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Monday, July 8, 2013

109 Ways to Make Your Business Irresistible to the Media



By Elena
This post was first published in Copyblogger.com. My friend Patrick Garmoe, a former reporter, wrote this piece and received permission for us to reprint it here. Enjoy!

Irresistible PR
Ever wonder why some businesses get press and some don’t? Getting a mainstream media outlet to pay attention to your business seems like an impossible-to-solve mystery.
You might see your competitors spouting a diatribe that you know for a fact is wrong, or that you could explain better.
“Why did they interview that guy instead of me?” you wonder.
Actually, it’s not you. 99 times out of 100, it’s not your qualifications, your knowledge, or your ability.
It’s your approach.
After 10 years as a journalist, I’ve seen just about every bad pitch you can imagine. And I’ve also come up with 109 foolproof ways to entice the media in your city to highlight your business — approaches that make the mainstream media unable to resist you.
(And lots of them work just as well with bloggers and social media influencers.)

Build Relationships Months in Advance of Pitching

1. Connect on Twitter, LinkedIn, Facebook, or in real life more than six months in advance of pitching a reporter.
2. Monitor the Twitter hashtags of your community. Often reporters chat with the public on Twitter, and you can respond to comments they make.
3. Compliment a reporter via Twitter, Facebook, or e-mail on a story he or she did.
4. Introduce yourself to reporters at big public or chamber of commerce events. Pass along your card, but don’t try and sell them the idea on the spot. Just be helpful.
5. Invite reporters out for coffee, and ask a lot of questions about them.
6. Leave a comment at the end of the online version of a story a reporter did, which you genuinely liked.
7. Congratulate them on their birthdays, or other personal news they post.
8. Comb through Muck Rack to find regional or national reporters on Twitter who cover your industry.
9. Write a positive blog post on your blog highlighting a story of theirs, and e-mail them the link.
10. Respond regularly to posts they’ve written either on their blog, or on a local community blog you’ve noticed they post on.
11. Visit city council meetings in your town. Typically there’s a reporter sitting around bored, that you can build a relationship with.
12. Sign up on helpareporter.com. Several e-mail lists are sent out daily, full of reporters needing experts for stories. Jump on those that fall within your expertise.
13. Scout publications with smaller and more targeted readerships, such as a local business weekly publication. These media outlets are often run by just two or three people, and they’ll jump at a guest column or article by you because it’ll save them the time of tracking down a story on their own.
14. Listen to AM radio stations, especially on weekday mornings or on Saturdays. Befriend one of the regular show hosts. Often they’ll highlight any business that is doing something interesting the public might find interesting.
15. Nix spending money on an online press release site early on. Those online press release systems are more useful for building inbound links, or if you’re already a recognized expert with a track record, and there’s a major news event breaking that you could discuss.
16. Ask them if they’d mind if you added them to your email list. Then provide them with education-basedcontent marketing to sell them on doing a story about your business.

Once You’ve Met, Make The Pitch Transition Smooth

17. Say “yes” without fail if a reporter wants to interview you that day, even if it has to be over the phone or while you’re on vacation.
18. Offer occasional suggestions of angles you think would make great follow-up stories, especially that don’t have anything to do with your business. Nearly all stories are parts of a long-running issues, so reporters always need additional story follow-up ideas.
19. Offer to connect reporters to experts you know. If the reporter sounds interested, follow through with the offer.
20. Be a source for stories that fall within your expertise by letting reporters in your industry know you’re available when they need a source. This can lead to regular spots on the news.
21. Point reporters to blog posts you genuinely think they’d be interested in – whether on your blog or others. It validates you as an expert.
22. Treat journalists with respect. You’ll set yourself apart just by being friendly.
23. Keep a camera handy for “spot news” photo opportunities, and then pass along to the media outlet. This can be anything from a deer crashing into a department store while you happened to be there to a good shot of an event or store opening.
24. Offer to write a column on your specialty for the online website of a media site, or for a print publication in your area.

