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 with almost 6,000 views and 40 comments was 3 Success Lessons from Madam C.J. Walker (America's first self-made woman millionaire).

Today we're going to take a closer look at the fifteenth child of seventeen children who only had two years of grammar school education and went on to become an entrepreneur and one of the Founding Fathers of the United States. This is the story of Benjamin Franklin and the top 3 lessons that you can learn from his success.

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“If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest.” - Benjamin Franklin

Benjamin Franklin (born January 17, 1706) did not come from a family of prominence. Instead, his family could only afford to send him to two years of grammar school and by the time he was 13, Franklin's father sent him off to apprentice at his older brother's print company. Here, Franklin helped to compose pamphlets, set up type, sell the paper on the streets and perform other printer-related duties. Franklin also began writing columns under the pseudonym ‘Mrs. Silence Dogood’, who he fabricated to be a middle-aged widow. Dogood was an immediate hit with her writings about the problems and social conditions of women, but when James found out it was actually his younger brother writing her column, he was furious. As a result of James’ ensuing harassment and beatings, Franklin became a fugitive and ran away from his family at the age of 17.

Franklin tried his luck as a printer both in New York and New Jersey, but to no avail. He then moved to Philadelphia, where he did manage to find a job with a printer. But, Franklin was unsatisfied with his prospects there. After a brief stint at a printer’s shop in London, England, Franklin returned to Philadelphia in 1726. Four years and much borrowed money later, he had finally set up his own printing house. He began to publish a newspaper called The Pennsylvania Gazette, in which he would regularly give himself space to comment on the most pressing social issues of the time. He cultivated an image of himself as an intellectual and a productive young man and his writings were the beginning of what would earn Franklin significant social respect.

In 1748, Franklin officially retired from the printing business, although he continued writing literature and satirical essays throughout the rest of his life. He began to take a more formal role in public life, becoming councilman, Justice of the Peace in Pennsylvania and elected member of the Assembly. Five years later, he was appointed Joint Deputy Postmaster-General of North America and several other posts. In perhaps his most well known feat, Franklin began working towards independence as part of the Committee of Five that drafted the Declaration of Independence. In 1787, after he had retired from public office, he attended a series of meetings that would result in the United States Constitution. He became the only Founding Father to sign all three of the country’s major founding documents: The Declaration of Independence, The Treaty of Paris and the U.S. Constitution.

Action Item #1: Always be Learning

If you want your company to grow and become successful, you need to continue to grow as an entrepreneur. Invest time and resources into yourself and your team so that you're always learning new skills and pouring them back into your business. When you stop innovating and learning your business will start to decline.

Despite having no formal education, Franklin understood its importance and set out to satisfy his insatiable appetite for knowledge on his own. While his father couldn’t afford to send him to school, he nonetheless took the young Franklin on walks to various tradesmen, teaching him about their tools and techniques. His father also exposed him to politics and current affairs, having himself been an active member of his community. By the age of 11, Franklin had taught himself English, French, and Italian and doggedly chased down any literature he could. Franklin’s endless curiosity helped fuel his business pursuits and his scientific inquiries and propelled him to the forefront of America’s intellectual community.

According to Franklin, “It has been useful to me, having learned so much by it as to be able to do little jobs myself... From a child I was fond of reading, and all the little money that came into my hands was ever laid out in books... Genius without education is like silver in the mine... Without continual growth and progress, such words as improvement, achievement, and success have no meaning.”

Action Item #2: Don't Waste Time

How much time do you waste every day? Are you really doing the important things that you need to do to grow your business or are you keeping "busy" with email, Facebook, Twitter, etc. Successful entrepreneurs don't waste time. When it's work time, they work! Focus your energies on the tasks that will explode your business and ignore the distractions.

In his autobiography, Franklin recalls his early days of owning a printing shop when he was just starting to get set up on his own and he would often stay in the office working well past 11pm. If it meant getting a task accomplished on time, Franklin would even stay overnight to do, or redo it if that was the case. It is this strong work ethic that carried Franklin through to the end of his career. As one of the most curious and ingenious of America’s earliest thinkers, it was no difficult task for Franklin to find something to occupy his time with. Industrious to the core, Franklin believed strongly in seizing the moment and putting every minute to good use. However, working hard was not only a matter of profit and dollar signs to Franklin; it was a question of utilizing what was given to you. Thus, at the very bottom line of Franklin’s success was the hard work he put into every single goal he decided to see through.

According to Franklin, “Employ thy time well if thou meanest to get leisure... Sloth makes all things difficult, but industry, all things easy... He that rises late must trot all day, and shall scarce overtake his business at night... Dost thou love life? Then do not squander time, for that’s the stuff life is made of.”

Action Item #3: Be Kind to One Another

A lot of people think to be in business you have to be cutthroat and ruthless. That couldn't be further from the truth. You can have tremendous success by being kind to everyone involved with your company - and it's a lot more fun too! At EvanCarmichael.com one of the first things we look for in a new hire is "Is he/she a nice person?" I hope you'll consider doing the same.

Even though Franklin was wealthy enough to retire comfortably by the age of 42, he continued to pursue civic projects and carry out benevolent acts throughout the rest of his life. He staunchly believed that the good life was achievable in direct proportion to one’s contribution to society and thus, from universities to hospitals to firehouses, Franklin dedicated his resources to giving back. Franklin demonstrated that you could be a successful entrepreneur and still have compassion and care for the world around you. A precursor to today’s movement towards corporate social responsibility, Franklin proved to be once more a pioneer in his field.

According to Franklin, “He is ill clothed that is bare of virtue... Advance civic public purposes and at the same time support the self-help efforts of individuals... Be civil to all; sociable to many; familiar with few; friend to one; enemy to none... If you wouldst live long, live well, for folly and wickedness shorten life.”

