hi I’m Evan Carmichael and welcome to
another edition of Melinda monsters I
believe that the fastest and most
effective way to grow a business is to
model the strategies of people who have
already done what you’re trying to do so
today I’m going to look at how a young
entrepreneur followed his passion for
computers and in one weekend created the
code for a new website that would go on
to be one of the most popular websites
in the world this is the story of ebay
founder pierre omidyar and atop three
lessons that you can learn from his
success pierre omidyar is an American
entrepreneur and philanthropist
economist and the founder chairman of
ebay growing up he became fascinated
with computers and often skip gym class
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 labor day long
weekend and wrote the original code for
ebay originally called auction web
Omidyar wanted to change the name to
echo bay and drive to Sacramento to
register the name when he arrived he
found echo bay was already registered so
we decided to go with ebay on the spot
instead of having to make a return trip
today eBay has revenues of over 9
billion dollars and Omidyar serves as
its chairman he has an estimated net
worth of 6.7 billion dollars making him
the 50th richest person in the world and
it all began with one long weekend
writing code and launching a new website
by following his passion and computers
and by actually taking action on the
idea that he had Pierre Omidyar was able
to build one of the most successful
companies in his industry to help you
make your company more successful here
are three a chronology you can learn
from Pierre Omidyar action item number
one just go for it you know what one
thing every successful entrepreneur has
in common they got started you may have
great business ideas but if you never
take action on them you have nobody but
yourself to blame don’t be afraid to try
something different and fail you will
know failure keep trying and
experimenting with little projects until
you strike gold and can really run with
your new business idea Omidyar had a lot
of people who never thought his website
would ever take off why would complete
strangers be willing to buy and sell to
each other online how would they trust
each other to complete the deal holman
dr believed that people were
fundamentally good people and would be
for the most part honorable he kept at
it and intended to prove his critics
wrong when we do I realized it was
working when he started earning more
money from ebay than from his day job
according to Omidyar i started ebay as
an experiment as a side hobby basically
while i had my day job a lot of people
don’t just go ahead and try things
they’ll have an idea and they’ll say
they’ll convince themselves or other
people will convince them that it can’t
be done I just kind of had this naive
approach to well gee you know why not
I’ll just go ahead and do it don’t let
people who you may respect and who you
believe know what they’re talking about
don’t let them tell you it can’t be done
because often they’ll tell you it can’t
be done and it’s just because they don’t
have the courage to try you’re able to
accomplish anything you set out to
accomplish
action item number two follow your
passion almost every famous entrepreneur
gives similar advice do what you’re
passionate about when you love what you
do you’ll make a far better product or
service and will have a much bigger
impact on your target market don’t waste
time trying out businesses that you’re
not really interested in just because
they can make you money focus your
energy and talent on what you’re
uniquely able to create and you’re on
your way to building a successful
business from the time he was a young
boy Omidyar knew that his future
lighting computers he didn’t know how or
when but when the other boys were
outside playing sports Oh media was busy
teaching himself computer programming
languages like basic if he didn’t follow
his passion and tried to force
themselves into other areas that didn’t
interest him the world would never have
come to known eBay according to Omidyar
I always wanted to be involved with
computers I was just pursuing what I
enjoy doing I was pursuing my passion
it’s not work really if you’re having
fun that was the case with me you have
to really believe in what you’re doing
be passionate enough about it so you’ll
put in the hours and the hard work that
it takes to actually succeed there and
then you’ll be successful action item
number three be nice a lot of people
think the business is cutthroat but it
doesn’t have to be when I hire people
one of the core values that we look for
is is this person nice it’s amazing how
much more productive you are and how
much more fun you have when you enjoy
working with the people around you your
staff your customers and your suppliers
Omidyar founded ebay with the belief
that nice guys finish first he created a
set of core values for the business
based on honesty and building trusted
relationships he also believed that if
his company could live by those core
values and they would attract customers
who felt the same way to date his theory
has proven to be correct there are only
30 out of every million transactions
that happened on ebay where people file
a fraud complaint according to Adyar I
founded the company on the notion that
people were basically good
and then if you give them the benefit of
the doubt you’re really disappointed
nice guys a responsible company that has
its heart in the right place that’s run
by real human beings it has to be
successful because if we weren’t that
way ebay wouldn’t be successful ebay
wouldn’t exist it wouldn’t be possible
so remember just go for it follow your
passion and be nice to finish up this
video I wanted to share one of my
favorite true stories about Pierre
Omidyar and some of his best quotes ebay
was originally hosted on a website that
amiga 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 only dr hope that the
transaction fees would eventually be
enough to cover his website hosting
costs
thank you for joining me for another
edition of modern masters if you guys
liked the video please leave a comment
below I love hearing your thoughts and
feedback and it also really appreciate
any thumbs up so you want to get to the
video and stay tuned to the next episode
you
