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Billionaires who create a business from nothing

The stories of successful entrepreneurs who have developed their business to unprecedented heights are certainly inspiring. But even more delightful are the stories about people who created themselves from scratch.

Billionaires who create a business from nothing
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How did entrepreneurs who began to develop without capital, without outside investment, and sometimes without experience and even without education, achieve astounding success? What was the starting point for them? Entrepreneur writes.

John Paul Degoria

John Paul DeGoria is not known to a wide audience like Steve Jobs or Elon Musk. But he made no less breakthroughs in entrepreneurship and business management. John began work as a newspaper courier, garbage truck driver and tow truck. But to make ends meet, he decided to get a job at a hair care company, where he met Paul Mitchell.

With a loan of $ 700, these two people started a business that turned into a conglomerate, now known as John Paul Mitchell Systems. Degoria later co-founded Patron Spirits and one of the founders of the House of Blues network. Today, his fortune is estimated at $ 3.1 billion.

Kevin Plank

Kevin Plank, creator and CEO of Under Armor, took a big risk when he started selling clothes under the Under Armor brand. He took all the saved cash (about $ 20 thousand) and a loan of $ 40 thousand and invested them in the company.

His first major transaction was a sale to the sports team of the Technical University of Georgia for $ 17 thousand, which was the impetus for processing transactions with two dozen teams of the National Football League of America. Since then, his sales have grown to millions. Today, Under Armor sells for $ 2 billion a year, and its team consists of 5,900 employees.

Jan Kum

Ian Kum, the founder of WhatsApp, was born in a small village near Kiev. The family lived very poorly, so it was decided to move to California, where Ian began to study computers in his spare time. By age 18, his skills reached an impressive level, and in 1997 he got a job at Yahoo! as an infrastructure engineer.

He worked in this area for ten years before making a breakthrough in the application industry in 2009 by launching WhatsApp Inc. By 2014, WhatsApp has become one of the most popular instant messengers. Facebook bought the app for $ 19 billion.

Sam Walton

Walmart chain of stores is often criticized for the attitude towards employees and the desire to maximize profits in any way. But company founder Sam Walton deserves attention. He had almost nothing when he created his first supermarket in 1945.

Starting capital of $ 25 thousand. He took a loan from his father-in-law and was successful. The first official store of the Walmart chain was opened in 1962, and by 1976 Walmart was worth more than $ 176 million. For a while, Walton was considered the richest man in the United States.

George Soros

Today, George Soros is known more as an investor than as an entrepreneur. But his history of development is very informative. As a teenager, Soros lived in Hungary and in 1947 he fled from fascist persecution to England. Despite the difficult financial situation, he attended the London School of Economics to get a degree. Then, in the 1950s, he moved to the United States and became an investment manager for a number of large firms. Ultimately, Soros founded his own hedge fund and created his own company. His most famous deal was that in the early 1990s, he earned $ 1 billion a day from fluctuations in the pound.

What can today’s entrepreneurs learn from these stories?

Credit / debt is a viable option. It is scary to take responsibility for other people’s money, especially when there is no 100% confidence in the idea. But almost all the people on this list started by borrowing from someone to start their own business. This can be a valuable tool if you have a money back plan.

Invest in yourself. You need to invest in yourself before investing in anything else, focusing on improving your skills, education and experience. Without investing in yourself, you cannot build a business, not to mention supporting it.

Look to the future. All of these entrepreneurs created new or developed existing markets. They did not do what the others did. Future-oriented strategies always outperform actual ones.

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