True Story

Benjamin Franklin had no real opinions on slavery until he went to England. His wife, Deborah, was not well educated and had problems even writing to him, but pressured him into visiting a grammar school for black children while he was stationed in London. After visiting the school, Franklin found, to his surprise, that black children were just as smart at white children. After coming to this realization, he changed his entire outlook on the way slavery was being conducted in the United States.

Unknown to most people in America, Franklin was one of the first American politicians to advocate the end of slavery in the United States. He had been socially active most of his life, even creating one of the first fire departments in Philadelphia. During the end of his life, he spent a lot of time speaking, writing and publicly admonishing other politicians that believed in slavery. He wanted to start schools for black children and offer them the same things white children had, but in the end, all of his talk would be disregarded. However, his beliefs would eventually lead Abraham Lincoln to the same realization.

Quotes

“Remember not only to say the right thing in the right place, but far more difficult still, to leave unsaid the wrong thing at the tempting moment.”

“I didn't fail the test, I just found 100 ways to do it wrong.”

“Any fool can criticize, condemn and complain and most fools do.”

What Do You Think?

Do you continue to learn or do you know it all? Do you waste time or manage your days efficiently? Are you kind people and socially active in your community? Tell me what you think by leaving a message below.

Learn more by reading my Benjamin Franklin articles or my website, EvanCarmichael.com.

Related Posts

• 3 Success Lessons from Madam C.J. Walker (America's first self-made woman millionaire)
• How to Not Compromise, Get Over Rejection, and Trust Your Gut like Simon Cowell
• How to build and experience, be unique, and focus on the customer like YouTube founders Hurley and Chen
• How to Create a Culture, Work Hard, and Make Customers Happy like George Steinbrenner (New York Yankees)
• 3 Business Lessons from Sam Walton
• 3 Business Lessons from George Foreman
• 3 Success Tips from Robert Kiyosaki (Rich Dad Poor Dad)
• 3 Success Tips from Herb Kelleher (Southwest Airlines)
• 3 Success Tips from Anita Roddick (The Body Shop)
• 60 Inspirational Quotes for 2012

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 with over 4,000 views and 18 comments was How to build and experience, be unique, and focus on the customer like YouTube founders Hurley and Chen.

Today we're going to take a closer look at how a high school dropout became one of the most recognizable faces on television. A music producer and executive, TV personality and businessman all rolled into one, who has been steadily climbing to success for almost four decades. This is the story of Simon Cowell and the top 3 lessons that you can learn from his success.

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“Good is not enough. You've got to be great." - Simon Cowell

Simon Phillip Cowell (born October 7, 1959) grew up in Elstree, Hertfordshire with his three half-brothers, a half-sister, as well as a brother and a sister. His father, Eric, was a successful real estate agent as well as an executive in the music industry, while his mother, Julie, was known throughout town as a socialite. Largely raised by nannies, Cowell and his brother were sent off to boarding school and were frequently transferred for their misconduct. By the time Cowell was just 16-years-old, he had already been a registered student at 16 different schools.

Cowell would never graduate from any of those 16 schools he attended over the years. In 1979, he got his first job working as a mail room clerk for EMI Music Publishing, thanks to his father’s connections. “In many ways, I was glad that I had started my career on the very low rung of the business,” Cowell recalls. “It was there that I learned how to deal with people.” Over the next few years, Cowell would work his way up within the ranks of the company to eventually become a record producer. Unsatisfied with his prospects, Cowell left EMI in the early 1980s to form E&S Music, his own independent music company.

After his achievements in the music industry, Cowell turned his attention next to reality TV. He had witnessed the huge success of the show “Popstars” and was determined to take advantage of what he saw as this rising trend. In 2001, Cowell teamed up with producer Simon Fuller to create “Pop Idol”, where audiences would vote in a national talent search for a pop singer. Cowell himself was one of the panel judges, whose brutally honest criticisms soon became the show’s main attraction. Today, Cowell is considered one of the most successful reality TV creators in the world and is worth more than $320 million, making more than $75 million annually in salary from his television shows and music producing.

Action Item #1: Don't Compromise

As an entrepreneur you're going to have a lot of people tell you that the way you want to do something will never work and you should take a different approach or worse, quit. If you have a vision for how you see things working out, stick to it. Listen to what others have to say and take some of it under consideration but don't let negative people prevent you from doing what you set out to do.

Simon Cowell is all business. He refuses to back down in the face of criticism and opposition and does not let personal feelings get in the way of his work. After Cowell had made particularly harsh comments towards a contestant, family members of that rejected contestant were waiting for Cowell with baseball bats, ready to beat him up. In typical Cowell fashion, he just laughed it off and used a different exit. It was not going to change anything for him. He continues to speak his mind and is a self-proclaimed entrepreneur. He does not compromise.

According to Cowell, “I haven’t done anything particularly harsh. Harshness to me is giving somebody false hopes and not following through. That’s harsh. Telling some guy or some girl who’ve got zero talent that they have zero talent actually is a kindness... I think you have to judge everything based on your personal taste. And if that means being critical, so be it. I hate political correctness. I absolutely loathe it... I've always treated the music business as a business. Whether I'm making TV shows or signing artists, you have to do it by the head and not the heart -- and I run my businesses that way.”

Action Item #2: Don't Fear Rejection

You're going to hear a lot of no's as you build your business - some will likely even come from people you thought you could count on. Don't let rejections hold you back. Some people will say no and that's their loss. Know in your heart that there is someone out there who wants to say 'yes' and don't give up until you find them.

