Determination, hard-work and integrity are characteristics that entrepreneurs develop from within. When it comes to succeeding in business, much of your success is dependent upon your own efforts. However, some entrepreneurs who have already succeeded in business can serve as an inspiration to others, especially those who have went on their own to become billionaires. Although each person has their own story and experiences, similar characteristics and traits can be found in each, starting with the belief that anything is possible.
Mark Zuckerberg understood that people love to connect and share what is important to them, and this is what has helped him become the youngest billionaire in the world. He capitalised on the advancements in technology to create a platform that allows people to connect with each other without being in the same place. After undergoing several structural changes, the end result of his idea is one of the most innovative companies in recent history. Mark Zuckerberg started the social networking site FaceBook while attending Harvard University, although he later dropped out in 2004. A company that started off as a small idea in his dorm room evolved into a social platform that currently has more than 600 million members. Lessons entrepreneurs can take hold of from Mark Zuckerberg’s success is to hold on to a long-term perspective in business, stay willing to make the necessary changes to become successful and to not be afraid to set high goals and take chances.
Warren Buffet is known as one of the pioneers of value investing. He bought his first stock at the age of 10 after saving money he earned delivering newspapers and magazines to neighbourhoods. He started the company Berkshire Hathaway, which has become one of the largest investment firms in the world. Although his estimated net worth is around $50 billion, he lives life simply and without extravagance. He still lives in the home he bought 50 years ago. Warren Buffet believes that giving back to others is one of the greatest rewards a person can receive.
Steve Jobs was known as being an innovator, creator and visionary. He started his company in a spare room in his parents’ home, and is credited for making the the first PC. He founded the company Apple and later left the company to make big movies after purchasing Pixar from George Lucas in 1986 for $10 million. He sold Pixar to Disney for $7.4 billion in Disney stock and went back to Apple. During his second tenure at Apple, he revolutionised the way people use computers, cell phones, listen to music and watch videos with the creation of iTunes, the iPhone and iPad. Steve Jobs speaks often about doing what you’re truly passionate about and selling dreams instead of products. Steve Jobs once stated, “Those who are crazy enough to think they can change the world are the same ones that do.”
Richard Branson, an English businessman, is the owner of the Virgin Brand. His companies have made substantial impacts on the financial, industrial, airline and hospitality sectors. Richard Branson dropped out of high school, suffering from poor mathematics and reading skills. Through hard work and determination, he now enjoys a net worth of approximately $4.2 billion. Richard Branson believes in trusting your instincts, following your passion and creating something that stands out from the rest.
Oprah Winfrey started her career as a talk show host and has become one of the most influential women in the world. In addition to her success as a talk show host, she recently launched her own television network, OWN. Oprah Winfrey serves as an inspiration for many, having overcome difficult obstacles in her childhood to become one of the successful entrepreneurs in the world. She stresses when speaking to others the importance of finding your passion because everything else in life stems from that. One lesson that people can take away from Oprah Winfrey’s life story is to never give up, despite the odds.
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Andy works at Finance Choices where he helps to review rewards credit cards for consumers in the UK.