I’m pleased to announce our latest famous entrepreneur profile of Trip Hawkins, the founder of EA Sports. You can read the complete story here: http://www.evancarmichael.com/Famous-Entrepreneurs/5088/summary.php

“When I first saw a computer, I knew, this was the answer for me,” says Hawkins. “I was going to be able to make real life in a box and expose the kind of games I wanted to play to the public.”He knew what he wanted to do early on in life, and he took all the necessary steps to get there. From working and learning from others, to trying his hand at three different companies, Hawkins has made a name for himself in all of the video game, console, and mobile industries. How did a young boy who just wanted to play games go on to become a millionaire?

“If you’re going to be a successful entrepreneur, you’re going to have to be somebody who can tolerate a high rate of change, you have to be willing to put a lot more hours into it, you have to tolerate the fact that you’re going to make more mistakes and have a culture that responds to that.”

Persistence: “If you’re going to be a successful entrepreneur, you’re going to have to be somebody who can tolerate a high rate of change, you have to be willing to put a lot more hours into it, you have to tolerate the fact that you’re going to make more mistakes and have a culture that responds to that.” Hawkins still could have retired comfortable after having his second company go bankrupt, but he opted to try again. In the end, his persistence took him on to even greater things.

Risk-taking: “When I was young, I was completely fearless, and sometimes you have success because of that, sometimes you make horrible mistakes because of that.” Hawkins might have taken risks that resulted in failures, but it was in fact his greatest risks that led to his greatest successes.

Passion: “It’s not like business for me is a hobby that I’m especially passionate about. I have a lot of skills and experience at it, but I’m really there more for the art of what I’m doing,” says Hawkins. “I’m a total game addict, and of course I play games in all kinds of different forms. And obviously the mobile phone just happens to be the most convenient way to play today.” Hawkins took his childhood passion and turned it into a global business, which explains much of the success he has achieved to date.

Understanding: Hawkins knew that expanding into new markets meant having to understand those markets’ particular mobile development trajectory, and adapting to it. Even where he knew he might have taken a misstep, he also had the wherewithal to correct himself and move forward.

Cutting-edge: Hawkins refuses to take his businesses anywhere other than the cutting edge of development. In paying attention to trends, Hawkins is positioning himself as a global leader in the future.

“It’s a real thrill to just create something new that nobody’s ever thought of or heard of or didn’t know they needed.”

“Mobile is like the Internet was at the 9600 baud dialup stage,” says Hawkins. “In theory it’s all there, but it is a rare day when you can get everything to work the way you would like. But the infrastructure is good enough now and it is steadily improving, and we know what great things we have to look forward to…And it’s a real thrill to just create something new that nobody’s ever thought of or heard of or didn’t know they needed.”

You can read the complete story here: http://www.evancarmichael.com/Famous-Entrepreneurs/5088/summary.php

What do you think of Trip Hawkin’s story? Are there any other famous entrepreneurs you would like to see profiled?

I’ve love to hear your thoughts if you leave a comment below!

I’m proud to announce our latest famous entrepreneur profile to EvanCarmichael.com: Terry Matthews from Mitel who has built over 100 companies and has gone on to become a billionaire.

You might not know him by name, but this entrepreneur has started up almost 100 companies and, as Wales’ first billionaire, is richer than even Prince Charles. An engineer by training, Terry Matthews became Wales’ richest man by fixing and building things ever since he was young. What started as $4000 in capital and a “long, long holiday” has since become one of the greatest examples of successful serial entrepreneurship in the world.

A journalist once suggested to Mathews, “The standard wisdom is that Canadians are more risk-averse than Americans and therefore less aggressive.” Matthews’ response? “Okay, so I suggest you write some articles to stay that’s bullshit. Canadians need to just get on with it.”Get on with it is exactly what Matthews did, working to build almost 100 high tech communications companies in Canada and the United Kingdom, and finding success every time. How did he do it?

You can read the full Terry Matthews story here: http://www.evancarmichael.com/Famous-Entrepreneurs/4955/summary.php

What do you think of Terry Matthew’s story? Are there any other famous entrepreneurs you would like to see profiled?

I’ve love to hear your thoughts if you leave a comment below!

I’m proud to announce our latest famous entrepreneur profile to EvanCarmichael.com: Ty Warner from Ty Inc. best known for his line of Beanie Babies products.

He dropped out of Kalamazoo College to sell stuffed toys. It might not have been the most promising of starts, but when the young Ty Warner decided to start his own line of stuffed animals, he wound up taking children across the country – and their allowances – by storm. Beanie Babies were affordably priced, and with their cute individual names, Warner found himself sitting on top of a gold mine.

