Entrepreneurs: Leaders In Change

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Entrepreneurs Leaders In Change

• Ida Manning
• Executive Director
• Illinois Institute of Entrepreneurship Education

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Admiral Zheng He b. around 1371, d. 1433

• In seven voyages from 1405 to 1433, Zheng He
  spread China's goods across the world and
  returned with treasures for the Ming Dynasty

3
Benjamin Franklinb. 1706, d. 1790

• A writer, publisher, inventor, politician and
  diplomat, he always considered himself a
  businessman.

4
Mayer Amschel Rothschildb. 1744, d. 1812

• Rothschild's banking empire would stretch across
  Europe, essentially becoming the world's first
  international bank

5
John Jacob Astorb. 1763, d. 1848

• Came to New York in poverty at age 20 and built a
  near-monopoly in the global fur trade.
• Astor poured his fur profits into New York real
  estate the income from the rents and the value
  of the land combined to make Astor the wealthiest
  American of his time

6
John Rockefellerb. 1839, d. 1937

• Rockefeller started his first business selling
  grain and other goods before he was 20 .
• By buying out oil refineries around Cleveland and
  New York after the Civil War, Rockefeller soon
  dominated the market

7
Andrew Carnegieb. 1835, d. 1919

• The Scottish immigrant and weaver's son built a
  steel empire whose mills churned out the
  railroads, ships, and structures of post-Civil
  War Americaand created a fortune for himself in
  the process.

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Estee Lauderb. 1907, d. 2004

• In 1946, she founded the company that bears her
  name to sell makeup and perfume in high-end
  department stores around the world
• Lauder became a giant in the nascent beauty
  industry by making sure the quality of her
  products exceeded the expectations of her target
  market, namely wealthy society women

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George Washington Carverb. 1864, d. 1943

• Carver changed the South from being a one-crop
  land of cotton, to being multi-crop farmlands,
  with farmers having hundreds of profitable uses
  for their new crops

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Henry Fordb. 1863, d. 1947

• Ford did not invent the automobile, but he made
  it affordable to the middle class that he helped
  create
• His manufacturing process created the modern car
  industry, and with it, the car culture of the
  20th century

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Milton Hersheyb. 1857, d. 1945

• In 1905, Hershey built the world's largest
  chocolate factory in Pennsylvania
• Millions enjoy what once had been reserved for
  the wealthy. Selling "low-cost luxury" became a
  viable business model

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Harland Colonel Sandersb. 1890, d. 1980

• Kentucky Fried Chicken, pioneered by Colonel
  Harland Sanders, became one of the largest quick
  service food service systems in the world
• A billion "finger lickin' good" KFC dinners
  served annually in more than 80 countries and
  territories.

13
Madam C.J. Walkerb. 1867, d. 1919

• Walker's line of hair-and-beauty products geared
  toward blacks tapped into a market ignored by
  other businesses because of racism
• She set an example for generations of
  entrepreneurs in a time when women were still
  struggling for voting rights

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Thomas Edisonb. 1847, d. 1931

• Edison's relentless innovation made him the most
  prolific inventor of his time
• Started as a telegraph operator but soon moved on
  to refining that technology and creating others
  that would turn the world on its head a device
  to turn power into light, a machine to record and
  play back sound

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Ray Krocb. 1902, d. 1984

• Ray Kroc turned a California burger shack into a
  brand whose golden arches span the globe
• By investing in franchisees, Kroc drove the
  inexorable growth of McDonald's and created one
  of the most visible brands in history

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Walt Disneyb. 1901, d. 1966

• The first multimedia empire was built on
  animation
• He also founded Disneyland .
• His company owns
• Buena Vista Pictures Entertainment, ABC TV,
  ABC Family Channel, and ESPN

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Earl Gravesb. 1935

• Founded Black Enterprise magazine in 1970, a
  publication that recognized the expanding
  financial power of the black community and helped
  spur its growth
• Boasts a paid circulation of half a million and
  has been profitable since its 10th issue

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Andy Groveb. 1936

• He helped found Intel and navigated the company's
  shift from making memory chips to microprocessors
  
• During his tenure as CEO from 1987 to 1998, Intel
  grew at a rate of 30 annually

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W. K. Kelloggb. 1860, d. 1951

• Kellogg's accidental discovery, promoted with
  savvy marketing, transformed the way Americans
  eat breakfast
• Kellogg grasped the idea that kids influence
  buying decisionsgalvanizing the brand's success

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Martha Stewartb. 1941

• Started a catering business out of her Westport
  (Conn.) home in 1976
• Went on to expand into retail, publishing,
  television, and merchandising

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Azim Premji b. 1945

• Premji built a leading IT company as the industry
  was growing and he expanded into the global
  market by adhering to rigorous standards.