Throughout his career, Cowell would become quite familiar with rejection. After he was initially expelled from numerous boarding schools, Cowell could have easily given up. Headmasters were not only telling Cowell that there was no place for him in their schools, but that there was no place for him in a civilized society. That is a hard message to swallow as a young boy. However, Cowell wanted to prove them wrong. Even in his first businesses, he would face rejection and have to rebuild after the losing everything. Cowell has learned that little failures along the way are what make for a great success in the end. Being rejected is going to happen at some time in your life. It is what you do next after being rejected that makes the difference.

According to Cowell, “Work hard, be patient, and be a sponge while learning your business. Learn how to take criticism. Follow your gut instincts and don't compromise... Not everybody is perfect, and I don't think we should be looking for perfect people... In the music business, over the last 25 years, I’ve faced a lot of rejection... It’s a lesson learned. You have to stand out from the crowd.”

Action Item #3: Trust Your Gut

You never have enough information to make a completely informed decision. By the time you get all the data it's too late to act - you will have missed the opportunity. Instead, learn to get as much details as you can to make a decision and trust your gut. You'll make some mistakes but that's part of business and you'll be better equipped to handle the next big decision. It's better to take action, get it wrong, and course-correct than to take no action at all and miss out.

When Cowell first started out at BMG, he wanted more than anything to produce a hit and prove himself to be a valuable contribution to the company after years of rejection by the industry. Oddly enough, he decided to look in the direction of professional wrestling. His colleagues thought he was crazy, but Cowell had a hunch that if young boys would pay to watch professional wrestling and buy all the related merchandise, they would also buy a WWF-themed record sung by the superstar wrestlers themselves. Cowell’s hunch was right on the mark. The WWF Superstars album was an instant smash hit. After that, few would doubt Cowell’s instincts. He would later go on to record albums with the Power Rangers and the Teletubbies, both of which achieved similar levels of success. When most people had dismissed opera as not being mainstream, Cowell mixed it with pop and four attractive young men and created an instant mainstream success. Where few thought there was any potential for a successful record, Cowell followed his instincts.

According to Cowell, “When I was 30 the company that owned Fanfare went bust, and I effectively lost everything. I had to move in with my parents. In hindsight, it was the best thing that happened in my life because I learned the value of money: not to borrow money and not to live beyond my means... And I learned that getting there is more fun than being there. But one thing that I have always been able to do is to own up to my mistakes and not blame others... I can't bear political correctness. I don't like a rule driven life and I hate the fact that you can't criticize a fat person.”

True Story

Simon Cowell is known best for his honest, sometimes rude, comments he makes to contestants on his reality television shows. However, most people do not know that he starts out every morning the same way. Cowell calls his assistant each morning with the time he wants breakfast. He hits his snooze button, after making the call, two more times. Once he has hit his snooze button for the second time, his assistant starts to bring him in his breakfast, which has been the same for the last five years. He starts out the day with hot water with lemon, then drinks papaya juice with a little lime. After that, he is brought a bowl of oatmeal, then drinks a cup of tea. Once he has finished all of this, he has a spinach smoothie, antioxidant smoothie and finishes his breakfast routine with a seven-fruit smoothie.

After finishing this complicated breakfast routine, this man that everyone thinks is one of the harshest men in television, always turns on the TV to watch cartoons, while having an IV drip of multiple vitamins. He was afraid of needles as a boy, so this tough-acting man has to have his arm frozen with a spray to have the procedure performed. The reason he has such an unusual morning routine is because he plans to live forever, saying, "if I don’t do it .. I could regret this in 300 years’ time."

Quotes

“If you've got a big mouth and you're controversial, you're going to get attention.”

“I think America is a hard nut to crack. But once you get a toehold it's a great place for an entrepreneur because people are so enthusiastic, and you have the most enthusiastic audiences in the world.”

"It’s less depressing than watching the news, which is just relentless. You’ve got to try it one morning, You’ll be happy for the rest of the day."

What Do You Think?

Do you compromise when you know you shouldn't? How do you take rejection? Do you go with your gut when you feel strongly about a project? Tell me what you think by leaving a message below.

Learn more by reading my Simon Cowell articles or my website, EvanCarmichael.com.

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 with over 8,000 views and 44 comments was 3 Business Lessons from Sam Walton.

Today we are going to take a look at how a man went against his father's wishes to run the family business in order to follow his passion. He went on to pursue his dreams and purchase one of the greatest professional baseball clubs in the history of the game. This is the story of New York Yankees owner George Steinbrenner and the top 3 lessons that you can learn from his success.

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“I haven’t always done a good job, and I haven’t always been successful, but I know that I have tried.” - George Steinbrenner

George Steinbrenner (born July 4, 1930) went from coaching college football to saving his family's business and finally owning one of the greatest baseball franchises in history, the New York Yankees. When Steinbrenner started college he chose English literature, which was not what his father wanted him to do. Instead, Henry Steinbrenner wanted George to come back and run the family shipping business. After graduating college, George went in the United States Air Force where he would get his first taste of the business of sports by establishing a sports program in his spare time.

George had no plans on joining the family business or ever owning a professional sports team. After his tour in the Air Force was complete, he went on to join the coaching staff at Northwestern University and then Purdue University, but family problems would take him away from what he loved. He would get a call from his father pleading with him to come home and help prevent the family business from going under. “He told me to get home and get busy,” recalls Steinbrenner. “I wish I could have stayed in coaching. My father never asked that much, but when he did it was an order.”

After successfully saving his family's shipping company and becoming president of the company within four years, George went against his father's wishes and left the business to pursue his love of sports. He would go on to buy the Cleveland Pipers, an American Baseball League team, but the league would fold after a few seasons. George would set his goals higher the next time and buy the New York Yankees for $8.7 million in 1973. Today, the New York Yankees are worth more than $1.3 billion and are the most successful professional baseball franchise in history, at the same time making George Steinbrenner one of the greatest sports icons in history.

