Eight successful entrepreneurs reveal the best business advice.
Every successful business person has faced their share of challenges.
The distinction between successful entrepreneurs and the rest is their tenacity to learn from their errors. Successful entrepreneurs try again and, most importantly, listen to business advice from those who have gone down this road before them. Most have previously failed before achieving fame, money, and success.
Entrepreneurs create and develop their ideas, even when making critical decisions for their businesses. Even though there is no one-size-fits-all solution, looking at some of today’s most successful entrepreneurs may reveal some common tendencies and qualities.
Developing and running a business is no easy task. It takes a lot of hard work and dedication. However, if you’re willing to put in the time and effort, here are eight outstanding entrepreneurs who can help you learn from:
1 Bill Gates: keep learning and exploring.
Bill Gates is Microsoft’s co-founder and former CEO. With a net worth of $97 billion, he was at one time considered as the richest man in the world. Gates is credited as one of the initial movers who revolutionized the personal computing industry with Microsoft’s Windows operating system. In 1975, Microsoft branched out into various other markets, including gaming, mobile devices, and cloud computing.
He remains one of the most successful entrepreneurs in history and a great source of business advice.
“Your ability to learn is key – it doesn’t matter how smart you are.”
“Explore widely,” as technology changes rapidly and there are always new opportunities to capitalize on.
2 Mark Zuckerberg: keep iterating until it sticks.
The co-founder and CEO of Facebook Mark Zuckerberg, one of the world’s wealthiest individuals. With a net worth of $62 billion, he is ranked number five on Forbes’ list of billionaires. When he was a student at Harvard, Zuckerberg created Facemash, a website that evaluated students on campus based on their attractiveness. After the website went viral, Zuckerberg dropped out of Harvard to focus on Facebook full-time.
“The biggest risk is not taking any risk.”
“You need to be willing to grind it out for a long time.”
Zuckerberg’s business advice revolves around the idea of iteration – keep trying new things until one of them sticks. This is a valuable lesson for any entrepreneur.
“If you’re not constantly pivoting, you’re going to die.”
Innovation is key to success in business, and Zuckerberg’s advice on this front is vital. Pivoting means being flexible and ready to change direction when necessary – something all entrepreneurs needs to be prepared for.
3 Elon Musk: be passionate about your work.
Elon Musk is an entrepreneur, investor, and engineer who runs the SpaceX rocket program, Tesla Motors, and SolarCity. He’s also the brain behind The Boring Company, a tunnel construction business. Musk is worth $28 billion as of 2018, making him one of the world’s wealthiest people. Musk was born in 1971 and began his career as an entrepreneur at 12.
“The companies that are the most successful are just passionate about what they do.”
Musk’s advice is to find something you’re genuinely passionate about and work hard until your dream comes true. Successful business people often face failure, so it’s essential to have a passion for their endeavors to push through the tough times.
“I would just say, don’t give up.”
This piece of advice is essential for any entrepreneur – it’s not easy to start and run a business, but it’s critical to never give up on your dreams.
4 Larry Page: think big and be open to new opportunities.
Larry Page is the co-founder of Google, now known as Alphabet Inc., a multinational technology company. With a net worth of $52. 8 billion, he ranks number 12 on Forbes’ list of billionaires. As an undergraduate at Stanford University, Page created a search engine that indexed pages based on their popularity and not just on how many search terms appeared on the page.
It was the beginning of Google, which Page co-founded with Sergey Brin in 1998. Page is currently the CEO of Alphabet Inc.
“The best way to predict the future is to invent it.”
“I would encourage people to be open to new opportunities.”
Page’s advice is to think big and be open to new possibilities. It’s also important to be flexible and ready to change course when necessary – something all entrepreneurs need to be prepared for. This mindset has led him to become one of the most successful entrepreneurs in history.
5 Richard Branson: don’t be afraid to take risks.
Richard Branson is a British entrepreneur who founded Virgin Atlantic Airways and made his way into other industries. With a net worth of $43 billion, he ranks number 33 on Forbes’ list of billionaires. As an ambitious teenager in the 1960s, Branson started creating newsletters for local businesses that advised customers about their rights.
“The biggest mistake people make is not trying something because they’re scared of failing.”
“You have to take risks.”
Branson’s advice is not to be afraid to take risks. It’s also important to be flexible and ready to change course. This mindset has led him to become a successful entrepreneur in many industries.
6 Jeff Bezos: focus on the long term.
Jeff Bezos is the founder, chairman, and CEO of Amazon. He has a net worth of $112 billion and ranks as the wealthiest person globally. In 1994, he left his job at D. E. Shaw & Co., a Wall Street hedge fund, to start Amazon.
“The long term is what matters.”
Bezos’ advice is to focus on the long term. This mindset has led Amazon to become one of the most successful companies in the world. It’s also important to be flexible and ready to change course when necessary – something all entrepreneurs need to be prepared for.
“We are stubborn on vision. We are flexible on details.”
This piece of advice is essential for any entrepreneur – it’s not easy to start and run a business, but it’s vital to be flexible.
7 Warren Buffett: don’t lose sight of what you’re doing.
Warren Buffett is an American business magnate, investor, and philanthropist. With a net worth of $84 billion, he ranks the second richest person globally. In 1962, Buffett purchased a textile company called Berkshire Hathaway.
“What you do is more important than how much money you make.”
Buffett’s advice is not to lose sight of what you’re doing. It’s also important to be flexible and ready. This mindset has led him to become one of the most successful investors in history and a leading philanthropist.
8 Oprah Winfrey: be authentic.
Oprah Winfrey is an American media mogul, talk show host, actress, producer, and philanthropist. She has a net worth of $77 billion, making her the world’s wealthiest black woman. In 1983, she launched The Oprah Winfrey Show, which became one of the most successful TV programs of its kind.
“The biggest key to success is authenticity.”
“The truth is the truth, and people will see it.”
Winfrey advised the audience to be genuine. Her success as a talk show host is mainly due to her adherence to this attitude. It’s also critical to be honest with oneself and others, which all entrepreneurs should expect.
We hope you’ve enjoyed hearing these eight entrepreneurs’ advice. They’re all at different stages in their careers, but they have one thing in common – success! Whether it’s staying focused on the long term or taking risks to grow your business, there are plenty of inspirational insights that will help you succeed as an entrepreneur. Check out our blog for more tips and tricks from successful individuals who know how to make things happen. And if you want personalized coaching with a personal touch? Contact us today!