Startups

These Entrepreneurs Went Ultra Lean in Their Early Days

  • 4 min Read
  • March 25, 2020

Author

Escalon

Table of Contents

Small budgets don’t necessarily mean small companies. These founders started out their entrepreneurial pursuits by going lean, but they eventually grew into major forces in their industries. Here’s the scoop on how lean they went.

1. Phil Knight: Nike

Knight was a track athlete who founded Nike with his coach, Bill Bowerman, in 1964. Now, Nike is an international brand of footwear, apparel and accessories. With no official sales headquarters in their early days, the founders sold their shoes out of the trunks of their cars at different track meets.

In 1965, they had enough revenue to hire their first full-time employee. Nike’s initial retail store opened its doors in Santa Monica, Calif., in 1966. The firm secured its first commercial funding of $3,000 from First National Bank of Oregon. Today, with the growing number of outlets and online sales, Nike’s current net worth has been estimated at over $34 billion by Statista.

2. Henry Ford: Ford Motor Company

In 1903, Henry Ford established the Ford Motor Company, an automobile maker that had to overcome myriad struggles and adapt through several stages. He worked from a rented property until the first car was ready in 1908. Earlier cars were built one at a time to save money and create wider margins.

In 1913, Ford introduced the world’s first moving car assembly line for fast and efficient car manufacturing. This method significantly decreased labor from the traditional 12-hour period down to just two hours. Thus, overall manufacturing costs and time decreased, allowing the Model T — the most popular car — to see a unit price reduction from $850 to $290.

3. Walt Disney: The Walt Disney Company

Disney was a cartoonist, animator, voice talent, film producer and one of the most inspiring entrepreneurs in the animation and cartoon industry. He was not born to privilege, although through his persistent hard work he gained success via The Walt Disney Company.

While working on the animation for “Alice’s Wonderland” in the 1920s, Disney lived in his office so he wouldn’t have to pay for a home, ate beans and bathed at railway stations. Those lean early days eventually paid off, and The Walt Disney Company is now worth an estimated $130 billion

4.

 

Sam Walton: Walmart

Walton worked his way up to being a chain store owner, first taking a loan from his father-in-law to initially open a smaller group of stores, eventually opening the first Walmart in 1962.

The retail chain expanded internationally over the next 30 years, growing into the world’s largest company by 2010. Even when he became the US’ richest man, Walton continued living frugally, driving a pickup truck with missing hubcaps and occupying a desk at a small office in Arkansas.

5. John Jacob Bausch: Bausch & Lomb

In 1853, Bausch started one of the first optical companies in Rochester, N.Y., which later became the international firm Bausch & Lomb Incorporated, a maker of glasses, contact lenses and related products. Bausch’s friend Henry Lomb invested $60 in the shop and became his partner in 1855. Bausch got basic professional training in grinding lenses and making eyeglasses from his older brother, and used that expertise to do all of the work himself while creating the spectacles, despite having lost two fingers in a buzz saw accident. In the company’s early days, Bausch used old shoes for fuel and scraped by on $4.00 a week.

In 1860, Bausch built the first machine in America to produce spectacles, and secured the exclusive rights to manufacture optical instruments out of vulcanite rubber. The following year, he experimented making eyeglass frames from the material. Fast forward to 2007, Bausch & Lomb was sold in a deal worth an estimated $8 billion.

Talk to our team today to learn how Escalon can help take your company to the next level.

  • Expertise you can trust

    Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.

  • Quality and consistency

    Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.

  • Scalability and Flexibility

    Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.

Contact Us Today!

Tap into the latest insights from experts in your industry

Accounting & Finance

October 15 Tax Deadline: What to Double Check Before You File

If your business or personal tax return was extended back in April, October 15 is the final deadline to submit....

Accounting & Finance

Key Financial Deadlines Every SMB Should Know for Q3 and Q4 

For small and mid-sized businesses, the second half of the year often comes with increased operational demands, from budgeting and...

Small Businesses

From Bookkeeping to Strategic Finance: Preparing Your Family Business for Growth

Is Your Family Business Ready for Its Next Chapter? As a family business leader, you've built something remarkable. Through years...

Accounting & Finance

Subscription Revenue in 2025: Fatigue, Churn, and the Imperative to Diversify 

For much of the last decade subscription models symbolized modern growth, predictable revenue, sticky customer relationships, and rising valuations. But...

Accounting & Finance

Closing the Books in Q4: Common Mistakes That Delay Reporting 

Closing the books at year-end is one of the most important financial events for any growing business. It sets the...

Leadership & Growth

Building a Scalable Tech Stack: How to Choose the Right Tools for Growth 

In today’s business landscape, technology is more than a convenience—it’s a strategic asset that can supercharge growth. But as you...

People Management & HR

The Role of HR Analytics in Strategic Decision-Making 

In the era of big data, human resources (HR) analytics has emerged as a powerful tool that can transform how...

Accounting & Finance

Understanding Customer Lifetime Value and Its Impact on Strategy 

In the world of business, not all customers are created equal. Some make one small purchase and disappear, while others...

Accounting & Finance

Tax Strategies for Succession Planning in Family-Owned Businesses 

Succession planning in a family-owned business is a delicate dance that involves not only leadership and emotional considerations, but also...