welcome back for another edition of modeling the Masters where we look at
modeling the Masters where we look at
modeling the Masters where we look at the successful strategies of famous
the successful strategies of famous
the successful strategies of famous entrepreneurs my name is Evan Carmichael
entrepreneurs my name is Evan Carmichael
entrepreneurs my name is Evan Carmichael and I wanted to start off by thanking
and I wanted to start off by thanking
and I wanted to start off by thanking everybody who watched the last episode
everybody who watched the last episode
everybody who watched the last episode on Harley Davidson we’ve received almost
on Harley Davidson we’ve received almost
on Harley Davidson we’ve received almost 3,000 viewers so far and I wanted to
3,000 viewers so far and I wanted to
3,000 viewers so far and I wanted to continue the tradition today by talking
continue the tradition today by talking
continue the tradition today by talking about another successful entrepreneur
about another successful entrepreneur
about another successful entrepreneur Milton Hershey now while you may know
Milton Hershey now while you may know
Milton Hershey now while you may know Hershey foods today for its five billion
Hershey foods today for its five billion
Hershey foods today for its five billion dollars in revenue eleven thousand
dollars in revenue eleven thousand
dollars in revenue eleven thousand employees and all of his chocolate bars
employees and all of his chocolate bars
employees and all of his chocolate bars when the company was first started it
when the company was first started it
when the company was first started it was started by a young entrepreneur
was started by a young entrepreneur
was started by a young entrepreneur Milton Hershey who was eighteen years
Milton Hershey who was eighteen years
Milton Hershey who was eighteen years old had no money to his name and had to
old had no money to his name and had to
old had no money to his name and had to borrow $100 to his aunt just to get the
borrow $100 to his aunt just to get the
borrow $100 to his aunt just to get the company off the ground so today we’re
company off the ground so today we’re
company off the ground so today we’re going to learn about three factors that
going to learn about three factors that
going to learn about three factors that led to his success lesson number one is
led to his success lesson number one is
led to his success lesson number one is be persistent when Milton Hershey first
be persistent when Milton Hershey first
be persistent when Milton Hershey first got started he moved to Philadelphia
got started he moved to Philadelphia
got started he moved to Philadelphia started a new candy store and he worked
started a new candy store and he worked
started a new candy store and he worked 15 16 hour days every day to get the
15 16 hour days every day to get the
15 16 hour days every day to get the business off the ground he would make
business off the ground he would make
business off the ground he would make his candy overnight and then during the
his candy overnight and then during the
his candy overnight and then during the day go out and sell it after six years
day go out and sell it after six years
day go out and sell it after six years of trying and trying and trying the
of trying and trying and trying the
of trying and trying and trying the company eventually failed to thought I’m
company eventually failed to thought I’m
company eventually failed to thought I’m going to keep going I’m going to try it
going to keep going I’m going to try it
going to keep going I’m going to try it again in with the Chicago started the
again in with the Chicago started the
again in with the Chicago started the same business that I also failed you
same business that I also failed you
same business that I also failed you didn’t give up move to New Orleans
didn’t give up move to New Orleans
didn’t give up move to New Orleans try it again failed again closed down
try it again failed again closed down
try it again failed again closed down the business start it up again in New
the business start it up again in New
the business start it up again in New York tried to get the business off the
York tried to get the business off the
York tried to get the business off the ground we’re starting to get a few sales
ground we’re starting to get a few sales
ground we’re starting to get a few sales coming in but then he had his entire
coming in but then he had his entire
coming in but then he had his entire shop and inventory wrapped by a group of
shop and inventory wrapped by a group of
shop and inventory wrapped by a group of three children so we had to again
three children so we had to again
three children so we had to again declare bankruptcy shut down the
declare bankruptcy shut down the
declare bankruptcy shut down the business and after ten years of trying
business and after ten years of trying
business and after ten years of trying and trying and trying he didn’t give up
and trying and trying he didn’t give up
and trying and trying he didn’t give up he started new businesses again and
he started new businesses again and
he started new businesses again and eventually was able to build this
eventually was able to build this
eventually was able to build this successful company that we know today
successful company that we know today
successful company that we know today most entrepreneurs give up way too
most entrepreneurs give up way too
most entrepreneurs give up way too easily I’m not suggesting spend 10 years
easily I’m not suggesting spend 10 years
easily I’m not suggesting spend 10 years of failure to try to get your business
of failure to try to get your business
of failure to try to get your business off the ground but don’t quit at the
off the ground but don’t quit at the
off the ground but don’t quit at the first sign of trouble you may have to
first sign of trouble you may have to
first sign of trouble you may have to try something new you may have to move
try something new you may have to move
try something new you may have to move to new market bring new features in sell
to new market bring new features in sell
to new market bring new features in sell to new customers don’t give up the first
to new customers don’t give up the first
to new customers don’t give up the first sign of failure most entrepreneurs fail
sign of failure most entrepreneurs fail
sign of failure most entrepreneurs fail not because they have a
not because they have a
not because they have a idea just because they give up too
idea just because they give up too
idea just because they give up too quickly lesson number two is innovate
