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4 successful tips for young entrepreneurs

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Richard Branson

Every entrepreneur’s journey to success is different and unique. However, that doesn’t mean that there aren’t a few simple tips you can use to better your chances of success. Not everyone can afford to have a mentor to keep them motivated or focused. Thankfully, using the following great tips will mean you won’t need one.

Always challenge yourself

Richard Branson, the founder of Virgin Group, has always conducted his business as per his one philosophy: challenger yourself. For him, one’s career should be viewed as a never-ending learning experience or one long stint at university. You never really graduate.

Be prepared for risks

Jeff Bezos, the founder of Amazon, and the wealthiest person in history, encourages young business owners to be prepared to take risks. Most people encounter failure and regret it; however, one should never feel the regret of not trying. To be successful, you need to be prepared to embrace risks when they come to you.

Be patient

Patience is a virtue that many young entrepreneurs don’t have. They want success quickly and easily. No one has ever succeeded immediately or overnight, nor does money grow on trees. Steve Jobs was a staunch believer in this, arguing that even so-called “overnight successes” took a long time to reach that point. Be realistic about the pace of your success.

Know what you want

You must know what you want. This includes your goals, what you want to sell and how you want to do it. Knowing what you want to achieve will ensure that you have a vision for your business and how to make it. David Karp, who is the founder and CEO of Tumblr, suggests that every entrepreneur must have a unique vision. Not only do they need this vision, but they need to have a desire to keep it.

I am a journalist with significant experience covering entrepreneurial, finance, economics, and business around the world. As the senior editor I report on how technology is changing business, political trends, and the latest culture and lifestyle. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others.

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The crazy entrepreneurial stories that you’ll find inspiring and wacky

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Mark Zuckerberg

Most business stories are conventional – a business magnate born into wealth, a “rags to riches” stories or a regular business owner that suddenly falls into that “lightbulb” moment. Some of these crazy stories below happened after the person had become an enormous business success; however, that doesn’t undermine the value of the story in any way. If you’re struggling to find success in your career, check out some of these ridiculous stories for inspiration, or to pass the time.

Mark Zuckerberg radically changed his diet

Zuckerberg is universally known as the founder and creator of Facebook (albeit contentiously). In 2011, Zuckerberg decided to switch things up in his diet by announcing that he would only eat meat that he killed. The purpose was to learn about sustainable farming and more ethical forms of consumption. The Facebook founder lived this way for a year before switching back to meat from the store.

Clive Palmer loves dinosaurs

Famous Australian billionaire, Clive Palmer, loves dinosaurs so much that he tried to clone a dinosaur. He discussed the idea with scientists; however, it never took off. To quell his fix for the prehistoric icons, Palmer opened a dinosaur theme park called Palmersaurus in 2013. Unfortunately, it didn’t last long either.

David Daneshgar funded his start-up via poker winnings

David Daneshgar is the co-founder of BloomNation, an online floral marketplace. While he’s not a billionaire, Daneshgar is a multi-millionaire whose fortune came off the back of winning a poker tournament. He and a group of friends needed around $30 000 to get BloomNation up and running, which just happened to be the prize winnings attached to a poker tournament (the World Series of Poker in 2008). After collecting the money needed, Daneshgar reportedly told his friends “It’s flower time”.

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Inside the mind of George Soros: one of the most controversial entrepreneurs

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George Soros

George Soros is, without a doubt, one of the most polarising entrepreneurs in modern history. His business acumen and philanthropy work have brought him acclamation and praise from some; however, those same decisions have brought him condemnation and criticism from others. Why is George Soros so controversial? Well, let’s hear his story to find out more.

He fled the Nazis in Hungary

Soros was born in Budapest, Hungary in 1930. He endured a Nazi Germany-occupied Hungary and subsequently emigrated to the United Kingdom in 1947. After relocating, Soros graduated from the highly acclaimed London School of Economics with a Bachelor’s degree.

Black Wednesday

Given his turbulent upbringing, many would assume that Soros is widely respected for his rise to financial fame. However, Soros had an instrumental role in the 1992 UK currency crisis, known colloquially as “Black Wednesday”. Soros’ fund short sold over $10 billion worth of pounds sterling, which subsequently earned him a profit of over $1 billion. His intervention caused massive economic instability, and from then one he became known as “The Man Who Broke the Bank of England”. His involvement was lambasted by political leaders, many of whom claimed that he was partially responsible for economic downturns and market contractions.

Fall of communism

Soros was also pivotal in influencing the fall of communism throughout Eastern Europe, naturally bringing him criticism from radical left-leaning groups across the world.

Criticism of China

Furthermore, Soros has also been highly critical of China and its economic approach. He did, however, praise their government as vigorous and more robust than the United States. Nonetheless, he did concede that China would represent a grave threat to open societies and free democracy, criticising the Chinese Communist Party for engaging in totalitarian tactics. In January 2019, Soros reaffirmed that Chinese companies Huawei and ZTE should not be forbidden from engaging in 5G telecommunications.

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Who is the most essential entrepreneurs in history

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Secretary Azar and Bill Gates

There are millions of successful entrepreneurs living in the world today. However, that doesn’t mean that all entrepreneurs are equal in terms of their influence and importance to the industry they work in. Across history, there have been some incredibly significant entrepreneurs, each of whom have brought something paramount to the world of business and production. Here are our top 3 below:

#1 Henry Ford

Henry Ford is one of the greatest business minds of the modern era. While he didn’t invent the automobile, he designed a production model that would ensure that cars could be mass-produced and made available to more members of the public. His gift to the world was the creation of the production line, a production approach that hinged on breaking down a complex production process into smaller tasks. His progressive labour policies and promotion of specialisation meant automobiles could be produced at a higher rate and for a more affordable price.

#2 Bill Gates

Any list featuring the greatest entrepreneurs of all time has to include Bill Gates. Bill Gates and Paul Allen founded Microsoft in 1975. Through technical innovation, Microsoft was able to monopolise the personal computer operating system and make an absolute fortune. Since the early 1990s, the company has adequately diversified its offerings through several corporate acquisitions and expansions, including acquiring LinkedIn in 2016.

#3 Walt Disney

In the 1920s, Walt Disney was a gifted animator for an advertising firm. Using a small studio garage, Disney started creating his own animated shorts, leading to the creation of one of animation’s most original characters: Mickey Mouse. The character became a huge success, and Disney was able to turn the character into a cultural institution effectively. He soon had a cartoon factory with hundreds of employees, thousands of items of merchandising, theme parks across the world and hundreds of animated feature films.

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