My name is Evan Carmichael and I believe that the fastest and most effective way to build a business is to model the strategies of people who have already done what you’re trying to do. I call it Modeling the Masters. My last post almost 50 comments was How to Not Quit, Focus on Quality, and Build a Team like Henry Ford.

Today we're going to look at how an entrepreneur followed his passion for computers and in one weekend created the code for a new website that would go on to become one of the most well known sites in the world. This is the story of eBay founder Pierre Omidyar and the top 3 lessons that you can learn from his success.

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"It is not really work if you are having fun…that was the case with me." - Pierre Omidyar

Pierre Omidyar (born June 21, 1967) is an American entrepreneur and philanthropist/economist, and the founder/chairman of eBay. Growing up he became fascinated with computers and often skipped gym glass in school to play on their computers. After graduating high school and university, he went to work for an Apple subsidiary to develop software for the Macintosh. Omidyar soon felt the entrepreneur itch and wanted to start his own business.

When Omidyar was 28 years old, he stayed in front of his computer for the entire Labour Day long weekend and wrote the original code for eBay. Originally called "Auction Web", Omidyar wanted to change the name to echobay and drove to Sacramento to register the name. When he arrived, he found echobay was already registered so he decided to go with eBay on the spot instead of having to make a return trip.

Today, eBay has revenues of over $9 billion and Omidyar serves as its Chairman. He has an estimated net worth of $6.7 billion making him the 50th richest person in the world and it all began with one long weekend writing code and launching a new website.

Action Item #1: Just Go For It

You know what one thing every successful entrepreneur has in common? They got started! You may have great business ideas but if you never take any action on them, you have nobody but yourself to blame. Don't be afraid to try something different and fail. You will know failure. Keep trying and experimenting with little projects until you strike gold and can really run with your new business idea.

Omidyar had a lot of people who never thought his website would ever take off. Why would complete strangers be willing to buy and sell to each other online? How would they trust each other to complete the deal? Omidyar believed that people were fundamentally good people and would be, for the most part, honourable. He kept at it and intended to prove his critics wrong. Omidyar realized it was working when he started earning more money from eBay than from his day job.

According to Omidyar: "I started eBay as an experiment, as a side hobby basically, while I had my day job. A lot of people don’t just go ahead and try things. They’ll have an idea and they’ll say – they’ll convince themselves or other people will convince them that it can’t be done. I just kind of had this naïve approach to – well, gee, you know, why not. I’ll just go ahead and do it. Don’t let people who you may respect and who you believe know what they’re talking about, don’t let them tell you it can’t be done because often they will tell you it can’t be done, and it’s just because they don’t have the courage to try. You’re able to accomplish anything you set out to accomplish."

Action Item #2: Follow Your Passion

Almost every famous entrepreneur gives similar advice - do what you're passionate about. When you love what you do you'll make a far better product or service and will have a much bigger impact on your target market. Don't waste time trying out businesses that you're not really interested in just because they can make money. Focus your energy and talents on what you're uniquely able to create and you're on your way to building a successful business.

From the time he was a young boy, Omidyar knew that his future lied in computers. He didn’t know how or when, but when the other boys were outside playing sports, Omidyar was busy teaching himself computer programming languages like Basic. If he didn't follow his passion and tried to force himself into other areas that didn't interest him, the world would never have come to know eBay.

According to Omidyar: "I always wanted to be involved with computers. I was just pursuing what I enjoyed doing. I was pursuing my passion. It is not really work if you are having fun…that was the case with me. You have to really believe in what you’re doing, be passionate enough about it so that you will put in the hours and hard work that it takes to actually succeed there, and then you’ll be successful."

Action Item #3: Be Nice

A lot of people think that business is cutthroat, but it doesn't have to be. When I hire people one of the core values that we look for is: "Is this person nice?" It's amazing how much more productive you are and how much more fun you have when you enjoy working with the people around you - your staff, your customers, and your suppliers.

Omidyar founded eBay with the belief that nice guys finished first. He created a set of core values for the business based on honesty and building trusted relationships. He also believed that if his company could live by those core values then they would attract customers who felt the same way. To date, his theory has proven to be correct. There are only 30 out of every million transactions that happen on eBay where people file a fraud complaint.

According to Omidyar: "I founded the company on the notion that people were basically good and that if you give them the benefit of the doubt you’re rarely disappointed. Nice guys, a responsible company that has its heart in the right place – that’s run by real human beings – it has to be successful, because if we weren’t that way, eBay would not be successful. eBay wouldn’t exist. It would not be possible.”

True Story

eBay was originally hosted on a website that Omidyar had created with information about the ebola virus. The site originally allowed buyers and sellers to connect for free but as the site grew, he had to charge a small fee. Omidyar hoped that the transaction fees would eventually be enough to cover his website hosting costs.

More Quotes

"You should pursue your passion. If you’re passionate about something and you work hard, then I think you will be successful."

"You have to really believe in what you’re doing, be passionate enough about it so that you will put in the hours and hard work that it takes to actually succeed there, and then you’ll be successful."

"I was raised with the notion that you can do pretty much do anything you want. I always kind of just went ahead and tried things."

What Do You Think?

Did you just go for it with your business idea? Do you think you can be nice and be a successful entrepreneur? What part of Pierre Omidya's message impacted you the most? As always, I’d love to hear your thoughts if you leave a comment below!

Evan Carmichael

To learn more check out my list of Pierre Omidyar articles or my website, EvanCarmichael.com.