Ponder These Issues Prior to Pitching

25. Define the story in just one sentence, so you can easily explain it to the media in 10 seconds.
26. Include people in your story pitch. Many owners try to pitch their company’s achievements, but stories that sell normally have people involved, not just the company.
27. Focus on selling the benefits to viewers, listeners or readers first. It’s about their perspective of what you’re selling, not about how wonderful it would be for you to sell your product or service.
28. Think visually. When can a media station shoot video and pictures? If that’s not possible, are there video or pictures you can provide?
29. Avoid offering a posed or fake event or picture. They are typically frowned on by the media.
30. Hold an event where you’re actually doing what you’re talking about, and invite them to come, whether it’s to write a story, or just take a picture or video.
31. Post your video online for easy download, or put it on DVDs.
32. Seek permission from the individuals in a potential photo shoot ahead of time.
33. Highlight trends in which your business is just one of several examples. Nearly every trend can be turned into a story pitch, and it has the added advantage of letting you not hog the limelight, which reporters often don’t find appealing.
34. Provide actual users of your service or product for the media to interview. Their testimonials will boost your credibility.
35. Offer to review the facts or your quotes if you feel nervous the journalist misunderstood you. Don’t try to pressure the journalist into letting you review the entire article before publication, though, because media stations normally don’t allow this.
36. Provide a journalist with an expert to interview who has used and can vouch for your product. If you sell skin cream, for example, ask a dermatologist who likes your product to be available for an interview.
37. Copy relevant documents for the reporter, to provide at the interview, or prior to it.
38. Create a list of key dates and facts relevant to the story, along with potential quotes.
39. Write a couple paragraphs describing the process in simple terms, ideally with a drawing if the story is complex.
40. Write a killer press release in the form of a ready-made story, if submitting a story to a weekly or a daily in regions of fewer than 50,000 people. You’d be surprised how often a newspaper will print almost exactly what you sent.
41. Give reporters two weeks’ notice for an upcoming story or event.
42. Remain flexible. Reporters have days that are jam-packed with breaking news, and other days that are slower and more open to a less-urgent story like yours.
43. Choose to meet in person if an option, because the journalist will then get to know you better, and you’ll have more time with him or her.
44. Travel to where the story actually happens for the interview – whether in your office or an hour away at a gravel pit.
45. Muzzle the natural urge to provide stacks of background research. Most reporters don’t have the time or interest in looking through it.
46. Leap on breaking news relevant to your industry as a chance to put yourself in the local news. The shootings in Arizona presented an opportunity for anyone who deals with mental health to be interviewed on local radio, television and in the newspaper.
47. Pitch local stories to local reporters. National attention typically springs from local attention first.
48. Call ahead and pitch a story, if you’re showcasing your products at a local convention or other major event typically covered by the news. Otherwise reporters just walk the aisles and randomly choose businesses to speak with.
49. Watch the calendar, and pitch a story that would ideally run around major holidays, when things are often really slow in newsrooms.
50. Act enthusiastic. If you don’t seem excited about the idea, neither will they.
51. Express why this story is of value to your community. If it’s a story you wouldn’t bother watching or reading, don’t pitch it.
52. Show an image that encapsulates the story you’re trying to tell. When Google held a national competition, our video shot on a Flip Camera received national attention from a variety of media outlets because it easily showed in one image how wild the competition became.
53. Forget about giving up. Don’t be a pest, but keep trying every few weeks to pitch an idea, until a reporter gives a straight yes-or-no answer to your idea.
54. Write very short e-mails to reporters. Three or four sentences total. Your e-mail is much more likely to get read by busy reporters if it’s short and to the point.
55. Devote lots of time on e-mail subject lines to reporters. You can apply the same techniques for writingmagnetic headlines for blog posts – they make both readers and reporters want to know more about what you have to say.

21 Kinds of Reporter Bait

56. Hold a fundraising drive.
57. Do X for the 10th, 20th, 50th year.
58. Launch a brand new product.
59. Sell product X locally for the first time.
60. Provide an environmentally friendly version of a product everyone uses – and be the only local place to purchase it.
61. Link your underlying story pitch with some basic human emotion, like love, fear or hope. Start a knitting story in memory of your late aunt, who taught you about knitting.
62. Frame your story as a local example of a national or international issue currently in the news. If Congress is debating health care, and your clinic has developed a unique program for handling people without insurance, you’ve got a pitch.
63. Time a pitch about your company for a few weeks before your company’s anniversary.
64. Buck a trend. It’s Christmas Eve, and you’ve seen an uptick in your toy store sales, while everyone else has noticed a downturn.
65. Launch a product or service in your community no one locally has ever sold.
66. Highlight that you’re doing something most people are afraid to attempt, such as starting a business during a recession.
67. Brag. If you’ve been interviewed by a local media outlet, a larger one, or a major publication, play it up. It shows you’re desirable as a media interview.
68. Spotlight unique ties to major events. Show how your business has doubled through word of mouth marketing after volunteering for two weeks during Hurricane Katrina.
69. Share how you just hit X,000 regular subscribers on your blog, and show how that translates to online sales. This process remains foreign and therefore fascinating to most reporters.
70. Reveal how you’ve transitioned a primarily brick-and-mortar store into doing a healthy amount of online sales.
71. Announce that your business for the first time employs four generations of the same family.
72. Embrace anything that makes you unique. A local jewelry store owner in Northern Wisconsin received media coverage across all of Minnesota and Wisconsin simply because the owner felt the end of the world was coming soon, and incorporated it into his commercial.
73. Compile fascinating data. OkCupid.com mined its customer data to show which smartphone users have the most sex. What kind of irresistible statistic could you compile from your business?
74. Run a weird contest. Be the beauty parlor giving a makeover to the husband of the women who makes the best case that he looks like a slob.
75. Write an e-book. Just being able to say you’ve written a recently released “book” can be enough of a news hook for a story.
76. Look for sections in the newspaper that highlight interesting businesses, often under headlines like “What’s That Business.” Normally a simple phone call with a pitch will secure a feature on your business.

