"Doors slam literally in your face--maybe 30, 40 doors before the first customer will actually talk to you and let you in," said John Paul DeJoria (Founder of Paul Mitchell) in an interview with a business magazine about how he went from startup to billionaire. I was reading his story and wanted to share it with you for your startup painkiller. John Paul started Paul Mitchell with $700 and built it into a $900 million-a-year hair care business. He also became a billionaire with help from his other startup--Patron tequila.
How did he do it? Well, just in case you're reading this and thinking of your start-up business pain and how impossible the journey looks, just in case you're thinking that this story sounds good but it can never be you because your circumstances are worse, let me walk you through a few heartaches that John Paul DeJoria endured:
He was once homeless. Upon starting Paul Mitchell, he had been waiting on half a million dollars from a potential investor. The money never showed up. Before that, he had given all the money he had to his wife once he moved out. With no home and no money, he had to sleep in his car.
He struggled to get startup funds. The $700 he was able to get was a result of $350 from his partner and $350 borrowed funds from his mother. They used the money to pay for the design of the products. Soon after, he was going from door-to-door and trying to sell his products to people and salons.
He waited patiently. John Paul knew that he was bootstrapping a business. He put all of his effort into the business and waited to reap the rewards. He didn't seek quick rewards. Paul Mitchell was started in 1980 and he didn't start his second company (Patron) until 1989. He waited two years before giving himself $2000 from the business.
He didn't hesitate to start his business during a down economy. When he started his business, unemployment was up to 10%. He kept one thing in mind, "You can do it, no matter what you have."
When you find yourself starting to complain and get discouraged during your business development, be reminded of this quote from John Paul DeJoria, a man who went from homelessness to millions:
How did he do it? Well, just in case you're reading this and thinking of your start-up business pain and how impossible the journey looks, just in case you're thinking that this story sounds good but it can never be you because your circumstances are worse, let me walk you through a few heartaches that John Paul DeJoria endured:
He was once homeless. Upon starting Paul Mitchell, he had been waiting on half a million dollars from a potential investor. The money never showed up. Before that, he had given all the money he had to his wife once he moved out. With no home and no money, he had to sleep in his car.
He struggled to get startup funds. The $700 he was able to get was a result of $350 from his partner and $350 borrowed funds from his mother. They used the money to pay for the design of the products. Soon after, he was going from door-to-door and trying to sell his products to people and salons.
He waited patiently. John Paul knew that he was bootstrapping a business. He put all of his effort into the business and waited to reap the rewards. He didn't seek quick rewards. Paul Mitchell was started in 1980 and he didn't start his second company (Patron) until 1989. He waited two years before giving himself $2000 from the business.
He didn't hesitate to start his business during a down economy. When he started his business, unemployment was up to 10%. He kept one thing in mind, "You can do it, no matter what you have."
When you find yourself starting to complain and get discouraged during your business development, be reminded of this quote from John Paul DeJoria, a man who went from homelessness to millions:
" The difference between successful people and unsuccessful people is that successful people do all the things unsuccessful people don't want to do."
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