Action Item #1: Create a Culture

Once you start building a team around you, you'll realize how important it is to build a culture that supports your company. You want people who have different skill sets but all have the same value system and believe in what you're doing as a company. Now when you're hiring you need to make sure people fit within your company culture and don't just have the skills that you're looking for. One bad hire can bring the morale and spirit of your entire business down so take your time and do it right!

George Steinbrenner knew from the first time he stepped into ownership of the New York Yankees that he would have to change the perception, or culture, of the team and its fans. Being the best meant that he would have to get the best players and start winning in order to get the fans to start coming to the games and backing the team. One of his new policies that he implemented was the grooming of his players. By implementing a strict grooming policy, he would make sure everyone viewed the Yankees as professionals. He wanted the players to be poster boys that others could use as examples. To be the best, you had to look your best. This policy was not just for the players, even the executives and other employees of the Yankees had to abide by these policies.

According to Steinbrenner, “It's an incredible achievement, particularly when I remember that when I bought the Yankees, we had trouble drawing 1 million to the stadium. We have the greatest fans in the world... Winning was everything. I don’t care what they tell you... Winning is the most important thing in my life, after breathing. Breathing first, winning next.”

Action Item #2: Earn by Working Hard

You won't find many successful entrepreneurs who will tell you that it was easy to build a big business. Being an entrepreneur comes with a lot of hard work and energy. It's going to be more work than any job you've ever had. But hopefully it's also a lot more fun than you've ever had too! It all starts with hard work. If you're not willing to give it everything you've got, don't expect anything great to happen.

One thing that George Steinbrenner believed, down to his core, was that a person can only be an earner if they work hard. A hard worker can get themselves out of a lot of trouble and build a business that is successful. He believed that working hard would bring along its benefits. By working hard, a person can do just about anything they want and having people around you that work hard also will make you even more successful. Steinbrenner’s working habits reflect that value system. He worked from home from 8am until noon, when he left for the office and worked there until 7pm. He would make his last call at 11pm, before retiring for the day.

According to Steinbrenner, “My father wasn’t a believer in ‘monetary allowances’ for my sisters and me, so he set us up raising chickens, we sold the eggs to our neighbors… If one of our neighbors wanted a fresh chicken, then we also had to kill and dress the chicken... Every night we had to update the books on everything we sold, and the earnings were equally split three ways... My best and worst boss was the same man – my father...He never – and I mean never – took ‘I can’t’ for an answer. He taught me the value system that, to this day, I have continued to practice.”

Action Item #3: Make the Customers Happy

Successful businesses thrive because of happy customers. Make your customers happy and they'll make you successful. Do whatever it takes to get to know your customers, understand their core issues, and solve their problems. Give them an outstanding experience on top of it and they'll line up to come back to you and tell their friends.

Despite all the rumors and complaints about George Steinbrenner being a tough boss, he did believe in the fans, which he commonly described as his customers. He is one of most customer-centric businessmen in the industry. More than many other sports franchise owners, Steinbrenner went out of his way to please his fans and to give them what they wanted. There were numerous ways in which he showed his fans that he was listening to them. First of all, he thought his fans had the right to watch and support a championship team. That is why he was willing to spend whatever he needed to get the best players and win championships. More than the money, however, Steinbrenner also tried to cultivate a culture of proud New Yorkers.

According to Steinbrenner, “Our team played hard, but we let our fans down. We will do better... We know how to win... As I've always said, the way New Yorkers back us we have to produce for them... Owning the Yankees is like owning the Mona Lisa.”

True Story

Since George Steinbrenner's father did not believe in giving allowances to his children, George and his sisters were set up in a chicken business. They would sell eggs for 50 cents a dozen or chickens to the neighbors to make extra money. They would have to kill the chicken and pluck the feathers if the neighbors wanted to buy a chicken to cook. He did this job from the time he was 9-years-old until he was 15, when his father would decide to send him off to military school.

However, George knew that he would have to give up his portion of the chicken business. Despite the fact that it was family, he had no problem doing whatever it took to make a profit. He was a businessman, bottom line, and he did not let anyone – not even his own sisters – stand in the way of his business aspirations. “I sold my egg company to my sisters for three times what it was worth,” he said. “They’ve never liked me since.”

Quotes

“There is not enough [time] to accomplish everything you’d like to get done.”

“I detest bankruptcy. To me, it signifies failure – personal failure, corporate failure.”

“I haven’t always done a good job, and I haven’t always been successful, but I know that I have tried.”

What Do You Think?

Do you create a culture of being the best? Do you believe you have to work hard to become successful? Do you treat your customers like they are special? Tell me what you think by leaving a message below.

Learn more by reading my George Steinbrenner articles or my website, EvanCarmichael.com.

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 with almost 60 comments was 3 Success Tips from Robert Kiyosaki (Rich Dad Poor Dad).

Today we're going to look at how a high school dropout who was constantly in trouble with the law turned his life around and started to believe him himself. He would go on to become two-time former World Heavyweight Boxing Champion and multimillionaire entrepreneur. This is the story of boxing great George Foreman and the top 3 lessons that you can learn from his success.

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"Learn to sell and you'll never starve."- George Foreman

George "Big George" Foreman (born January 10, 1949) is an Olympic gold medalist, two-time former World Heavyweight Boxing Champion, and entrepreneur. A high school dropout, as a teenager, Foreman didn't know how to read or write. He took to the streets and got into trouble by picking pockets and mugging people. His sister told him "You'll never be anything."

After finding himself on the run from the police one night and digging himself in a pile of mud to avoid their dogs finding him, Foreman decided he had to change his life. He enrolled in a job skills training program for youth and began learning how to read and write. He later also learned how to box and entered into amateur competitions so he could send $50 home to his mother every month. After a year and a half of learning to box he entered into the Olympic Games and won the gold medal. He went on to win the World Heavyweight Boxing Championship twice.