How To Become A Favorite Source for Reporters

77. Explain things chronologically if possible.
78. Speak slowly, so the reporter has time to take notes and mentally process what you’re saying.
79. Tell the story twice. The first time give the sweeping overview, and then return to the start of the story, and fill in all the details. The second time around you’ll remember more and fill in gaps in the narrative, and the reporter will ask better questions.
80. Respond to a reporter’s phone call or e-mail immediately, or as soon as humanly possible. Reporters love dependable, helpful people.
81. Provide information from most to least important if time is irrelevant to the topic.
82. Allow the reporter to lead the interview if he or she comes with questions.
83. Wear a company logo, and dark, solid colors on camera. Clothes with stripes or checkered patterns look bad on television.
84. Don’t waste time. Assume you won’t have more than half an hour to speak to the reporter.
85. Answer the obvious questions: Who, What, Where, When, Why, How and So What.
86. Ponder how you will answer every potential question, and don’t assume there won’t be any difficult ones.
87. Stay on topic.
88. Offer to return as a regular guest either weekly, monthly, or as needed, once your first interview concludes.
89. Send an e-mail or note a day after the interview talking about how you appreciated the reporter’s time, or how great the story was.
90. Provide a clear call to action, if there is one.
91. Ask the reporter to summarize what you said every few minutes during an interview. This typically gives you a better chance to clarify and reiterate key points.
92. Repeat your key couple of messages, so it’s more likely to make it in the story.
93. Refrain from saying “no comment” if you can’t answer a question. Explain why you’d prefer not to answer.
94. Remain flexible with the reporter, even if he or she decides to take the story in a direction that isn’t ideal in your eyes.
95. Assume anything you say will be printed or stated by the journalist. Avoid saying “off the record” unless the reporter verbally agrees to keep what you’re about to say out of the story.
96. Work with one news outlet at a time on a story.
97. Talk in short sentences, using simple English.
98. Avoid slang, industry vernacular or abbreviations.
99. Provide a business card with your name, title, and what numbers to reach you at both during and after business hours.
100. Contact the reporter every few weeks, to remain top of mind, and find out when the publication or air date will be.
101. Post on your website and other online outlets footage of you on television. Have someone record or videotape the segment while on television, just in case the station can’t or won’t provide you with a copy.
102. Propose being on a local Sunday show or early morning show, which often gives you 20 minutes to highlight your business.
103. Pre-write tweets and a blog post, so you can quickly tell friends, family, clients and supporters when the story runs without losing time.

A Few Important Don’ts

104. Don’t cold call. Warm up the reporter by sending an e-mail first, with a paragraph spelling out the bottom line of the story idea, then follow up with a call a few hours or a day later, depending on the urgency of the story.
105. If you must cold call due to time constraints, never call after 3 p.m.
106. Don’t neglect your headline. Without a good one, you’re dead.
107. Don’t try to get an editor. Their mentality is often to help reporters eliminate mediocre story ideas. Reach out for reporters instead – they’re looking for material.
108. Don’t show up in the newsroom unannounced.
109. Don’t mail information in unsolicited.
The list might seem insanely a bit daunting. But if all you do is take one step in each category (and respect all of the Don’ts), you’re likely to gain more coverage than any of your competitors. The bottom line is: reach out, be helpful, and get busy.
I’ll hang out in the comments section to help out anyone who has questions. But quite frankly, I’d rather see you out there, connecting with reporters, selling stories about you and your fantastic business successes.
The publicity is there for the taking. All you have to do is ask.

patrick garmoePatrick Garmoe serves as social media strategist for PureDriven, a Minnesota digital marketing agency that specializes in helping businesses spread great ideas both online and offline, and offers a free, four-part online seminar to teach you how to garner online and offline attention for your business. You can reach Patrick on Twitter @Garmoe.
Top image from Yuri Arcurs Website


Elena is founder of a technology PR agency that works with startups to billion-dollar companies. She is passionate about helping marketers and small business owners with practical publicity strategies.

