TOMS Brand, Blake Mycoskie | How to Make the Most Out of Business Failure

TL;DR

Blake Mycoskie, founder of TOMS, shares his journey of how he started the company and the impact it has made.

Transcript

hi I'm Blake Mycoskie the founder and chief shoe giver of Tom's and you're watching behind the brand with Brian Elliott Pam Brian Elliott welcome to another edition of behind the brand today I'm here with Blake at Tom's headquarters Blake thanks for having me I'm so glad you're here I usually ask my guests how'd you get this job yeah well I had the... Read More

Key Insights

• 👶 Mycoskie's desire to help children in need fueled the creation of TOMS and its one-for-one business model.
• 🖐️ His parents' support and belief in his abilities played a significant role in his entrepreneurial success.
• 💦 Mycoskie's background as a tennis player taught him discipline and work ethic, which are crucial traits for entrepreneurs.
• 🥺 The disappointment of his injury ultimately led him to discover his true calling as an entrepreneur.
• 👨‍💼 Mycoskie's belief in the idea of everything happening for a reason has shaped his perspective on life and business.
• 🏂 Vision boards and manifesting have been important tools for Mycoskie in achieving his goals.
• 🖐️ Personal connections and synchronicities have played a significant role in Mycoskie's journey.

Questions & Answers

Q: How did Blake Mycoskie come up with the idea for TOMS?

Mycoskie was inspired to start TOMS after seeing children in Argentina without shoes. He wanted to create a business model where for every pair of shoes sold, a pair would be given to a child in need.

Q: How supportive were Mycoskie's parents of his entrepreneurial endeavors?

Mycoskie's parents were supportive of his decision to drop out of college and start a laundry business. They believed in his ability to build a career and encouraged him to pursue his passion.

Q: How did Mycoskie's background as a tennis player contribute to his success as an entrepreneur?

Mycoskie's training as a young tennis player instilled in him a strong work ethic and discipline. These qualities helped him overcome challenges and propel his career as an entrepreneur.

Q: How did Mycoskie handle the disappointment of getting injured and ending his tennis career?

Initially devastated, Mycoskie eventually came to realize that his injury was a blessing in disguise. It led him to start his first business, the laundry business, which paved the way for his entrepreneurial journey.

Summary & Key Takeaways

• Blake Mycoskie started TOMS after seeing children in Argentina who didn't have shoes. He wanted to use entrepreneurship to solve a societal problem.

• His parents were supportive of his entrepreneurial ventures, even when he dropped out of college to start a laundry business.

• Mycoskie attributes his work ethic and discipline to his training as a young tennis player, which helped him succeed as an entrepreneur.