hi I’m Evan Carmichael and welcome to
another edition of modeling of masters
today we’re going to look at how an
inventor failed for 13 years right out
of money and turn his life around became
a millionaire and eventually sold his
business for fifty seven billion dollars
this is a story of King Jillette in this
Gillette razor company and a top three
lessons that you can learn from his
success
King Jillette was a creative
entrepreneur from the age of 17 dreamed
of making money from his adventures for
13 years he struggled to earn a living
and was scared that he would never live
up to the expectations of his parents
had room both his mother and father were
successful inventors and he was ashamed
that he had to take a job as a traveling
salesman to pay his bills because he
couldn’t make money for his inventions
like they had now 40 years old
don’t open the horizon and embarrass
July hit rock-bottom we moved back down
but not out
he refused to give up looking for Mentor
Gillett went to work for William painter
local entrepreneur who rented a special
type of auto car and turned it into a
profitable business hatred told Gillette
Nikita enormous riches was to invent
something customers used a product up
then throw it away so that keep coming
back for more
one morning while thinking about
painters advice Gillette was frustrated
with his razor its blades were dull and
were too worn out to be sharpened
suddenly he saw his opportunity make
disposable razor blades that could be
thrown away
Gillette rushed back to his room he went
to quick note to his wife I’ve got it
they read our fortune is made with a
$5,000 loan from investors Gillette open
up the Gillette safety razor company
he sold 51 razors and 168 plates in his
first year the following year he sold
90,000 888 razors and over 120 thousand
blades and never looked back
by the time July was 55 his company
dominated the razor industry and he was
ecstatic he had achieved his dreams of
becoming a millionaire just over a
century after the company was founded
sold Procter & Gamble for 57
by not giving up on his dream and by
seeking a mentor King Jillette was able
to overcome over a decade of failure and
finally make his parents proud I was
able to build a successful business and
whatever that means to help you pop your
ideas if you’re free a strategy for the
use of your business option atom number
one
don’t let experts tell you what you
can’t do as an entrepreneur it’s
important to see good advice after all
you don’t have all the answers and you
can’t do everything by yourself
don’t be embarrassed about asking stupid
questions it’s the fastest way to learn
be careful though not to take anyone’s
advice as being the only way to do
something make sure that makes sense for
you and keep looking for answers until
you find one that will work when
Gillette first came up with the idea for
a razor with disposable blades he was
elated but he needed mythologists to
help him make the product he went right
to the top and enlisted the help of
experts in a prestigious university MIT
the way he told him what he wanted they
told him it was impossible
according to Gillette the raise was
looked upon as a joke by all my friends
common greeting was well July housed a
razor if I had been technically trained
I would have quit unwilling to throw in
the towel Gillette kept looking until he
found someone who believed it was
possible and who could help him he got
his patent for the razor in 1901 and
proved the experts wrong
action item number two leverage other
brands to grow your business when you’re
first starting out customers don’t know
you and it can be hard to be taken
seriously one great way to overcome this
is to partner with other people
companies or associations and use their
name to give you more credibility having
the support of a recognized brand will
help you get through the clutter and
increase the chances that prospects will
buy from you in the company’s early days
Gillette focuses marketing on uniqueness
of his razors compared to those that
have come before as knockoffs at the
market he had to change his approach so
he began cultivating a number of brand
associations Gillette right ads of
featured testimonials from the likes of
Baseball Hall of Fame shortstop
Honus Wagner Wagner was the most popular
baseball player of this generation and
the celebrity endorsement proved to be a
huge success for Gillette Sales Gillette
started a new trend in the world of
advertising no long we did an ad speak
to the products benefits instead
Gillette began to associate his products
with an image of the lifestyle he wanted
to convey
Vilnius that people were not just buying
a product we’re buying into an idea a
new Gillette shaving one from being a
mundane morning ritual for most men than
being an important experience with the
right razor and Gillette razor shaving
could transform you into a powerful
athletic Medtronic man just like the
sports figures in his axe that idea took
Gillette from being just another razor
company to being one of a kind
accidental number three form
partnerships to build your customer base
partners can give you credibility and
they can also explode your customer list
a great way to break into a market is to
look at who is currently working with
your target audience and then partner up
with them so they can do the selling for
you
Gillette was always looking for an angle
to promote his business and stay ahead
of the competition when world war 1 hit
he made a vital decision give a Gillette
razor to every soldier in the service he
sold razors for the government at cost
and let them distribute they designed a
special metal case shaving kit for every
American soldier as touting that every
man in khaki oughta have one
the US government took to light up on
his offer in order 3.5 million razors 36
million razor blades for all of its
soldiers as a result Gillette had to
hire more than 500 new employees walked
around the clock to get the order filled
but Gillette suggests so is not just
about being a one-time promotional
scheme by supplying American shoes with
razors who is securing his future he had
created huge base of customers who had
grown accustomed to the Gillette razor
keep coming back from blade refills
long after the war’s over so remember
don’t let experts tell you what you
can’t do leverage other brands to build
your business and form partnerships to
grow your customer base I wanted to end
this video today by sharing one of my
favorite true stories volcania life
always a big thinker in 1910 Gillette
wrote a business plan for a new company
offered former u.s. President Theodore
Roosevelt the presidency of the company
as a salary Gillette was prepared to pay
a fee of 1 million dollars or roughly 25
million in today’s dollars
Roosevelt declined the offer thank you
for joining me for another edition of
welding the masters if you enjoyed the
video please give it a thumbs up below I
also love to hear your thoughts if you
want to leave a comment below the video
and stay tuned to the next episode
you