After twice retiring from professional boxing, Foreman became an entrepreneur and toured the world selling George Foreman Grills. In 2002 alone, the company earned $922 million from selling the grills. Foreman would go on to earn 3 times more money from the grills than throughout his entire career as a boxer.  He has also moved on to selling TV shows, clothing, books, and Indy Car racing teams.

Action Item #1: Learn How to Sell

If you want to be a successful entrepreneur you need to develop the ability to sell. Selling is not just convincing customers to buy your products or services. Selling is getting employees, media, investors, suppliers, and everyone else who is involved in your business to believe in what you're doing. It starts with a strong passion for what you're creating. If you love what you're doing and think you can really help people, it's easy to get excited about it and draw others in. If you don't really believe in what you're doing, why should others believe in you?

After Foreman came back to boxing and, at 44 years of age became the oldest person ever to become champion, he started getting calls to endorse companies and become their spokesman. When they saw that he could sell anything from food appliances to cleaning products the companies lined up to get him to represent them. From Doritos to Kentucky Fried Chicken to McDonald's, Foreman went to work selling their products - and people listened.

According to Foreman: "In time I learned the importance of selling... I love selling... If you learn to sell, it's worth more than a degree. It's worth more than the heavyweight championship of the world. It's even more important than having a million dollars in the bank. Learn to sell and you'll never starve."

Action Item #2: Get People to Like You

People like buying from people they like. The more you can get your customers to like you as a person, the more likely it is that they're going to buy from you. People also prefer buying from people rather than corporations. Make sure you show clients the history and the people behind your company. Talk about how and why you started the business and the impact that you're having. The more personal you can make it the more people are going to like you and the more they'll want to buy from you.

During his early boxing career, people hated George Foreman inside and outside of the ring. He stormed into the ring with rage and didn't have much finesse to his game. He was in it for the money at the start and he didn't care what other people thought of him. He even showed up to one fight against Muhammad Ali with an angry German  Shepherd by his side to try to intimidate his opponent. But in order for him to be an effective salesperson he had to change his persona and get people to like him.

According to Foreman: "I'd get mad at the critics, other boxers. I wanted to destroy everybody with my fists. I figure I am going to make a lot of money. I didn't care about nothing else but making a lot of money. I didn't care if people liked me... I cut off all my hair and my mustache. I didn't want to be identified with the old guy... I learned to make people love me to get my message across... When I had a chance to box again, I saw boxing not as a sport the second time around, but as pure business which meant making meetings and trying to make myself attractive to Madison Avenue ."

Action Item #3: Keep Trying Until it Works

It's rare that entrepreneurs make it big off their first idea. And even if they do, the idea has changed many times from what they thought they were going to create. Failing is a part of business. The key is to get started. Too many people don't start because they're afraid of failing. You will know failure - keep going. Fail smarter the next time and eventually success will be yours.

Foreman isn't afraid of failing in business. He's done everything from specialty shoes made for diabetics to a health-food restaurant chain to a reality television series. He's willing to try almost anything if he thinks it might be a good opportunity and it's something he believes in. As long as the business is something he can feel proud of and won't damage his integrity, Foreman is willing to stretch his brand to almost anything. You never know until you try!

According to Foreman: "You've got to start out early in the morning and look at hundreds, literally hundreds of things. And it may take a year, it may take three or four years, but you're going to hit something so you have something to put on the table for your family... You know you put out a lot of buckshot, you're going to strike one."

True Story

With a criminal record and a reputation for being a troublemaker, few gave Foreman a chance. When he joined the U.S. Job Corps looking for a way to get off the streets, he caused so many problems that he was almost expelled from the program. His supervisor advised him to find a different outlet for his anger and suggested he take up boxing. When Foreman first started to box, he was so scared that he just closed his eyes and swung his massive fists to win the fights. It was only until he started going up against better boxers that he had to learn to fight with his eyes open.

More Quotes

"The greatest asset, even in this country, is not oil and gas. It's integrity. Everyone is searching for it, asking, ‘Who can I do business with that I can trust?'"

"You must preserve the quality of your name, your integrity. You don't want to lie about anything. And it's something that people will be happy about once they get to know you. Because people count on you."

"Make a decision you'll be able to sleep with, wake up the next day, look in the mirror and feel good about yourself."

What Do You Think?

How do you sell your products or services? How many times have you tried starting different businesses? What part of George Foreman'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 George Foreman articles or my website, EvanCarmichael.com.

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 with over 25 was 3 Success Tips from Anita Roddick (The Body Shop).

Today we're going to look at how a young lawyer who seemingly had it all bravely left his job to start his own business. He had to fight over 30 lawsuits and nearly went out of business but he stuck with it and created one of the most respected companies in America. This is the story of Southwest Airlines co-founder Herb Kelleher and the top 3 lessons that you can learn from his success.

Must Watch Video

"Your people come first, and if you treat them right, they'll treat the customers right." - Herb Kelleher

Herb Kelleher (born March 12, 1931) is the co-founder and former CEO of Southwest Airlines. After graduating from law school he did what every new lawyer dreamed of. He clerked for the Supreme Court Justice, joined a law firm, and became partner at a firm in his wife's home state of Texas. He should have been on top of the world but he was instead itching for a new career as an entrepreneur. One evening Kelleher was having drinks with a client, Rollin King, and that night the two used a cocktail napkin to hatch a new business, Southwest Airlines.

