As part of our ongoing Young Entrepreneur Interview Series, we are lucky to have secured an interview with the founder and chairman of HostGator, Brent Oxley. From growing his company from a one-person operation in his college dorm room, to now hosting sites for over 225,000 customers, Brent really has a fascinating entrepreneurial story, and a lot of information to offer young entrepreneurs looking to have the kind of success he has had. Enjoy the interview, then be sure to share your thoughts in the comments!
Brent Oxley
Founder of HostGator.com
Twitter: @hostgator
You’ve had quite an entrepreneurial journey from your teen years through today. What are the three most important lessons you’ve learned along the way?
- The best way to finding success is by forging ahead through failure. If my previous business ventures hadn’t failed I wouldn’t have ever of founded HostGator. Had my past relationships not failed, I wouldn’t have been blessed with my beautiful wife Jessica who I’m happily married to.
- Reputation is everything in business! The honest approach in the beginning will most likely cost you money, but for the long run, it will never stop paying dividends.
- You have to be adaptable to anything life throws at you. You will be hurt by some of those who you love and trust most in life and business.
HostGator has seen strong, steady growth for quite some time now. At what point did you realize you had hit on something big?
I’ve never had that single defining moment where I stepped back from it all and have said “wow”. There have been some really cool moments along the journey in which I’ve taken a short pause such as dropping out of college, ranking 21st on the Inc 5000, Michael Dell personally emailing me, and many more.
How have you gone about getting investors for your businesses (if applicable)? Please talk about some things you’ve learned in this regard.
HostGator has never had an investor other than being 100% owned by myself. I started HostGator in my college dorm room with about $2,000 in my bank account. I’ve since grown it one customer at a time from reinvesting most of what it profits.
I’ve spoken to many investors over the years that have done nothing but wasted my time and in turn have slowed down our growth. They will lie to you, have too many strings attached, and will always try to lowball you, no matter how much you stress what you’re looking for is firm and not to waste your time.
What three pieces of advice would you give young entrepreneurs interested in starting a new business?
- NEVER have a partner. If you can’t find a way to do it alone your plan is doomed from the very beginning.
- NEVER use credit unless it’s paid off in full every month and you are getting cash back rewards.
- And last to invest every penny and every second of time back into your business. This starts with living with your parents or a friend, switching to a cheaper cell phone carrier, downgrading vehicles, etc. The more you sacrifice in the beginning the greater your riches will be sooner than later.
Do you believe there is a formula for being a successful entrepreneur?
I believe becoming a successful entrepreneur is all about one’s state of mind. Very few people are able or willing to accept responsibility for the decisions they make and/or the cards life has given them. You can either sit around complaining and coming up with excuses, or you can go do something about it.
How do you define success?
I define success as being able to achieve your goals while finding happiness in the process.
HostGator's Houston Office
