BUSINESS ADVICE FROM SUCCESSFUL ENTREPRENEURS
Have you learnt that on many occasions, it is a lot easier to dare and accomplish something when you have seen others do the same? It is as though their success inspires us and shows us that we too can accomplish what they have. This is also true for entrepreneurship; whether digital or traditional.
I have been an entrepreneur for most of my life and I can speak from experience that the success and wisdom of others have played an important role in my perseverance, faith and inspiration to win in this game of entrepreneurship.
In this chapter of Chronicles of a Digital Entrepreneur, I will share with you my favourite business advice from successful entrepreneurs so you too can benefit from their wisdom and be inspired by their successes.
Tony Onyemaechi Elumelu is an economist, entrepreneur, and philanthropist. He is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. Elumelu is included in Time magazine 's 100 Most Influential People of 2020.
ADVICE: “Read books & study successful people”.
Aliko Dangote is a Nigerian billionaire businessman, who is the founder, chairman, CEO of Dangote Group, an industrial conglomerate in Africa.
He has an estimated net worth of US$8.3 billion (July 2020), making him the 162nd wealthiest person in the world and the richest person in Africa.
ADVICE: “Only invest in what you completely understand.”
Folorunso Alakija billionaire businesswoman. She is involved in the fashion,oil, real estate and printing industries. She is the group managing director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited, Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited.
She also has a majority stake in DaySpring Property Development company. Alakija is ranked by Forbes as the richest woman in Nigeria with an estimated net worth of $1 billion. As of 2015, she is listed as the second most powerful woman in Africa after Ngozi Okonjo-Iweala and the 87th most powerful woman in the world by Forbes.
ADVICE: “Take challenges, go the extra mile.”
Jeff Bezos is an internet entrepreneur, industrialist, media proprietor, and investor. He is best known as the founder, CEO, and president of the multinational technology company Amazon. The first centi-billionaire on the Forbes wealth index, Bezos has been the world's richest person since 2017 and was named the "richest man in modern history" after his net worth increased to $150 billion in July 2018. According to Forbes, he is the first person in history to have a net worth exceeding $200 billion.
ADVICE: “Be ready to take big risks and fail.”
Oprah Winfrey is a talk show host, television producer, actress, author, and philanthropist. She is best known for her talk show, The Oprah Winfrey Show, which was the highest-rated television program of its kind in history and ran in national syndication for 25 years from 1986 to 2011. Dubbed the "Queen of All Media", she was the richest African American of the 20th century and North America's first black multi-billionaire, and she has been ranked the greatest black philanthropist in American history.
ADVICE: “It is easier to succeed while doing what you love.”
Elon Musk is a business magnate, industrial designer and engineer. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company. As of November 24, 2020, his net worth is estimated by Forbes to be US$126.2 billion, making him the second-richest person in the world. As CEO of Tesla, he is the longest tenured CEO in history of any automotive manufacturer globally.
ADVICE: “Starting a business is not for everyone. Starting a business, I'd say, number one is to have a high pain threshold”.
Bernard Arnault is a billionaire businessman and art collector. He is the chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world's largest luxury-goods company. In April 2018, he became the richest person in fashion. Arnault briefly surpassed Jeff Bezos to become the richest person in the world in December 2019.
ADVICE: “You should be very persistent. You need ideas but the idea is just 20%. Execution is 80%.”
Steve Jobs was a business magnate, industrial designer, investor, and media proprietor. He was the chairman, chief executive officer (CEO), and co-founder of Apple Inc., the chairman and majority shareholder of Pixar, a member of The Walt Disney Company's board of directors following its acquisition of Pixar, and the founder, chairman, and CEO of NeXT. Jobs is widely recognized as a pioneer of the personal computer revolution of the 1970s and 1980s, along with Apple co-founder Steve Wozniak.
ADVICE: "Have the courage to follow your heart and intuition. They somehow know what you truly want to become."
I am certain you have been inspired and influenced by these successful entrepreneurs. Until next time, I remain yours in the digital entrepreneurship journey,