Upcoming entrepreneurs take inspiration from entrepreneurs who made it big in the field of business. The empire they have managed to build and maintain over the years motivates them. Many upcoming entrepreneurs enter the world of entrepreneurship with hopes of being someone as powerful and influential like Bill Gates, Elon Musk or Steve Jobs. They tend to focus more on their current status or standing in the modern world of business rather than on the struggle and hard work that is the backbone of their success. They started with nothing but managed to build businesses with massive success.
The point that one should ponder upon is to focus on their path. How did they accomplish such level of success and what lessons upcoming entrepreneurs can learn from them?
Bill Gates and His Success at Microsoft
Bill Gates is one of the most famous entrepreneurs of all time, who brought one of the major revolutions in the field of technology. After dropping out of Harvard University in 1974, he introduced a software technology known as Microsoft. Young entrepreneurs can learn a lot from his journey from being nothing to being one of the richest men in the world.
- Bill Gates once mentioned “The most important speed issue is often not technical but cultural. It’s convincing everyone that the company’s survival depends on moving as fast as possible.” He meant that success means constant innovation at a very fast speed. Many similar businesses are also working towards achieving the success that you have wished to achieve. The saying “Slow and steady wins the race” is not applicable in the modern world of business as every second an innovation, thought or idea comes up.
- Always try to stay one step ahead in the competition. Think and focus on the future rather than on the present.
- Try to make the most of the time you have. Time is money. Try to avoid distractions that can create hurdles for you in achieving your desired goal. Make money but without compromising the amount of time you have. Money can never buy time.
- Accepting and learning from mistakes is vital in the field of business. Failure should not be considered a reason to give up. It should be considered a learning opportunity. Failure points out the mistakes that one should avoid in the future.
- Persistence and perseverance is the key to success. Overnight success is impossible. Lack of persistence and perseverance will lead to high hopes, which if not achieved would lead to the entrepreneurs giving up before the outcome.
Elon Musk and His Success at Tesla Motors
Elon Musk is one of the most famous entrepreneurs who made it big in the field of technology. He is the founder of Tesla Motors. He is known for his contribution in revolutionizing space travels, online payments, electric cars, and airplanes. Upcoming entrepreneurs can learn several lessons from him.
Some of them are mentioned below:
- Elon Musk strongly believes in the fact that there is no shortcut or alternative to hard work. The desired outcome might take time, but hard work is essential in reaching the goal an entrepreneur wishes to achieve.
- Focus on the benefits that the work is expected to bring about in the world. Focusing on financial rewards is not beneficial in the long run. Financial rewards might satisfy in the short run but in the long run, a person can only be satisfied by the example he is setting in the modern world of business.
- Avoid following the trends that already exist in the market. Elon Musk believes that one should be a trendsetter rather than a follower of a particular trend, think outside of the box, as something unusual is what attracts the world at large. For instance, creating smartphones with the same features will not help anyone achieve the success that Apple or Samsung has achieved. A unique feature or an idea will help new smartphones stand out in the competition.
- Take criticism in a positive manner. Criticism will help an entrepreneur point out the flaws that exist in his product.
People like Elon Musk and Bill Gates are famous entrepreneurs who have managed to set an example for the world at large to follow. However, there are other people as well who are not as rich as Bill Gates but still hold an important position in the world of entrepreneurs.
Kevin Harrington – A Man Who Sold Newspapers
Kevin Harrington is an entrepreneur who is famous for his appearance on a TV Series known as Shark Tank. He started his journey to do something in life with selling newspapers on the streets. He started his own business of an asphalt sealing operation that fixed cracked driveways at the age of only 15 years. The business was highly successful, but he had something in him that made him strive towards more success.
He didn’t stop and launched Quantum International and also became the pioneer of informercial on Discovery Channel.
What entrepreneurs can learn from the journey of Kevin Harrington is that success is never enough. One should not stop just because their business is working fine. Entrepreneurs should always strive towards achieving bigger and better.
Lessons That Can Be Learned From Different Entrepreneurs
Several other lessons can also be learned from different entrepreneurs worldwide.
- Michael Alden believes that one should not stick to what they know. Many people in the field tend to believe that sticking to what you know is a better way of achieving more in the modern world of business. However, Michael Alden believes in the opposite. According to him, one should keep their mind open that is ready to accept new thoughts, ideas, and innovations. Being narrow-minded in terms of a perspective tends to limit down the opportunities.
- Com Mirza CEO of Mirza Holdings believes that entrepreneurs should master their thoughts and emotions. Businesses go through a process of failures, defeats, setbacks, etc., but every negative aspect should be utilized for growth. Entrepreneurs who are likely to respond to every negative thought and emotion end up in a bigger and worse chaotic situation.
- Marina Rose is the founder of QDNA, i.e. Quantum DNA Acceleration. She sums up her thoughts in a simple phrase. She states, “To believe it and achieve it, I have to see it, feel it, smell it, and taste it.”
All the lessons and tips shared by successful and famous entrepreneurs should be considered and pondered upon. They speak with experience. Successful entrepreneurs like Bill Gates and Elon Musk have seen businesses evolve and grow with new innovations and ideas. Upcoming entrepreneurs should focus more on their journey filled with hardships, struggle, and failures rather than on the result. Determination and persistence might help them achieve more than they have achieved. It takes the right decisions and right moves to end up in the right place.