turner Broadcasting System. He owns the Atlanta Braves, gave $1 billion to the United Nations, and currently has a net worth of $1.9 billion.
Turner had a lot of bad luck growing up. He was a ‘C’ student at school, got expelled from University, had his parents divorce, got divorced by his wife, and had his sister develop terminal lupus. He went to work for his father’s outdoor advertising company when his father then killed himself because he couldn’t pay off the company’s debts. Ted Turner, at the age of 24 took over the company, restored it to profitability and began building his empire. He had all the odds stacked against him but he was determined to be a success.
According to Turner: “All my life people have said that I wasn’t going to make it… I’ve never run into a guy who could win at the top level in anything today and didn’t have the right attitude, didn’t give it everything he had, at least while he was doing it; wasn’t prepared and didn’t have the whole program worked out.”
Bold Move #5: George Lucas Challenges Traditional Business Models
George Lucas is one of the film industry’s most financially successful independent directors and producers with an estimated net worth of $3 billion. He is best known for his Star Wars and Indiana Jones movies.
When Lucas’ first movies didn’t give a financial return on investment he found it difficult to find support for his latest idea, a movie called Star Wars. To get the movie into production he waived his up-front fee as a director and agreed to own the licensing rights so he could profit from any toys, t-shirts, and other products that came from the movie. At the time movie studios didn’t see licensing rights as valuable so they agreed. The money he made from the licensing rights allowed him to finance the sequels himself and built his fortune.
According to Lucas: “My first six years in the business were hopeless. There are a lot of times when you sit and you say ‘Why am I doing this? I’ll never make it. It’s just not going to happen. I should go out and get a real job and try to survive’. I thought Star Wars was too wacky for the general public. Right or wrong this is my movie, this is my decision, and this is my creative vision, and if people don’t like it, they don’t have to see it.”
Bold Move #4: Anita Roddick Is Forced To Survive
Anita Roddick was the founder of The Body Shop, a cosmetics company known for its environmental and ethical best practices. In 2006 she sold the company to L’Oréal.for £652.3 million.
When she got married Roddick and her husband, Gordon, set up a small eight room hotel to support their family. Then her husband decided he wanted to fulfill his lifelong dream of riding a horse from Buenos Aires, Argentina to New York City. In order to support her family while her husband was gone she started The Body Shop. The bank rejected her $8,000 loan request so she got the money from a local gas station owner to get the business up and running while looking after her two children on her own.
According to Roddick: “For myself, I needed to earn money, to look after the kids while my husband was traveling for two years across South America… I started The Body Shop in 1976 simply to create a livelihood for myself and my two daughters, while my husband, Gordon, was trekking across the Americas. I had no training or experience and my only business acumen was Gordon’s advice to take sales of £300 a week. Nobody talks of entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking.”
Bold Move #3: A.P. Giannini Bets On The Little Guy
Amadeo Peter Giannini revolutionized the banking world by providing services to “the little guy.” Giannini passed away in 1949 at the age of 79. By that time, the bank he had founded, the Bank of America, had become the largest bank in the world, with more than 525 branches in over 300 cities.
Before A.P. Giannini you could only get a loan if you already had some money. Hardworking immigrants like his parents didn’t qualify and Giannini wanted to change the system. He set up his bank across the street from a popular bank and began making loans to people other banks wouldn’t give a chance.
When a massive earthquake hit San Francisco in 1906, all the banks in the city closed down to assess their damage. People couldn’t get access to their funds at the time they needed it the most. The earthquake demolished Giannini’s bank but he opened up shop by setting up a desk using two barrels and a plank of wood across them. He would lend money to people based on a handshake to help them rebuild their lives. He also went on to fund entrepreneurs like Walt Disney who nobody believed in and projects like the Golden Gate Bridge that were considered too crazy to invest in.
Bold Move #2: Guy Laliberté Risks It All In Los Angeles
Fellow Canadian Guy Laliberté is the founder of Cirque du Soleil, a circus entertainment company whose shows have been seen by almost 100 million people worldwide. In 2006, Laliberté was named the Ernst & Young Entrepreneur of the Year and his current net worth is over $2.5 billion.
After a couple of years of marginal success, Laliberté decided to risk everything to perform at the Los Angeles Arts Festival. Booked as the opening act, the performance was going to be watched by many big names, including high-profile Hollywood celebrities.
According to Laliberté: “It was live or die in L.A. And we bet everything on one night. By the end of the show we had standing ovations. The day after, tickets were selling like crazy. I bet everything on that one night. If we failed, there was no cash for gas to come home.”