Using Kelleher's legal experience and King's business background, Southwest Airlines was set up to run only in Texas to avoid having to follow federal price regulations. Kelleher had found a legal loophole and his competition didn't appreciate it. Kelleher had to fight off over 30 lawsuits before Southwest Airlines was even able to get a plane in the air. But they prevailed and bootstrapped their way from a company with only 4 planes to being one of the most admired companies in America.

Southwest is consistently named one of the top five Most Admired Corporations in America by Fortune magazine, which also called Kelleher perhaps the best CEO in America. It has never experienced an in-flight fatality and continues to enjoy growing success. Southwest is also the only airline to have over 30 consecutive years of profit, despite the terrorist attacks of September 11, 2001, which threatened the rest of the industry. In 2001, Kelleher resigned as CEO and president of Southwest due to a personal battle with prostate cancer.

Action Item #1: Put Your People First

Any successful entrepreneur will tell you how important it is to have a good team running your business. Employees who are skilled at what they do and love their work will take you places you might only dream about right now. Treat them as people, give them opportunities, show them how they are adding value, and give them something to believe in and your business growth will explode.

Kelleher believed in the power of having employees who loved working for his company. He paid attention to their needs and made them feel important. He also made everyone have a share in the business' success. Southwest implemented the first profit-sharing plan in the airline industry in 1974. Employees owned 13 percent of the company’s common stock. All of Southwest’s employees, from the janitors to the pilots, receive stock options.

According to Kelleher: “I always felt that our people came first. Some of the business schools regarded that as a conundrum. They would say: Which comes first, your people, your customers, or your shareholders? And I would say, it's not a conundrum. Your people come first, and if you treat them right, they'll treat the customers right, and the customers will come back, and that'll make the shareholders happy... We’ve always tried to be sensitive to the needs of our people and recognize the things that are important to them in their personal lives... At Southwest Airlines, you can’t have a baby without being recognized – getting communication from the general office. You can't have a death in your family without hearing from us. If you're out with a serious illness, we're in touch with you once every two weeks to see how you're doing. We have people who have been retired for 10 years, and we keep in touch with them. We want them to know that we value them as individuals, not just as workers. So that's part of the esprit de corps... If you come here, you'll be happy.”

Action Item #2: Focus Everyone on Customer Service

Customer service is increasingly becoming one of the most important differentiating factors for companies. For a lot of businesses there really isn't all that much that is different in the products or services that they are offering compared to their competition. How do you stand out? Wow your customers with service. Make them love doing business with you so they come back and tell their friends. Have everyone on your team be as supportive as they can towards your customers and your marketing strategy will take care of itself.

At Southwest, people are encouraged to go the extra mile, and then some, to help their customers. There is the man who had a heart attack at the airport, who was then accompanied by a Southwest employee to the hospital. The employee stayed with the man all night and called his wife to update her on his status. Then, there is the passenger who left the airport only to find a flat tire on his car. Moments later, a Southwest employee was changing it for him, despite the fact that the man informed him he had never flown with Southwest.

According to Kelleher: "We have the best customer satisfaction record, based on Transportation Dept. statistics, of any airline in America, the fewest complaints filed per 100,000 passengers carried. So you’re not just getting low fares, you’re also getting wonderful customer service... We have a People Dept. That’s what it deals with, so don’t call it Human Resources – that sounds like something from a Stalin five-year plan. You know, how much coal you can mine. We say everybody is a leader, no matter what your job is. We want you to focus on customer service - and not just to the outside world - customer service to the inside world. If [employees] pollute our other people internally and they in turn savage the people who are doing the work outside, the whole company has just rotted."

Action Item #3: Hire the Right People

If you're going to have a company that puts its people first and grows through repeat customers and referrals you're going to have to do a fantastic job in hiring the right people. Know what type of personality you need in new hires and don't settle until you've found the best person for the job. Once you say you're going to settle for less than the best, that's what happens to your entire business.

In the hiring process at Southwest, many applicants are made to take personality tests. In one example, the vice president of Southwest’s People Department was having difficulty finding a new ramp agent. Frustrated, she went to Kelleher to ask for advice. She said she was embarrassed that she had already interviewed 34 candidates for the position. Kelleher told her to interview 134 people if that was what it would take to find the person with the right attitude for the job.

According to Kelleher: "We have a good many MBAs, but we look at them for attitude as well. We will hire someone with less experience, less education, and less expertise, than someone who has more of those things and has a rotten attitude because we can train people. We can teach people how to lead. We can teach people how to provide customer service. But we can’t change their DNA." One day, Kelleher received a letter from one of Southwest’s ramp agents in Oklahoma. It read, “Herb, I’m on to what you’re doing…You’re making work fun – and home work.”

True Story

In the beginning, Southwest had just four planes and 70 employees. All of the legal battles had left the company on the verge of closing down. It forced Kelleher to make a difficult decision: he had to either sell one of the planes or lay off some of his employees. He chose to sell the plane. In return, Kelleher asked his employees to cut gate turnaround times from 55 to just 15 minutes. They pulled it off and Kelleher had clearly set the culture for his business.

More Quotes

"I learned it by doing it, and I was scared to death."

"Sometimes you need a little courage too just to buck popular opinion."

"The important thing is to take the bricklayer and make him understand that he’s building a home, not just laying bricks."

What Do You Think?

What have you done to put your people first? How have you gone out of your way to help your customers? What part of Herb Kelleher'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 Herb Kelleher articles or my website, EvanCarmichael.com.

Over the past year I've profiled 20 famous entrepreneurs here on TELUS Talks Business. For my last post of 2011 I was asked to do a year in review summary. I thought the best way to share all the knowledge from the successful entrepreneurs that I've profiled was to let them talk for themselves and reveal some of their top tips for entrepreneurs.

If you missed any of the posts you can click on the names of the entrepreneurs. I hope the quotes help inspire you to even greater success in 2012!

