736 Blake Mycoskie: TOMS Shoes Founder on Changing Business and the World

Dec 24, 2018

Blake Mycoskie, the visionary founder of TOMS Shoes, known for his innovative One for One® model, shares insights on blending commerce with social good. He emphasizes the necessity of purpose in entrepreneurship, asserting that a strong 'why' fuels passion. Blake discusses the shift towards socially conscious brands and how storytelling can deepen connections with consumers. He also tackles the role of businesses in advocating for societal change, including initiatives for gun legislation and community development, illustrating how giving can drive meaningful impact.

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ANECDOTE

Origin of One for One Model

Blake Mycoskie was inspired during a trip to Argentina when he saw kids without shoes who couldn't attend school.
He started giving shoes and conceived the One for One model to give a pair for every pair sold.

INSIGHT

Social Media Powers Growth

The One for One model's success is tied closely to the rise of social media platforms.
Storytelling through social media empowered customers to share and become marketers for TOMS.

ADVICE

Have Clear Social Purpose

Entrepreneurs must have a transparent social purpose to connect with Gen Z and millennials.
A purpose beyond making money attracts and retains customers, especially in competitive markets.

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THE MORE YOU GIVE, THE MORE YOU LIVE.
You need to have a why.
Why are you hustling every day? Why are you pushing yourself? Why are you sacrificing?
If you have a purpose, you’ll have the passion you need to follow through.
There is nothing more powerful.
And it’s become a necessity- in today’s world, it’s difficult to be a successful entrepreneur unless you are connected to a greater good and you communicate that with others.
Storytelling can be your greatest tool.
On today’s episode of The School of Greatness, I talk about creating business with purpose with the creator of the One for One® model: Blake Mycoskie.
Blake Mycoskie is the Founder and Chief Shoe Giver of TOMS, which has provided over 86 million pairs of shoes to children since 2006. TOMS Eyewear has restored sight to over 600,000 people since 2011 and TOMS Roasting Company has helped provide over 600,000 weeks of safe water since launching in 2014. In 2015, TOMS Bag Collection was founded with the mission to help provide training for skilled birth attendants and distribute birth kits containing items that help a woman safely deliver her baby. As of 2016, TOMS has supported safe birth services for over 25,000 mothers.
Before TOMS, Blake, a native of Texas who always had an entrepreneurial spirit, started five businesses. His first was a successful campus laundry service, which he later sold. Between business ventures, Blake competed in the CBS primetime series, The Amazing Race. With his sister, Paige, Blake traveled the world and came within minutes of winning the $1 million dollar grand prize. Blake is an avid reader and traveler. He is passionate about inspiring young people to help make tomorrow better, encouraging them to include giving in everything they do. His hope is to see a future full of social-minded businesses and consumers.
Blake is passionate about using commerce to make money while creating social good.
He says that people want to help others, they just need to be given the opportunity. He says that it’s important to connect in a way that lets the customer be the hero.
So get ready to learn why it’s powerful to connect people’s wants and needs on Episode 736.
Some Questions I Ask:
What was your original inspiration for doing a buy one give one model? (2:00)
Do you think a business can thrive with one story? (9:30)
How do you stay inspired? (11:00)
If you were going to create a new business in a new space, what would it be? (19:00)
What is the biggest challenge you face? (26:00)
In This Episode You Will Learn:
How storytelling can help your business (5:00)
Why modern business has to have a purpose (15:00)
How you can use critique to your benefit (21:30)
Using the concept of “essentialism” to plan your time (28:00)
Why Blake is passionate about gun reform (35:00)
The one thing entrepreneurs need to stay passionate (49:00)

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