In this success post, we are going to share the story of Charles Ergen, who has created a Dish TV empire that arguably started the juggernaut of sky-high prices that satellite television is worth today.
Charles Ergen Early Life
Charlie Ergen is something of a rockstar in terms of making it big in the mean business of today’s world. He started out as a professional gambler and had won a lot of money with his future business partner, Jim De Franco, before being accused of counting cards at a casino in Nevada.
Charles Ergen Career
Both of them then decided to start out their own television business and founded EchoStar, a company that dealt with the satellite television dishes still in its fledgling stage in the United States back in the early 80s. They started the company with just $60000 and began targeting areas around Denver.
Now, with a net worth that runs into billions, EchoStar, had very humble beginnings for a business in the United States. His operations began from the back of his truck, where his wife, Catney, and he would sell satellites in order to make sure that they got a foothold in the market. The C-Band antennas that he sold were just starting to pick up, and it was with this that his initial investment got the return that he had expected.
Not satisfied with the excellent returns he was getting, Ergen decided to push his company to the next set of levels and did so by securing close to $335 million in bonds and getting slots for satellites in space. With his proper determination, he was able to get his own geostationary satellite two years later, this beginning EchoStar’s journey into the big league.
Charles Ergen Achievements
Within a time span of two years, with the efforts put in by Ergen, EchoStar had nearly doubled its initial investment and received close to $20.4 million by 1993.
It was with the revolutionary DISH Television that Ergen became the successful entrepreneur that he is today. With smart and innovative tactics, he was able to lure American customers into purchasing his idea and managed to create an empire with sheer efforts and skill.
Charles Ergen is a name that instills hope into every entrepreneur who begins from scratch. His continual efforts to make sure that he moved from strength to strength despite being a country boy is one of the reasons that he is one of the most respected entrepreneurs in the world today.