quickly lesson number two is innovate
quickly lesson number two is innovate after trying the same thing over and
after trying the same thing over and
after trying the same thing over and over and over again in four different
over and over again in four different
over and over again in four different cities after 10 years her she decided I
cities after 10 years her she decided I
cities after 10 years her she decided I gotta try something different so the big
gotta try something different so the big
gotta try something different so the big innovation that he did was he moved from
innovation that he did was he moved from
innovation that he did was he moved from caramels to chocolate in 1893 there was
caramels to chocolate in 1893 there was
caramels to chocolate in 1893 there was a new machine that was on the market in
a new machine that was on the market in
a new machine that was on the market in Europe that could help mass-produced
Europe that could help mass-produced
Europe that could help mass-produced chocolate so he decided the future was
chocolate so he decided the future was
chocolate so he decided the future was in chocolate he was going to do
in chocolate he was going to do
in chocolate he was going to do something different he was going to
something different he was going to
something different he was going to stand out from everybody else and he was
stand out from everybody else and he was
stand out from everybody else and he was going to be the first guy to make
going to be the first guy to make
going to be the first guy to make chocolate through machine up until that
chocolate through machine up until that
chocolate through machine up until that point
point
point chocolate was available but was handmade
chocolate was available but was handmade
chocolate was available but was handmade and for people with a lot of money it
and for people with a lot of money it
and for people with a lot of money it was a luxury item and by using the
was a luxury item and by using the
was a luxury item and by using the machine he was able to mass-produce
machine he was able to mass-produce
machine he was able to mass-produce chocolate similar to what Henry Ford did
chocolate similar to what Henry Ford did
chocolate similar to what Henry Ford did for the automobile first she was able to
for the automobile first she was able to
for the automobile first she was able to do for the chocolate industry so finally
do for the chocolate industry so finally
do for the chocolate industry so finally he realized I got to do something
he realized I got to do something
he realized I got to do something different I got to get out there I gotta
different I got to get out there I gotta
different I got to get out there I gotta innovate and he was the first one to
innovate and he was the first one to
innovate and he was the first one to bring mass-produced chocolate to the
bring mass-produced chocolate to the
bring mass-produced chocolate to the North American market which is one of
North American market which is one of
North American market which is one of the main reasons why he was able to
the main reasons why he was able to
the main reasons why he was able to achieve such success so look at your own
achieve such success so look at your own
achieve such success so look at your own business are you doing something
business are you doing something
business are you doing something different are you standing out from the
different are you standing out from the
different are you standing out from the market are you being innovative do
market are you being innovative do
market are you being innovative do something that is unique that nobody
something that is unique that nobody
something that is unique that nobody else has because if you’re doing the
else has because if you’re doing the
else has because if you’re doing the same thing that everybody else is doing
same thing that everybody else is doing
same thing that everybody else is doing in selling the same product same service
in selling the same product same service
in selling the same product same service in the same way then you could spend 10
in the same way then you could spend 10
in the same way then you could spend 10 years of your life like Milton Hershey
years of your life like Milton Hershey
years of your life like Milton Hershey did trying and trying and trying and not
did trying and trying and trying and not
did trying and trying and trying and not getting anywhere it’s not until you
getting anywhere it’s not until you
getting anywhere it’s not until you stand out and do something different
stand out and do something different
stand out and do something different that you’re really going to be able to
that you’re really going to be able to
that you’re really going to be able to take your company to that next level of
take your company to that next level of
take your company to that next level of success lesson number three is treat
success lesson number three is treat
success lesson number three is treat people with respect when Milton Hershey
people with respect when Milton Hershey
people with respect when Milton Hershey after ten years of failure came back
after ten years of failure came back
after ten years of failure came back home his parents actually disowned them
home his parents actually disowned them
home his parents actually disowned them they didn’t want anything to do with
they didn’t want anything to do with
they didn’t want anything to do with them they thought he was a failure he
them they thought he was a failure he
them they thought he was a failure he spent ten years and all this money
spent ten years and all this money
spent ten years and all this money basically wasting his time in their
basically wasting his time in their
basically wasting his time in their opinion so yet nowhere to go the only
opinion so yet nowhere to go the only
opinion so yet nowhere to go the only person he was able to call on was
person he was able to call on was
person he was able to call on was actually one of his former employees
actually one of his former employees
actually one of his former employees Henry who gave him room and board who
Henry who gave him room and board who
Henry who gave him room and board who helped pay for him to be able to bring
helped pay for him to be able to bring
helped pay for him to be able to bring his equipment back from New York so we
his equipment back from New York so we
his equipment back from New York so we can start up shop all over again
can start up shop all over again
can start up shop all over again and it was only because he treated his
and it was only because he treated his
