SKETCH OF A ENTREPRENEUR LIFEPRESENTED BY, IFTEKAR ALOM
BAM10017
4/18/12
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WILLIAM COLGATE4/18/12
4/18/12
INTRODUCTION
William Colgate (17831857) was an English-born American
manufacturer who founded what became the Colgate toothpaste company
in 1806. He was born in Hollingbourne, Kent, England, Colgate was
the second son of Robert Colgate and his wife Sarah. In 1806, when
the company was founded by 23-year-old William Colgate, it
concentrated exclusively 4/18/12
INTRODUCTION
Introduction of worlds first toothpaste came into existence
after William Colgate expired. In 1908 the company produced Colgate
Ribbon Dental Cream, the worlds first toothpaste in a tube. In 1928
the company merged with a major competitor, Palmolive- Peet
Company, and eventually became 4/18/12 known as Colgate
Palmolive
BUSINESS DIVERSIFICATION
Colgate company was originally founded in 1806 by a soap and
candle maker. They started by candles, and starch. selling
soap,
Colgate didnt start selling toothpaste until 1873 and they sold
it by the jar. And now Colgate is the leading brand in
toothpaste.4/18/12
STRUGGLE FOR WILLIAM COLGATE
In 19th century due to the irritation made on the skin and the
nose by the soap because of its ingredients made the soap business
of William Colgate to fallback. For this reason people were
inclined to purchase the French import soaps which were soft,
scented, and highly effective. He quickly realized that profits
would 4/18/12 much higher in a crowded city be
COURSE OF ACTION
Colgate offered free home delivery on purchase as small as one
bar. For his first year in business in New York he ran himself
ragged by doing all of the companys buying, manufacturing, selling,
delivery, and bookkeeping, so in 1807 he took on a partner, Francis
Smith. War had broken out between France and Great Britain, which
kept American ships from trading with either side, thus virtually
eliminating the importation of French soap.
By 1813 , Colgate had made so much money selling soap to New
Yorkers that he was able to 4/18/12 Smiths share of the company. By
the time buy
COURSE OF ACTION
After few years Colgate learned to use starch as inexpensive
filler without unduly affecting the quality of his soap, and opened
his own starch factory. In 1829 he learned how to produce a scented
soap by mixing the oil and lime with just the right amount of
perfume, because of which it failed in the beginning. 4/18/12
SUGGESTIONWilliam Colgate could have learned to manufacture a
soaps with soft, scented and highly effective features at the
beginning when his business fallback.
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CONCLUSIONIn brief we can say that William Colgate was a
successful entrepreneur and good leader by not only considering his
good entrepreneur skills but also his wisdom, hard work and
confidence towards his work. He took steps to improve it and
moreover thought of providing a hygienic product and thus worked
for the betterment of the society.4/18/12
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