Bold Move #1: Walt Disney Does The Impossible
Walt Disney was a film producer, animator, and entertainer. He created films with iconic characters like Mickey Mouse, won 22 Academy Awards, and established the Disney theme parks. Today the Walt Disney Company has revenues of over $35 billion per year.
At a young age, Walt Disney had some modest success with animated short films when he decided to do the boldest move ever in his industry: Make a full-length animated feature film. It had never been done before, let alone in colour and with music. His competitors, associates, and even his wife thought he would never make it. Originally budgeted at $500,000, the project had gone over budget by half a million dollars in its early stages. Disney was forced to act out the film’s story in front of bankers in order to secure the additional loans he needed to finish it. In the end, Snow White and the Seven Dwarfs went on to earn four times the box office of any other film when it was released.
According to Disney: “Somehow I can’t believe there are any heights that can’t be scaled by a man who knows the secret of making dreams come true. This special secret, it seems to me, can be summarized in four C’s. They are Curiosity, Confidence, Courage, and Constancy and the greatest of these is Confidence.”
Contest – Win $25,000
To honour Canadian entrepreneurs who make bold moves, TELUS and BlackBerry are giving away $25,000 via their new website http://www.myboldmove.ca. Enter today to win – the contest is only open to Canadians. You have until March 25th and can also win daily BlackBerry Smartphones.
What’s your boldest move? Which famous entrepreneur bold move would you add to your list? As always, I’d love to hear your thoughts if you leave a comment below!
Photo Credit: http://www.flickr.com/photos/risquillo/
My Favourite 7 Boldest Entrepreneur Moves of All Time:
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Great blog post Evan, a fun read!
These stories are highly inspiring. Hats off to those seven who never gave up and decided to move on their dreams.
very practical and useful article. way to go!
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“My Favorite 7 Boldest Entrepreneur Moves of All Time” is an informative article.
Great article, I enjoyed all the examples!
the fifth example (george) was excellent! thanks.
I plan on passing along what I have learned from this blog post. thanks.
Very interesting article and topic. keep it up!
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Hey, Evan:
Another awesomely inspirational post! You know how much I appreciate hearing the back-stories of famous entrepreneurs; your list here is right on! Who is my “Boldest Entrepreneur”? I’ll have to give that some thought.
:) GT Bulmer
Affiliate Power Central
Looking forward to hearing who you come up with GT!
Just read your awesome post. It’s very inspirational!
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Very inspiring and interesting reading.
The story of KFC is very touching !
Hi Evan. I love the entrepreneurs stories, they really inspire me. Thank you for all the support and have a wonderful and blessed day. Yours truly, Vivian of Kelowna, BC, Canada
Very good article, loved reading it!
Great video. The true entrepreneur makes things look easy, but behind the entrepreneurs blood, sweet and even tears, confidence makes a real difference. As they say “the harder I work, the luckier I become”. Keep up the hard work. Shane
All seven examples show that when all the odds are stacked against you, the more successful you will be when you persevere.
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What a great, informative article. They are all fantastic stories of courage and determination, but my favorite has to be Walt Disney.
The stories inspired me, thanks!
Hi Evan,
Thank you so much for this great video. Well done! Only one comment for future videos – please, please would you adjust the volume of the background music, so it does not drown out your astute and inspirational advice.
Thanks so much, all the very best,
Tanya Freedman
Book Proposal Mentor
Evan, thankyou for the inspiration. Truely amazing people and amazing stories ALL with couage and passion. Thankyou for sharing them and keeping my spirits soaring
Like always, Evan, love reading your post. Great blog!
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Dear Evan,
Your articles are always so fresh, original and inspiring. You are doing a great job! Wishing you all the best!
Nothing is impossible as evidenced by these Entrepreneurs and people like Mother Theresa, Mandela, Ghandi, Jesus…the list goes on. Just believe in yourself!
Creativity and patience are needed in any business. I hope that people try their best to follow some of the ideas mentioned in your articles. Thank you!
Hi, this is a good read, Evan! Great examples…keep up the good work.
Great article as always. My favorite is #7, Milton Hershey!
All the above Entrepreneurs are bold,courageous and determined people. We have a great deal to learn from these people…Hats off to them!
I think these people are great and deserve their successes!
Very useful information, it points to the fact that success comes from radical (out of the ordinary) approaches. Reminds me of one quote you sent out the other time, “The secret of success is to do the common things uncommonly well”.
This is inspirational, i love it!
What a fantastic clip. It is very inspirational and motivating. I intend to share with all my fellow staff. Evan, you are doing a great job. Keep it up!
So inspiring, Evan! I love reading such material, it gives me hope that I’ll also make it one day too.Best wishes!
