5 Lessons From 5 Successful Entrepreneurs

 Entrepreneurs are the most vital piece of business. They lay the foundations and put enormous effort into launching their business and keeping it afloat. Some are successful and gain profit from their corporation, while others face the unpleasant reality of going under. The select few that run into disproportionate wealth and success—the Jeff Bezos and Steve Jobs of the world—are the individuals that aspiring or current entrepreneurs should take notes from in regards to building a company. Looking at some of these unimaginably successful entrepreneurs, here are some key points to learn from them.

Steve Jobs: Success Doesn’t Occur Overnight

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” - Steve Jobs

Those who may not be too familiar with Steve Jobs’ road to success are probably unaware of how long it actually took Jobs to turn Apple into a behemoth of a franchise. Apple was created in 1976 and wasn’t recognized until eight years later when the first Macintosh came out. Even after becoming more popular, Jobs didn’t see great success from the business until the 2000s, with the release of unique products such as the iMac. Crafting a successful business takes time and patience, and entrepreneurs must have the self-discipline to stay focused and determined during the time it takes to see results. Jobs managed to stay strong and keep striving for success, even while Apple wasn’t thriving as a company for such a long time.

Keeping your eyes on the prize, even when you’re the only one that can see it, is what set someone like Steve Jobs apart from his competing entrepreneurs.

Elon Musk: There Is No “Clocking Out” As An Entrepreneur

Tesla’s CEO, Elon Musk, is the epitome of a workhorse. As the head of Tesla, Musk works about 120 hours per week. His explanation to why was rather simple, "Well, the other option would have been, Tesla dies.” Having this “do-or-die” mindset is what pushed Musk to make Tesla the phenom of a company it is today. 

An important part of avoiding the burnout that some entrepreneurs may face from working so much is to ensure you are truly passionate about the business you are starting. In an interview, Musk expressed the motivation that keeps him running: "As a leader, you are never satisfied with the present, because in your head you can see a better future, and the friction between 'what is' and 'what could be' burns you, stirs you up, propels you forward. This is leadership”. Musk’s drive for a better future is what fuels him to work tirelessly. For entrepreneurs, he is a great example of what a work ethic should look like and how to sustain it.

Jeff Bezos: Customer Obsession Helps Obtain And Maintain Success

Jeff Bezos is famously known for growing Amazon from a small company headquartered in his garage to a trillion-dollar giant. One thing Bezos has always been obsessed with is satisfying his customers. Always giving customers the opportunity to answer surveys, review products, and speak with Amazon’s Customer Service team is what netted Amazon their well-deserved #1 Customer Service ranking amongst all businesses for eight consecutive years. Listening to customer feedback and making adjustments to improve the customer experience will help your business immensely, just like it helped Amazon. Being open to all types of criticism and being constantly ready for change will help your business withstand anything, even something like a pandemic.

Mark Zuckerberg: Think Outside Of The Box

When Zuckerburg booted up the prototype version of what would become Facebook in his dorm room, he probably had no idea what he was embarking on. Zuckerburg would eventually end up changing how we interact with each other forever. Standing out from everyone else and being innovative is such a strong trait to have as a business. Zuckerburg created something uniquely inventive within its market and accrued an astronomical net-worth for his company as a result; Facebook is now valued at $527 billion dollars. 

When following your passion in starting a business, try to make your product unlike any other in that market. Be sure to showcase your creativity and individuality from the very beginning. Doing this while still appealing to a wide audience could be a tough balancing act, but it is definitely worthwhile in the end. Zuckerburg with his fathering of social-networking and has reaped the rewards from his innovation as a result.

Mark Cuban: Perfectionism Is NOT Key

“Perfectionism is the enemy of profitability.” -Mark Cuban

Mark Cuban’s impressive resume of creating a successful start-up company, coaching, investing in aspiring entrepreneurs on the famous television series “Shark Tank”, and a plethora of other business accolades including buying a NBA franchise makes him one of the best individuals to learn from as regards entrepreneurial success. With so many businesses and moving pieces, things don’t always go as planned. This is the case if you own 30 businesses or if you run one. The lesson: be prepared to make quick adjustments if things go wrong. Trying to make sure every aspect of your business is how you envisioned it will ultimately hinder your success. A part of being a successful entrepreneur is being a realist. Mark Cuban certainly falls into that category, making him successful in spotting exceptional entrepreneurs along with being one himself.

Applying some of these takeaways from some of the top entrepreneurs in the world will help you start a successful company. Being the head of a business requires a certain mindset and work ethic. If you choose to follow these lessons that proved to be triumphant for these famous entrepreneurs, you may just find yourself to be as successful as them one day.

Listen to inspirational stories for business success, ideas, philosophies, and journey of change-makers to start a business that you’re passionate about to build an impactful empire.