Today, you’ll learn how to use AI to save time and help more clients achieve results. (Plus, I’ll also share when you shouldn’t rely on AI.

Ready? Here’s how to use AI for coaches.

What are the benefits of using AI in your coaching business?

Artificial intelligence, or AI, can help run and grow your coaching business by helping you: 

• Manage your time
• Get data-driven insights 
• Scale your business

Let’s look at each of these. 

Manage your time

Above all, it saves you valuable time by automating administrative tasks.

AI-powered scheduling tools like Motion simplify managing your calendar and eliminate all the back and forth.

Get valuable insights

Another benefit of AI for coaches is getting valuable insights that make your coaching more effective.

With a tool like Otter.ai, you can transcribe client sessions to analyze and identify patterns and areas for improvement. 

But you can do more with that data than just helping individual clients. 

The information you gather will help you find new ways to improve your coaching, business decisions, and marketing efforts.

Scale your business

Finally, AI for coaches makes it easier to scale your business and grow your client base without compromising quality.

For example, tools like Sana can engage with clients and answer frequently asked questions.

However, I do want to caveat before getting into any tools that you shouldn’t rely on AI.

AI isn’t perfect and things like the content it creates is very generic. 

AI also doesn’t have intrapersonal or creative skills. 

So look at AI more as a helpful tool than something to outsource your entire business to.

Here’s what I mean: 

Now that we’ve covered the benefits of AI for coaches, let’s talk about the best tools.

6 best AI coaching tools

There are hundreds of AI tools on the market – and the industry keeps growing.

So how do you choose one?

By thinking about what you need, whether it’s help with writing, managing administrative tasks, or something else entirely.

Here are some of my favorite AI tools for coaches.

ChatGPT

ChatGPT instantly creates responses based on the input it receives.

For instance, when I asked it to define coaching, I got this response in seconds:

“Coaching is about having someone by your side who listens, asks questions, and helps you reach your goals, whether they’re personal or professional.”

ChatGPT can create new client materials, brainstorm blog ideas, access coaching frameworks, or generate marketing content.

And much more. 

But here’s the catch.

The quality of the answers you get depends on your prompt. The more engaging it is, the better the response.

So make sure yours are clear and detailed, ask specific questions, and provide context. 

Let’s say I was looking for help creating a new assessment tool for my clients. I would use a prompt like this:

“Develop a set of thought-provoking questions for my assessment tool, aiding clients in identifying strengths and areas for growth in personal and professional areas. Questions should encourage reflection on achievements, challenges, skills, and aspirations to facilitate insights into development needs.”

This prompt is effective because it communicates what I’m looking for and offers guidance on the content I need.

Here’s what it gave me:

However, even if you use specific prompts, ChatGPT will only be able to generate a response based on responses already available.

To create truly great work, you need to sit down and improve its answer with your own personal experience and personality.  

Try it

DALL-E

At first glance, an image generator like DALL-E might not seem like an AI for coaches.But every coach needs engaging visuals.

They help you stand out, attract new clients, and keep your current audience engaged.

DALL-E can create any type of image, including social media posts, coaching aids like infographics, and branding materials.

Like ChatGPT, the images you get from DALL-E depend on your prompt. The more specific, the better.

But here’s the thing.

While DALL-E is an inherently creative tool, its knowledge is limited to everyday objects and specific situations.

So, when you write your prompt, remember to keep your requests within the realm of possibility.

For example, let’s say you wanted DALL-E to create your social media posts.

A great prompt would be:

“Design compelling visuals for my coaching business’s social media. Include growth, empowerment, and positivity themes that resonate with our audience and reflect personal development and self-discovery. Images should be high-resolution and suitable for all social media platforms.”

Then, you also have to specify what types of images you want, for what platform, and their sizes. 

This type of prompt works because it’s specific.

Try it

Otter.ai

Otter is the kind of AI for coaches that allows you to focus entirely on sessions instead of worrying about taking notes.

How?

By converting your conversation into text in real-time, taking valuable notes, and even creating a list of action items.

It will also provide you with a full transcript and a summary that touches on key points at the end of each session.

It’s great for more than one-on-one coaching calls, though. It’s also a great tool for workshops, live online courses, team meetings, and group coaching.

Plus, you can use this tool to improve your coaching. 

