Effectual Entrepreneurship, Third Edition
Practically Speaking
Up the Wall
An unemployed medical school graduate imports wacky toys which become an overnight fad – not his career plan!
Entrepreneur: Ken Hakuta
Entity: Wacky Wall-Walkers
Country: USA
Page 171 in
Chapter 10 The Bird‑in‑Hand Principle: Start With What You Have (pp. 155-173)
"Dr. Fad started out as Ken Hakuta, a Harvard Medical School graduate who was disgruntled by the fact that his classmates all seemed to have better job offers than he did. As he mulled over his situation, he nonchalantly threw around a slimy, sticky, octopus-shaped rubber toy that his mother had sent from Japan for his children. In 1982, they were the only toys that could climb down walls.
Ken bought 100,000 US dollars' worth of the toys, thinking that if his venture failed, he could go back to Japan. He started selling them to small gift shops and toy stores in Washington, DC, where he lived. "
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Video Resources
References & Links
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- Howard Schultz. (n.d.-a). Schultz Family Foundation. Retrieved April 20, 2025, from https://schultzfamilyfoundation.org/team-member/howard-schultz/
- Howard Schultz. (n.d.-b). Forbes. Retrieved April 20, 2025, from https://www.forbes.com/profile/howard-schultz/
- Howard Schultz. (2025). In Wikipedia. https://en.wikipedia.org/w/index.php?title=Howard_Schultz&oldid=1285405168
- Howard Schultz: An Overview of the Entrepreneur’s Career - 2025. (n.d.-c). MasterClass. Retrieved April 20, 2025, from https://www.masterclass.com/articles/howard-schultz-life-and-career
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- Starbucks’s Howard Schultz: From Coffee Entrepreneur to Three-Time CEO. (n.d.). WSJ. Retrieved April 20, 2025, from https://www.wsj.com/story/starbuckss-howard-schultz-from-coffee-entrepreneur-to-three-time-ceo-439768fc
- Taylor, K. (2017, December 13). From Brooklyn to Billionaire: The Story of How Howard Schultz Transformed Starbucks Into an $84 Billion Business. Inc. https://www.inc.com/business-insider/howard-schultz-chairman-former-ceo-starbucks-successful-billionaire-coffee.html
- The Man Behind Starbucks Reveals How He Changed the World—YouTube. (n.d.). Retrieved April 20, 2025, from https://www.youtube.com/watch?v=LnA7n9qSB7E&t=255s