Looking at the stories of others as we embark on our own journeys can provide valuable tips, tools, and insights that can guide us toward success—even if it means learning what not to do. The stories of others, particularly success stories, can inspire us, offer us a roadmap, and remind us that our dreams—wild as they may seem—can come true.
When it comes to successful online entrepreneurs, there’s a long list of names. Each has a unique story that led them to success and offers different insights. From the well-known names of billionaires like Elon Musk and Jeff Bezos to the quieter billionaires who have amassed fortunes from their dedicated work, these six lessons are worth taking to heart to guide our own journeys.
1. Be Stubborn in Your Vision but Flexible About the Process – Jeff Bezos
As the founder of the e-commerce behemoth Amazon, Jeff Bezos is renowned for being one of the wealthiest men in the world, all thanks to his e-commerce vision. Being the well-known success that he is, Bezos has been frequently solicited for entrepreneurial advice, leading to him sharing many different tips and techniques for success based on his own experience. Of the considerable advice he’s offered, his notion of having a dedicated and focused greater vision but flexibility and adaptability in how the vision is reached is his most valuable. Essentially, he’s telling aspiring entrepreneurs not to sweat the small stuff, which can feel like the most important things in the world when you’re just getting started.
2. Learn From Mistakes – Jack Ma
Jack Ma, the man behind Alibaba, is as optimistic and resilient as they come, and this has served him incredibly well as he went from job rejection after job rejection to a self-made billionaire by his mid-30s. He shares many secrets to his success, but most, if not all, come back to learning from mistakes. Ma believes that every failure he’s encountered has been there to teach him something and that they have helped him learn what he needed to be successful in business. But when he says to learn from mistakes, it also encompasses learning from others’ perceived failures, as valuable insights and tools can be gained.
3. Take Risks Before You Have Obligations – Elon Musk
Elon Musk might sometimes offer questionable or out-of-touch advice to up-and-comers in the online entrepreneurial realm, but sometimes he delivers gems that we should consider—like the idea of taking risks before you have tons of obligations in life. He delivered this advice as part of a commencement speech, imploring graduates that the time to take risks, experiment, and chase their dreams is when they are starting their careers and their primary obligations are to themselves. He noted that as you get further into your career and life, you have more responsibilities, like family, that make your risks far greater and more challenging to pursue. On that note, he certainly isn’t wrong.
4. Reading Can Strengthen Areas of Weakness – Tobias Lütke
Shopify creator Tobias Lütke never intended to be deeply involved in the company’s business operations. He was there to be a programmer, and that was where his strength lay. But sometimes life has other plans for us, and on his path to success, Lütke found himself thrust into a position where he had to work on his soft skills (like connecting with others) and his business leadership capabilities. He turned to reading for assistance in managing his new and unexpected responsibilities. He applied the tools and lessons from two key books and became a successful leader for his team, helping to propel Shopify into the global giant it is today. While we’ve always heard that reading is important, Lütke drives this idea home with the success he attributes to reading.
5. Invest in Your Talent and Community – Denise Coates
Denise Coates is the woman behind the popular Bet365 platform, who saw the potential of the internet to become the go-to sportsbook, casino, and general gambling entertainment option for gamers worldwide. Bet365 has become one of the most popular betting platforms in the world, and experts have frequently visited, played, and analyzed it alongside the many other websites that have joined the industry since Bet365’s wild success. They wrote and published reviews of their experiences, the best games to play, and the best bonus options on these platforms.
This success and influence didn’t happen overnight. Coates had been working on the site for years and took many financial risks to make it a success. Since it took off, Coates has poured much of her wealth into supporting the talent pool surrounding Bet365’s headquarters, prioritizing mathematics in the education system to set the organization up for future success. Coates has also invested in building a flourishing and connected community, showing the importance of investing in others and yourself on the path to success.
We can take this lesson to heart at every stage of our journey. Investing in relationships, community, and talent with the resources available is never a waste of time or energy, and it will help us and those around us do well. When just one person succeeds, the whole community begins to thrive.
6. Stay Close to the Customer – Brian Chesky
Airbnb founder and CEO Brian Chesky has a rule of thumb he relies on when facing high-level decision-making: look to firsthand feedback for insight. He believes in always bringing his work back to what the customer wants and needs, as he understands that no business can succeed without customers. For him, this means staying grounded and paying attention to the quality of his products and services by engaging with real user feedback. This is an important reminder of how essential customers are to success. Whether we’re starting our journey or well on our way, touching base with customers is always valuable.
Conclusion
When we look at success stories to guide us in our entrepreneurial journeys, we can garner a wide variety of lessons, tips, and techniques for success. These six lessons from self-made business success stories can help inspire and guide us as we turn our dreams into reality.