Entrepreneurs have developed new businesses and innovations, creating jobs for millions of people, and a day is set aside to celebrate them–Entrepreneurs’ Day on November 21, 2017. These are the people who came up with products to make our lives easier and more enjoyable. From life-changing to silly and everything in between, these innovators have improved our lives in many ways. Elon Musk is changing transportation and the world with electric cars for the masses; Colonel Sanders brought us his mouthwatering recipe for Kentucky Fried Chicken; and we can’t leave out Ron Popeil, the salesman extraordinaire, who peddled some of the oddest wares seen on a television screen—the Veg-O-Matic cutting board and the Inside-the-Shell Egg Scrambler, for instance.

This is the day to recognize the founder and owner of the corner pizza shop—or somebody else you may know—who has worked hard to make a job instead of getting one.

Every entrepreneur has a different story about why they decided to start a business. While some have known from the very beginning they wanted to work for themselves, others devised ideas while working for someone else—and took a risk to entrepreneurship. In the process, entrepreneurs have created millions of jobs. Entrepreneurs’ Day is a great time to think about all of the conveniences in life because of the hard work and perseverance of an entrepreneur.

The History of Entrepreneurs’ Day

Entrepreneurs’ Day was started in 2010 by David Hauser and Siamak Taghaddos, the co-founders of Grasshopper phone system, as well as Amir Tehrani, co-founder of The Legacy Foundation. The holiday is on the last day of Global Entrepreneurship week during Entrepreneurship Month, and it is meant to show gratitude and respect to people who achieved success, sometimes against all odds.

How to Celebrate Entrepreneurs’ Day

The following are ideas to celebrate Entrepreneurs’ Day.

  • Entrepreneurs are encouraged to thank their mentors, give funding and advice, and spread the word about how to achieve success in business.
  • Individuals who are not prosperous entrepreneurs yet may want to read the biography of a successful businessperson for inspiration.
  • Groups of like-minded people—friends, college students or businesspeople–starting out may want to meet and talk about the lives of some of the people who took steps to become successful. The group can also come up with new ideas and share their theories in order to get feedback and constructive criticism.
  • Thank entrepreneurs for their achievements in person or on social media to spread awareness of their accomplishments.

Facts about Entrepreneurs

A study by the Kauffman Foundation titled “The Anatomy of an Entrepreneur,” revealed interesting statistics about entrepreneurs. The study is based on a survey of 549 company founders across all different types of industries.

  • Eighty-two percent used their own savings to start their ventures.
  • The average age of company founders when they started their current companies was 40.
  • Less than one percent came from extremely rich or extremely poor backgrounds.
  • Seventy percent were married when they launched their first business.
  • Sixty percent had at least one child when they launched their first business, and 44 percent had two or more children.
  • A majority had worked as employees at other companies for more than six years before starting their own companies.
  • About 70 percent of young people still dream of owning their own business one day, according to the Kauffman Foundation.

Interesting Facts about Famous Entrepreneurs

Whether you have an idea for a new product or are already a seasoned entrepreneur, some of the most famous entrepreneurs have inspiring stories that can help you to remain persistent and humble in your own business.

  • Colonel Sanders, the founder of the fast-food chain, Kentucky Fried Chicken (KFC), began pursuing his fried chicken dream after reaching the age of 65. He was rejected 1,009 times before his recipe was accepted by a restaurant willing to franchise.
  • Gary Vaynerchuk built the Wine Library and owns VaynerMedia. Before entering into his father’s existing wine business, Vaynerchuk weighed the decision of whether he really wanted to be involved in the family trade. After deciding to commit to the business, he has risen to be one of the most influential and savvy marketers alive.
  • Bill Gates, the Microsoft giant, was arrested for driving without a license and ignoring a red light in 1977. He has abided by the law ever since.
  • Josh Tetrick, the founder of Hampton Creek Foods, studied law at the University of Michigan when he invented his start-up. The company is shaking up the traditional egg industry by building sustainable, vegan alternatives. His business has seen investments from some of the world’s wealthiest and most prominent tech figures, such as Bill Gates.
  • Steve Jobs—before Apple–worked with Steve Wozniak on a game called Breakout for Atari. Atari paid Jobs $5,000 to develop the game, but he told Wozniak the company only gave him $700. While Wozniak only pocketed $350, Jobs took the rest to, perhaps, use as he saw fit on the project.
  • Larry Ellison was a college dropout like Bill Gates and Steve Jobs. He was involved in advancing technology since 1977. His company, Oracle, was the first to bring a tablet product to market. The Network Computer, a small device that is capable of basic computing tasks like email and internet browsing, failed to impact consumers due to the lower cost and higher convenience of personal computers.
  • Robert Kiyosaki is known as one of the foremost personal finance authors in the world with his books selling millions. Before he met with lasting success, Kiyosaki, in the early 1980s, noted that heavy metal bands were the new trend. He started a business that licensed t-shirts to these bands. As the decade progressed and heavy metal started to fade, the business fell out and profits dropped.
  • Tony Robbins is one of the most acclaimed self-development magnates of all time. But, he failed again and again until he reached success. As an aside, Robbins listens to a variety of styles of music, and some of his favorite artists include P.Diddy and Tupac.
  • Rowland Macy is the founder of the successful department store, Macy’s. He failed at seven business ventures before hitting the jackpot with Macy’s.
  • Warren Buffet had his challenges and setbacks on the path to becoming an influential investor. He still lives in the same house he bought over half a century ago, and it is not gated. He drives without security staff and does not use a cell phone.