another edition of Melinda monsters I
believe that the fastest and most
effective way to grow a business is to
model the strategies of people who have
already done what you’re trying to do so
today I’m going to look at how a young
entrepreneur followed his passion for
computers and in one weekend created the
code for a new website that would go on
to be one of the most popular websites
in the world this is the story of ebay
founder pierre omidyar and atop three
lessons that you can learn from his
success pierre omidyar is an American
entrepreneur and philanthropist
economist and the founder chairman of
ebay growing up he became fascinated
with computers and often skip gym class
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 labor day long
weekend and wrote the original code for
ebay originally called auction web
Omidyar wanted to change the name to
echo bay and drive to Sacramento to
register the name when he arrived he
found echo bay was already registered so
we decided to go with ebay on the spot
instead of having to make a return trip
today eBay has revenues of over 9
billion dollars and Omidyar serves as
its chairman he has an estimated net
worth of 6.7 billion dollars making him
the 50th richest person in the world and
it all began with one long weekend
writing code and launching a new website
by following his passion and computers
and by actually taking action on the
idea that he had Pierre Omidyar was able
to build one of the most successful
companies in his industry to help you
make your company more successful here
are three a chronology you can learn
from Pierre Omidyar action item number
one just go for it you know what one
thing every successful entrepreneur has
in common they got started you may have
great business ideas but if you never
take action on them you have nobody but
yourself to blame don’t be afraid to try
something different and fail you will
know failure keep trying and
experimenting with little projects until
you strike gold and can really run with
your new business idea Omidyar had a lot
of people who never thought his website
would ever take off why would complete
strangers be willing to buy and sell to
each other online how would they trust
each other to complete the deal holman
dr believed that people were
fundamentally good people and would be
for the most part honorable he kept at
it and intended to prove his critics
wrong when we do I realized it was
working when he started earning more
money from ebay than from his day job
according to Omidyar i started ebay as
an experiment as a side hobby basically
while i had my day job a lot of people
don’t just go ahead and try things
they’ll have an idea and they’ll say
they’ll convince themselves or other
people will convince them that it can’t
be done I just kind of had this naive
approach to well gee you know why not
I’ll just go ahead and do it don’t let
people who you may respect and who you
believe know what they’re talking about
don’t let them tell you it can’t be done
because often they’ll tell you it can’t
be done and it’s just because they don’t
have the courage to try you’re able to
accomplish anything you set out to
accomplish
action item number two follow your
passion almost every famous entrepreneur
gives similar advice do what you’re
passionate about when you love what you
do you’ll make a far better product or
service and will have a much bigger
impact on your target market don’t waste
time trying out businesses that you’re
not really interested in just because
they can make you money focus your
energy and talent on what you’re
uniquely able to create and you’re on
your way to building a successful
business from the time he was a young
boy Omidyar knew that his future
lighting computers he didn’t know how or
when but when the other boys were
outside playing sports Oh media was busy
teaching himself computer programming
languages like basic if he didn’t follow
his passion and tried to force
themselves into other areas that didn’t
interest him the world would never have
come to known eBay according to Omidyar
I always wanted to be involved with
computers I was just pursuing what I
enjoy doing I was pursuing my passion
it’s not work really if you’re having
fun that was the case with me you have
to really believe in what you’re doing
be passionate enough about it so you’ll
put in the hours and the hard work that
it takes to actually succeed there and
then you’ll be successful action item
number three be nice a lot of people
think the business is cutthroat but it
doesn’t have to be when I hire people
one of the core values that we look for
is is this person nice it’s amazing how
much more productive you are and how
much more fun you have when you enjoy
working with the people around you your
staff your customers and your suppliers
Omidyar founded ebay with the belief
that nice guys finish first he created a
set of core values for the business
based on honesty and building trusted
relationships he also believed that if
his company could live by those core
values and they would attract customers
who felt the same way to date his theory
has proven to be correct there are only
30 out of every million transactions
that happened on ebay where people file
a fraud complaint according to Adyar I
founded the company on the notion that
people were basically good
and then if you give them the benefit of
the doubt you’re really disappointed
nice guys a responsible company that has
its heart in the right place that’s run
by real human beings it has to be
successful because if we weren’t that
way ebay wouldn’t be successful ebay
wouldn’t exist it wouldn’t be possible
so remember just go for it follow your
passion and be nice to finish up this
video I wanted to share one of my
favorite true stories about Pierre
Omidyar and some of his best quotes ebay
was originally hosted on a website that
amiga 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 only dr hope that the
transaction fees would eventually be
enough to cover his website hosting
costs
thank you for joining me for another
edition of modern masters if you guys
liked the video please leave a comment
below I love hearing your thoughts and
feedback and it also really appreciate
any thumbs up so you want to get to the
video and stay tuned to the next episode
you
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