Business Ideas: My Favourite 5 Gutsiest Entrepreneur Launches of All Time
Gutsiest Entrepreneur Launch #5: Dana White Saves the UFC
White agreed and put his business on the line. The show became a huge success which ended with Forrest Griffin and Stephan Bonnar fighting for a six-figure contract. White credits the show for saving the UFC and continued airing new seasons of The Ultimate Fighter to expand the awareness and popularity of his company.
Gutsiest Entrepreneur Launch #4 – Philip Knight signs Michael Jordan:
The Air Jordan became the most valuable footwear franchise in Nike’s history. It was so popular that launch dates had to be postponed to weekends so kids wouldn’t be tempted to skip school to get their hands on the latest Air Jordan. The move took Nike from being a running shoe company with no exposure to the basketball market to now owning as much as 85% of the basketball shoe market.
Gutsiest Entrepreneur Launch #3: Bill Gates Pitches a Product that Doesn’t Exist
Bill Gates and long time friend Paul Allen turned their passion for programming into a business when they saw a picture of the Altair 8080 on the cover of Popular Electronics. Gates called Micro Instrumentation and Telemetry Systems (MITS), the company that was manufacturing the Altair, and told them that he and Allen had developed a programming language for the computer that was ready to launch.
With not a single line of code written and no Altair to work on, Gates and Allen worked around the clock on Harvard computers to do what they said they had already done. Eight weeks later, Allen flew to MITS headquarters in New Mexico to present their code. Without even a test-run, their program was a success and MITS bought the rights, making it an industry standard. Within one year, Gates had dropped out of Harvard and the two high school friends established Microsoft Corporation.
Gutsiest Entrepreneur Launch #2: Richard Branson Drives a Tank into Times Square
To launch Virgin Cola he rode into Times Square in New York City on top of a tank, promising to battle with Coke and Pepsi. To launch Virgin Mobile in Canada he repelled into the heart of Yonge-Dundas square. Branson has also made several world record-breaking attempts. With “Virgin Atlantic Challenger” and “Virgin Atlantic Challenger II” he raced to have the fastest Atlantic Ocean crossing. In “Virgin Atlantic Flyer” he created the world’s largest hot air balloon and was the first to cross the Atlantic in a balloon. He then tried to become the first person to go around the world in a hot air balloon.
Branson is always thinking of new ways to launch and promote his businesses – the more high profile, the better. Even when his stunts don’t work out they garner so much attention for his businesses that it’s all worth it for him.
Gutsiest Entrepreneur Launch #1: P.T. Barnum Puts on a Show
Even if you didn’t have a ticket to his show, when Barnum’s circus was in town, you would know it. He would sweep into the city with gusto; elephants would be paraded through the streets, clowns would be sent to local hospitals to visit with sick children. Barnum provided a pre-show to his circus that he hoped would get people talking and raise excitement about his show. He would give tours of his circus to anyone who wanted to see inside the Big Top, and also put on multiple free contests in order to attract crowds to his show.
Barnum was always thinking of ways to promote both himself and his circus. From making splashy entrances to using cross-promotion, Barnum did what it took to make sure people knew who he was.
Warren Buffett & Bill Gates on Measuring Performance, Wealth, Billionaires, Financial Crisis
Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component. It can involve studying processes/strategies within organizations, or studying engineering processes/parameters/phenomena, to see whether output are in line with what was intended or should have been achieved.
Performance measurement has been defined by Neely as “the process of quantifying the efficiency and effectiveness of past actions”, while Moullin defines it as “the process of evaluating how well organisations are managed and the value they deliver for customers and other stakeholders”. Discussion on the relative merits of these definitions appeared in several articles in the newsletter of the Performance Management Association.
Wikipedia – Performance Measurement
The wealth effect is an economic term, referring to an increase (decrease) in spending that accompanies an increase (decrease) in perceived wealth.
The effect would cause changes in the amounts and distribution of consumer consumption caused by changes in consumer wealth. People should spend more when one of two things is true: when people actually are richer, objectively, or when people perceive themselves to be richer—for example, the assessed value of their home increases, or a stock they own goes up in price.
Demand for some goods (especially Inferior goods) typically decreases with increasing wealth. For example, consider consumption of cheap fast food versus steak. As someone becomes wealthier, their demand for cheap fast food is likely to decrease, and their demand for more expensive steak may increase.
