Blake Mycoskie And TOMS Shoes: Little Money Goes A Long Way - The Big Idea Blog

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Jul.17

10:50 AM ET

Tuesday, 17 Jul 2007

Blake Mycoskie And TOMS Shoes: Little Money Goes A Long Way

Posted By:Donny Deutsch

Topics:Big Idea with Donny Deutsch

Child wearing TOMS
Child wearing TOMS
How much does it cost to start your own million-dollar business? For Blake Mycoskie, the answer is $500. That’s right, only $500 dollars. On last night’s show, all of our guests began their very own businesses for relatively nothing. I’d say that’s one of the best dollar-for-dollar investments out there!

TOMS shoes was born out of a trip to Argentina, where Blake witnessed impoverished children walking the streets without footwear. Inspired by a local type of shoe, Blake brought an Argentinean style back home with the promise that for every shoe sold in America, he’d send one pair of shoes to Argentina.

The charitable cause behind the business is probably a big factor that draws potential customers to purchase TOMS shoes. Blake Mycoskie is a perfect example of how it doesn’t take much money to make a big difference--and some big bucks!

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