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Business Ideas - 3 Business Lessons From Pierre Omidyar
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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.
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.
"It is not really work if you are having fun...that was the case with me." - Pierre Omidyar
Learn more about Pierre Omidyar here: http://www.evancarmichael.com/Famous-Entrepreneurs/905/summary.php
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
Action Item #2: Follow Your Passion
Action Item #3: Be Nice
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.
"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!