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Entrepreneur Advice From the Most Famous Makers of Our Time

Meredith Wood

Meredith Wood

Editor-in-Chief at Fundera
Meredith Wood is the editor-in-chief at Fundera. She has specialized in financial advice for small business owners for almost a decade, and is sought out frequently for her expertise in small business lending. Meredith’s advice has appeared in the SBA, SCORE, Yahoo!, Amex OPEN Forum, Fox Business, American Banker, Small Business Trends, and more. Email: meredith@fundera.com.
Meredith Wood

Latest posts by Meredith Wood (see all)

Editorial Note: Fundera exists to help you make better business decisions. That’s why we make sure our editorial integrity isn’t influenced by our own business. The opinions, analyses, reviews, or recommendations in this article are those of our editorial team alone.

The key to success is belief. There are things wildly successful people do differently than the rest of the population. For starters, they’re passionate about their ideas and businesses. They forgo a lot of things to make their dreams come true and start their business ventures. They may not eat, sleep, or see their loved ones when their businesses are first taking off but they don’t let that get to them.

They want to change the world for the better and they’re not afraid to share their ideas with anyone who will listen to them. Successful people put the customer first. They spend their money wisely because they know that it could potentially make or break their companies.

Successful people know defeat and failure. They’ve felt heartbreak. Loss is something they can describe well. It’s not enough to make them quit, however, and that is how success is achieved. You can even read about their experiences and hear entrepreneur advice straight from the trailblazers themselves.

Author, motivational speaker, and entrepreneur, Tony Robbins, had this to say about success:

“People who succeed have momentum. The more they succeed, the more they want to succeed, and the more they find a way to succeed. Similarly, when someone is failing, the tendency is to get on a downward spiral that can even become a self-fulfilling prophecy.”

Some of the most famous entrepreneurs of our time were down on their luck before they ever became successful businesspeople. They paid their dues and now serve as role models for the rest of the world. These are their stories. The candid entrepreneur advice shared by these exceptional men and women can help you blaze trails as a new entrepreneur and tackle obstacles, whatever they may be. If you think you’re ready to become an entrepreneur, keep reading below.

Entrepreneur Advice From 6 Highly Successful People

These are just some of the biggest movers and shakers in their industries, and the entrepreneur advice they have to offer. Hopefully, this entrepreneur advice will inspire you along your own journey to business success. And who knows, maybe one day you’ll be doling out entrepreneur advice of your own.

Entrepreneur Advice From Oprah Winfrey

Oprah Winfrey said, “The biggest adventure you can ever take is to live the life of your dreams.” Arguably one of the most successful female entrepreneurs in the world, Winfrey climbed the ladder of success swiftly but never forgot the people who helped her achieve celebrity status. To know Winfrey is to love Winfrey.

With a net worth of $2.6 billion dollars, the actress, television and film producer, and media proprietor owes her success to the talk show circuit where she addressed everything from humanitarian issues, health, spirituality, and other areas of concern for people worldwide. That doesn’t mean she didn’t experience hardship along the way. She has had her share of struggles and setbacks like any other entrepreneur.

What Winfrey did right was believe in her dreams until they became a reality. She put in the time, learned her lessons, and now reaps the rewards of a life well-lived. More importantly, she gives to others in need so that they, too, can be presented with similar opportunities.

Oprah’s Angel Network has helped establish 55 schools in 12 countries. It has raised more than $80 million dollars with every penny of proceeds going to help those in need. Education is a passion of Winfrey’s. She believes it should be accessible to everyone. That’s what makes her a fitting role model and mentor, and a great entrepreneur to seek advice from.

Entrepreneur Advice From Steve Jobs

Perhaps the most frequently shared words of entrepreneur advice come from Steve Jobs, an innovator, inventor, and one of the most famous entrepreneurs of our time. He created a need for personal computers, made Apple a household name, and had what some people call the Midas touch. He succeeded in everything he set out to do.

“Just do what’s right,” Jobs famously said to Apple CEO Tim Cook.

That simple advice has become part of Jobs’ legacy. He passed away in 2011 due to pancreatic cancer, but left behind big shoes to fill—not to mention this inspiring entrepreneur advice.

“We don’t get a chance to do that many things, and every one should be really excellent. Because this is our life. Life is brief, and then you die, you know? And we’ve all chosen to do this with our lives. So it better be damn good. It better be worth it.”

Entrepreneur Advice From Bill Gates

Bill Gates got it right when he said, “Your most unhappy customers are your greatest source of learning.”

