The best business schools in the world can teach but real life isn’t as structured as the classroom. Budding entrepreneurs set to learn more from practical advice from those who have been on the same road, and are now icons in their own right. The last time we featured a series of some great entrepreneurial history – and we are glad to present you even more successful business tips from our predecessors.
Value in failures
The richest man in the world didn’t find success immediately. Bill Gates is a Harvard dropout and had a failed company before Microsoft went public in 1986, making him the world’s youngest self-made billionaire then. Gates is often quoted as saying, “Success is a lousy teacher. It seduces smart people into thinking they can’t lose.”
Charismatic Virgin boss Richard Branson has admitted to Forbes magazine that one of his biggest mistakes was launching Virgin Cola. He has this to say: “Every person, and especially every entrepreneur, should embrace failure with open arms. It is only through failure that we learn.”
Trust your hires
Silicon Valley’s biggest companies such as Facebook are notoriously difficult to get hired into. For this, we have Apple’s Steve Jobs to thank. His fanatical attitude on hiring is the gold standard for the industry there.
“It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.” You have to trust that the best people you hire will get the job done. This gives them the freedom and opportunity to impress you.
Don’t resist change
“When Henry Ford made cheap, reliable cars people said, ‘Nah, what’s wrong with a horse?’ That was a huge bet he made, and it worked.” Elon Musk is no stranger to embracing and capitalizing on the changing environment. From online city guide to PayPal and space travel, not only does he embrace change, he pioneers it.
Oprah Winfrey, world’s most influential woman, cashed in on changing things up. When she was a news anchor, she defied conventions by reading news with empathy and emotions. When she got her own show, she tackled broad based issues such as discrimination, health and politics. She ruled American daytime TV for decades.
“I’m sick of people sittin’ in chairs stating their problems. Then we roll the videotape… then we have our experts on the topic… I’m in the ‘What’s next?’ phase of my career.” Oprah Winfrey
No time like now
Malaysia’s very own aviation maverick Tan Sri Tony Fernandes started AirAsia with a couple of old planes. Now it flies to more than 120 destinations, serving 220 million passengers.
“I started with very little money and no experience in the airline industry,” Fernandes told Time Magazine. “I think a betting man would say there’s a fairly good chance he’s going to fail. But I didn’t want to sit there at 55 and think, ‘I wish I’d done that.’”
Have a good idea? Just cracking and create your own journey. Having true success is a long game but each game starts with a foot out the door. Believe in yourself and start making your mark in history.
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