Homeless-to-millionaire entrepreneur shares story
Message from Sean Conway, The Millionaire's Plan:
The excerpt below is about an entrepreneur who was divorced, destitute and arguably desperate when she stumbled upon an idea that great into a multi-million dollar venture. What you can learn from this story is that if you have a simple idea, something related to one of your hobbies, something that you love doing THEN quite possibly this could turn into a viable business for you.
So many people who follow their passion in business, end up being successful because working become just like their hobby.
Homeless-to-millionaire entrepreneur shares story
By TOM JOHNSON
email:ThomasJohnson@coloradoan.com
Yates' inspirational story has captivated audiences across the country. In the early 1980s, after a divorce and a financial setback, she and her young daughter were left homeless and impoverished. Through hard work and creativity, she was able to get her life back on track.
While homeless in Portland, Maine, Yates taught herself how to make jewelry. With the help of friends and family, she found a home and started over.
In 1983, with a roof over her head and a young child to support, Yates turned a tiny attic above her apartment into a studio, where she launched a line of hand-made jewelry. Over the next few years, demand for her work grew.
In 1989, in a moment of inspiration, she combined a rectangle with a triangle to create a metal pin in the shape of a house.
'I heard this voice go off inside my head that said, 'wouldn't this make a great fundraiser for the homeless?' ' Yates said. 'I don't know about you, but when I hear voices inside my head, I listen.'
Yates contacted a local homeless shelter and encouraged the organization to use the pins to raise money for the homeless. She sold pins to the shelter for $6 each. The shelter, in turn, sold them for $10 and used the profits to support the organization.
A Realtor soon bought a pin, starting a national phenomenon. Realtors from across the country were soon using Yate's pins to raise money for the homeless.
'The first year, I grossed $89,000,' said Yates. 'The next year, I grossed $300,000, then $1.4 million, then $2.6 million. I had challenges you can't believe. I had no experience. I simply did the same things I did on the streets. When I ran into problems, I figured out a way to solve them................"