You should learn from these Entrepreneurs
While many entrepreneurs would say money isn’t important, many others want to get rich. If the path of other famed entrepreneurs is any judge, you may have made the right career choice.While many entrepreneurs would say money isn’t important, many others want to get rich. If the path of other famed entrepreneurs is any judge, you may have made the right career choice.
“Anything worthwhile in life requires teamwork, and you cannot manage what you don’t understand.”
-Martine Rothblatt, Founder of United Therapeutics and Sirius
Entrepreneurs come from many different walks of life and span every industry, product type, generation and culture. But what all of these entrepreneurs have in common is the steep learning curve to success, with many lessons being learned along the way. So what wisdom can we learn from some of today’s leading entrepreneurs?
-You should learn from these entrepreneurs if your are in college or school
(Cofounder, Chairman and CEO, Facebook)
⦁ At the age of 19, he founded Facebook in 2004.
⦁ A harvard dropout has Real Time Net worth of $71.5 B.
⦁ Zuckerberg started Facebook at Harvard for students to match names with faces in class.
⦁ He took Facebook public in May 2012 and still owns about 17% of the stock.
Susan Gregg Koger and Eric Koger (Founders of Modcloth)
⦁ These two high school sweethearts started what’s now a major e-commerce fashion website when they were still teenagers.
⦁ Susan Gregg Koger needed a way to sell vintage clothes she couldn’t fit in her closet anymore, according to a story on the duo in Mashable.
⦁ Eventually, the two took a week off from school to go to trade shows to build out an inventory in sizes and styles beyond what Susan could find in her closet or stumble upon in local vintage shops.
⦁ After the couple graduated from Carnegie Mellon, the business grew dramatically, surpassing $100 million in sales, and in May 2010, Modcloth opened offices in California.
Steve Huffman and Alexis Ohanian(Founders of Reddit)
⦁ Reddit was one of the first startups launched from the now prestigious Y Combinator program.
⦁ But like true startup founders, Steve Huffman and Alexis Ohanian got a taste of rejection before their big break. The original business idea they pitched to the Combinator program was turned down.
⦁ Instead, Combinator co-founder Paul Graham suggested the duo work on what ultimately became Reddit, a digital bulletin board for entertainment and news sharing.
⦁ Ohanian told Inc. that he and Huffman built Reddit in three weeks and after a year and a half of work. The website was bought in 2006 by Condé Nast for about $20 million.
Evan Spiegel and Bobby Murphy(Founder of Snapchat)
⦁ It’s unsurprising, perhaps, that an app created specifically to share embarrassing or questionable photos with little fear they’ll come back to haunt you was dreamt up by college students in the midst of parties, alcohol, and often, immaturity.
⦁ But Snapchat has long since outgrown its youthful conception. In 2015, co-founder Evan Speigel said the app had 100 million daily users, and it’s valued at $16 billion.
⦁ The app also has much in common with Facebook, perhaps the best-known of insanely successful dorm room companies.
⦁ Since the age of 15, Adam Horwitz has had one entrepreneurial goal: create a million-dollar company by the time he was 21.
⦁ “I just love being able to build a business and watch it grow into something huge,” said Horwitz. “The journey is the most exciting part.”
⦁ His latest venture is YepText, a text messaging service that enables businesses to attract customer foot traffic to their locations by text messaging ads and promotions to their smartphones.
⦁ Currently, Horwitz spends his days growing YepText, while working on several other ventures.
⦁ His message to other aspiring, young entrepreneurs: “Anything is possible now, just make sure that you take action and never, ever give up.”
Nat Turner(Founder of InviteMedia)
- InviteMedia, an ad tech company that designed a platform for buying digital banner ads, sold for $81 million to Google in 2010.
- Nat Turner had started the business while an undergrad at the University of Pennsylvania, after an internship and with some seed funding through Wharton entrepreneurship programs.
- In 2012, he founded a new venture in medical software. We should note, though, that Turner didn’t catch a major break on his first venture.
- As he writes on his website, he founded a web development company, a website for swapping giftcards, and a reptile breeding company—all before enrolling in college.