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Sunday, July 7, 2013

53 ways to become a better entrepreneur


Here are 53 things to keep in mind if you want to be a better entrepreneur:
  1. Don’t let emotions cloud your decisions.
  2. Accept criticism, no matter who gives it to you.
  3. Never stop networking.
  4. Learn from your own mistakes.
  5. Learn from other people’s mistakes.
  6. Around every corner lies an opportunity for you to sell something.
  7. Don’t get too greedy… pigs get fat and hogs get slaughtered.
  8. Try not to mix your family life with your business life.
  9. No matter how successful you are, you shouldn’t stop learning.
  10. Spending money on good lawyers and accountants will save you more money in the long run.
  11. Don’t pick a stupid company name and if you do, don’t change it later on.
  12. Hiring employees won’t solve most of your problems.
  13. Be agile because slow and steady won’t win the race.
  14. Being agile isn’t enough, you also have to be scrappy too.
  15. Having a good business partner will be a key factor in your success.
  16. Don’t be afraid of the unknown.
  17. It is easier to save money than it is to make it.
  18. You don’t always have to innovate; there is nothing wrong with copying.
  19. Have a marketing plan.
  20. Don’t under estimate your competition; you can’t always know what they are doing.
  21. Watching movies like Boiler Room, will teach you how to sell.
  22. If you don’t have a business mentor, you better get one.
  23. Your income will be the average of your 5 closest friends, so pick them wisely.
  24. Diversifying is a good way to play things safe.
  25. It doesn’t matter what you want, it only matters what your customers want.
  26. When others are fearful, you should be greedy. And when they are greedy you should be fearful.
  27. You don’t always have to pay for advice. You’ll be amazed with the free advice you can get pick up from the web.
  28. The best chances you have of becoming rich is through your willingness of working hard.
  29. Even the most idiotic business idea can make money.
  30. Sex sells and it always will.
  31. An easy way to make more money is to up sell to your current customer base.
  32. Base your business decisions around metrics.
  33. There is no such thing as a safe bet.
  34. You don’t have to start a business to be successful.
  35. Raising venture capital is harder than being struck by lightening.
  36. Staying under the radar isn’t always a bad thing. Being out in the open is a great way to attract more competitors.
  37. Learn to be a team player.
  38. If you ever get screwed over, think twice before you burn the bridge.
  39. Learn to manage both your personal and business money.
  40. Live in a location filled with entrepreneurs.
  41. If you don’t take any risks, there will not be any rewards.
  42. Don’t let anything stand in your way.
  43. Sometimes you have to wait for good deals to come to you.
  44. The smartest route isn’t always the easiest route.
  45. Being too aggressive can backfire.
  46. With networking, it isn’t about whom you know, it is about whom your network knows.
  47. It’s never a bad thing to know too many rich people. Whether you like them or not, they can always come in handy. So make sure you always play nice with them.
  48. Use your email signature to promote your business.
  49. Don’t be afraid of social media. It is a great channel for customer acquisition.
  50. You’ll learn more from starting your own business, than going to business school.
  51. Having a personal blog doesn’t only help build your personal brand, but it helps your business as well.
  52. Your competitors don’t have to be your enemies, you can learn a lot from them.
  53. You can grow your business by working for free.

How Funding Works – Splitting The Equity Pie With Investors


A hypothetical startup will get about $15,000 from family and friends, about $200,000 from an angel investor three months later, and about $2 Million from a VC another six months later. If all goes well. See how funding works in this infographic:
how funding works splitting the equity infographic
First, let’s figure out why we are talking about funding as something you need to do. This is not a given. The opposite of funding is “bootstrapping,” the process of funding a startup through your own savings. There are a few companies that bootstrapped for a while until taking investment, like MailChimp and AirBnB.
If you know the basics of how funding works, skim to the end. In this article I am giving the easiest to understand explanation of the process. Let’s start with the basics.
Every time you get funding, you give up a piece of your company. The more funding you get, the more company you give up. That ‘piece of company’ is ‘equity.’ Everyone you give it to becomes a co-owner of your company.

Splitting the Pie

The basic idea behind equity is the splitting of a pie. When you start something, your pie is really small. You have a 100% of a really small, bite-size pie. When you take outside investment and your company grows, your pie becomes bigger. Your slice of the bigger pie will be bigger than your initial bite-size pie.
When Google went public, Larry and Sergey had about 15% of the pie, each. But that 15% was a small slice of a really big pie.

Funding Stages

Let’s look at how a hypothetical startup would get funding.

Idea stage

At first it is just you. You are pretty brilliant, and out of the many ideas you have had, you finally decide that this is the one. You start working on it. The moment you started working, you started creating value. That value will translate into equity later, but since you own 100% of it now, and you are the only person in your still unregistered company, you are not even thinking about equity yet.

