Joseph Segel facts for kids

Joseph Myron Segel (born January 9, 1931 – died December 21, 2019) was an amazing American entrepreneur. An entrepreneur is someone who starts new businesses. Joseph Segel founded more than 20 companies! Two of his most famous companies are QVC, a TV shopping channel, and the Franklin Mint, which made cool collectible items.

Joseph Segel was recognized for his work many times. He was added to the Direct Marketing Association's Hall of Fame in 1993. He also received a special Lifetime Achievement Award and an honorary doctorate degree from Drexel University. In 1977, he won the Philip H. Ward, Jr. Medal from The Franklin Institute. He was even named one of "The Greatest Business Leaders of the Twentieth Century" by Harvard Business School. The Wharton School also listed him as one of their most influential alumni. He was one of only 10 people to be on both of these important lists!

Early Life and First Businesses

Joseph Segel was very creative from a young age. When he was just 13, he started his own successful printing business. At 16, he went to the Wharton School of the University of Pennsylvania in Philadelphia. He earned a Bachelor of Science degree in Economics in 1951. While he was a graduate student, he taught marketing classes. At the same time, he ran his first big business, the "Advertising Specialty Institute". This company was the first to publish a guide of promotional items and where to find them.

In 1964, Joseph Segel noticed two interesting things happening. First, General Douglas MacArthur had passed away. Second, people were lining up to buy the last U.S. silver dollars. This gave him an idea! He started the National Commemorative Society. This company made special silver medals each month to honor important American events and heroes. The first medal honored General Douglas MacArthur.

Later that year, he wasn't happy with how another company was making his medals. So, he asked Gilroy Roberts, who was the Chief Engraver of the U.S. Mint, to join him. Together, they started the General Numismatics Corporation. This company soon became famous as Franklin Mint in 1965. The Franklin Mint quickly grew. It made not only medals and casino tokens, but also other cool collectibles. These included model cars, fancy board games, and porcelain dolls. Joseph Segel retired as the chairman of Franklin Mint in 1973.

National Software Testing Laboratories

In 1983, Joseph Segel founded the National Software Testing Laboratories, also known as NSTL. This company published monthly newsletters like "Software Digest." These publications helped big companies choose the best computer products. NSTL also tested computer hardware and software to make sure they worked well.

Public Service Work

Joseph Segel also spent time helping others. In 1971, he became the chairman of the Board of Governors for the United Nations Association of the USA. Two years later, President Gerald Ford chose him to be part of the U.S. team at the United Nations General Assembly. He worked there with Henry Kissinger.

He also helped create a national campaign to help people understand the United Nations better. He spoke to newspaper editors about the UN and even spoke to the U.S. Senate to support the United Nations.

Starting QVC

In 1986, Joseph Segel had another big idea. He watched a TV channel called the Home Shopping Network. He saw many ways to make it better, from the products they sold to how they showed them. He decided to start his own TV shopping channel called QVC. The letters QVC stand for "Quality Value Convenience."

To make QVC trustworthy, he made a deal with Sears to sell their products for two years. He also raised over $20 million to start the company. Ralph Roberts, who founded Comcast, helped him. Ralph Roberts made deals with cable companies. These companies would invest in QVC and carry the channel on their TV networks.

On November 24, 1986, QVC launched its first broadcast. Fifty-eight cable systems in twenty states showed QVC. This meant 7.6 million homes could watch it! The QVC stock was first offered at $10 per share. On its first day of trading, it closed at $20 per share, even before the first show aired!

Joseph Segel had strict rules for QVC presenters. He wanted them to inform viewers about products, not pressure them to buy. Presenters had to learn about each product, explain its benefits, and know its sales history. This made the shows fun and informative. He did not allow "hard sell" tactics. Unlike other channels, QVC let customers buy at any time, without last-minute price cuts.

At first, another channel called Cable Value Network was the biggest. QVC was much smaller. But with the help of cable operators, QVC bought out Cable Value Network. QVC then became the main competitor to the Home Shopping Network. Today, QVC is a huge company. It employs over 10,000 people and makes billions of dollars in business each year. It is one of the highest-earning American television networks.

Joseph Segel retired from QVC in 1993. However, he continued to advise the network until 2013.

Later Life and Passing

Joseph Segel passed away on December 21, 2019, at the age of 88. He died in Gladwyne, Pennsylvania, from heart failure.

Businesses Started by Joseph Segel

Joseph Segel was a true entrepreneur. Here are some of the many businesses he started:

• 1947 - Eastern Advertising Co., Inc. (advertising items)
• 1949 - Desk-Sign Manufacturing Co., Inc. (personalized desk signs)
• 1950 - Magicard Co., Inc. (promotional mail)
• 1950 - Advertising Specialty Institute (information for promotional products)
• 1953 - Colorcrafters, Inc. (full-color printing)
• 1954 - Selective Gift Institute, Inc. (business gift selection)
• 1960 - National Business Services, Inc. (combined his previous businesses)
• 1961 - Gem Publishing Co., Inc. (humorous books)
• 1962 - Jordan-Edwards Co., Inc. (pocket appointment books)
• 1964 - National Commemorative Society, Inc. (commemorative medals)
• 1964 - The Franklin Mint (originally General Numismatics Corporation)
• 1965 - Britannia Commemorative Society, Inc. (commemorative medals)
• 1970 - Le Mirador, S.A. (Swiss resort and spa)
• 1975 - Presidential Airways, Inc. (private jet and helicopter service)
• 1977 - RateSearch Corporation (computerized air freight rates)
• 1981 - PermaColor Corporation (systems to preserve color photos)
• 1983 - Software Digest, Inc. (PC software reports)
• 1983 - National Software Testing Laboratories, Inc. (PC software testing)
• 1986 - QVC Network, Inc. (televised home shopping)
• 1997 - International Skincare Research, Inc. (skincare products for QVC)
• 1997 - SmokeStoppers, Inc. (smoking cessation programs)
• 2008 - GoBYO.com (online restaurant database for BYOB places)