The Model Entrepreneur: Becoming the Next Business Titan

Titan Electric Becomes Mr. Electric
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Dell, Google, Microsoft and Walmart are some examples of American companies whose founders climbed to the top of their respective fields, and then promptly turned right back around to help the next generation of entrepreneurs coming up behind them.

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While it may seem a bit counterintuitive for major companies to fund their future competitors, the practice can be beneficial for both groups. The computer technology company, founded by Michael Dell in his college dorm room, mostly worked with smaller businesses in the early years before it found success selling directly to consumers in the s. As a company, Dell has also taken an active role in promoting small businesses and recently partnered with D.

The Men Who Built America: Traits of a Titan - History

The company also runs the Dell for Entrepreneurs program, which provides innovators in the U. Sam Walton launched his iconic company in his home state of Arkansas in Its initiatives cover a wide range of opportunities, including the Get On The Shelf program. The crowdsourcing competition requires businesses and product developers submit videos highlighting their products, which are then screened by Walmart executives and put up to a popular vote, with five winning products chosen at the end.

Who | Gathering of Titans

The company is also dipping its toes into tech with Walmart Labs —a startup-like arm of the company that looks for disruptive technologies in the retail space. Life can be much broader once you discover one simple fact: Everything around you that you call life was made up by people that were no smarter than you and you can change it, you can influence it, you can build your own things that other people can use.

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Once you learn that, you'll never be the same again. Related: 7 Characteristics of Inspiring Leaders.

1. Solve a problem and know your business inside out.

We are often taught that this is all there is to life, to raise a family and maybe save a little money -- while having as much fun as we can. All you really need is the desire and the drive and the belief that you can do anything you put your mind to. Fear should guide you, but it should be latent. I consider failure on a regular basis.

Titans of Franchising Reveal Their Secrets for Long-Term Success

This basic concept advises that you should allow fear to be a compass, but not an overwhelming factor in your business decision. Mark Zuckerberg discovered early on how to build a successful business and that, according to him, is by not trying to build a successful business, so to speak. If you want to make something successful, look for a problem and then solve the problem. If we listened to all the negative feedback, we would never have built things.

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Believe in yourself and in your idea and go about making it work, regardless of what anybody says. We are internally driven to improve our services, adding benefits and features, before we have to.

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We lower prices and increase value for customers before we have to. We invent before we have to.

These investments are motivated by customer focus rather than by reaction to competition. When others are raising their prices, Amazon looks to how it can lower prices. While other businesses are happy with the status quo, Amazon is always reinventing itself, finding ways to make themselves better, to better serve their customers and clients.