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Bill Gatesb. 1955

• By linking his Microsoft software to IBM's first
  PCs, he dominated the industry
• He developed a two-prong strategy of expanding
  the market while maintaining a strong hold on
  competitors

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Jeff Bezosb. 1964

• Founded Amazon.com, in 1994
• Bezos pioneered techniques that have become
  staples of online sales.

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Michael Dellb. 1965

• Created a new model for PC sales
• Cutting out the retail middleman and
  custom-building computers to suit buyers' needs
  put Dell at the front of the class of PC makers

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Oprah Winfreyb. 1954

• Oprah Winfrey turned her name into one of the
  most successful and respected brands in the world
  
• Leveraged that fame into other interests
  magazines, Web sites, film and television
  production and Social Entrepreneurship.

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Muhammad Yunus b. 1940

• 2006 Nobel Peace Prize winner, founded a banking
  system 30 years ago to lend small amounts of
  money to the rural poor in Bangladeshi villages

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Richard Bransonb. 1950

• Richard Branson turned, Virgin, the mail-order
  record shop he opened in 1970 into a label he
  sold 22 years later for nearly 1 billion
• Brand includes mobile-phone service, bridal
  gowns, credit cards, and life insurance. Virgin
  Group encompasses 200 companies in 30 countries
  and boasted 7.2 billion in sales in 2002

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Steve Jobsb. 1955

• The Apple co-founder combined simplicity with
  innovation to emerge from the Internet boom as
  one of the lone tech companies that can butt
  heads with Microsoft

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Tom Anderson Chris DeWolfe

• Founders of MySpace.com
• Registering 160,000 people per day with no
  marketing
• As of September 2007, there are over 200 million
  accounts.

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Ralph Laurenb. 1939

• Like many successful entrepreneurs, Lauren was
  selling lifestyle more than product
• Lauren imagined a market for men's fashion as
  large as that for women

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Sam Waltonb. 1918, d. 1992

• The man who built the world's largest retailer on
  low prices Wal-Mart
• Bought direct from manufacturers and made his
  stores as efficient as possible, sending the
  savings back to consumers

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Chad Hurley, 29 Steve Chen, 28 Jawed Karim, 27

• Founders of YouTube
• Broadcasts 100 million short videos daily on
  myriad subjects
• Sold to Google

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Pierre Omidyarb. 1967

• Founder of EBay, which made the promise of the
  Internet a reality by connecting far-flung
  customers with the goods they wanted to buy

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Tyler Barnett, 24 Jason Ellman, 25

• Founder of Los Angeles PR Firm, Barnett Ellman
• Four-employee firm's revenues in 2006 were around
  15,000 a month and estimates doing about 30,000
  a month in 2007

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Lee Brown, 23 Lucas Brown, 23 Lin Miao, 20

• Founded marketing firm Tatto while students at
  Babson College in 2005 with a 100 investment
• Revenues are 25 million for 2007 and expected to
  grow to 50 million by 2008

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Deborah Umunnabuike, 23 Jessica Umunnabuike, 21
Vincent Choi, 23

• Sisters are co-founders of Avant Gaudy, an online
  vintage clothing shop
• Almost 26,000 visitors from more than 30
  countries to their website
• Recruited Hong Kong native Vincent Choi to bring
  a global perspective to the business and better
  reach shoppers in Asia

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Mitch Cohen, 20

• Started his latest company, ClixConnect, to help
  online retailers improve customer service on
  their Web sites
• Started his first business when he was 16
• The six-employee business, has landed about 70
  clients so far

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Max Crane, 19 Tyler Dikman, 23 David McIntosh,
20 Darian Shirazi, 20

• Co-founders of nine-person software application
  and social networking company Redux
• Began business in December 2006 and raised 1.65
  million in venture capital in March, 2007

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Francesco DeParis, 24 Kyle Redinger, 24

• Founders of DeParis Redinger, a boutique
  investment bank that specializes in
  mergers-and-acquisitions advisory for small tech
  firms
• The firm, which opened for business in December,
  2006, does 10 million to 20 million deals

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Max Durovic, 24 Michael Kenny, 23

• This duo started their own business, Aarrow
  Advertising, with 100
• Employs 40 full-timers and 460 part-timers who
  range between 16 and 25 years old
• Had 2.3 million in sales in 2006 and projects
  4.2 million this year

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Gabriel Erbst, 24 Will Geronimo, 25 Dwight
Lee, 24

• Co-founders of TableXChange, an online
  marketplace to buy and sell restaurant
  reservations
• Expects the business to be profitable by the end
  of 2007

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Eugene Fernandez, 24 Richard Scalesse, 24

• Founders of Unique Squared, an audio equipment
  online retail shop
• Began in March, 2007, with an initial investment
  of about 6,000 and is already profitable

