He dropped out at 11, ran away at 16, then built a $4 billion empire
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Nordstrom's founder had no retail experience at all when he opened his store.
He worked for years in backbreaking minimum wage jobs and then became a potato farmer, saving up until he had the chance to open a small shoe store.
When he was only 11-years-old, he was forced to drop out of school. Then, when he turned 16, he packed his bags and left his home and family to move to America - arriving with only $5 in his pocket.
This is the story of how Nordstrom became a top luxury retailer in the United States, carrying designer brands like Gucci, Burberry, Prada, Off-White, and more.
Sources: pastebin.com/WyZLiBmU
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hi
Can you pleace do a video about airbnb
Nice 👍
Devil worship - to cause riches?
@@BobsShow uhh hhxhzz
This is just one of the best "rags-to-riches" story that involves a family running their business with pride
And jealous people will yell tax the rich who are already taxed by the way 😂
@@Bambotb fax
sucks you can't really replicate this the same way again.
"if you don't build your dream someone else will hire you to help build theirs" - Tony Gaskins
Incase anyone else was wondering, here's a translation in 2022 dollars. He only had $3,100 in his pocket when he left for America, pocket change he had saved up as a child. After traveling from his home town to Liverpool where he purchased a ticket to America. He departed the ship to begin his new life ten days later, with only $156 to his name. For the next five years, John Nordstrom worked back breaking labor jobs such as coal and silver mining, logging, loading railroad ties, and carrying bricks. He was paid the small sum of $1.25 for a day's work, or $40 in today's money. After five years, John had saved up enough money to purchase fifty (not twenty) acres of land in Arlington, Washington to start a potato farm. 50 acres of farm land in Arlington is worth roughly $4,500,000 today. And he was able to save enough money, in only five years, earning $12k a year in today's money, to purchase that land. I love a good rags to riches story as much as the next guy, but thing are NOT the same as they were 140 years ago. This is less of a tale of rags to riches as it is an example of the early bird gets the worm. It's not repeatable. Nobody earning 12k a year today could purchase 4.5M worth of farm land on a whim like John Nordstrom did. I'm a full on capitalist, I love America, don't get me wrong. I believe opportunity still exists. But stories like this, from way back when, are so out of touch from today's economy.
Most people venture into crypt0 to be millionaires, meanwhile i just want to be debt free
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Anna s Wilson
It’s not about expanding but meeting ur customers expectations and treating ur workers as part of the family. Such a simple rule that it’s sadly overlooked especially when it comes to workers.
Very true! I’ve worked with family businesses over the last 30 years and all I see is the greed to make more money, nothing else!
@@sayyer10 So true...
His mother's guidance in the early years of farming were the strength he needed.
As an ex Nordstrom corporate employee I gotta say he’s the first and the last decent leader they had. What a garbage dump .
Who's he?
Yes , he WHO ?
For those wondering, that $13,000 in 1900 is about half a million in todays terms.
Adjusted inflation
+@Patrick King Is there a reliable Website for such data (i.e. the inflation-adjusted value of money)? I am unable to find any Website that goes as far back as 1900 C.E. Thanks in advance.
It is amazing that many of these companies are 100 years old, and growing. Whatever happened to Nordstrom's partner after he sold his portion? The majority of all of these stories are about people that never gave up on their dreams, and we're still talking about it in 2022. Family is so important. Love this story!
Your content is just out of this world.You cover legends that make history and give hope to us in difficult time through the story of them.
that is exactly how I feel! gives us inspiration
The Nordstrom family are truly wonderful people. I still can't believe Blake is gone; gone but not forgotten. RIP Blake.
I truly thank all of the people working at the back to deliver such quality content,Love you Hook
aye been here since the beginning, love to see the channel growing keep up the good work,
I love these stories !!!
Anyone thinking that they’re stuck in a job and missing their window of opportunity to live their dreams out: look at this guy! Did manual labor for years before getting to his business. As long as you’re working toward something you’re never stuck!
I think Hook needs to do sow explanations about how the economic landscape has massively changed, how rare it is for THIS kind of story to work out.
@@zathtanks I don’t think it’s rare at all. That is- when you look at any successful first generation millionaire. Many of them started with little to nothing and were able to create wealth with hard work and persistence. This path is still very much alive and well. I think what keeps most people off this path is the fear of failure and taking risks. This guy took so many risks that let to his shoe store (which was a risk in itself!)
