Early Life
William Franklin "Bill" Austin was born in Nixa, Missouri, in February 1942. His early life was marked by humble beginnings; to supplement his family's income, he collected bottles and harvested local plants. Inspired by medical breakthroughs and a desire to serve, Austin briefly attended the University of Minnesota, aiming to become a doctor. However, a pivotal encounter with an elderly man struggling with a poorly functioning hearing aid changed his path.
Rise to Success
In 1970, Austin purchased Starkey Labs, a hearing aid parts shop, for $13,000. Through innovation and dedication, he transformed it into a thriving global enterprise. Starkey introduced the market's first custom in-the-ear hearing aid and adopted nano and digital technologies. A significant turning point came in 1983 when President Ronald Reagan was photographed wearing Starkey hearing aids, boosting the company's sales substantially. Austin's leadership saw Starkey expand both domestically and internationally.
Key Business Strategies
Austin's business strategy centered on innovation, customer service, and a commitment to quality. He implemented a 90-day free-trial period, prioritizing customer satisfaction. The company's growth was also fueled by its commitment to research and development, creating advanced hearing solutions.
Philanthropy
Beyond business, Austin is renowned for his philanthropic efforts through the Starkey Hearing Foundation, founded in 1984 with his wife, Tani. The Foundation has distributed hearing aids to over one million people in more than 100 countries. Austin's dedication has earned him numerous awards and accolades, solidifying his legacy as a humanitarian and visionary leader.