Cyber Week Sale! 50% Off All Access

5 Entrepreneurs Who Started With Nothing - and 3 Lessons to Learn Sam Walton. George Soros. Kevin Plank. Jan Koum. What can these successful entrepreneurs teach you?

Edited by Dan Bova

Rob Nelson | The LIFE Images Collection | Getty Images
Sam Walton, Walmart's Founder

It's not uncommon to hear about entrepreneurs who used the wealth they made from a previous endeavor to build a thriving new startup, or about seasoned business owners who took over a decades-old franchise and transformed it into something new. These stories are inspiring in their own way; but to me, it's even more inspiring to hear about people who started with nothing.

Related: From Inmate to SMS Marketing Success Story

These are entrepreneurs who started their journey with no capital, no funding and sometimes no education or experience, yet despite the odds were still able to build massive successes.

How did these people accomplish such unlikely feats, and what can we, as entrepreneurs, learn from them?

1. John Paul DeJoria

John Paul DeJoria isn't as much of a household name as Steve Jobs or Elon Musk, but he has accomplished feats of entrepreneurship and business management that rival theirs. Starting out as a newspaper courier, and working as a janitor and tow truck driver to make ends meet, DeJoria eventually started working at a hair care company, where he met Paul Mitchell.

With a loan of just $700, the two of them started a business that turned into the conglomerate now known as John Paul Mitchell Systems. Later, DeJoria co-founded Patron Spirits, and was a founding partner of the House of Blues chain. Today, he's worth more than $3.1 billion.

2. Kevin Plank

Kevin Plank, the CEO of the fitness apparel company Under Armour, was pretty much broke when he started selling signature clothing under the Under Armour brand. He took all the cash he had saved, about $20,000, and racked up an additional $40,000 of credit card debt to fund the company.

Related: Entrepreneur Stories of Struggle and Success: 7 Founders Tell All

Soon after, he made a landmark sale of $17,000 to Georgia Tech University, and in a wave of momentum, made sales to two dozen NFL teams. From there, he went on, in just a few years, to cultivate millions in sales and hire hundreds of employees. Today, Under Armour does nearly $2 billion in retail sales, and has 5,900 employees.

3. Jan Koum

Jan Koum, the founder of WhatsApp, was born in a small village near Kiev in Ukraine. Coming from poverty, Koum's family emigrated to California, and Koum started learning about computers in his spare time. By the time he was 18, he had developed impressive skills, and in 1997, he was hired by Yahoo! as an infrastructure engineer.

He spent a decade in that industry before realizing the huge potential of the app industry in 2009 and starting WhatsApp Inc. By 2014, WhatsApp had become enormously popular. Facebook bought the app for a staggering $19 billion.

4. Sam Walton

It's almost ironic that Walmart is frequently criticized for underpaying its employees and using cutthroat tactics to maximize profits. Sam Walton, Walmart's founder, had almost nothing to his name himself when he started his first general store back in 1945.

He relied on a $25,000 loan from his father-in-law to fund that initial purchase, and was an instant success in the retail industry. The first official Walmart was opened in 1962, in Rogers, Ark.; and by 1976, Walmart was worth more than $176 million. At one point, Walton was considered the wealthiest man in the United States.

5. George Soros

Though you could describe him as an investor more than an entrepreneur, there are few better rags-to-riches stories than that of George Soros. When Soros was a teenager in Hungary in 1947, he fled Nazi persecution to live in England. Despite having little money to fund his efforts, he attended the London School of Economics, working his way through university to obtain his degree. He then moved to the United States in the 1950s, and became an investment manager for a number of major firms, eventually starting his own hedge fund and building his own company.

His most famous move was shorting the British pound in the early 1990s -- which made him $1 billion in a single day.

Key lessons to learn

So what can we learn from these entrepreneurial stories?

Debt is a viable option. Debt is scary to take on, especially when your idea isn't a sure bet, but almost everyone on this list got a loan at some point to establish early momentum. As long as you have a plan to pay it back, debt can be a valuable tool.

Invest in yourself. You need to invest in yourself before you invest in anything else, by focusing on improving your skills, education and experience. Without self-investment, you won't be able to build a business, let alone sustain one.

Look to the future. These savvy entrepreneurs didn't enter a market that already existed; they created new ones, or made bets on how current markets would evolve. Future-focused strategies always win out over present-focused ones.

Related: 6 Stories of Super Successes Who Overcame Failure

Entrepreneurs can come from humble beginnings, so long as they're willing to work hard, commit to their ideas and take the risks necessary to see those ideas become reality. Take inspiration from the massive successes who have come before you, and don't let a lack of money or experience dissuade you from following your dreams.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

'I Just Hustled': She Earned More Than $300,000 Wrapping Gifts Last Year — and It All Started With a Side Hustle

When Michelle Hensley lost her husband to cancer, she needed to figure out how to earn an income for her family.

Science & Technology

You Have 1 Month Left to Prepare for These 5 AI-Powered Marketing Changes — Act Now Before It's Too Late.

Big changes in 2025 will redefine marketing as AI evolves rapidly, offering growth opportunities but also risks. Learn how to stay ahead in this week's video, covering new search platforms and avoiding over-automation.

Growing a Business

This Breakthrough Technology is Poised to Accelerate Your Company's Growth

Discover a breakthrough technology stacked on top of generative AI, now poised to revolutionize businesses across nearly every sector. Unlock unprecedented growth and profitability potential, achieving levels once thought unattainable.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Leadership

How to Master the Art of Delegation — Lessons From Andrew Carnegie's Legacy

Here's what Andrew Carnegie can teach today's entrepreneurs about leadership, teamwork and effective delegation.