Entrepreneurs: Entrepreneurs: Leaders In Change Leaders In Change
Ida Manning Ida Manning Executive Director Executive Director Illinois Institute of Illinois Institute of
Entrepreneurship EducationEntrepreneurship Education
Admiral Zheng He Admiral Zheng He b. around 1371, d. 1433 b. around 1371, d. 1433
In seven voyages In seven voyages from 1405 to 1433, from 1405 to 1433, Zheng He spread Zheng He spread China's goods across China's goods across the world and the world and returned with returned with treasures for the treasures for the Ming Dynasty Ming Dynasty
Benjamin FranklinBenjamin Franklinb. 1706, d. 1790 b. 1706, d. 1790
A writer, publisher, A writer, publisher, inventor, politician inventor, politician and diplomat, he and diplomat, he always considered always considered himself a himself a businessman.businessman.
Mayer Amschel Mayer Amschel RothschildRothschildb. 1744, d. 1812 b. 1744, d. 1812
Rothschild's banking Rothschild's banking empire would stretch empire would stretch across Europe, across Europe, essentially becoming essentially becoming the world's first the world's first international bank international bank
John Jacob AstorJohn Jacob Astorb. 1763, d. 1848 b. 1763, d. 1848
Came to New York in Came to New York in poverty at age 20 and poverty at age 20 and built a near-monopoly in built a near-monopoly in the global fur trade. the global fur trade.
Astor poured his fur Astor poured his fur profits into New York profits into New York real estate; the income real estate; the income from the rents and the from the rents and the value of the land value of the land combined to make Astor combined to make Astor the wealthiest American the wealthiest American of his timeof his time
John RockefellerJohn Rockefellerb. 1839, d. 1937 b. 1839, d. 1937
Rockefeller started his Rockefeller started his first business selling first business selling grain and other goods grain and other goods before he was 20 .before he was 20 .
By buying out oil By buying out oil refineries around refineries around Cleveland and New York Cleveland and New York after the Civil War, after the Civil War, Rockefeller soon Rockefeller soon dominated the market dominated the market
Andrew CarnegieAndrew Carnegieb. 1835, d. 1919 b. 1835, d. 1919
The Scottish immigrant The Scottish immigrant and weaver's son built and weaver's son built a steel empire whose a steel empire whose mills churned out the mills churned out the railroads, ships, and railroads, ships, and structures of post-Civil structures of post-Civil War America—and War America—and created a fortune for created a fortune for himself in the process. himself in the process.
Estee LauderEstee Lauderb. 1907, d. 2004 b. 1907, d. 2004
In 1946, she founded the In 1946, she founded the company that bears her company that bears her name to sell makeup and name to sell makeup and perfume in high-end perfume in high-end department stores around department stores around the world the world
Lauder became a giant in Lauder became a giant in the nascent beauty industry the nascent beauty industry by making sure the quality by making sure the quality of her products exceeded of her products exceeded the expectations of her the expectations of her target market, namely target market, namely wealthy society women wealthy society women
George Washington George Washington CarverCarverb. 1864, d. 1943 b. 1864, d. 1943
Carver changed the Carver changed the South from being a South from being a one-crop land of one-crop land of cotton, to being cotton, to being multi-crop farmlands, multi-crop farmlands, with farmers having with farmers having hundreds of hundreds of profitable uses for profitable uses for their new cropstheir new crops
Henry FordHenry Fordb. 1863, d. 1947 b. 1863, d. 1947
Ford did not invent the Ford did not invent the automobile, but he automobile, but he made it affordable to the made it affordable to the middle class that he middle class that he helped create helped create
His manufacturing His manufacturing process created the process created the modern car industry, modern car industry, and with it, the car and with it, the car culture of the 20th culture of the 20th century century
Milton HersheyMilton Hersheyb. 1857, d. 1945 b. 1857, d. 1945
In 1905, Hershey In 1905, Hershey built the world's built the world's largest chocolate largest chocolate factory in factory in Pennsylvania Pennsylvania
Millions enjoy what Millions enjoy what once had been once had been reserved for the reserved for the wealthy. Selling "low-wealthy. Selling "low-cost luxury" became cost luxury" became a viable business a viable business model model
Harland “Colonel” SandersHarland “Colonel” Sandersb. 1890, d. 1980 b. 1890, d. 1980
Kentucky Fried Kentucky Fried Chicken, pioneered Chicken, pioneered by Colonel Harland by Colonel Harland Sanders, became Sanders, became one of the largest one of the largest quick service food quick service food service systems in service systems in the world the world
A billion "finger lickin' A billion "finger lickin' good" KFC dinners good" KFC dinners served annually in served annually in more than 80 more than 80 countries and countries and territories. territories.
