Most businesses fail in the first five years after they go live. That makes you wonder what is the secret behind the biggest multi-million-dollar companies. How did they make it while everyone else stagnated? When you look back at the humble beginnings, companies like Amazon, Microsoft, and Apple all started in a garage.
The only thing they have in common is a relentless will, perseverance, as well as complete obsession with their brand. Sure, nothing in the world will exist without hard work, but there are many people who are working incredibly hard in the wrong places, doing things that they don’t want to do. Click here to read more.
In the year 1995, a guy named Gary Kremen was preparing for his first interview on TV to present the idea of Match. The director of communications told him not to say anything controversial. If you think about it, online dating was a novel concept 25 years ago. People were suspicious of scams, and they thought it was an illegitimate thing.
Gary also got another piece of advice that he didn’t ask for. They told him not to wear anything black or white, and to avoid any kind of shirt that has a busy pattern. People who work in the television niche always want to keep everything business-like. When the time for the interview came, Kremen showed up wearing a shirt with a pattern, and he insisted on sitting in a beanbag chair.
During the entire time, he was cheerful and loose. You could say he was a little eccentric too. When you think about it, all great entrepreneurs can’t be classified in the same category as everyone else. Their brain works in a different way, and they persist on a single idea until they turn it into reality.
At the end of the interview, Gary said that the thing he’s creating would bring more love to the world than anything else in existence. It will be a love revolution the world hasn’t seen since Jesus Christ. Those are powerful words to say, and a claim that’s almost impossible to realize.
Yet, when we fast forward 25 years into the future, we can see that it happened. Match, as a company, makes more than five billion dollars per year. They have around two thousand employees, and the company is constantly growing. View this link for more info https://breakupshop.com/eharmony-vs-match-com
How does something like this happen?
Kremen graduated at Stanford in 1989. When asked about his personality, his former colleagues said that he was a person with great vision. A brilliant man with one eye always looking toward the future. As well as that, he was very tenacious at that time, utterly sure of himself.
He was someone from a handful of entrepreneurs who stood out. He was uncommon between uncommon people. When people used to call him on the phone, none of the conversations lasted for more than seven minutes. That was his phone call limit.
At the time when he was studying, he also attended an internship at Goldman Sachs. Being the person that he is, Gary disrupted a lot of things. It came up to the point that a partner in the company came to him, offered to pay the rest of his internship immediately, so that Kremen would leave and go back to his home town.
He was a guy who stood out, but he also had trouble finding a woman in his life. That got him started on the idea for Match. Back in the nineties, there were 900 phone numbers that you called for dating services. It cost around three dollars per minute to talk on these numbers.
One day, a brilliant idea came up to him. The phone lines were inefficient. If he could find a way to transfer their purpose on the Internet, that would be a gold mine. He took out a 2500-dollar loan from the bank, and he bought the domain Match.com. As well as that, he also bought a few others. Those were housing.com, jobs.com, sex.com, and autos.com.
One of these sites sold for 13 million dollars a few years ago, but that was not related to Kremen. It was April 1995 when Match went online. Ever since then, it hasn’t gone down. People started to come to the site almost immediately. The number of people who visited the site increased each day by 3 to 4 percent. His way of marketing was genius.
He made sure that women joined. As long as there were women on the site, men will always follow. Quite fast, the numbers shifted, and there were many more men than women. The same thing is true today. Gary spent all of his waking hours working on the site. Click here to read more.
But, in the boardroom, the rest of the team members didn’t agree with his work style. Gary mainly hired young people aged 23 to 28 to work with him. Now, that’s the demographic that everyone wants. But, the people around him thought they had no experience. There were a few more arguments that followed, which left to one of the VCs to remove Gary from his position as CEO.
Two years after the company was launched, Kremen left with only 50 000 dollars. When asked about it, he thinks the whole thing could have been much smoother. He was young and inexperienced when it came to managing people. However, the experience he got made him ready for his other adventures and businesses.