Just amazing!!! Thanks for sharing your knowledge:)
Wow, these people truly believed in their concepts. I guess as an entrepreneur, you need to be driven by a hunger to be successful against all odds.
Thank you, Evan.
Good article, thanks a bunch!
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Walt Disney got out of his comfort zone and saw what others were not seeing. He removed self imposed limitations and forged forward with a brave heart. This is awesome!
this type of information is useful and inspires one to pursue an idea or dream!
would like to see more articles on people like Bill Gates. thanks!
Great piece on some very exceptional people.
Thanks Evan,
“My Favorite 7 Boldest Entrepreneur Moves of All Time” is really fantastic and has broadened my vision too.
Best Regards,
Nazim
I enjoyed every one of these inspiring stories.
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Inspiring reading. Patience and perseverance pays off, attitude and believing in one self is what differentiates success and failure.
Evan, great video and well timed for where I am in life…A great inspiration.
i loved this write up.
i enjoyed and loved all the steps.
Wonderful moves. The articles are very inspirational. My small scale waste collection firm started three months ago is at the edge of collapsing because of lack of finance to buy equipments. This articles have motivated me to hold on very tight. Thanks.
Dear Evan, I see the competition is open only for Canadians. I am in South Africa. Nevertheless my boldest move i would like to make is to meet with former USA President George Bush and praise him for the wonderful work he has done regarding HIV/AIDS globally. And ask him to please support the NGO/NPO that i am currently running with no funding whatsoever. I am more of a community developer person, though i am also registered to do import and export, which needs a lot of capital to begin with. I would like to first see the NPO up and running then i can fully focus on my own business knowing that i have contributed to the needy and underpriviledged communities on the ground. Keep up your excellent work, very inspirational and will share as wide as possible for others to also receive this very rich information.
Regards Elizabeth
An awesome reminder of why maintaining your personal focus, vision, and determination are so important. The next time someone tells you that “You’re wasting your time!” or “That will never work!” or “You’ll never make it!” remember these bold entrepreneurial moves and what it was that made the individual successful, especially after experiencing seemingly insurmountable setbacks.
Very informative piece! Keep it coming.
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Very nice compilation of examples!
Great message to uplift the human spirit. I have been feeling rather low and despondent and have had many disturbing thoughts to give up or quit. I feel inspired by the messages knowing that others (especially the greats and successful) also go through challenges. The point is not to give up, but to believe in yourself and persevere!!
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Evan, 7 great examples! Thanks for this.
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I love stories like this because they let me know that I have not been a failure throughout my ventures alone:). They also tell me that I am not crazy for trying….
Hi Evan.
This is a wonderful piece of knowledge sharing. Although the contest is 4 Canadians and I am from India, I still wanted to write something here! I am small time entrepreneur and these examples help me to stay motivated. Thanks a ton & keep sharing !!!!!!!!!!
BIDYUT
Very inspiring reading, these business men and women are bold and patient.
I feel revived after reading this…
Good work, Evan.
I wish the contest was for everyone. I am a Kenyan entrepreneur and in need of money to build my business. I’ll find a way!
Regards…
My favorites: Ted Turner Decides To Be Successful and George Lucas Challenges Traditional Business Models
Very inspiring stuff! Keep it up!
Amazing motivation! Look out for me, my name will make this sort of list. Keep up the good work Evan.
Evan, great article! loved it!
For your next list- “Guy Laliberté Risks It All In Los Angeles” Canadian entrepreneur, philanthropist, poker player, space tourist and the current CEO of Cirque du Soleil.
He’s goooooooood!
Very informative bits of information. Thank you very much, Sir Evan!
I am in the start up stage so this is good advice for me. Unfortunately, I can’t enter the competition because I am in Ghana, but no problem at all…Business is going really in the right direction for me-oil, gas services and mining are going great. Thank you again
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Great examples, Evan. I hope I can be able to use in my life. I am a student at a the University in Kenya and i have been interested in knowing how I can trade shares and earn money from trade in. I would really appreciate some advice. Thanks in advance…
Thanx a lot Evan, this is inspiring, cant wait for more!
Dare I say this is the best so far? it came at the proper time for me,despite the fact that i got it late due to a personal computer. Thanks a lot Evan
It’s a nice article, and also a good lesson too!
What a great morning with this mental inspiration! Simply the best.
Many thanks, Evan.
This is great, Evan! Amadeo Peter Giannini remains my HERO because on top of being a great risk taker, Giannini expressed the highest degree of brotherhood…
As a small business owner, many a days you wonder if you have done the right thing and then you read an article like this and you know its all worth it.
