Realizing a good idea can make you a millionaire. She may come to mind on vacation or while doing household chores, as well as at work. This happened to these regular Missouri guys.
Business ideas
A couple of entrepreneurs have found a reliable way to profit from new technologies and their ever-changing nature. After all, someone who invests in new products wants to have reliable information about their future benefits.
Future billionaires, engaged in sales, noticed the need for services such as testing, consulting and installing new products.
The company they created serves not only corporate America, but also federal, state and local governments that trust only consultations from Cavanaugh and Steward to equip courthouses, military bases, prisons and schools.
These orders brought last year revenue of $ 11.2 billion and an estimated profit of $ 700 million.
Missouri guys were happy in their youth, getting a sports scholarship
Cavanaugh and Steward were born in Missouri and went to college there. They came in different ways to the technology business.
The steward grew up on his family's small farm in the countryside. There was no plumbing in the house, and every day in front of the school he milked cows and cleaned the pigsty. Diligence and responsibility are important properties of character for the future businessman.
His father worked almost around the clock as a mechanic, a garbage man, a janitor to make ends meet.
The steward and his seven older brothers and sisters were one of the first black children to start attending schools and swimming pools, cinemas and restaurants common with the whites. Christian faith has helped the guy survive difficult times.
Remembering his childhood, he said that the church and music at that time helped him develop and enjoy life.
When Steward left to study at Missouri Central University in 1969, he continued to follow the example of his hardworking father. Having a small stature, he came to watch basketball training every day. A year later, the coach took him to the team and gave him a sports scholarship.
Slow growth of achievements
After graduating in 1973, Steward worked as a deputy teacher in the Boy Scout camps in America. Nevertheless, he earned little money and constantly applied for work. After sending out about 400 resumes, Steward worked in the sales and marketing department at Union Pacific, and then at FedEx, where he was inducted into the sales department's Hall of Fame.
In 1983, Steward acquired a company called Transport Business Professionals, which checked shipping invoices for companies such as Ford, Pfizer, and Campbell's Soup, and identified excessive costs. In 1987, he founded the subsidiary Transport Administrative Services, which helped shipping companies evaluate discounts offered to customers.
His first major client was former Union Pacific employer. He asked him to check accounts for $ 15 billion over three years. To do this, the Steward had to build a local network from scratch, in fact, connecting dozens of computers so that they could communicate with each other. Solving this problem, he realized how it is possible to manage business with the help of technology.
Cavanaugh Business Partner
Cavanaugh grew up in St. Louis, where his father worked as a bricklayer, and his mother sat at home with three children. In 1981, he left home to play football for the University of St. Louis, for which he received a scholarship that allowed him to continue his studies.He earned a place on the 1984 Olympic team and traveled all over the country with her without money, but soon decided to engage in sports.
Wide World Technologies
He responded to a newspaper ad from Future Electronics, an electronics distributor, and was hired to sell chips and other components of the circuit board. A year later, in 1989, he and his boss began to discuss the creation of their own electronics distribution center.
Cavanaugh knew Steward and persuaded him to join the team. The steward not only agreed to take part in the project, but also contributed money to start. In 1990, World Wide Technology was born, a modest company selling computers and telephone equipment.
Cavanaugh, who was then 28 years old, had no capital. Only in 1995, after he proved his worth, he received his first 15% share. He says the path was difficult, so he cannot recommend it to others, but in the end it worked out.
Development of the company
The first few years were difficult. While Cavanaugh and Steward brought several former customers with them, they still lagged $ 1 million in their credit line payments. Heating bills and trash remain unpaid. In 1993, the bailiffs took the Steward's car from the official parking lot.
During this difficult time, World Wide Technology won a state tender and began to receive orders from large budget federal clients, such as the ministries of defense, transport and agriculture. It was a time when everyone began to install computers, printers, and other telecommunications equipment. The fortune grew from $ 8 million in 1992 to $ 135 million in 1997, to $ 924 million in 2001.
As a result of the brainstorming, World Wide Technology appeared, which advises companies on cloud technologies, analytics, artificial intelligence or cybersecurity.
Another important part of Kavanaugh's services: creating software such as applications and websites for companies.
The most important priority for Kavanaugh is to expand the list of additional services.
Over the years, Kavanaugh has created a company’s sales catalog for both hardware (servers and network equipment) and software (project management in the cloud or user account authentication). Kavanaugh has also made World Wide Technology famous for its ability to integrate many diverse technologies into a single system.