Ugg Founder Shares 6 Traits Of The Most Successful Entrepreneurs
Nov 5, 2014, 23:12 IST
Packerx/FlickrNo matter how great your idea is, starting a new business is hard work.
No one knows this better than Brian Smith, founder of Ugg Australia and author of "The Birth Of A Brand," who worked tirelessly for years to make the now ubiquitous sheepskin boot part of American culture.
Though Uggs can be found in every mall in America these days, they didn't start out as a hit. After ordering his first samples in 1979, Smith spent months traveling door to door pitching the boots to surf shops and selling them out of a van at surf competitions.
By the mid '80s, the trend caught on, elevating Smith's idea from a small business to a multimillion-dollar company. He ended up selling the business to footwear company Deckers in 1995 for an estimated $14.6 million, but Ugg is still thriving and can still be found at most major retailers today.
Smith recently shared some of his business insights at the 2014 Small Business Summit and in an interview with Business Insider. Smith says these six key characteristics define successful entrepreneurs.