Anita Roddick is one strong willed women. I don’t know many who would be able to handle their husband leaving on a wild adventure for two years and then have the creativity and passion to start up a company even after the loan was rejected. Good story. Nice to hear things like this.
It’s great to read about the ‘against all odds’ stories for most of us aren’t in that position, nor will be. It makes it slighter easier to move on your own ideas when it’s not sink or swim like it was for these people above. Nice article!
I’m sure A.P Giannini’s impact has been exponential when you think about the popularity that mirco-loans have had in recent years. I love when people fight for the people who can’t fight for themselves. It’s great to make money, but even better to help many people along the way!
10 years of failure and Hershey still kept moving forward! Damn! Wish I had that type of self-determination and persistence. If you want something bad enough it can happen and this article is an example of that. Good work…
It really seems that success is a mindset after reading through the examples you posted above. Thanks for sharing these stories, Evan.
Really inspiring!!
Just shows you that you need to believe in yourself whatever may come.
Thanks a lot, Evan
Whats up, Evan?! I unexpectedly happened across this article today and I read on with intrigue!
Great information to get out there, we gotta’ believe in our dreams and take steps to pursue them!
My business problems are not so big when I read some of the stories above. Great for keeping things in perspective.
Very important lesson!
Only bold people can accomplish bold things. If you are afraid and too conservative, your business won’t grow very big.
Good lessons here people. There are times when you need to dare to take a big risk.
great stuff..your insights are invaluable.
Excellent Evan. Thank you. Peter
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My Favourite 7 Boldest Entrepreneur Moves of All Time http://bit.ly/h100Ua
I had a great job as VP Human Resources for Coles Book Stores. Shortly after our first child was born we moved to a larger house. This of course meant a bigger mortgage. It was only a few months later that our second child was due. With looming changes among the senior executive team at Coles, I contemplated my career and decided to accept some consulting assignments. Many were shocked as this was a huge risk, especially at this time in our life.
I used my background and experience to help organizations with the development of their Strategic Plans, Organizational Change Initiatives and Leadership Development. It wasn’t long before I realized that the risk was worth it.
My busines grew and I recognized that I didn’t want to be a sole entrepreneur so I took on associates to work with me. My business had largely been focussed in Canada but within a couple of years I started to seek more and more work in the United States. Another risk as I didn’t live there. I remained in Toronto. Again, I was told it was a huge risk and probably not worth it. Nevertheless, I was clear on goal. This led to our incorporation in the United States as well as Canada.
After several years my business took on a new direction. I was asked to work with a large chemical manufacturing company with their implementation of Total Quality Management. I knew nothing about this area. My focus had been on strategic planning and leadership development.
They targeted me because they had heard from other clients about my facilitation, consulting and programme development capability. They were willing to train me in quality, knowing that with my expertise I would know what to do in order to bring their quality management system into greater levels of success. So I took the courses, developed the programmes and started to consult and train the staff. I had to give up possible future consulting assignments in areas I was knowledgeable to work in an area where I was a novice. What if it didn’t work out. Wow – another risk.
I applied everything I had research and learned and within a year they had saved 12 million dollars. With that I was started to work with other organizations in their quality system implementations. I continued to work in the areas of leadership, strategy and change.
My consulting practice has continued on this path. Taking risks but realizing that it isn’t the risk of doing something. Rather, it is the risk of a lost opportunity if I don’t. I think this has been my journey into “bold”.
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great to read.
My boldest entrepreneurial move? My own: I’ve written a proposal that uses entrepreneurship on a massive scale to tackle the ongoing high unemployment problem, which has left millions and millions of Americans grasping at the last vestiges of the American Dream. Long-term unemployment is at record levels and the pace of the tepid “recovery” from the Great Recession will require years to return the country to full employment. In the mean time, government coffers are depleted while straining to address the extreme hardship, and tax revenues are greatly diminished because so many jobless folks cannot pay taxes.
My proposal describes an entrepreneurial mechanism through which we can fund a massive number of new business ventures (to create a massive number of new jobs) by tapping the financial power of Wall Street. It is a private-sector proactive approach to remedy the high unemployment problem. Titled “A Modest Proposal to Save the American Economy: Entrepreneurial Blitzkrieg as Job Creation Vehicle,” the proposal has been published online at Salem-News.com (and various other places):
http://salem-news.com/articles/march232011/solving-unemployment-jpb.php
If this idea catches fire, it will indeed be one of the greatest large-scale entrepreneurial moves of all time!
The boldest thing I did was to quit my “secure” job as a federal scientist in this uncertain economic climate. I regret a lot of things, but I DO NOT regret leaving my job to life a life of passion.
Congrats – that’s great example!
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