Rags to Riches, Success Stories To Inspire You

Nothing can inspire better than the success stories of some of the leading businesses which originated from small ordinary poor families.
They all turned into gems, learning from their failure, quality of perseverance & a stick decision to NEVER QUIT they achieved what they deserved.

Today they have made a history not just with their work but also with the rare skills of dealing obstacle so greatly that they became a “mentor” for million entrepreneurs.

 

Howard Schultzsuccess stories

He was born to a very poor family with 2 siblings. His parents did everything to make their children’s future stable & to make them free from burden of financial crisis but they didn’t know their son is going to be one of the wealthiest entrepreneur making a history.

“I saw my father losing his sense of dignity and self-respect. I am sure that this was caused mostly by the fact that he has been treated as an ordinary working man.” – Howard Schultz

At the age of 12 Howard starting earning by selling newspapers & also worked in a café.
After graduation he started working at a Swedish company Hamamaplast, which used to sell several home appliances including coffee makers. At work, he observed that one company orders more of coffee machines than other stores & became curious to meet the owners to know more about them & went to Seattle.

There was his love at first sight with STARBUCKS (original founders of starbucks : Jerry BaldwinZev Siegl, and  Gordon Bowker)
He was literally begging for a job bothering its director, Jerry Baldwin, with the phone calls. He got the acceptance as marketing director but with lesser salary which he was getting earlier, almost half.

Schultz made a proposal to focus on creating a network of coffee houses. But the CEO of Starbucks refused clearly. They thought the shop would lose its individuality. Getting disappointed he resigned to start up his own business with the same idea & inaugurated ‘Il Giornale’, (Italian pronunciation: [eel johr-nah-leh]) which became a great success with 300 people on first day.

A year later, Howard found out that the owners of Starbucks were going to sell their stores, the roasting factory, and brand as they could not manage functioning of the large company. They announced a price of $4 million, and Schulz immediately went to his creditors, persuading them to give him a new loan.
It is interesting to know that one of the early investors of Starbucks was Bill Gates, the founder of Microsoft.
The three founders of Starbucks stepped out & that’s how Schultz became the owner and manager at Starbucks.

 

Colonel Harland Sanderssuccess stories

“It’s never too late to start again”
Colonel Harland Sanders the founder of KFC holds tremendous inspiring history of its struggle days after retirement.
He was 65 when he was struggling to make his Kentucky Fried Chicken(KFC) recipe prove “finger licking good” throughout the globe. He had a lot of positive influence from those who tasted the chicken.

When everyone believed the sanctimony of retirement, the Colonel opted to sell the world on his cool new chicken recipe. He started traveling by car to different restaurants and cooked his fried chicken on the spot for restaurant owners. If the owner liked the chicken, they would enter into a handshake agreement to sell the Colonel’s chicken.
He was rejected one-thousand and nine times before his chicken was accepted once.

In front of his first KFC store the deal was for each piece of chicken the restaurant sold, Sanders would receive a nickel. By 1964, Colonel Sanders had 600 franchises selling his trademark chicken. At this time, he sold his company for $2 million dollars but remained as a spokesperson. In 1976, the Colonel was ranked as the world’s second most recognizable celebrity.

 

Samuel Waltonsuccess stories

The founder of WALMART is a self implied example of ‘from rags to riches’.
Samuel Walton a complete self made man did almost everything to earn his living. He did many odd jobs. Milked the family cow, bottled the surplus, and drove it to customers in addition sold the newspapers & magazines on paper routes & during his college, worked as a waiter in exchange of food.

After graduation, he joined the US Army during the World War II. After the war, he left the military and started managing a variety store at the age of 26.
The first true Wal-Mart opened on July 2, 1962 in Rogers, Arkansas. The rest is history. Forbes ranked Sam Walton as the richest person in the United States from 1982 to 1988. At the time of his death in 1992, he had 1,960 Wal-Mart stores, employed 380,000 people and clocked annual sales of about $50 billion.

 

Dr. Peter Bucksuccess stories

Fred DeLuca dreamed of becoming a medical doctor. To manage the pay for studies his friend suggested to run a sandwich business and he open a submarine sandwich shop.
With a loan of $1,000, the friend Dr. Peter Buck offered to become Fred’s partner, and a business relationship was forged that would change the landscape of the fast food industry.

The first store was opened in Bridgeport, Connecticut in August, 1965. Then, they set a goal of having 32 stores opened in 10 years. These early lessons continue to serve as the foundation for successful SUBWAY® restaurants around the world. It took them 8 years to understand the concept of franchising. They were completely new to this field.

By 1974, the duo owned and operated 16 submarine sandwich shops throughout Connecticut. Realizing they would not reach their 32 store goal in time, they began franchising, launching the SUBWAY® brand into a period of remarkable growth which continues to this day.
Today there are more than 40,000 SUBWAYS across globe & the counter is still growing with more digits every year.

 

Ratan Tatasuccess stories

TATA group the largest Indian multinational conglomerate; more than 65% of the group’s income comes from overseas and it has 98 operating companies (28 listed) spread across 56 countries in six continents.

During the phase Ratan  joining the well settled family business he probably wanted to stay in the United States after training as an architect at Cornell University. But the son of deputy group chairman Naval Tata and the nephew of JRD Tata couldn’t be allowed to work outside the group (he had an offer from IBM).

Ratan joined the family business, working on the Tata Steel shop floor at Jamshedpur, just one of several thousand employees. He got his first assignment as director of NELCO but Nelco was in dire straits when Ratan came on board — losses of 40% and barely 2% share of the consumer electronics market.

A weak economy and labour issues compounded the problem and Nelco was quickly near collapse. He got his second assignment with Empress Mills but Empress Mills floundered and was finally closed (by which time the infamous Mumbai textile workers’ strike had also taken its toll).
The two failures haunted Ratan for decades & was being blamed for downfall for Nelco & known to be a jinx for TATA.

That’s when JRD came forward in his defense & deflected the criticism.
Accordingly Ratan kept working with promoting seven hi-tech businesses under Tata Industries in the eighties: Tata Telecom, Tata Finance, Tata Keltron, Hitech Drilling Services, Tata Honeywell, Tata Elxsi and Plantek.

In 1988, he took over from Sumant Moolgaokar as Telco chairman — and promptly found himself at the centre of a prolonged labour dispute, perhaps the worst industrial relations slide in Tata history. Ratan stood firm and eventually the matter was resolved in the company’s favor.

Ratan says about Telco

“The first company in which I could actually do something. In other companies, I was always put in a fire-fighting situation.”

It was then the Tata Sons board decision was to make him group chairman. Tata Group historian R M Lala recalls speaking with JRD some 10 days after the announcement and asked whether Ratan had been chosen because of his integrity.

JRD said :

“Oh no, I wouldn’t say that; that would mean the others did not have integrity, I chose him because of his memory. Ratan will be more like me.”