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Ashutosh Gupta, 19

• Owner of Gupta Financial Consulting
• Has clients with revenues between 200,000 and
  3.3 million
• Estimates his business will have revenues between
  150,000 and 300,000 this year

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Ben Keighran, 25

• Founder of Bluepulse.com, where users can
  download a free application that works on most
  Internet-enabled phones
• Downloaded by about 3 million people
• Landed about 6 million in venture capital

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Jake Kloberdanz, 24

• Launched Hope Wine, a winery that gives 50 of
  the profits from sales of its wines to charity
• Hope Wine is available in about 100 locations
• Hope has donated 20,000 to charity since
  launching, and he estimates revenues of 3
  million to 5 million in 2008.

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Jasmine Lawrence, 16

• After a chemical hair relaxer caused almost all
  of her hair to fall out, she decided to make her
  own
• After borrowing 2,000 from her parents, the high
  school junior launched her company, Eden Body
  Works
• This year she expects to earn 100,000 in sales

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Shawn Liu, 25

• Started bespoke clothing company Hillhouse
  Tailors, which sells men's dress shirts made in
  Shanghai to the U.S. market that start at 65
• Through the company's online store and
  revenue-sharing agreements with independent
  clothing retailers, Liu estimates the company
  will have revenues of 1.2 million by 2009

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Amit Nar, 22

• Founder of A Better Nights Sleep, a center to
  test and treat sleep disorders such as apnea,
  insomnia, and narcolepsy
• Expects revenues of around 500,000 in 2008

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Arun Parameswaran, 24 Arjun Parameswaran, 22

• Founders of Astutant.com which offers accounting
  services to small- and midsize businesses
• Estimates that their companies will earn 4
  million in revenue this year. By 2014 their goal
  is to pull in 100 million

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Polina Raygorodskaya, 21

• Owner of a fashion production services business,
  Polina Fashion
• Has already produced about 50 events, with price
  tags of 2,000 to 15,000 per event

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Ashley Reed, 21

• Started ASR Clothing, a line of streetwear
  hoodies, jeans, and T-shirts
• Her five-employee business has been featured in
  newspapers and magazines

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Sarah Schupp, 25

• Founder of University Parent Media which produces
  visitor/information guides for parents of college
  students
• Expects around 800,000 in revenues in 2007

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Rishi Shah, 25

• Created three-employee Flying Cart to give
  small-business owners a way to sell their
  products online
• Estimates the business, which now has more than
  1,000 shops, will be profitable by the spring of
  2008.

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Bryan Sims, 24

• Founder of Brass Media, a magazine with a mission
  to make money relevant to young people
• Magazine now has about 450,000 readers

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Nathaniel Stevens, 24

• Started Yodle, an advertising services company
  that serves local businesses that lack the time
  or expertise to advertise online
• Expects to have approximately 1,000 customers by
  end of the year
• Received venture funding in November, 2006, and
  plans to open six to eight additional offices
  around the country within the next 12 months

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Alex Tchekmeian, 21

• Owner of AKT Enterprises, which consists of 15
  businesses that revolve around the music industry
  and include merchandising, Web development, and
  online ticketing services
• The business had 1.3 million revenues in 2006
  and estimates it will earn just over 3 million
  in 2007

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Sam Altman, 22 Nick Sivo, 22

• Started Loopt, a customized mapping software for
  GPS-enabled phones that allows users to locate
  friends on a map via cell phone or Web site
• The 35-employee company has received 5 million
  in venture funding

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Ubong Attah, 23

• Owner of Studio10Fourteen, a Web design firm
  Prolete Medical Billing
• Expects Prolete to have revenues of around 4
  million in 2008

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John Rico

• President of Rico Enterprises, a company
  specializing in sales, service, consulting,
  project design,  management and installation
• In business for 22 years

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Nicki Anderson

• President/Owner of Reality Fitness, an
  award-winning personal training studio
• In business since 1993
• Published author, columnist and fitness
  professional

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Entrepreneurship U.S. View

• SBA reports that small business
• Represented over 99 of all employers
• Provided 75 of ALL new jobs
• Produced 55 of innovations
• (As of 2000)

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Colleges and Universities

• With Entrepreneurship Majors
• 1970 - 16
• 2000 over 1400

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E Education In High Schools

• Kauffman Foundation Gallop Poll
• 90 of H.S. students rate their E Knowledge as
  very poor or fair.
• 7 out of 10 students want to start a business
• 84 believe it is important for schools to teach
  Entrepreneurship!

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Tomorrows Entrepreneurs are in our schools
TODAY!!

• You can either work for an entrepreneur or be
  an entrepreneur.
• Which will it be?
• All information provided by BusinessWeek.com