Consumption may be tied to relative wealth. Particularly when supply is highly inelastic – or in the case of monopoly – one’s ability to purchase a good may be highly related to one’s relative wealth in the economy. Consider for example the cost of real estate in a city with high average wealth (for example New York or London), in comparison to a city with a low average wealth. Supply is fairly inelastic, so if a helicopter drop (or gold rush) were to suddenly create large amounts of wealth in the low wealth city, those who did not receive this new wealth would rapidly find themselves crowded out of such markets, and materially worse off in terms of their ability to consume/purchase real estate (despite having participated in a weak Pareto improvement). In such situations, one cannot dismiss the relative effect of wealth on demand and supply, and cannot assume that these are static. (see also General equilibrium).
However, according to David Backus, an NYU economist, the wealth effect is not observable in economic data, at least in regards to increases or decreases in home or stock equity. For example, while the stock market boom in the late 1990s (q.v. dot-com bubble) increased the wealth of Americans, it did not produce a significant change in consumption, and after the crash, consumption did not decrease.
Economist Dean Baker disagrees and says that “housing wealth effect” is well-known and is a standard part of economic theory and modeling, and that economists expect households to consume based on their wealth. He cites approvingly research done by Carroll and Zhou that estimates that households increase their annual consumption by 6 cents for every additional dollar of home equity.
The wealth effect and the Paradox of Thrift are contradictory. The paradox assumes, incorrectly, that people will spend when they feel wealthy, based on the wealth effect, but not when they are actually more wealthy.
Wikipedia – The Wealth Effect
Bill Gates On His New Idea: Catalytic Giving
Bill Gates Biography
Bill Gates Biography. Documentary on the legendary Bill Gates – founder of Microsoft, one of the most powerful and richest companies in the world.
William Henry “Bill” Gates III (born October 28, 1955) is an American business magnate, investor, programmer, inventor and philanthropist. Gates is the former chief executive and current chairman of Microsoft, the world’s largest personal-computer software company, which he co-founded with Paul Allen.
He is consistently ranked among the world’s wealthiest people and was the wealthiest overall from 1995 to 2009, excluding 2008, when he was ranked third; in 2011 he was the wealthiest American and the second wealthiest person. During his career at Microsoft, Gates held the positions of CEO and chief software architect, and remains the largest individual shareholder, with 6.4 percent of the common stock. He has also authored and co-authored several books.
Gates is one of the best-known entrepreneurs of the personal computer revolution. Gates has been criticized for his business tactics, which have been considered anti-competitive, an opinion which has in some cases been upheld by the courts. In the later stages of his career, Gates has pursued a number of philanthropic endeavors, donating large amounts of money to various charitable organizations and scientific research programs through the Bill & Melinda Gates Foundation, established in 2000.
Gates stepped down as chief executive officer of Microsoft in January 2000. He remained as chairman and created the position of chief software architect. In June 2006, Gates announced that he would be transitioning from full-time work at Microsoft to part-time work, and full-time work at the Bill & Melinda Gates Foundation. He gradually transferred his duties to Ray Ozzie, chief software architect, and Craig Mundie, chief research and strategy officer. Gates’s last full-time day at Microsoft was June 27, 2008. He remains at Microsoft as non-executive chairman.
Advice From Bill Gates And Bono On How To Be A Rock Star Philanthropist
From the Forbes 400 Philanthropy Summit 2013: Two of the planet’s most influential people explain how together they’re finding solutions to the world’s biggest problems.
A Q&A Audience With Bill Gates
Bill Gates, Microsoft founder and co-chair of the Bill & Melinda Gates Foundation, joins ABC’s Q&A to face questions from the audience. He answers across a range of topics including global health, corporate tax evasion, robot warfare, philanthropy and social media.
Bill Gates Speech at Harvard University
Be inspired by Bill Gates – the most successful and the richest dropout in the world!
Bill Gates Aspirational Entrepreneur
Shenandoah University Mind of the Entrepreneur final project
Bill Gates on GM foods, vaccines and Monsanto Nwo Puppet
Bill Gates says slower growth GDP does not necessarily mean that we aren’t improving people’s lives around the world.