Entrepreneur Blake Mycoskie shares his journey of starting TOMS, a shoe business with a philanthropic mission. He discusses the challenges of communicating with shoemakers and fulfilling orders, as well as the pivotal moments that led to increased attention and growth for the company. He also explores TOMS as a movement and addresses customer engagement and criticisms.
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Quick takeaways
Starting Toms Shoes after being inspired by a shoe drive in Argentina, Blake Mycoskie created a business model that incorporated giving and philanthropy.
Toms Shoes faced criticism for its aid-focused model, but they responded by committing to manufacturing a significant portion of their giving shoes in the countries where they donate, inspiring other businesses to adopt similar giving models.
Blake Mikoski credits his previous entrepreneurial ventures for giving him the necessary skills and experience to start Toms Shoes, and he sees Toms as a movement that has inspired customers to embrace conscious consumption.
Deep dives
Blake Mikoski starts Toms Shoes with a philanthropic mission
Blake Mikoski, the founder of Toms Shoes, had a series of entrepreneurial ventures before launching Toms. He started with a laundry business in college, then went on to start an outdoor advertising company, a reality TV channel, and a driver's ed school. While in Argentina learning to play polo, he was inspired by a shoe drive that collected shoes for children in need. This experience prompted him to start Toms Shoes, a company that would give a pair of shoes to a child in need for every pair sold. When he returned to the US and started selling the shoes, the business took off after being featured in Vogue and an AT&T commercial. Despite criticism, Toms has donated over 70 million shoes in 70 countries, leading the way for other businesses to incorporate giving into their models.
Toms Shoes experiences rapid growth and expands philanthropic efforts
After the success of an AT&T commercial featuring Toms Shoes, the company's revenue grew rapidly, reaching $450 million in annual sales within seven years. Toms faced criticism that their model focused on aid rather than job creation. As a response, Toms committed to manufacturing over 40% of their giving shoes in the countries where they donate. Despite challenges in maintaining quality and production, Toms became a major player in the shoe industry and inspired many other companies to adopt similar giving models. Blake Mikoski sees Toms as a movement rather than just a business, with customers becoming more conscious consumers and embracing the idea of making a positive impact through their purchases.
Blake Mikoski reflects on his entrepreneurial journey and the legacy of Toms Shoes
Blake Mikoski credits his previous entrepreneurial ventures, including a laundry business and an advertising company, for giving him the skills and experience necessary to start Toms Shoes. He took a hiatus from the company due to disillusionment with its corporate direction, but ultimately returned with renewed passion and a desire to make a bigger impact. Mikoski and his wife made a commitment to invest half of their wealth in social entrepreneurs. He sees Toms' model as having created a lasting legacy, inspiring other businesses to incorporate giving into their business models. Mikoski considers Toms to be more of a movement than a business transaction, with customers embracing the idea of conscious consumption.
Gamers Gift: Using virtual reality for a good cause
Dylan Hill and Chris Spettancourt founded Gamers Gift, a non-profit organization that brings virtual reality (VR) technology to children's hospitals, assisted living facilities, and people with disabilities. The idea originated from Dylan's experience visiting his friend Chris, who was battling cancer in a hospital. Dylan noticed the positive impact of video games on Chris and decided to use VR technology to bring joy to children and adults in similar situations. Gamers Gift started by raising money to purchase VR headsets and video games and has since expanded to visiting hospitals and sharing VR experiences. Their mission is to use gaming and technology to improve the lives of individuals facing physical and mental challenges.
Gamers Gift's inspiring journey to make a difference through gaming
Dylan Hill and Chris Spettancourt co-founded Gamers Gift to bring joy to individuals facing physical and mental challenges through gaming. Inspired by Dylan's childhood friend Chris, who battled cancer and found solace in video games, the non-profit organization raises funds to purchase VR headsets and video games. They visit hospitals, assisted living facilities, and other institutions to provide VR experiences to children and adults. Chris's battle with cancer led to Gamers Gift attempting to break a world record for bone marrow donations. Obtaining over 3,700 registered donors, they successfully found a match for Chris. Today, they continue to make a positive impact through gaming and virtual reality experiences.
Blake Mycoskie started and sold four businesses before age 30. But only in Argentina did he discover the idea he'd want to pursue long term. After seeing a shoe drive for children, he came up with TOMS — part shoe business, part philanthropy. PLUS for our postscript "How You Built That," we check back in with Dillon Hill, who built Gamers Gift to help bedbound and disabled patients enjoy a wide range of places and experiences through virtual reality.
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