Co-Founder Stage

 As you start to transform your idea into a physical prototype you realize that it is taking you longer (it almost always does.) You know you could really use another person’s skills. So you look for a co-founder. You find someone who is both enthusiastic and smart. You work together for a couple of days on your idea, and you see that she is adding a lot of value. So you offer them to become a co-founder. But you can’t pay her any money (and if you could, she would become an employee, not a co-founder), so you offer equity in exchange for work (sweat equity.) But how much should you give? 20% – too little? 40%? After all it is YOUR idea that even made this startup happen. But then you realize that your startup is worth practically nothing at this point, and your co-founder is taking a huge risk on it. You also realize that since she will do half of the work, she should get the same as you – 50%. Otherwise, she might be less motivated than you. A true partnership is based on respect. Respect is based on fairness. Anything less than fairness will fall apart eventually. And you want this thing to last. So you give your co-founder 50%.
Soon you realize that the two of you have been eating Ramen noodles three times a day. You need funding. You would prefer to go straight to a VC, but so far you don’t think you have enough of a working product to show, so you start looking at other options.
The Family and Friends Round: You think of putting an ad in the newspaper saying, “Startup investment opportunity.” But your lawyer friend tells you that would violate securities laws. Now you are a “private company,” and asking for money from “the public,” that is people you don’t know would be a “public solicitation,” which is illegal for private companies. So who can you take money from?
  1. Accredited investors – People who either have $1 Million in the bank or make $200,000 annually. They are the “sophisticated investors” – that is people who the government thinks are smart enough to decide whether to invest in an ultra-risky company, like yours. What if you don’t know anyone with $1 Million? You are in luck, because there is an exception – friends and family.
  2. Family and Friends – Even if your family and friends are not as rich as an investor,  you can still accept their cash. That is what you decide to do, since your co-founder has a rich uncle. You give him 5% of the company in exchange for $15,000 cash. Now you can afford room and ramen for another 6 months while building your prototype.

Registering the Company

To give uncle the 5%, you registered the company, either though an online service like LegalZoom ($400), or through a lawyer friend (0$-$2,000). You issued some common stock, gave 5% to uncle and set aside 20% for your future employees – that is the ‘option pool.’ (You did this because 1. Future investors will want an option pool;, 2. That stock is safe from you and your co-founders doing anything with it.)

The Angel Round

 With uncle’s cash in pocket and 6 months before it runs out, you realize that you need to start looking for your next funding source right now. If you run out of money, your startup dies. So you look at the options:
  1. Incubators, accelerators, and “excubators” – these places often provide cash, working space, and advisors. The cash is tight – about $25,000 (for 5 to 10% of the company.) Some advisors are better than cash, like Paul Graham at Y Combinator.
  2. Angels – in 2013 (Q1) the average angel round was $600,000 (from the HALO report). That’s the good news. The bad news is that angels were giving that money to companies that they valued at $2.5 million. So, now you have to ask if you are worth $2.5 million. How do you know? Make your best case.  Let’s say it is still early days for you, and your working prototype is not that far along. You find an angel who looks at what you have and thinks that it is worth $1 million. He agrees to invest $200,000.
Now let’s count what percentage of the company you will give to the angel. Not 20%. We have to add the ‘pre-money valuation’ (how much the company is worth before new money comes in) and the investment
$1,000,000 + $200,000=              $1,200,000  post-money valuation
(Think of it like this, first you take the money, then you give the shares. If you gave the shares before you added the angel’s investment, you would be dividing what was there before the angel joined. )
Now divide the investment by the post-money valuation $200,000/$1,200,000=1/6= 16.7%
The angel gets 16.7% of the company, or 1/6.

How Funding Works - Cutting the Pie

What about you, your co-founder and uncle? How much do you have left? All of your stakes will be diluted by 1/6. (See the infographic.)
Is dilution bad? No, because your pie is getting bigger with each investment. But, yes, dilution is bad, because you are losing control of your company. So what should you do? Take investment only when it is necessary. Only take money from people you respect. (There are other ways, like buying shares back from employees or the public, but that is further down the road.)

Venture Capital Round

Finally, you have built your first version and you have traction with users. You approach VCs. How much can VCs give you?   They invest north of $500,000. Let’s say the VC values what you have now at $4 million. Again, that is your pre-money valuation. He says he wants to invest $2 Million. The math is the same as in the angel round. The VC gets 33.3% of your company. Now it’s his company, too, though.
Your first VC round is your series A. Now you can go on to have series B,C – at some point either of the three things will happen to you. Either you will run out of funding and no one will want to invest, so you die. Or, you get enough funding to build something a bigger company wants to buy, and they acquire you. Or, you do so well that, after many rounds of funding, you decide to go public.

