While there are some incredible stories about how millionaires and billionaires made their fortunes, only a few people have done it from a garage environment, either their own garage or that of their parents.
If you’re thinking about renting office space for your new venture, why not consider starting in your garage instead? Definitely cheaper, and some millionaires and billionaires did so successfully, including the founders who started tech businesses:
Steve Wozniak – Apple
Although Steve Wozniak isn’t anywhere near as rich as Steve Jobs was before he died in 2011. However, Wozniak is still reported to be worth more than $100 million.
They started their Apple computer building ventures in Steve Wozniak’s garage together and their first order was for 50 computers at $500 apiece; the rest is history.
Apple is now worth $1 Trillion, and was the first company in the world to reach the Tillion valuation.
Larry Page – Google
Larry Page and Sergey Brin are the creators of the Google Search Engine. They started the business in a garage they rented for $1700 a month, later producing one of the world’s biggest businesses. It took them a year, but eventually, the garage space was too small for their eight employees, and they had to rent an office.
Google is now worth 1.359 Trillion, and Larry Page is reportedly worth $90.9 billion, while Sergey Brin has a net worth of $87.1 billion. With wealth like that, everyone should want to become a Silicon Valley programmer.
Jeff Bezos – Amazon
Jeff believed there was money to be made from the online retail industry, so he got to work in the back of his garage by developing his first piece of software to help him on his way. Jeff thought the books industry was untapped online, and he couldn’t have been any more right.
Did you know Jeff sold his first book out of his garage? Now Amazon is the largest online retailer, with a reported value of $1.8 Trillion (accurate at the time of the revision, May 2023).
The above wealthy entrepreneurial people may make you think twice about spending thousands of dollars every month on storage or office space you don’t really need.
If these guys can earn millions of dollars from a garage environment, it should inspire you to want to do the same. You could well be the next person that follows suit.
What We Can Learn
With every success, there are lessons we can learn from these tech giants and other successful organizations.
The success stories of brands such as Google, Amazon, and Apple, which started in their garage, can teach us several important lessons and give us confidence that whatever we start, there is an opportunity to be successful.
These companies started with very little resources and built their way up. Starting small allows you to test your ideas and get feedback before investing too much time and money.
Focus on innovation
These companies succeeded by introducing innovative products and services that disrupted traditional industries. Innovation is essential for differentiation and competitive advantage.
These companies have always focused on providing a great customer experience. Understanding your customer’s needs and providing solutions that meet those needs is essential for building a loyal customer base.
These companies have experienced failures but have learned from them and used those lessons to improve their products and services.
Failure is a natural part of the learning process, and it is important to embrace it and learn from it.
Build a strong team
These companies, and many like them, have succeeded because they have built strong teams with complementary skills.
You won’t reach the pinnacle of success unless you surround yourself with talented and motivated people who can help you achieve your goals faster.
Stay true to your vision
These companies have remained true to their original vision and values as they have grown and evolved. A clear mission and purpose can help you stay focused and make decisions consistent with your values.
In summary, the success stories of these garage-born brands demonstrate the importance of starting small, innovating, focusing on customers, embracing failure, building a strong team, and staying true to your vision. See this article on startup stars that have failed