@@michaeljensen1123 I think you missed the part where he used his minimum wage savings to buy 20 acres of land. That's not happening in 2022.
Not only just using his wage to buy the land, but the fact that he was able to just immigrate and bounce around anytime there was a new opportunity. There’s so many variables in this story that just aren’t possible now.
@@really...8359 How is moving around not possible now?
Watching these contents broke my mental ice and I started honing my business skills and trade skills to restart business. This time , I will build up to major status.
You can do it
I've been *Hooked* on this channel for 2 years now and i always just enjoy every single video you guys make
Oh I see what you did very clever 😏
i just discovered this channel today. i LOVE it!
At first I was impressed thinking a potato farmer started NordVPN. They should have sponsored this video.
🤣🤣🤣
Hilarious 🤣🤣
Respect to you Hook for bringing such a channel! Amazing graphics and illustration work to make us hook (no pun intended) to the amazing clarity, engaging and riveting story!!!!
Top class as always. One of my fav channels.
Amazing content. SO INSPIRING! Thank you
Thanks Hook for the research and sharing inspiring stories. One lesson learned is TEAM WORK AMIDST CHALLENGES. PERSEVERANCE + SUCCESS
Thank you hook for your videos.. so informative.
Thank you for sharing important life lessons.
Great story. Thank You for sharing.
Wow - what a fantastic and inspirational history of this brand!!! Well done!!!
I was in Canada on 1990s looking for a job and trying to settle down there. Had I known Nordstrom was expanding there I would have applied for a job as a salesman in one of their stores. And achieve my very own rags-to-riches story!
I wish I could buy 20 acres of land from money saved up from a $1.50 wage
Exactly!
Hmmm 🤔 still possible I know that for a fact, Live within or below your means and in a few years your set. $13,000 in 1900 is worth $444,946.67 today
Loved his story!
what a story! so inspiring
Thank you for uploading incredible history I had being in their stores, they are beautiful and great merchandize as well
What an amazing Man , Please family dont let the business vampires take you over, ever.
Thanks for your videos! You all do great work!!!
I love your videos! just a suggestion you should also cover europe and asia there are plenty of inspiring stories present here.
Actually, in China you will find more inspiring stories as many had nothing after the cultural revolution (I know there is corruption and many other complications but there is still stories to be inspired with).
There are also stories in Africa.
"dropped out at 11, ran away at 16, then built a $4 billion empire" - he is the exception, not the norm.
That sounds like fun👍
We get inspired by these great stories
This is a good and historical video everyone should watched this video 📹.
Is that Brew doing the Morning Brew Ad That caught me off guard thought I had auto play on for a sec
Love your videos
"Getting rich is a result of working in a certain way" science of getting rich
Great great content !!! Earned my subscription!
Amazing, inspiring 💖
Amazing story
When it comes to investing, diversification is the key, that's why I engage in sectors based on projected growth. There's no shortcut to getting rich but there are smart ways to go about it
Wow! You are right. Telling someone about forex market and those assets to invest in isn't financial advice but it's life advice
Great story, I worked for Nordstrom, Sears, and JCPenny. All are great people and families. This day America changes to killing war business and greed. Those day America has only a few corporations, not much involve with politicians. Retail store better than Online or Banking. Customers are the most important and many are great people. They enjoy shopping in the stores, not online. Those were good old Americans, Thanks.
Great data, 👏🏾👏🏾👏🏾👏🏾👏🏾🙏🏾🙏🏾🙏🏾👑💎💙💯👍a great Family
I don't know what a Nordstrom is not how this video appeared in my feed 8 minutes after it was released but I'm about to find out.
Of all the stories, this is my favorite. In my opinion, John's greatest success was the family he and his wife founded. They must have been incredibly proud! They succeeded where Gucci failed.
very inspiring story
Wow...great story
The way the world is today story’s like this gives us all hope
This shows that not all family concerns go bad when the later generations start to run them.
What an entrepreneurial inspiring story !
Very inspiring
Love you hook
Three brothers rotating power.. sounds nice
Al Bundy will always be my shoe man of the century
amazing story
Very interesting... thanks..