Madam C.J. WalkerMadam C.J. Walkerb. 1867, d. 1919 b. 1867, d. 1919
Walker's line of hair-Walker's line of hair-and-beauty products and-beauty products geared toward blacks geared toward blacks tapped into a market tapped into a market ignored by other ignored by other businesses because businesses because of racism of racism
She set an example She set an example for generations of for generations of entrepreneurs in a entrepreneurs in a time when women time when women were still struggling were still struggling for voting rights for voting rights
Thomas EdisonThomas Edisonb. 1847, d. 1931 b. 1847, d. 1931
Edison's relentless Edison's relentless innovation made him the innovation made him the most prolific inventor of most prolific inventor of his time his time
Started as a telegraph Started as a telegraph operator but soon moved operator but soon moved on to refining that on to refining that technology and creating technology and creating others that would turn others that would turn the world on its head: a the world on its head: a device to turn power into device to turn power into light, a machine to light, a machine to record and play back record and play back sound sound
Ray KrocRay Krocb. 1902, d. 1984 b. 1902, d. 1984
Ray Kroc turned a Ray Kroc turned a California burger shack California burger shack into a brand whose golden into a brand whose golden arches span the globe arches span the globe
By investing in By investing in franchisees, Kroc drove franchisees, Kroc drove the inexorable growth of the inexorable growth of McDonald's and created McDonald's and created one of the most visible one of the most visible
brands in historybrands in history
Walt DisneyWalt Disneyb. 1901, d. 1966b. 1901, d. 1966
The first multimedia The first multimedia empire was built on empire was built on animation animation
He also founded He also founded Disneyland . Disneyland .
His company owns:His company owns: Buena Vista Pictures Buena Vista Pictures
Entertainment, ABC TV, Entertainment, ABC TV, ABC Family Channel, ABC Family Channel, and ESPN and ESPN
Earl GravesEarl Gravesb. 1935 b. 1935
Founded Black Founded Black Enterprise magazine in Enterprise magazine in 1970, a publication that 1970, a publication that recognized the recognized the expanding financial expanding financial power of the black power of the black community and helped community and helped spur its growthspur its growth
Boasts a paid circulation Boasts a paid circulation of half a million and has of half a million and has been profitable since its been profitable since its 10th issue 10th issue
Andy GroveAndy Groveb. 1936 b. 1936
He helped found Intel He helped found Intel and navigated the and navigated the company's shift from company's shift from making memory chips to making memory chips to microprocessors microprocessors
During his tenure as During his tenure as CEO from 1987 to 1998, CEO from 1987 to 1998, Intel grew at a rate of Intel grew at a rate of 30% annually 30% annually
W. K. KelloggW. K. Kelloggb. 1860, d. 1951 b. 1860, d. 1951
Kellogg's accidental Kellogg's accidental discovery, promoted with discovery, promoted with savvy marketing, savvy marketing, transformed the way transformed the way Americans eat breakfastAmericans eat breakfast
Kellogg grasped the idea Kellogg grasped the idea
that kids influence that kids influence buying decisions—buying decisions—galvanizing the brand's galvanizing the brand's success success
Martha StewartMartha Stewartb. 1941 b. 1941
Started a catering Started a catering business out of her business out of her Westport (Conn.) Westport (Conn.) home in 1976 home in 1976
Went on to expand Went on to expand into retail, publishing, into retail, publishing, television, and television, and merchandising merchandising
Azim Premji Azim Premji b. 1945 b. 1945
Premji built a leading Premji built a leading IT company as the IT company as the industry was growing industry was growing and he expanded and he expanded into the global into the global market by adhering market by adhering to rigorous to rigorous standards.standards.
