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Everything We Can Learn from the Most Famous Entrepreneurs Around the World

Everything We Can Learn from the Most Famous Entrepreneurs Around the World

Does your business seem like it’s about to fail? Do bills pile up and customers don’t come no matter what you do? Instead of giving up, you can learn from the most famous entrepreneurs around the world and follow their examples in finding efficient answers for problems.

Their solutions are different in execution, but they all boil down to these principles:

  • Never stop trying – giving up removes any chance of success.
  • Grab every opportunity – it’ll provide you with resources to accomplish your ultimate goal.
  • Stay focused on your goal but expand your vision – developing in new directions will help you improve and provide additional resources.
  • Turn every failure into a learning experience – use the time you have now to learn something new and try a different approach.
  • Be patient and persevere – understand that success doesn’t come overnight and one has to work hard to achieve it.

Learn from the Most Famous Entrepreneurs: Examples of Perseverance

Let’s learn about some of the most famous entrepreneurs and get inspired by their stories.

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1. Milton Hershey (Hershey’s)

    Hershey started three candy companies in different cities, and each of them failed. He kept trying starting the Lancaster Caramel Company, as caramel was the most popular sweet at the time. Once it got rolling, he sold it to start Hershey’s as he believed that chocolate was the treat of the future.

    2. Todd Graves (Raising Cane’s)

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      Graves’ chicken fingers restaurant business plan was failed by the professors in class and rejected by banks. He did not give up and worked extremely long hours (90-hour weeks) to raise money and start his first restaurant on his own.

      3. Earl Silas Tupper (Tupperware)

        Tupper’s first business went bankrupt, and he barely managed to get a job during the Great Depression. He was hired by the DuPont Chemical company, where he created his first containers and started selling them everywhere he could. The sales were low despite the quality and ingenious design. Eventually, he tried a new approach and established ‘Tupperware parties, suggested by one of the sales executives Brownie Wise.

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        4. Osman Minkara (CIG Capital Advisors)

          Minkara started his business career in the US from the American Express Financial Advisors where he learned all about how to generate more sales leads through cold calls and developed leadership skills. He started his company from the savings he made, but as it began growing, almost all his financial advisors and their clients were seduced away by a competitor. Instead of giving up, Minkara chose to rebuild it from scratch, changing his targeted group of customers and developing a unique line of services. Now his company manages over $200 million wealth.

          5. Nick Woodman (GoPro)

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            Woodman started and failed as an entrepreneur two times. He was reduced to moving in back with parents before trying again and giving his all to GoPro, which turned into a staggering success.

            6. Simon Cowell (American Idol, X-Factor)

              Bouncing between jobs since he was 15, Cowell finally discovered his passion for music production when he got hired by the EMI Music Publishing (worked in a mail room). His first independent publishing company failed within a year, and he went to a small music company where he stayed for eight years and worked to pay off his huge debts. Then he continued working with talents behind the scenes before he finally managed to launch his most successful franchises.

              To Become a Successful Entrepreneur: Never Give Up

              There are hundreds of stories similar to these, but all these entrepreneurs teach one most important lesson. One should never give up.

              If your original idea fails, don’t just beat the same path. Develop a new approach and try again and again.

              More by this author

              Melissa Burns

              Melissa is an entrepreneur and independent journalist. She writes about communication, entrepreneurship and success on Lifehack.

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              Last Updated on September 24, 2020

              17 Ways Learn New Skills Faster and Enjoy the Process

              17 Ways Learn New Skills Faster and Enjoy the Process

              In the movie The Matrix, everyone was intrigued with the ability that Neo and his friends possessed to learn new skills in a matter of seconds. With the incredible rise in technology today, the rapid learning in the movie is becoming much more of a reality than you realize.

              The current generation has access to more knowledge and information than any before it. Through the internet, we are able to access all sorts of knowledge to answer almost every conceivable question. To become smarter, it’s more about the ability to learn faster, rather than being a natural born genius.

              Here are 17 ways to kickstart your Matrix-style learning experience in a short amount of time.

              1. Deconstruct and Reverse Engineer

              Break down the skill that you want to learn into little pieces and learn techniques to master an isolated portion. The small pieces will come together to make up the whole skill.

              For example, when you’re learning to play the guitar, learn how to press down a chord pattern with your fingers first without even trying to strum the chord. Once you are able to change between a couple of chord patterns, then add the strumming.

              2. Use the Pareto Principle

              Use the Pareto Principle, which is also known as the 80 20 rule. Identify the 20% of the work that will give you 80% of the results. Find out more about the 80 20 rule here: What Is the 80 20 Rule (And How to Use It to Boost Productivity)

              Take learning a new language for example. It does not take long to realize that some words pop up over and over again as you’re learning. You can do a quick search for “most commonly used French words,” for example, and begin to learn them first before adding on the rest.

