What lessons have highly effective E-Commerce founders, entrepreneurs, and innovators learned throughout their lives?
After countless hours of research and digging for unconventional nuggets of wisdom, that’s the exact question we are going to answer. We compiled a list of extraordinary advice from entrepreneurs from the e-commerce industry. Their advice is powerful, actionable, deep and incredibly valuable.
Jack Ma: If you don’t give up you still have a chance. Giving up is the greatest failure.
While we know Jack Ma now for his unbelievable successes, he failed more times than most of us could stomach in a lifetime.
Ma failed his entry exams three times before being accepted into Hangzhou University. He was rejected from Harvard ten times. He was the only applicant that was rejected by KFC among all 24 applicants. When Ma founded Alibaba in 1998, he was met with more obstacles. The company made zero revenue in the first three years… the list went on.
Through his successes, he has learned the power of one valuable piece of advice:
If you don’t give up, you still have a chance. Giving up is the greatest failure.” – Jack Ma
Ma has proved that no series of failures (no matter how depressing) can keep someone from achieving their dreams.
Company: Alibaba Age: 51 Net Worth: $23.7 Billion
Jeff Bezos: Obsess over customers.
Customer service is baked into Amazon’s mission statement. It’s in the opening words “We seek to be earth’s most customer-centric company.”
With Amazon, Benzos knows customers always want low prices, fast delivery, and vast selections. So he has built a business with this human desire in mind.
Company: Amazon Age: 52 Net Worth: $59.1 Billion
Chip Wilson: It’s ok to ask for help.
Wilson had a tendency never to admit fault and trying to do everything by himself. It created serious problems in his business partnerships. It took him a long time to understand that people love to help, no one has to be insecure and know it all. This very lesson has underscored Wilson’s success.
Company: Lululemon Age: 59 Net Worth: $1.97 Billion
Brian Chesky: Surround yourself with role models and study the habits of successful people.
Growing up, Brian Chesky never envisioned himself as an entrepreneur. Soon, he realized that he didn’t have the management or business acumen to scale his room-sharing start-up. So he got his real world MBA by reaching out to Silicon Valley entrepreneurs, investors, and executives to ask for advice.
Also, he studied their habits until he understood their goals and their mental frameworks. This is how Chesky taught himself to be a world-class CEO.
Company: Airbnb Age: 34 Net Worth: $3.3 Billion
Nick Woodman: You are your own worst enemy.
After he had failed with two online start-ups, Nick Woodman struggled to find ideas and inspirations to start GoPro. He was so scared that he would fail again now that he was totally committed to succeeding.
Company: GoPro Age: 40 Net Worth: $1.31 Billion
Michael Dubin: Create content that goes viral.
It’s not easy to imagine one can build a $615 Million e-commerce company by delivering razors and personal grooming products. Michael Dubin did just that. He used his background in comedy to write and star in a promotional video.
“What Dollar Shave Club did was creating videos that help its customers have a conversation that they are already having with each other. “ Dubin explains.
Company: Dollar Shave Club Age: 38 Net Worth: $615 Million