Early Life
William Franklin "Bill" Austin was born in Nixa, Missouri, in February 1942. Growing up, Austin experienced modest beginnings. His father was a lumber trader, and his mother worked in a factory. To supplement the family's income, Austin and his mother would collect bottles for recycling and gather berries during the summer months. Inspired by medical breakthroughs, he initially attended the University of Minnesota to study medicine, with the goal of serving those in need.
Rise to Success
Austin's career trajectory shifted when he began working with hearing aids. He saw an opportunity to make a significant impact and quit college to focus on hearing devices. In 1967, he purchased Starkey Labs, an earmold company. Transforming the small business, Austin focused on innovation, customer service, and by offering a 90-day trial period, he disrupted the industry. Under his leadership, Starkey grew to become the largest American-owned hearing aid manufacturer and a global leader in hearing solutions.
Key Business Strategies
Austin's success can be attributed to several key strategies. These include a commitment to innovation, evidenced by the development of in-the-ear hearing aids. His focus on customer service and direct distribution channels, bypassing traditional methods, was another cornerstone. Furthermore, Austin's willingness to provide comprehensive aftercare and support contributed to customer satisfaction and loyalty.
Philanthropy
Austin's philanthropic efforts are central to his legacy. In 1984, he and his wife, Tani Austin, founded the Starkey Hearing Foundation. The foundation has provided over one million hearing aids to people in need worldwide, with efforts spanning more than 100 countries. Austin's commitment to philanthropy has earned him numerous awards and recognition, including an honorary degree from Kenyatta University.