Entrepreneurial Success – How to Succeed Like an Executive & Take on World Problems

When considering the term ‘entrepreneur’, most of us associate this with success. Entrepreneurship is the process involved in setting up a startup company or going off on a new “business venture”. Often, there are many risks and rewards included in this, and it’s the entrepreneur’s job to balance these and overcome the risks. The truly skilled entrepreneurs will do this and end up with a rewarding and successful business.

The world problems of today have gradually become business venture opportunities for modern-day entrepreneurs. Many open-minded, creative and kind businessmen/women (or ordinary people) out there have come up with countless innovative ideas that will not only benefit them, but that will greatly benefit the suffering, poor and hungry.

Arunachalam Muruganantham of Tamil Nadu, India, came up with his unique idea at the age of 29. He noticed that his wife and the other women in his poor, rural village had to settle for rags or even leaves during menstruation, due to the extortionate cost of sanitary hygiene products in India at the time. Muruganatham, also known as “Menstrual Man”, created a cheap machine to address these issues. He wanted to solve the problem and provide women with the right products, but also wished to keep the cost extremely low and affordable. The towels from global companies in India cost around $1.50 for an 8-pack, whereas Muruganatham’s cost just $0.25 for the same amount. Not only this, but he gave women’s groups in his area business opportunities by allowing them to sell them at whatever retail price they chose. Up to now, more than 1,000 of his machines have been sold in India, and there has been global interest in replicating the model. “Menstrual Man” not only provided the solution, but gave other poor people the opportunity to earn.

Aracelis Upia Montero of Villa Altagracia in the Dominican Republic is much better off than she used to be, where money is concerned. Three years ago, Montero got a job at the Alta Gracia Garment Factory, which specialises in producing T-shirts and sweatshirts for American Universities. This is far from many people’s beliefs, but the facility is actually a long way away from the picture of poverty and despair that’s associated with this type of industry. Here, workers typically earn around $3 an hour and $500 a month, way above the average. The wage at similar factories in the region is less than $1 an hour, and in Bangladesh, the monthly wage for work in a garment factory is between just $40 and $60. The company’s CEO, Joe Bozich, says he developed the company for personal and business reasons, and re-thought his priorities after meeting college students campaigning to improve the labor conditions. Montero says, “I’m now eligible for loans and credit cards at the bank because of my good salary.” Overall, Bozich has done an impeccable job in showing the world that the poor conditions of working at garment factories absolutely aren’t necessary.

About the Author

Blair Thomas is an electronic payment expert, who loves all things finance and planning.  He is also the co-founder of eMerchantBroker.com, the #1 bad credit merchant account company in the country. But when he’s not running his business he’s more than likely exploring his other passions; music, traveling and the outdoors.  If you would like to learn more about Blair and his company click here.