Why Companies Go Public?

There are two basic reasons. Technically an IPO is just another way to raise money, but this time from millions of regular people. Through an IPO a company can sell stocks on the stock market and anyone can buy them. Since anyone can buy you can likely sell a lot of stock right away rather than go to individual investors and ask them to invest. So it sounds like an easier way to get money.
There is another reason to IPO. All those people who have invested in your company so far, including you, are holding the so-called ‘restricted stock’ – basically this is stock that you can’t simply go and sell for cash. Why? Because this is stock of a company that has not been so-to-say “verified by the government,” which is what the IPO process does. Unless the government sees your IPO paperwork, you might as well be selling snake oil, for all people know. So, the government thinks it is not safe to let regular people to invest in such companies. (Of course, that automatically precludes the poor from making high-return investments. But that is another story.) The people who have invested so far want to finally convert or sell their restricted stock and get cash or unrestricted stock, which is almost as good as cash. This is a liquidity event – when what you have becomes easily convertible into cash.
There is another group of people that really want you to IPO. The investment bankers, like Goldman Sachs and Morgan Stanley, to name the most famous ones. They will give you a call and ask to be your lead underwriter – the bank that prepares your IPO paperwork and calls up wealthy clients to sell them your stock.  Why are the bankers so eager? Because they get 7% of all the money you raise in the IPO. In this infographic your startup raised $235,000,000 in the IPO – 7% of that is about $16.5 million (for two or three weeks of work for a team of 12 bankers). As you see, it is a win-win for all.

Being an Early Employee at a Startup

Last but not least, some of your “sweat equity” investors were the early employees who took stock in exchange for working at low salaries and living with the risk that your startup might fold. At the IPO it is their cash-out day.
Inspired by: How to Fund a Startup, Paul Graham

Saturday, July 6, 2013

FREE E-BOOK THE SECRET TO SUCCESS!

http://archive.org/details/TheSecretOfSuccess_201305

BACK TO THE FUTURE

100 Top Entrepreneurs Who Succeeded without a College Degree


In an earlier post, we posed the question, "Is College Necessary for Entrepreneurs?" While there are certainly good arguments for both sides, it's a fact that a college degree does not guarantee success. And there are countless determined entrepreneurs who have proven that success can be achieved despite a lack of higher education.
We have compiled a list of 100 amazing "degreeless" entrepreneurs who have risen to the top. Some high-profile entrepreneurs you will recognize immediately, while others you may be discovering for the first time. Many of them didn't complete elementary school, and still more are considered high school dropouts. Their backgrounds and industries run the gamut; however, they all have at least two things in common. Incredible success and no college degree.
My brother, Matthew, and I aren't on this list (didn't want to toot our own horns… well, at least not too loudly); however we count ourselves among the golden many who achieved success without attending college. Entrepreneurs at an early age, Matthew and I had already started six (toot toot) businesses by the time we graduated high school. We were both offered college scholarships, but turned them down – it was clear to us that college was not in our future. Within a week of graduating high school, we bought a bar/café/billiards location, which we overhauled, re-branded and turned into a hot spot; and on the 12-month we sold it for a great profit. Of course, we have gone on to start several more businesses, both offline and online, and we have never once looked back.
While we've listed our Top 100, we know there are hundreds (if not thousands) more entrepreneurs who have achieved success without a college a degree. Are you one of them? Let us know who we forgot by posting your comments below.