              3. Make Stakes

              Establish some sort of punishment for not learning the skill that you are seeking. There are sites available that allow you to make a donation toward a charity you absolutely hate if you do not meet your goals. Or you can place a bet with a friend to light that fire under you.

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              However, keep in mind that several studies have shown that rewards tend to be more motivating than punishment[1].

              4. Record Yourself

              Seeing yourself on video is a great way to learn from your mistakes and identify areas that you need to improve. This is very effective for any musicians, actors, speakers, performers, and dancers.

              5. Join a Group

              There are huge benefits to learning in a group. Not only are you able to learn from others but you’ll be encouraged to make progress together. Whether it’s a chess club, a mastermind group, or an online meet-up group, get connected with other like-minded individuals.

              6. Time Travel

              Visit the library. Although everything is moving more and more online, there are still such things called libraries.

              Whether it’s a municipal library or your university library, you will be amazed at some of the books available there that are not accessible online. Specifically, look for the hidden treasures and wisdom contained in the really old books.

              7. Be a Chameleon

              When you want to learn new skills, imitate your biggest idol. Watch a video and learn from seeing someone else do it. Participate in mimicry and copy what you see.

              Studies have shown that, apart from learning,[2]

              “Mimicry is an effective tool not only to create ties and social relationships, but also for maintaining them.”

              Visual learning is a great way to speed up the learning process. YouTube has thousands of videos on almost every topic available.

              8. Focus

              Follow one course until success! It’s easy to get distracted, to throw in the towel, or to become interested in the next great thing and ditch what you initially set out to do.

              Ditch the whole idea of multitasking, as it has been shown to be detrimental and unproductive Simply focus on the one new skill at hand until you get it done.

              9. Visualize

              The mind has great difficulty distinguishing between what is real and what is imagined. That is why athletes practice mentally seeing their success before attempting the real thing[3].

              Visualize yourself achieving your new skill and each step that you need to make to see results. This is an important skill to help when you’re learning the basics or breaking a bad habit.

              Take a look at this article to learn how to do so: How to Become a Person Who Can Visualize Results

              10. Find a Mentor

              Success leaves clues. The best short cut to become an expert is to find an expert and not have to make the mistakes that they have made.

              Finding out what NOT to do from the expert will fast-track your learning when you want to learn new skills. It is a huge win to have them personally walk you through what needs to be done. Reach out and send an email to them.

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              If you need help learning how to find a mentor, check out this article.

              11. Sleep on It

              Practice your new skill within four hours of going to sleep.

              Josh Kaufman, author of The Personal MBA, is a noted rapid learning expert. He says that any practice done within this time frame causes your brain to embed the learning more rapidly into its neural pathways. Your memory and motor-mechanics are ingrained at a quicker level.

              12. Use the 20-Hour Rule

              Along with that tip, Kaufman also suggests 20 as the magic number of hours to dedicate to learning the new skill.

              His reasoning is that everyone will hit a wall early on in the rapid learning stage and that “pre-committing” to 20 hours is a sure-fire way to push through that wall and acquire your new skill.[4]

              Check out his video to find out more:

              13. Learn by Doing

              It’s easy to get caught up in reading and gathering information on how to learn new skills and never actually get around to doing those skills. The best way to learn is to do.

              Regardless of how unprepared you feel, make sure you are physically engaged continuously. Keep alternating between research and practice.

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              14. Complete Short Sprints

              Rather than to force yourself into enduring hours upon hours of dedication, work in short sprints of about 20-30 minutes, then get up and stretch or take a short walk. Your brain’s attention span works best with short breaks, so be sure to give it the little rest it needs.

              One study found that, between two groups of students, the students who took two short breaks when studying actually performed better than those who didn’t take breaks[5].

              15. Ditch the Distractions

              Make sure the environment you are in is perfect for your rapid-learning progress. That means ditching any social media, and the temptation to check any email. As the saying goes, “Out of sight, out of mind.”

              Before you sit down to learn new skills, make sure that potential distractions are far from sight.

              16. Use Nootropics

              Otherwise known as brain enhancers, these cognitive boosters are available in natural herbal forms and in supplements.

              Many students will swear by the increased focus that nootropics will provide[6], particularly as they get set for some serious cramming. Natural herbal nootropics have been used for thousands of years in Ayurvedic traditions to improve the mind and learning.

              Find out more about brain supplements in this article.

              17. Celebrate

              For every single small win that you experience during the learning process, be sure to celebrate. Your brain will release endorphins and serotonin as you raise your hands in victory and pump your fits. Have a piece of chocolate and give yourself a pat on the back. This positive reinforcement will help you keep pushing forward as you learn new skills.

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              The Bottom Line

              Learning a new skill should be exciting and fun. Whether you use online courses, real world experience, YouTube videos, or free online resources, take time to learn in the long term. Keep picturing the joy of reaching the end goal and being a better version of yourself as continual motivation.

              More Tips on How to Learn New Skills

              Featured photo credit: Elijah M. Henderson via unsplash.com

              Reference

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