Must Watch Video

King Gillette, Gillette Razors

"The razor was looked upon as a joke by all my friends. A common greeting was, ‘Well, Gillette, how’s the razor?’ If I had been technically trained, I would have quit."

"There is no other article for individual use so universally known or widely distributed. In my travels, I have found it in the most northern town in Norway and in the heart of the Sahara Desert."

"The greatest feature of the business is the almost endless chain of blade consumption, each razor paying tribute to the company as long as the user lives."

Ingvar Kamprad, IKEA

"Waste of resources is a mortal sin at IKEA."

"Only those who are asleep make no mistakes."

"IKEA is not completely perfect. It irritates me to death to hear it said that IKEA is the best company in the world. We are going the right way to becoming it, for sure, but we are not there yet."

Estee Lauder

"You get more bees with honey."

"I never dreamed about success. I worked for it."

"When you stop talking, you've lost your customer. When you turn your back, you've lost her."

Henry Heinz, H.J. Heinz Company

"Heart power is less than horse power."

"A wide market awaits the manufacturer of food products who sets purity and quality above everything else in their preparation. "

"To do a common thing uncommonly well brings success."

Issy Sharp, Four Seasons Hotels

"Long-term success is never achieved on our own. The phrase ‘a self-made man’ is a myth – all along the way we need support."

"If someone had told me ‘Look, you’re going to start today and spend the next five years wasting your time trying to get this thing start’, I would have said I can’t do that. But you never think about what it’s going to take of you. Think: I’ve got it now."

"Whatever you do, don’t ever use a crutch, and don’t ever think of having an excuse for not having said, ‘Yeah, I did my best.’"

S. Truett Cathy, Chick-fil-A

"We must motivate ourselves to do our very best, and by our example lead others to do their best as well."

"People want to work with a person, not for a company."

"I realized I could do anything if I wanted it badly enough."

J.K. Rowling, Harry Potter

"It is our choices that show what we truly are, far more than our abilities."

"Destiny is a name often given in retrospect to choices that had dramatic consequences."

"Anything’s possible if you’ve got enough nerve. I was determined to try. I was determined to try because, frankly, my life was such a mess at this point, what – what was the worst that could happen? Everyone turn me down? Big deal."

Robert Johnson, BET

"BET was a business opportunity waiting for someone to put it together."

"If there’s something I can do and I feel it should be done, I just want to do it. I just don’t want to leave it undone because I’ll sit back and say, why didn’t I do that? Why didn’t I start that business?"

"Anything that has to do with money, I want to be in that business."

Howard Hughes, Hughes Aircraft

"I intend to be the greatest golfer in the world, the finest film producer in Hollywood, the greatest pilot in the world, and the richest man in the world."

"I certainly would not ask somebody else to fly a plane if I were afraid to do it myself."

"The trouble with my life is that I do not think I am cut out to sit behind a desk."

Gerry Schwartz, Onex

"The hardest lesson I’ve learned has been to not repeat the dumb mistakes I’ve made over the years, which are too numerous to list."

"I’m still a long distance from smart. But I’m also a long distance from dumb."

"There is no such thing as high returns without risk."

Dee Hock, Visa

"Failure is not to be feared. It is from failure that most growth comes; provided that one can recognize it, admit it, learn from it, rise about it, and try again."

"If you don't understand that you work for your mislabelled 'subordinates,' then you know nothing of leadership. You know only tyranny."

"Given the right circumstances, from no more than dreams, determination, and the liberty to try, quite ordinary people consistently do extraordinary things."

Calvin Klein

"I think fantasies are for the birds. If there's something I want, nothing stops me."

"You can’t advertise for one group. Otherwise, you end up having a very small business!"

"Doing everything as well as possible meant survival."

Philip Knight, Nike

"Ultimately, we wanted Nike to be the world's best sports and fitness company. Once you say that, you have a focus."

"The trouble in America is not that we are making too many mistakes, but that we are making too few."

"Everybody wants a certain amount of stress. Most people have too much, but I didn't want too little, either."

Ralph Lauren, Polo Ralph Lauren

"The best thing you can do is go away from this saying, ‘I can do this too,’ because it’s all possible and I’m living proof."

"I’m totally involved with all of my products. Everything I make is my message and for years my goal has been to make the things I love."

"Back then when I mentioned Polo most people would look at me funny and say ‘You mean like Marco Polo?’"

William Wrigley Jr., Wrigley Chewing Gum

"Everybody likes something extra, for nothing."

"Even in a little thing like a stick of gum, quality is important."

"Nothing great was ever achieved without enthusiasm."

Leon Leonwood Bean, L.L. Bean

"Above all, we wish to avoid having a dissatisfied customer."

"We consider our customers a part of our organization, and we want them to feel free to make any criticism they see fit in regard to our merchandise or service.

"A customer is the most important person ever in this office – in person or by mail."

Henry Ford, Ford Motor Company

"Wealth, like happiness, is never attained when sought after directly. It comes as a by-product of providing a useful service."

"A market is never saturated with a good product, but it is very quickly saturated with a bad one."

"Most people get ahead during the time that others waste."

Pierre Omidyar, eBay

"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."

George Lucas, Lucasfilm

"I’m extremely grateful that I discovered my passion. I love movies. I love to watch them, I love to make them."

"It’s hard work making movies…if you don’t really love it, then it ain’t worth it."

"I got the licensing rights because I figured they wouldn’t promote the film and if I got T-shirts and things out there with the name of the film on them it would help promote the movie."

Ted Turner, CNN

"Do something. Either lead, follow or get out of the way."

"Watch me. I’m like a bulldog that won’t let go."

"You can never quit. Winners never quit, and quitters never win."