How can you better your business if all you have is fans? Critics help point out potential problem areas so that you can address the issues accordingly. If everyone built their careers on praise alone, there would be very few wealthy entrepreneurs in the world today. Every business owner has to deal with negative feedback every once in a while and hopefully can use it to improve.

Gates, the founder of Microsoft, is a computer programmer, inventor, investor, and philanthropist. His net worth is over $103 billion. His management style has been criticized throughout the years, but it has seemed to work well for him. As someone who held the “richest man in America” title for decades, there’s a lot to be learned from his business approach and entrepreneur advice.

It’s Gate’s drive that makes him so interesting to study. When asked about the future, he proclaimed, “If I’d had some set idea of a finish line, don’t you think I would have crossed it years ago?” There’s no stopping a person with that much passion.

Entrepreneur Advice From Judy Faulkner

When you’re good, you’re good and it’s hard to stay incognito for long. Judy Faulkner of Epic Systems discovered this when sales skyrocketed, launching her into the role of the most powerful woman in private health care. Now with billions in yearly revenue, it’s anyone’s guess how she was able to keep her success under wraps for so long.

After declining one interview with Forbes magazine, she was asked if she set out to change health care. Her priceless reply focuses on one very important part of running a successful business, the customer. Faulkner’s response was:

“I was a programmer, I thought it was fun. I’m not sure in the beginning I felt that I’m here to save lives. Why do you come to work? For the paycheck? For something interesting to do? For customers? For the competition? For the mission? If I had to circle one reason, it’s for my customers.”

Entrepreneur Advice From Elon Musk

The founder of Tesla, SpaceX, The Boring Company, and more, Elon Musk is no stranger to starting a new company from the ground up. And while he’s been seen as a controversial leader at times, there’s no denying that Musk dreams big and is willing to tackle what often seem like impossible problems. This has led him to amass a net worth of over $19 billion.

His entrepreneur advice is somewhat unconventional, which is appropriate for this often unconventional businessman.

“I think it’s very difficult to start companies, it’s quite painful. A friend of mine has a good phrase for doing a startup: It’s like eating glass and staring into the abyss. If you are wired to do it, then only do it, not otherwise. So think of it this way—if you need inspiring words, DON’T DO IT!”

By that, he means if you’re not ready to become an entrepreneur and completely dedicate your life to it, maybe it’s not the right move for you right now. There’s no denying Musk brings passion to all of his projects, and if you take anything away from his entrepreneur advice, it’s that you’ll need to have a similar mindset.

Entrepreneur Advice From Kris Jenner

In the entertainment world, there are few names as popular as “Kardashian.” Much of the success the Kardashian and Jenner women have found over the last decade or so is due to the matriarch of the family, Kris.

Whether you like reality television or can’t stand it, it’s hard to deny the success Kris Jenner has made for herself and her family. She’s constantly supporting her daughters on social media and looking for the next deal or venture for them to work on.

In an interview with her eldest daughter Kourtney, Jenner dropped some entrepreneur advice and said one of the most important things she’s learned is to find what you really enjoy and stick to it.

“Anything is possible,” she says. “Really truly find something that you love to do and then figure out how to make that into an amazing career, because that’s going to be so easy. When you try to fit into a mold that you don’t really belong in, you don’t really love or appreciate, you’re not passionate about it. I think that that’s going to be harder to do and excel at.”

For her, what she loves is her family and she found a way to make her career something that allows her to work closely with them on a daily basis.

Entrepreneur Advice: The Final Word

These successful entrepreneurs did one of the hardest things someone in business can do, they took a chance on themselves and asked others to do the same. A lot can be learned from the most famous entrepreneurs of our time. Take the entrepreneur advice shared here to heart and start applying the wisdom of people who have “been there and done that” to your own business practices. It could very well be the entrepreneur advice you need to make your endeavor equally successful.

Whether it’s creating a well-oiled pop culture machine or making actual machines like the latest smartphone, these entrepreneurs devoted their lives to their business endeavors.

Many of them would advise you to do the same with something you’re passionate about and love, while others will urge you to find what is driving you to become an entrepreneur and then serve that. Take their advice and apply it to your business—you never know where you might end up.

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Meredith Wood

Meredith Wood

Editor-in-Chief at Fundera
Meredith Wood is the editor-in-chief at Fundera. She has specialized in financial advice for small business owners for almost a decade, and is sought out frequently for her expertise in small business lending. Meredith’s advice has appeared in the SBA, SCORE, Yahoo!, Amex OPEN Forum, Fox Business, American Banker, Small Business Trends, and more. Email: meredith@fundera.com.
Meredith Wood

Latest posts by Meredith Wood (see all)

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