I never thought Alaska and expansion was going to be said in a sentence
11:05. Narration: "They offered many practical shoes rather than fashion styles." Opportunity: Show some neat practical shoes from those days. Pictured instead: Fashion styles like impractical HIGH HEELS.
Who believes this man was one of the first visionaries and started a revolution Potato’s what good idea wink wink then found gold in Yukon what great idea to go to Seattle then to Alaska Yukon good place to gold mining’s two houses in Seattle the rail road was great way to travel back then the men who started Businesses back then laid the foundation for us not many people understand this time thing but yeah great Entrepreneurs then give us all a start to learn how to grow in the business life good vibes love it props man thank you for the video
Look at scans of old Sears & Roebuck catalogs and you’ll see that $12.50 had a lot of purchasing power in 1901; that is an expensive pair of shoes. Another illuminating judge of late 19th and early 20th Century purchasing power is to search the melt value of the Gold Eagle and the Morgan Dollar.
Everyone in these stories always begins with 1, 5, 10, 20 dollars,but loh a behold they usually have more.
Today you need probly 1, 5, 10, 20 milion dollars just to start 😆🤣
In the 1800s one dollar was roughly more like 25 bucks and you could buy things with pennies.
Wow this really motivates me to move out my province
me too, I am in Ontario. i am OUTTA here!!
@@chelseagirl278 idk bro that thing sounds like a lot of opportunities
@@cream422 Out East is where to go!
@@chelseagirl278 bet you can dude! keep it up and go back to this comment when youre there!! :D
It would be best if you could include the years of history phases.
5 dollars in his pocket.. he rented an upscale apartment on the lower east side of manhattan.. he purchased a small factory for just 5 cents.. he paid his workers 1 penny a year.. things were easier back then and 5 dollars was like 5 billion now..
Light on the details
Should make a movie on this
Keep going
It's pronounced NORDSTRÖM In English it would be NORTHSTREAM The ST is pronounced as SHT and it contains an Ö in it. Trust me guys I do speak fluent German and Swedish is related from the germanic language 😊
Now I know how he got so rich, he had magical powers where he could transform five dollar bills into 100 dollar bills. lol.
*EDIT ALERT* 22:16 "the Forbes 500." It's the FORTUNE 500. As in, the same Fortune 500 you cite later in the video.
Aye shoutout to the rack
can you do Converse ALL STAR?
"Guy found $875k worth of gold and started a retail empire" doesn't quite have the same ring as "from $5 to $4 billion"
Yeah but look what he had to go through to get it…
If I gave you $875k you’d buy a car not start a business
we hear such success stories over and over again, but one must always remember all those who take such routes in life but are not nearly as successful. But, one must say on average, a person that at best graduates high school and avoids college are those who often creates businesses of their own, which college students often are only employees of established businesses. of which sights that schools do more of a hinderance to ones goals as an independent, by way of pigeon holding people into the staffing work force due to the need to pay off student loans. Those who have no such loans and no delays in their quest for their dreams often are more successful than those that go to school.
This was a interesting story
Eton shirts they sell is a Swedish brand. It's the best quality mens dress shirts out there!!
What doesn’t kill you makes you stronger.
As a man with size 16 feet, I thank you
Very smart family.
There is a nexus between Customer Focus and Internet Marketing. Nordstrom's is a model worth close examination. Best wishes to a Pacific Northwest INSTITUTION.
So what now did he had JUST $5 dollar or JUST little bit over $100 dollar ??
Learn how to listen and to read. The video said that he left Sweden with $100, but by the time he arrived to his intended USA city, he had only $5 left.
@@davidk7441 His reading is as bad as his grammar 😂😂
determination runs in the blood
Shows Potato Farmer walking thru a Wheat field....
Motivational
Oooooh yes the potatoes
Many great Merchants came out of Sweden
Music at 20:00 minutes?
that cant happen this days. 11 drop school : parents jailed and kid to foster house 16 years old working parents jailed and kid to foster home XD
Thanks for the video but he never went to his family
Arrived with 5 dollars or 100? Again repeated at end 5 dollars which was it and this dampens the story.
Wait what? 10day journey from Liverpool to NY city?
he went from having $5 to a enough of a savings to buy 20 acres?
Love it
Whatever happened to John Nordstrom's family that he left in Sweden?
So this is how they advertise 😁