It's #TitanTuesday! What if you could turn a frustration or disappointment into your passion project and a super successful business? Well it worked for Doris and Donald Fisher. When they couldn't find jeans that fit Donald properly, they brainstormed a brilliant solution and it's what we all now know as The Gap. Launched with just one store in 1969 in San Francisco, today it's a billion-dollar global chain with more than 3,000 retail stores. At the time, Donald was 41 and Doris was 38. Older entrepreneurs can learn several lessons from the Fishers' business success — including that age is no barrier to trying something new. But four other lessons stand out:
1. NEVER LET A PROBLEM DEFEAT YOU. There's always a solution, even if it's not readily apparent.
2. BEING OF SERVICE TO OTHERS can give you a new sense of purpose AND be very profitable. Doris and Donald didn't just solve Donald's problem, they helped millions facing the same dilemma.
3. ANY PROBLEM CAN BE INSPIRATION for a successful business and financial independence. Even if you think it's too small or that you're the only one with the problem. You never know. Your inspired solution could even revolutionize an entire industry, like The Gap did to retail.
4. INCLUSION, DIVERSITY AND EQUALITY aren't just common sense, they're good business sense. The problem Doris and Donald experienced inspired them to sell a wide range of clothing that would accommodate almost any body shape or size. Inclusion, diversity and equality are also cornerstones of their staffing and the company is a big champion of equal pay.
Donald died in 2009 at 81. Doris sat on The Gap's board until 2009. She's been named one of Forbes' 100 Most Powerful Women and her net worth is more than $2 billion.
PHOTO CREDIT: The Gap Inc.
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