“Some companies are in it for the quick buck,” Warner once said back in 1996. “I want longevity.” In 1998, Ty Inc. surpassed Mattel Inc. and Hasbro Inc. to become the largest toy company in the U.S. How did this college drop out earn himself a spot on Forbes’ World’s Richest List?

You can read the full Ty Warner story here:

The Toy Tycoon: The Early Years of Beanie Babies Founder Ty Warner – Click To Read Article
He dropped out of Kalamazoo College to sell stuffed toys. It might not have been the most promising of starts, but when the young Ty Warner decided to start his own line of stuffed animals, he wound up taking children across the country – and their allowances – by storm. Beanie Babies were affordably priced, and with their cute individual names, Warner found himself sitting on top of a gold mine.

Taking Beanie Babies to the Bank: Warner’s Company Takes Off – Click To Read Article
Back in the U.S., Warner was now in search of the funds he needed to start his new venture. He placed a mortgage on his small suburban home and also set aside the $50,000 inheritance he had received after his father’s death in 1983. That, in addition to his life savings from his six figure income at Dakin gave Warner enough to found Ty Incorporated in 1986.

Lesson #1: Tease Your Customers into Wanting More – Click To Read Article
Warner did not spend any money on advertising for any of his product lines, not even the ever popular Beanie Babies. He did not have to. Instead, he pursued a novel and cost-effective strategy of teasing and taunting his customers into wanting more.

Lesson #2: Use Secrecy to Seduce Your Customers – Click To Read Article
Throughout Warner’s entire career, he has granted just three interviews with the media, this despite being one of the wealthiest men in the world. Does he really value his privacy that much? Or rather is it yet another weapon in Warner’s chest of arms that works to further lure in the unsuspecting customer and make his products irresistible?

Lesson #3: Listen To Your Customers, Not Your Critics – Click To Read Article
By 1992, Warner’s sales catalog had become an increasingly important marketing tool for the growing company. It now featured several dozen plush animal toys, with retailers and collectors alike in a frenzied race to order the latest releases.

Lesson #4: Low Risk Means Low Rewards – Click To Read Article
When it came to taking the road less traveled, Warner was all about accepting risk. And not just a little bit of risk; Warner knew that the more risk he was willing to take, the greater the reward in the end would be.

Lesson #5: Use Strategic Partnerships to Promote Your Products – Click To Read Article
Throughout most of his career in the toy industry, Warner had made a name for himself by bucking the trends. When tradition stated he should sell in the biggest stores he could, Warner opted to distribute his toys via the smaller “ma and pop” shops. And, when his competitors were spending millions of dollars on advertising campaigns, Warner resisted, choosing instead to cover the company and its products with a veil of secrecy.

Success Never Looked So Cute: How Beanie Babies Took the World by Storm – Click To Read Article
“Some companies are in it for the quick buck,” Warner once said back in 1996. “I want longevity.” In 1998, Ty Inc. surpassed Mattel Inc. and Hasbro Inc. to become the largest toy company in the U.S. How did this college drop out earn himself a spot on Forbes’ World’s Richest List?

Ty Warner Quotes – Click To Read Article
Ty Warner Quotes

What do you think of Ty Warner’s story? Are there any other famous entrepreneurs you would like to see profiled?

I’ve love to hear your thoughts if you leave a comment below!

I’ve always been a big fan of modeling success. The concept is quite simple – if you have a goal that you want to accomplish, and you want to accomplish it quickly, find someone who has already achieved it and learn from their success.

You can take what took them years to figure out and put it to work in your business immediately.

My first real business was a biotechnology software company I became an owner in when I was 19 years old. I didn’t know anything about biotechnology or software at the time but our plan was to model the successful strategies of other software companies to build our business. We copied what Microsoft, Intuit, and Quicken did to grow and we soon had over 450 customers in over 30 countries.

Modeling The Masters Quotes:

“We worked every day, Sunday included, until at least ten o’clock at night. I remember it was an event when we quit work on Christmas night at eight o’clock to attend a family reunion.” – Walter Davidson (Harley-Davidson Motor Co.)

“Give them quality. That’s the best kind of advertising in the world.” – Milton Hershey

“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. When you believe a thing, believe it all the way, implicitly and unquestionably.” – Walt Disney

One of the most popular sections of my main website is to profile famous entrepreneurs. I’ve also started a video series called Modeling The Masters in partnership with Phanta Media which I will be featuring in this blog.

Here are the first three videos that we’ve put together – so far they  have been viewed over 16,500 times. We examine the business success of Harley-Davidson, Milton Hershey, and Walt Disney. I’ve yet to decide on the best format for the videos and you can see that each one takes a slightly different approach.

I look forward to your feedback on which you like the best and how I can make them better and more valuable for you!