Bonus (from earlier this month): David Ogilvy, Ogilvy & Mather

"The most important decision is how to position your product."

"The psychiatrists say that everybody should have a hobby. The hobby I recommend is advertising."

"Raise your sights! Blaze new trails!! Compete with the immortals!!!"

What Do You Think?

What is your favourite inspirational quote? Do you have a favourite entrepreneur story? As always, I’d love to hear your thoughts if you leave a comment below!

Have a fantastic holiday break and see you in 2012!

Evan Carmichael

To learn more check out my website, EvanCarmichael.com.

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 with almost 70 comments was 3 Success Tips from George Lucas.

Today we're going to look at how a man who had all the odds stacked against him rose up to the challenge, proved his critics wrong, and became one of the wealthiest entrepreneurs in the world. This is the story of CNN founder Ted Turner and the top 3 lessons that you can learn from his success.

Must Watch Video

"Early to bed, early to rise, work like hell and advertise." - Ted Turner

Ted Turner (born November 19, 1938) is an American media mogul and philanthropist. He is the founder of the cable news network, CNN, and is known for his $1 billion gift to support United Nations causes. Growing up, Turner was a 'C' student and was rebellious, eventually getting expelled from Brown University for having a woman in his room with him. In the following years his parents divorced, he got married and divorced, his 12 year old sister developed terminal lupus and his father went so far into debt with his advertising company that he committed suicide. Turner was 24 years old and his father's company was almost bankrupt but he decided he would take over the family business.

Nobody believed the young rebel would ever make anything of himself. Turner set out to prove them wrong. He built up his father's advertising business and then expanded into radio and television ventures. He went on to create the CNN television network and Turner Broadcasting Systems (TBS). He would also go on to buy the Atlanta Braves baseball team and Atlanta Hawks basketball team to provide original content for his stations.

Turner came a long way from a 24 year old who nobody believed in. In 1991, Turner became the first media figure to be named Time magazine's Man of the Year. He owns over 2 million acres of land, has the largest private bison herd of 50,000, and donated $1 Billion to United Nations causes. His current net worth is over $2 Billion and he currently dedicates his time and resources to making the world a better, safer place for future generations.

Action Item #1: Decide You'll Be A Success

A turning point for many entrepreneurs comes when they commit to their business and decide that they are going to see things through until they become a success. It doesn't mean that it's going to happen overnight but it's a commitment to reaching success and putting the daily effort into making that goal become a reality.

Stunned by his father's suicide, Turner realized that he had to set ambitious goals for himself so he always had something to live for. He committed to changing his path and getting serious about his life. Despite advice to sell off Turner Advertising after his father’s death, Turner fought to keep the company and worked to bring in enough business to pay off all its debts. As he grew his business he kept striving for higher goals to keep himself challenged and gave his best effort every day.

According to Turner: "If you’ve got an innovative idea, and the majority does not pooh-pooh it, then the odds are you must not have a very good idea. When people thought I was loony, it did not bother me at all. In fact, I considered that I must really be onto something... You should set goals beyond your reach so you always have something to live for... I decided I wanted to be a success."

Action Item #2: Never Quit

When you're an entrepreneur there's always a temptation to quit when the excitement of starting up wears off and you're into the daily grind of running your business. Don't quit! Remember, you decided that you're going to be successful and that comes from doing something every day that will move your business forward. Remember why you started the business and think about all the people you're going to be able to help. Find that motivation to keep going even when people around you think you're nuts.

Almost every venture that Turner started or every business that he acquired, critics told him that it would never work and he was spending his money foolishly. When Turner told people that he wanted to create a 24 hour news only network, they thought he was crazy. Nobody would tune in to watch news all day long - it was a suicide mission, they said. Undeterred, Turner fought tooth and nail until he finally launched CNN which revolutionized the media industry and became a rapid success.

According to Turner: "All my life people have said that I wasn’t going to make it. They laughed at me when I started with CBS. They laughed at me when I started CNN. They laughed at me when I bought the Braves. They laughed at me when I bought the Hawks. They laughed at me when I bought MGM... You can never quit. Winners never quit, and quitters never win."

Action Item #3: Work Hard

There are many paths to success but one common theme you'll find if you model successful entrepreneurs is that they worked very hard to get their businesses going. Being an entrepreneur is not a 9 to 5 job. You're going to work harder than you've ever worked before and will hopefully love (almost) every minute of it because you're doing something that you're extremely passionate about.  Success does not come without the hard work behind it.

When Turner was launching CNN he frequently worked 18 hour days. He converted his office into an apartment and slept over most nights at CNN headquarters. CNN staff regularly saw him leave his office to grab a cup of coffee in his bathrobe. Turner felt that the best way to lead is by example and he inspired his staff to work almost as hard as him to achieve their common goal. A former employee one said of Turner: "He was much more than a cheerleader. He was the kind of guy you’d want to run through a wall for."

According to Turner: "Early to bed, early to rise, work like hell and advertise... CNN came out of my heart and soul... I see what keeps people young: Work!"

True Story

Turner has a longstanding bitterness with News Corporation's Rupert Murdoch. It began in 1983 when a Murdoch-sponsored yacht crashed into Turner's boat during a race causing it to sink only 10 kilometres from the finish line. Turner was an avid sailor and won the America Cup, sailing's most prestigious award, so he took the crash personally. He challenged Murdoch to a televised fistfight in Los Vegas - Murdoch declined.

More Quotes

"Do something. Either lead, follow or get out of the way."

"Watch me. I’m like a bulldog that won’t let go."

"You can never quit. Winners never quit, and quitters never win."

What Do You Think?

Have you committed to being a success? How hard to you work in your business? What part of Ted Turner'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 Ted Turner articles or my website, EvanCarmichael.com.

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.

Must Watch Video

"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.