The List

  • 1. Abraham Lincoln, lawyer, U.S. president. Finished one year of formal schooling, self-taught himself trigonometry, and read Blackstone on his own to become a lawyer.
  • 2. Amadeo Peter Giannini, multimillionaire founder of Bank of America. Dropped out of high school.
  • 3. Andrew Carnegie, industrialist and philanthropist, and one of the first mega-billionaires in the US. Elementary school dropout.
  • 4. Andrew Jackson, U.S. president, general, attorney, judge, congressman. Home-schooled. Became a practicing attorney by the age of 35 – without a formal education.
  • 5. Andrew Perlman, co-founder of GreatPoint. Dropped out of Washington University to start Cignal Global Communications, an Internet communications company, when he was only 19.
  • 7. Ansel Adams, world-famous photographer. Dropped out of high school.
  • 8. Ashley Qualls, founder of Whateverlife.com, left high school at the age of 15 to devote herself to building her website business. She was more than a million dollars by 17.
  • 9. Barbara Lynch, chef, owner of a group of restaurants, worth over $10 million, in Boston. Dropped out of high school.
  • 10. Barry Diller, billionaire, Hollywood mogul, Internet maven, founder of Fox Broadcasting Company, chairman of IAC/InterActive Corp (owner of Ask.com),
  • 11. Ben Kaufman, 21-year-old serial entrepreneur, founder of Kluster. Dropped out of college in his freshman year.
  • 13. Billy Joe (Red) McCombs, billionaire, founder of Clear Channel media, real estate investor. Dropped out of law school to sell cars in 1950.
  • 14. Bob Proctor, motivational speaker, bestselling author, and co-founder of Life Success Publishing. Attended two months of high school.
  • 15. Bram Cohen, BitTorrent developer. Attended State University of New York at Buffalo for a year.
  • 16. Carl Lindner, billionaire investor, founder of United Dairy Farmers. Dropped out of high school at the age of 14.
  • 17. Charles Culpeper, owner and CEO of Coca Cola. Dropped out of high school.
  • 19. Coco Chanel, founder of fashion brand Chanel. A perfume bearing her name, Chanel No. 5 kept her name famous.
  • 20. Colonel Harlan Sanders, founder of Kentucky Fried Chicken (KFC). Dropped out of elementary school, later earned law degree by correspondence.
  • 21. Craig McCaw, billionaire founder of McCaw Cellular. Did not complete college.
  • 22. Dave Thomas, billionaire founder of Wendy’s. Dropped out of high school at 15.
  • 23. David Geffen, billionaire founder of Geffen Records and co-founder of DreamWorks. Dropped out of college after completing one year.
  • 24. David Green, billionaire founder of Hobby Lobby. Started the Hobby Lobby chain with only $600. High school graduate.
  • 25. David Karp, founder of Tumblr. Dropped out of school at 15, then homeschooled. Did not attend college.
  • 26. David Neeleman, founder of JetBlue airlines. Dropped out of college after three years.
  • 27. David Ogilvy, advertising executive and copywriter . Was expelled from Oxford University at the age of 20.
  • 28. David Oreck, multimillionaire founder of The Oreck Corporation. Quit college to enlist in the Army Air Corps.
  • 29. Debbi Fields, founder of Mrs. Fields Chocolate Chippery. Later renamed, franchised, then sold Mrs. Field's Cookies.
  • 30. DeWitt Wallace, founder and publisher of Reader’s Digest. Dropped out of college after one year. Went back, then dropped out again after the second year.
  • 31 .Dov Charney, founder of American Apparel. Started the company in high school, and never attended college.
  • 32. Dustin Moskovitz, multi-millionaire co-founder of Facebook. Harvard dropout.
  • 33. Frank Lloyd Wright, the most influential architect of the twentieth century. Never attended high school.
  • 34. Frederick "Freddy" Laker, billionaire airline entrepreneur. High school dropout.
  • 35. Frederick Henry Royce, auto designer, multimillionaire co-founder of Rolls-Royce.Dropped out of elementary school.
  • 36 .George Eastman, multimillionaire inventor, Kodak founder. Dropped out of high school.
  • 37. George Naddaff, founder of UFood Grill and Boston Chicken. Did not attend college.
  • 38. Gurbaksh Chahal, multimillionaire founder of BlueLithium and Click Again. Dropped out at 16, when he founded Click Again.
  • 39. H. Wayne Huizenga, founder of WMX garbage company, helped build Blockbuster video chain. Joined the Army out of high school, and later went to college only to drop out during his first year.
  • 41. Henry J. Kaiser, multimillionaire & founder of Kaiser Aluminum. Dropped out of high school.
  • 42. Hyman Golden, co-founder of Snapple. Dropped out of high school.
  • 43. Ingvar Kamprad, founder of IKEA, one of the richest people in the world, dyslexic.
  • 44. Isaac Merrit Singer, sewing machine inventor, founder of Singer. Elementary school dropout.
  • 45. Jack Crawford Taylor, founder of Enterprise Rent-a-Car. Dropped out of college to become a WWII fighter pilot in the Navy.
  • 46. Jake Nickell, co-founder and CEO of Threadless.com. Did not graduate from college.
  • 47. James Cameron, Oscar-winning director, screenwriter, and producer. Dropped out of college.
  • 48. Jay Van Andel, billionaire co-founder of Amway. Never attended college.
