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Four Newsworthy Success Stories

(10/31) Markets can be intensely competitive with companies constantly rising and falling. If you want to succeed in the business world, it’s a wise idea to study the business greats who have already found success. Whether it has to do with stock investing or retail. With that in mind, let’s go ahead and go over some of the greatest business minds of the last century.

Steve Jobs--From Hero to Zero and Back Again

Steve Jobs was one of the most influential businessmen of both the 1980’s and the 2000’s. Ultimately, Jobs was a story of early success and hubris paving the way for failure, and then finally redemption.

Jobs was one of the early visionaries of the home computer industry. The early Apple computers he created sold well, but Jobs was also known for being arrogant and dismissive. This ultimately cost Jobs his career, and he was forced out of Apple Inc.

Jobs went on to found NeXT, another computer company. Both NeXT and Apple would flounder through the 90’s, until Steve Jobs returned to Apple in 1997. Jobs would reposition Apple as a consumer electronics company.

Jobs learned from his failures, becoming a less bombastic boss. Apple then went from being a penny stock to becoming the most valuable company in the world.

Warren Buffett- Don’t Focus on Revenge, Focus on Success

Warren Buffett is perhaps the most successful investor in history. Buffett is famed for his value investing model, which focuses on finding undervalued stocks and investment opportunities. Still, even Buffett makes mistakes.

Buffett has stated that Berkshire Hathaway itself was his worst investment. Berkshire was once a struggling textile mill. Buffett and Berkshire’s CEO ended up in a squabble over a tender price.

As a result, Buffett bought Berkshire Hathaway simply so he could fire the CEO.
Buffett believes his thirst for revenge may have cost him as much as $200 billion in missed opportunities. However, Buffett also learned a valuable lesson, and going forward the Oracle of Omaha focused strictly on business.

This helped him become one of the richest people in history.

Jeff Bezos - Leaving Wall Street Behind for the Unknown

Jeff Bezos already had a successful career in finance and IT when he came up with the idea for Amazon. At the time, Bezos was a successful young professional, but he wanted something more. Bezos realized that the Internet was going to be huge.
Bezos packed up his life in New York City, quit the hedge fund he worked for on Wall Street and moved to Seattle. He launched Amazon out of his garage, first selling books and other easy-to-ship items.

Amazon has since grown to become one of the largest retailers in the United States and Bezos one of the richest individuals in the world.

Sam Walton--Success Requires Passion

Sam Walton outlined 10 rules for business success. We’re only going to talk about the first rule because it’s arguably the most important one: Commit to your business.

What does that actually mean? Believe in your business more than anyone else. Overcome personal shortcomings and business challenges with pure passion and hard work.

Walton participated in an intensely competitive market. Yet, he was able to build one of the world’s largest retailers through dedication and passion.
If you study the other people mentioned on this list, you’ll see that passion was a common element.

Final Thought

There’s no surefire recipe for business success. However, the greatest business people were driven by passion, learned from their mistakes and paid attention to detail.