Bill GatesBill Gatesb. 1955 b. 1955
By linking his Microsoft By linking his Microsoft software to IBM's first software to IBM's first PCs, he dominated the PCs, he dominated the industry industry
He developed a two-He developed a two-prong strategy of prong strategy of expanding the market expanding the market while maintaining a while maintaining a strong hold on strong hold on competitorscompetitors
Jeff BezosJeff Bezosb. 1964 b. 1964
Founded Founded Amazon.com, in Amazon.com, in 1994 1994
Bezos pioneered Bezos pioneered techniques that have techniques that have become staples of become staples of online sales.online sales.
Michael DellMichael Dellb. 1965 b. 1965
Created a new model Created a new model for PC sales for PC sales
Cutting out the retail Cutting out the retail middleman and middleman and custom-building custom-building computers to suit computers to suit buyers' needs put buyers' needs put Dell at the front of Dell at the front of the class of PC the class of PC makersmakers
Oprah WinfreyOprah Winfreyb. 1954 b. 1954 Oprah Winfrey turned Oprah Winfrey turned
her name into one of the her name into one of the most successful and most successful and respected brands in the respected brands in the world world
Leveraged that fame into Leveraged that fame into other interests: other interests: magazines, Web sites, magazines, Web sites, film and television film and television production and Social production and Social Entrepreneurship. Entrepreneurship.
Muhammad Yunus Muhammad Yunus b. 1940 b. 1940
2006 Nobel Peace 2006 Nobel Peace Prize winner, Prize winner, founded a banking founded a banking system 30 years ago system 30 years ago to lend small to lend small amounts of money to amounts of money to the rural poor in the rural poor in Bangladeshi villages Bangladeshi villages
Richard BransonRichard Bransonb. 1950 b. 1950 Richard Branson turned, Richard Branson turned,
Virgin, the mail-order Virgin, the mail-order record shop he opened record shop he opened in 1970 into a label he in 1970 into a label he sold 22 years later for sold 22 years later for nearly $1 billionnearly $1 billion
Brand includes mobile-Brand includes mobile-phone service, bridal phone service, bridal gowns, credit cards, and gowns, credit cards, and life insurance. Virgin life insurance. Virgin Group encompasses Group encompasses 200 companies in 30 200 companies in 30 countries and boasted countries and boasted $7.2 billion in sales in $7.2 billion in sales in 2002 2002
Steve JobsSteve Jobsb. 1955 b. 1955
The Apple co-The Apple co-founder combined founder combined simplicity with simplicity with innovation to emerge innovation to emerge from the Internet from the Internet boom as one of the boom as one of the lone tech companies lone tech companies that can butt heads that can butt heads with Microsoftwith Microsoft
Tom Anderson & Tom Anderson & Chris DeWolfeChris DeWolfe
Founders of Founders of MySpace.comMySpace.com
Registering 160,000 Registering 160,000 people per day with people per day with no marketing no marketing
As of September As of September 2007, there are over 2007, there are over 200 million accounts. 200 million accounts.
Ralph LaurenRalph Laurenb. 1939 b. 1939
Like many successful Like many successful entrepreneurs, Lauren entrepreneurs, Lauren was selling lifestyle was selling lifestyle more than productmore than product
Lauren imagined a Lauren imagined a market for men's market for men's fashion as large as that fashion as large as that for womenfor women
Sam WaltonSam Waltonb. 1918, d. 1992 b. 1918, d. 1992
The man who built The man who built the world's largest the world's largest retailer on low prices: retailer on low prices: Wal-Mart Wal-Mart
Bought direct from Bought direct from manufacturers and manufacturers and made his stores as made his stores as efficient as possible, efficient as possible, sending the savings sending the savings back to consumers back to consumers
Chad Hurley, 29; Steve Chad Hurley, 29; Steve Chen, 28 & Jawed Karim, 27Chen, 28 & Jawed Karim, 27
Founders of Founders of YouTubeYouTube
Broadcasts 100 Broadcasts 100 million short videos million short videos daily on myriad daily on myriad subjectssubjects
Sold to Google Sold to Google
Pierre OmidyarPierre Omidyarb. 1967 b. 1967 Founder of EBay, Founder of EBay,
which made the which made the promise of the promise of the Internet a reality by Internet a reality by connecting far-flung connecting far-flung customers with the customers with the goods they wanted to goods they wanted to buy buy