another edition of modeling of masters
today we’re going to look at how an
inventor failed for 13 years right out
of money and turn his life around became
a millionaire and eventually sold his
business for fifty seven billion dollars
this is a story of King Jillette in this
Gillette razor company and a top three
lessons that you can learn from his
success
King Jillette was a creative
entrepreneur from the age of 17 dreamed
of making money from his adventures for
13 years he struggled to earn a living
and was scared that he would never live
up to the expectations of his parents
had room both his mother and father were
successful inventors and he was ashamed
that he had to take a job as a traveling
salesman to pay his bills because he
couldn’t make money for his inventions
like they had now 40 years old
don’t open the horizon and embarrass
July hit rock-bottom we moved back down
but not out
he refused to give up looking for Mentor
Gillett went to work for William painter
local entrepreneur who rented a special
type of auto car and turned it into a
profitable business hatred told Gillette
Nikita enormous riches was to invent
something customers used a product up
then throw it away so that keep coming
back for more
one morning while thinking about
painters advice Gillette was frustrated
with his razor its blades were dull and
were too worn out to be sharpened
suddenly he saw his opportunity make
disposable razor blades that could be
thrown away
Gillette rushed back to his room he went
to quick note to his wife I’ve got it
they read our fortune is made with a
$5,000 loan from investors Gillette open
up the Gillette safety razor company
he sold 51 razors and 168 plates in his
first year the following year he sold
90,000 888 razors and over 120 thousand
blades and never looked back
by the time July was 55 his company
dominated the razor industry and he was
ecstatic he had achieved his dreams of
becoming a millionaire just over a
century after the company was founded
sold Procter & Gamble for 57
by not giving up on his dream and by
seeking a mentor King Jillette was able
to overcome over a decade of failure and
finally make his parents proud I was
able to build a successful business and
whatever that means to help you pop your
ideas if you’re free a strategy for the
use of your business option atom number
one
don’t let experts tell you what you
can’t do as an entrepreneur it’s
important to see good advice after all
you don’t have all the answers and you
can’t do everything by yourself
don’t be embarrassed about asking stupid
questions it’s the fastest way to learn
be careful though not to take anyone’s
advice as being the only way to do
something make sure that makes sense for
you and keep looking for answers until
you find one that will work when
Gillette first came up with the idea for
a razor with disposable blades he was
elated but he needed mythologists to
help him make the product he went right
to the top and enlisted the help of
experts in a prestigious university MIT
the way he told him what he wanted they
told him it was impossible
according to Gillette the raise was
looked upon as a joke by all my friends
common greeting was well July housed a
razor if I had been technically trained
I would have quit unwilling to throw in
the towel Gillette kept looking until he
found someone who believed it was
possible and who could help him he got
his patent for the razor in 1901 and
proved the experts wrong
action item number two leverage other
brands to grow your business when you’re
first starting out customers don’t know
you and it can be hard to be taken
seriously one great way to overcome this
is to partner with other people
companies or associations and use their
name to give you more credibility having
the support of a recognized brand will
help you get through the clutter and
increase the chances that prospects will
buy from you in the company’s early days
Gillette focuses marketing on uniqueness
of his razors compared to those that
have come before as knockoffs at the
market he had to change his approach so
he began cultivating a number of brand
associations Gillette right ads of
featured testimonials from the likes of
Baseball Hall of Fame shortstop
Honus Wagner Wagner was the most popular
baseball player of this generation and
the celebrity endorsement proved to be a
huge success for Gillette Sales Gillette
started a new trend in the world of
advertising no long we did an ad speak
to the products benefits instead
Gillette began to associate his products
with an image of the lifestyle he wanted
to convey
Vilnius that people were not just buying
a product we’re buying into an idea a
new Gillette shaving one from being a
mundane morning ritual for most men than
being an important experience with the
right razor and Gillette razor shaving
could transform you into a powerful
athletic Medtronic man just like the
sports figures in his axe that idea took
Gillette from being just another razor
company to being one of a kind
accidental number three form
partnerships to build your customer base
partners can give you credibility and
they can also explode your customer list
a great way to break into a market is to
look at who is currently working with
your target audience and then partner up
with them so they can do the selling for
you
Gillette was always looking for an angle
to promote his business and stay ahead
of the competition when world war 1 hit
he made a vital decision give a Gillette
razor to every soldier in the service he
sold razors for the government at cost
and let them distribute they designed a
special metal case shaving kit for every
American soldier as touting that every
man in khaki oughta have one
the US government took to light up on
his offer in order 3.5 million razors 36
million razor blades for all of its
soldiers as a result Gillette had to
hire more than 500 new employees walked
around the clock to get the order filled
but Gillette suggests so is not just
about being a one-time promotional
scheme by supplying American shoes with
razors who is securing his future he had
created huge base of customers who had
grown accustomed to the Gillette razor
keep coming back from blade refills
long after the war’s over so remember
don’t let experts tell you what you
can’t do leverage other brands to build
your business and form partnerships to
grow your customer base I wanted to end
this video today by sharing one of my
favorite true stories volcania life
always a big thinker in 1910 Gillette
wrote a business plan for a new company
offered former u.s. President Theodore
Roosevelt the presidency of the company
as a salary Gillette was prepared to pay
a fee of 1 million dollars or roughly 25
million in today’s dollars
Roosevelt declined the offer thank you
for joining me for another edition of
welding the masters if you enjoyed the
video please give it a thumbs up below I
also love to hear your thoughts if you
want to leave a comment below the video
and stay tuned to the next episode
you
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