Early Life
William Franklin "Bill" Austin was born in February 1942, in Nixa, Missouri. As a child, Austin supplemented his family's income by collecting bottles and picking blackberries. He initially attended the University of Minnesota, planning to become a doctor. However, his path changed when he helped an elderly man with a hearing aid, sparking his interest in audiology.
Rise to Success
In 1970, Austin purchased Starkey Labs, a hearing aid parts shop, for $13,000. He merged it with his existing business, and through innovation and customer service, transformed it into a thriving enterprise. Starkey pioneered custom in-the-ear hearing aids and utilized nano and digital technology in hearing devices. Sales quadrupled after President Ronald Reagan was photographed wearing Starkey hearing aids in 1983.
Key Business Strategies
Austin's key strategies included introducing the market's first custom, in-the-ear hearing aid. He introduced nano and digital technology to hearing devices. He also implemented strong customer service policies, including a 90-day free-trial period.
Philanthropy
Austin founded the Starkey Hearing Foundation in 1984 with his wife, Tani Austin. The foundation has provided over 1 million hearing aids to people in need worldwide. Austin has been recognized for his philanthropic efforts, including the President's Volunteer Service Award and the Horatio Alger Award.