Tyler Barnett, 24Tyler Barnett, 24& Jason Ellman, 25 & Jason Ellman, 25
Founder of Los Founder of Los Angeles PR Firm, Angeles PR Firm, Barnett Ellman Barnett Ellman
Four-employee firm's Four-employee firm's revenues in 2006 were revenues in 2006 were around $15,000 a around $15,000 a month and estimates month and estimates doing about $30,000 a doing about $30,000 a month in 2007month in 2007
Lee Brown, 23; Lucas Lee Brown, 23; Lucas Brown, 23 & Lin Miao, 20 Brown, 23 & Lin Miao, 20
Founded marketing Founded marketing firm Tatto while firm Tatto while students at Babson students at Babson College in 2005 with College in 2005 with a $100 investment a $100 investment
Revenues are $25 Revenues are $25 million for 2007 and million for 2007 and expected to grow to expected to grow to $50 million by 2008$50 million by 2008
Deborah Umunnabuike, 23; Deborah Umunnabuike, 23; Jessica Umunnabuike, 21 & Jessica Umunnabuike, 21 & Vincent Choi, 23Vincent Choi, 23
Sisters are co-founders Sisters are co-founders of Avant Gaudy, an of Avant Gaudy, an online vintage clothing online vintage clothing shopshop
Almost 26,000 visitors Almost 26,000 visitors from more than 30 from more than 30 countries to their websitecountries to their website
Recruited Hong Kong native Recruited Hong Kong native Vincent Choi to bring a global Vincent Choi to bring a global perspective to the business perspective to the business and better reach shoppers in and better reach shoppers in AsiaAsia
Mitch Cohen, 20Mitch Cohen, 20 Started his latest Started his latest
company, ClixConnect, company, ClixConnect, to help online retailers to help online retailers improve customer improve customer service on their Web service on their Web sites sites
Started his first business Started his first business when he was 16when he was 16
The six-employee The six-employee business, has landed business, has landed about 70 clients so far about 70 clients so far
Max Crane, 19; Tyler Dikman, 23; David Max Crane, 19; Tyler Dikman, 23; David McIntosh, 20 & Darian Shirazi, 20McIntosh, 20 & Darian Shirazi, 20
Co-founders of nine-Co-founders of nine-person software person software application and application and social networking social networking company Redux company Redux
Began business in Began business in December 2006 and December 2006 and raised $1.65 million raised $1.65 million in venture capital in in venture capital in March, 2007 March, 2007
Francesco DeParis, 24Francesco DeParis, 24& Kyle Redinger, 24& Kyle Redinger, 24
Founders of DeParis Founders of DeParis Redinger, a boutique Redinger, a boutique investment bank that investment bank that specializes in mergers-specializes in mergers-and-acquisitions and-acquisitions advisory for small tech advisory for small tech firmsfirms
The firm, which opened The firm, which opened for business in for business in December, 2006, does December, 2006, does $10 million to $20 million $10 million to $20 million deals deals
Max Durovic, 24 Max Durovic, 24 & Michael Kenny, 23 & Michael Kenny, 23
This duo started their This duo started their own business, Aarrow own business, Aarrow Advertising, with $100Advertising, with $100
Employs 40 full-timers Employs 40 full-timers and 460 part-timers who and 460 part-timers who range between 16 and range between 16 and 25 years old 25 years old
Had $2.3 million in sales Had $2.3 million in sales in 2006 and projects in 2006 and projects $4.2 million this year $4.2 million this year
Gabriel Erbst, 24; Will Gabriel Erbst, 24; Will Geronimo, 25 & Dwight Lee, Geronimo, 25 & Dwight Lee, 24 24
Co-founders of Co-founders of TableXChange, an TableXChange, an online marketplace to online marketplace to buy and sell buy and sell restaurant restaurant reservations reservations
Expects the business Expects the business to be profitable by to be profitable by the end of 2007 the end of 2007
Eugene Fernandez, 24 & Eugene Fernandez, 24 & Richard Scalesse, 24 Richard Scalesse, 24
Founders of Unique Founders of Unique Squared, an audio Squared, an audio equipment online equipment online retail shopretail shop
Began in March, Began in March, 2007, with an initial 2007, with an initial investment of about investment of about $6,000 and is $6,000 and is already profitable already profitable
Ashutosh Gupta, 19Ashutosh Gupta, 19 Owner of Gupta Owner of Gupta
Financial ConsultingFinancial Consulting
Has clients with Has clients with revenues between revenues between $200,000 and $3.3 $200,000 and $3.3 million million