  • 49. Jeffrey Kalmikoff, co-founder and chief creative officer of Threadless.com. Did not graduate from college.
  • 50. Jerry Yang, co-founder of Yahoo! Dropped out of PhD program.
  • 51. Jimmy Dean, multimillionaire founder of Jimmy Dean Foods. Dropped out of high school at 16.
  • 52.  John D. Rockefeller Sr., billionaire founder of Standard Oil. Dropped out of high school just two months before graduating, though later took some courses at a local business school.
  • 53. John Mackey, founder of Whole Foods. Enrolled and dropped out college six times.
  • 54. John Paul DeJoria, billionaire co-founder of John Paul Mitchell Systems, founder of Patron Spirits tequilla. Joined the Navy after high school.
  • 55. Joyce C. Hall, founder of Hallmark. Started selling greeting cards at the age of 18. Did not attend college.
  • 56. Kemmons Wilson, multimillionaire, founder of Holiday Inn. High school dropout.
  • 57. Kenneth Hendricks, billionaire founder of ABC Supply. High school dropout.
  • 58. Kenny Johnson, founder of Dial-A-Waiter restaurant delivery. College dropout.
  • 59. Kevin Rose, founder of Digg.com. Dropped out of college during his second year.
  • 60. Kirk Kerkorian, billionaire investor, owner of Mandalay Bay and Mirage Resorts, and MGM movie studio. Dropped out eighth-grade.
  • 61. Larry Ellison, billionaire co-founder of Oracle software company. Dropped out of two different colleges.
  • 62. Leandro Rizzuto, billionaire founder of Conair. Dropped out of college. Started Conair with $100 and hot-air hair roller invention.
  • 63. Leslie Wexner, billionaire founder of a Limited Brands. Dropped out of law school. Started the Limited with $5,000.
  • 64. Marc Rich, commodities investor, billionaire. Founder of Marc Rich & Co. Did not finish college.
  • 65. Marcus Loew, multimillionaire founder of Loews theaters, co-founder of MGM movie studio. Elementary school dropout.
  • 67. Mary Kay Ash, founder of Mary Kay Inc. Did not attend college.
  • 68. Michael Dell, billionaire founder of Dell Computers, which started out of his college dorm room. Dropped out of college.
  • 69. Michael Rubin, founder of Global Sports. Dropped out of college in his first year.
  • 72. Pete Cashmore, founder of Mashable.com at the age of 19.
  • 73. Philip Green, Topshop billionaire retail mogul. Dropped out of high school.
  • 74. Rachael Ray, Food Network cooking show star, food industry entrepreneur, with no formal culinary arts training. Never attended college.
  • 75. Ray Kroc, founder of McDonald’s. Dropped out of high school.
  • 77. Richard DeVos, co-founder of Amway. Served in the Army and did not attend college.
  • 78. Richard Schulze, Best Buy founder. Did not attend college.
  • 79. Rob Kalin, founder of Etsy. Flunked out of high school, enrolled in art school for a time, faked a student ID at MIT so he could take classes. His professors subsequently helped him get into NYU, they were so impressed.
  • 80. Ron Popeil, multimillionaire founder of Ronco, inventor, producer, infomercial star. Did not finish college.
  • 81. Rush Limbaugh, multi-millionaire media mogul, radio talk show host. Dropped out of college.
  • 82. Russell Simmons, co-founder of Def Jam records, founder of Russell Simmons Music Group, Phat Farm fashions, bestselling author. Did not finish college.
  • 83. S. Daniel Abraham, founder of Slim-Fast, billionaire. Did not attend college.
  • 84. Sean John Combs, entertainer, producer, fashion designer, and entrepreneur. Never finished college.
  • 85. Shawn Fanning, developer of Napster. Dropped out of college at the age of 19.
  • 88. Steve Wozniak, co-founder of Apple, billionaire. Did not complete college.
  • 89. Ted Murphy, founder of social media company Izea Entertainment. Dropped out of college.
  • 90. Theodore Waitt, billionaire founder of Gateway Computers. Dropped out of college to start Gateway – one semester before graduating.
  • 91. Thomas Edison, inventor of the lightbulb, phonograph, and more. Primarily home-schooled, then joined the railroad when he was only 12.
  • 92. Tom Anderson, co-founder and “friend” of MySpace. Dropped out of high school.
  • 93. Ty Warner, billionaire developer of Beanie Babies, real estate investor, and hotel owner. Dropped out of college.
  • 94. Vidal Sassoon, founder of Vidal Sassoon, multimillionaire. Dropped out of high school.
  • 95. W. Clement Stone, multimillionaire insurance man, author, founder of Success magazine. Dropped out of elementary school. Later attended high school, graduating. Attended but did not finish college.
  • 96. W.T. Grant, founder of W.T. Grant department stores, multimillionaire. Dropped out of high school.
  • 97. Wally "Famous" Amos, multimillionaire entrepreneur, author, talent agent, founder ofFamous Amos cookies. Left high school at 17 to join the Air Force.
  • 99. Wolfgang Puck, chef, owner of 16 restaurants and 80 bistros. Quit school at the age of 14.
  • 100. Y.C. Wang, billionaire founder of Formosa Plastics. Did not attend high school.
For more successful people who didn’t complete college, including actors, sports stars, and more, check out http://www.collegedropoutshalloffame.com.

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