and it was only because he treated his employees so well prior that he was able
employees so well prior that he was able
employees so well prior that he was able to call on them to be able to help him
to call on them to be able to help him
to call on them to be able to help him out when he really needed help he
out when he really needed help he
out when he really needed help he believed in that philosophy even when he
believed in that philosophy even when he
believed in that philosophy even when he got richer and was doing a lot better
got richer and was doing a lot better
got richer and was doing a lot better with this company the classic example is
with this company the classic example is
with this company the classic example is in 1929 when everything crashed started
in 1929 when everything crashed started
in 1929 when everything crashed started the Great Depression he was in the
the Great Depression he was in the
the Great Depression he was in the process of building new constructions
process of building new constructions
process of building new constructions for his little town and somebody came to
for his little town and somebody came to
for his little town and somebody came to him with an invention it was a steam
him with an invention it was a steam
him with an invention it was a steam shovel they said this steam shovel can
shovel they said this steam shovel can
shovel they said this steam shovel can help you save a lot of costs it can cut
help you save a lot of costs it can cut
help you save a lot of costs it can cut the work of 40 employees and have one
the work of 40 employees and have one
the work of 40 employees and have one person do the job of 40 and he said look
person do the job of 40 and he said look
person do the job of 40 and he said look at what’s going on in the economy these
at what’s going on in the economy these
at what’s going on in the economy these days get rid of the shovel hire the 40
days get rid of the shovel hire the 40
days get rid of the shovel hire the 40 workers and he was able to build up a
workers and he was able to build up a
workers and he was able to build up a lot of community support because of his
lot of community support because of his
lot of community support because of his philosophy of being able to continue to
philosophy of being able to continue to
philosophy of being able to continue to give back help others and be respectful
give back help others and be respectful
give back help others and be respectful so think about your own business
so think about your own business
so think about your own business think about the people you’ve seen your
think about the people you’ve seen your
think about the people you’ve seen your daily lives your employees your
daily lives your employees your
daily lives your employees your partner’s your investors your customers
partner’s your investors your customers
partner’s your investors your customers the media anybody would come across your
the media anybody would come across your
the media anybody would come across your next-door neighbor try to treat them
next-door neighbor try to treat them
next-door neighbor try to treat them with respect because you never know when
with respect because you never know when
with respect because you never know when you’re going to need to call on their
you’re going to need to call on their
you’re going to need to call on their help someday for your business I hope
help someday for your business I hope
help someday for your business I hope you’ve enjoyed this edition of modeling
you’ve enjoyed this edition of modeling
you’ve enjoyed this edition of modeling the masters I wanted to remind you that
the masters I wanted to remind you that
the masters I wanted to remind you that Milton Hershey started the business was
Milton Hershey started the business was
Milton Hershey started the business was an 18 year old kid didn’t know anything
an 18 year old kid didn’t know anything
an 18 year old kid didn’t know anything had no money the hundred dollar loan
had no money the hundred dollar loan
had no money the hundred dollar loan from his aunt to get the business
from his aunt to get the business
from his aunt to get the business started and he was able to build it up
started and he was able to build it up
started and he was able to build it up where now it’s a five billion dollar
where now it’s a five billion dollar
where now it’s a five billion dollar company with 11,000 employees you can
company with 11,000 employees you can
company with 11,000 employees you can achieve the same results with your
achieve the same results with your
achieve the same results with your business if you really want to follow
business if you really want to follow
business if you really want to follow the lessons from Milton Hershey if you
the lessons from Milton Hershey if you
the lessons from Milton Hershey if you are persistent if you innovate any treat
are persistent if you innovate any treat
are persistent if you innovate any treat people with respect you too can build a
people with respect you too can build a
people with respect you too can build a great company I hope you’ve enjoyed this
great company I hope you’ve enjoyed this
great company I hope you’ve enjoyed this edition if you want to learn more about
edition if you want to learn more about
edition if you want to learn more about famous entrepreneurs you can check out
famous entrepreneurs you can check out
famous entrepreneurs you can check out our website at Evan Carmichael com
our website at Evan Carmichael com
our website at Evan Carmichael com and I’ve recently launched a new blog as
and I’ve recently launched a new blog as
and I’ve recently launched a new blog as well the link is listed below that just
well the link is listed below that just
well the link is listed below that just talks about the famous entrepreneurs and
talks about the famous entrepreneurs and
talks about the famous entrepreneurs and how to model the success of famous
how to model the success of famous
how to model the success of famous entrepreneurs I also wanted to thank our
entrepreneurs I also wanted to thank our
entrepreneurs I also wanted to thank our sponsors
sponsors
sponsors fanta media for all the great video work
fanta media for all the great video work
fanta media for all the great video work that they’ve done on these episodes
that they’ve done on these episodes
that they’ve done on these episodes and I look forward to seeing you at the
and I look forward to seeing you at the
and I look forward to seeing you at the next edition of modeling the Masters
”
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