Estimates his Estimates his business will have business will have revenues between revenues between $150,000 and $150,000 and $300,000 this year$300,000 this year
Ben Keighran, 25 Ben Keighran, 25 Founder of Founder of
Bluepulse.com, where Bluepulse.com, where users can download a users can download a free application that free application that works on most Internet-works on most Internet-enabled phonesenabled phones
Downloaded by about 3 Downloaded by about 3 million people million people
Landed about $6 million Landed about $6 million in venture capitalin venture capital
Jake Kloberdanz, 24Jake Kloberdanz, 24 Launched Hope Wine, a Launched Hope Wine, a
winery that gives 50% of winery that gives 50% of the profits from sales of the profits from sales of its wines to charity its wines to charity
Hope Wine is available Hope Wine is available in about 100 locations in about 100 locations
Hope has donated Hope has donated $20,000 to charity since $20,000 to charity since launching, and he launching, and he estimates revenues of estimates revenues of $3 million to $5 million in $3 million to $5 million in 2008.2008.
Jasmine Lawrence, 16Jasmine Lawrence, 16 After a chemical hair After a chemical hair
relaxer caused almost all relaxer caused almost all of her hair to fall out, she of her hair to fall out, she decided to make her decided to make her ownown
After borrowing $2,000 After borrowing $2,000 from her parents, the from her parents, the high school junior high school junior launched her company, launched her company, Eden Body WorksEden Body Works
This year she expects to This year she expects to earn $100,000 in sales earn $100,000 in sales
Shawn Liu, 25 Shawn Liu, 25 Started bespoke clothing Started bespoke clothing
company Hillhouse company Hillhouse Tailors, which sells men's Tailors, which sells men's dress shirts made in dress shirts made in Shanghai to the U.S. Shanghai to the U.S. market that start at $65 market that start at $65
Through the company's Through the company's online store and revenue-online store and revenue-sharing agreements with sharing agreements with independent clothing independent clothing retailers, Liu estimates retailers, Liu estimates the company will have the company will have revenues of $1.2 million revenues of $1.2 million by 2009 by 2009
Amit Nar, 22 Amit Nar, 22 Founder of A Better Founder of A Better
Night’s Sleep, a Night’s Sleep, a center to test and center to test and treat sleep disorders treat sleep disorders such as apnea, such as apnea, insomnia, and insomnia, and narcolepsynarcolepsy
Expects revenues of Expects revenues of around $500,000 in around $500,000 in 2008 2008
Arun Parameswaran, 24 Arun Parameswaran, 24 & Arjun Parameswaran, & Arjun Parameswaran, 22 22
Founders of Founders of Astutant.com which Astutant.com which offers accounting offers accounting services to small- and services to small- and midsize businesses midsize businesses
Estimates that their Estimates that their companies will earn $4 companies will earn $4 million in revenue this million in revenue this year. By 2014 their goal year. By 2014 their goal is to pull in $100 millionis to pull in $100 million
Polina Raygorodskaya, 21 Polina Raygorodskaya, 21
Owner of a fashion Owner of a fashion production services production services business, Polina business, Polina FashionFashion
Has already Has already produced about 50 produced about 50 events, with price events, with price tags of $2,000 to tags of $2,000 to $15,000 per event $15,000 per event
Ashley Reed, 21 Ashley Reed, 21
Started ASR Started ASR Clothing, a line of Clothing, a line of streetwear hoodies, streetwear hoodies, jeans, and T-shirts jeans, and T-shirts
Her five-employee Her five-employee business has been business has been featured in featured in newspapers and newspapers and magazines magazines
Sarah Schupp, 25 Sarah Schupp, 25 Founder of University Founder of University
Parent Media which Parent Media which produces produces visitor/information visitor/information guides for parents of guides for parents of college studentscollege students
Expects around Expects around $800,000 in $800,000 in revenues in 2007 revenues in 2007
Rishi Shah, 25 Rishi Shah, 25 Created three-employee Created three-employee
Flying Cart to give small-Flying Cart to give small-business owners a way business owners a way to sell their products to sell their products online online
Estimates the business, Estimates the business, which now has more which now has more than 1,000 shops, will be than 1,000 shops, will be profitable by the spring profitable by the spring of 2008.of 2008.
Bryan Sims, 24Bryan Sims, 24
Founder of Brass Founder of Brass Media, a magazine Media, a magazine with a mission to with a mission to make money make money relevant to young relevant to young people people
Magazine now has Magazine now has about 450,000 about 450,000 readers readers
Nathaniel Stevens, 24 Nathaniel Stevens, 24 Started Yodle, an advertising Started Yodle, an advertising
services company that serves services company that serves local businesses that lack the local businesses that lack the time or expertise to advertise time or expertise to advertise onlineonline
Expects to have Expects to have approximately 1,000 approximately 1,000 customers by end of the year customers by end of the year
Received venture funding in Received venture funding in November, 2006, and plans November, 2006, and plans to open six to eight additional to open six to eight additional offices around the country offices around the country within the next 12 monthswithin the next 12 months
Alex Tchekmeian, 21 Alex Tchekmeian, 21 Owner of AKT Owner of AKT
Enterprises, which Enterprises, which consists of 15 consists of 15 businesses that revolve businesses that revolve around the music around the music industry and include industry and include merchandising, Web merchandising, Web development, and online development, and online ticketing services ticketing services
The business had $1.3 The business had $1.3 million revenues in 2006 million revenues in 2006 and estimates it will earn and estimates it will earn just over $3 million in just over $3 million in 2007 2007
Sam Altman, 22 Sam Altman, 22 & Nick Sivo, 22& Nick Sivo, 22
Started Loopt, a Started Loopt, a customized mapping customized mapping software for GPS-software for GPS-enabled phones that enabled phones that allows users to locate allows users to locate friends on a map via cell friends on a map via cell phone or Web site phone or Web site
The 35-employee The 35-employee company has received company has received $5 million in venture $5 million in venture funding funding
Ubong Attah, 23 Ubong Attah, 23
Owner of Owner of Studio10Fourteen, a Studio10Fourteen, a Web design firm & Web design firm & Prolete Medical Prolete Medical BillingBilling
Expects Prolete to Expects Prolete to have revenues of have revenues of around $4 million in around $4 million in 2008 2008
John RicoJohn Rico
President of Rico Enterprises, a company President of Rico Enterprises, a company specializing in sales, service, consulting, specializing in sales, service, consulting, project design, management and project design, management and installation installation
In business for 22 yearsIn business for 22 years
Nicki AndersonNicki Anderson
President/Owner of President/Owner of Reality Fitness, an Reality Fitness, an award-winning award-winning personal training personal training studiostudio
In business since In business since 19931993
Published author, Published author, columnist and fitness columnist and fitness professional professional
Entrepreneurship Entrepreneurship U.S. ViewU.S. View
SBA reports that small businessSBA reports that small business
Represented over 99% of all employersRepresented over 99% of all employers
Provided 75% of ALL new jobsProvided 75% of ALL new jobs
Produced 55% of innovationsProduced 55% of innovations
(As of 2000)(As of 2000)
Colleges and UniversitiesColleges and Universities
With Entrepreneurship MajorsWith Entrepreneurship Majors
1970 - 161970 - 16
2000 – over 14002000 – over 1400
““E” Education E” Education In High SchoolsIn High Schools
Kauffman Foundation Gallop PollKauffman Foundation Gallop Poll
90% of H.S. students rate their “E” 90% of H.S. students rate their “E” Knowledge as very poor or fair.Knowledge as very poor or fair.
7 out of 10 students want to start a 7 out of 10 students want to start a businessbusiness
84% believe it is important for schools to 84% believe it is important for schools to teach Entrepreneurship!teach Entrepreneurship!
Tomorrow’s Tomorrow’s Entrepreneurs are in Entrepreneurs are in our schools TODAY!!our schools TODAY!!
You can either work for an You can either work for an entrepreneur or be an entrepreneur or be an entrepreneur.entrepreneur.
Which will it be?Which will it be?
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