By studying the summaries, notes, and transcripts, you’ll be able to identify your coaching patterns, refine your techniques, and find areas to improve.

The best part? Otter.ai will automatically join your Zoom, Google Meet, and Microsoft Teams calls.

Try it

Jasper

Jasper is an AI writing assistant that can help you write website content and blog posts, create worksheets and exercises, and generate headlines or social media posts.

It also has a functionality to improve what you’ve already written, generate blog post ideas if you’re stuck, and optimize your content for SEO.

But here’s what really stands out about Jasper.

If you’re having trouble writing a prompt, its prompt library has over 500, including:

• Create a landing page that captures the attention of my [target persona] and drives them to take [desired action] by utilizing persuasive language, compelling visuals, and a clear call to action.
• Generate a headline that summarizes the benefits of [product/service] for [target audience].
• Can you help me write an email newsletter for my business, targeting [target audience] and promoting our new service [service name]?

There are also 50+ AI templates available.

Try it

Happy Scribe

Happy Scribe converts audio and video into editable text using speech recognition technology.

Sure, this might not seem like a necessary type of AI for coaches at first glance, but there are several ways to use it in your business.

You can transcribe coaching sessions, repurpose content from presentations or courses, or add captions to your videos to enhance accessibility.

Like Otter.ai, it allows you to reflect on your coaching sessions and gain new insights into your style, interactions, and techniques.

Upload your audio file, video, or URL on Happy Scribe, and it will automatically transcribe it in minutes. 

Try it

InVideo

InVideo is the go-to AI for coaches looking to create videos that connect with clients in an engaging way.

It can turn text prompts into videos, edit videos, make slideshows, create faceless videos, and even write scripts.

You can also clone your voice for more personalized narration. 

But why does that matter for coaches?

Because it can be used to create videos used for social media, marketing, and more. 

There’s no software to download, either. Just write prompts that outline the video type, duration, platform, language, and desired tone.

And if you need to edit it, you can do it manually or by entering another prompt.

Try it

Now that you know what the best AI tools for coaches are, let’s discuss the dos and don’ts of using it in your business.

How to use AI in your coaching business

Here’s the thing about AI for coaches.

You can use it for many things in your business. But not everything.

Let’s start with what it can help with.

Ways to use AI in your business 

Here are some of the best ways to use AI for coaches: 

• Chatbots: Putting an interactive, AI-powered chatbot on your website is a great way to engage with visitors, help them quickly get answers to the most frequently asked questions, and provide basic coaching information.
• Virtual assistants: Virtual assistants will help free up your time by automating administrative and repetitive tasks like scheduling appointments, sending reminders, and managing client communication.
• Content creation and personalization: You can use AI for content creation and personalization in two ways. The first is to help brainstorm and generate blog posts, articles, and social media content that will drive interest in your services. It can also help create the kind of personalized content and tools that will help your clients reach their goals more quickly. That includes things like coaching plans, goal-setting frameworks, and progress-tracking templates. 
• Data analysis: AI makes analyzing client data like assessments and transcripts easier, which helps you identify patterns and better anticipate their needs or overcome roadblocks. But it can also help you find ways to improve your coaching techniques.
• Voice analysis: Being able to gauge a client’s tone, sentiment, and emotional state during a coaching session provides clear insight into their mindset. Having that sort of understanding will empower you to change your coaching approach as needed and ultimately make your coaching more effective.
• Accessibility: Using AI-powered language translation can be a great way to support clients from different backgrounds. Plus, offering transcripts or captions can help clients who might have difficulty hearing.
• Skill development: AI tools can help you create personalized skill development tools, resources, and interactive modules that support each client’s journey.

How not to use AI in your business

While the benefits of AI for coaches are great, it’s important not to become reliant on it.

Here are a few things to remember about AI for coaches.

AI isn’t a replacement

Remember what makes coaching special: the personal connection between you and your client.

AI can’t replace that (or even replicate it).

Because no matter how good a tool’s answers or suggestions are, it can’t offer the empathy or understanding that are so crucial to coaching.

AI for coaches should foster that connection rather than replace it.

AI is biased

At the end of the day, AI is the data it’s been trained on.

If there’s any bias in that data, it could impact the answers it gives you. 

For example, if the training data is skewed toward specific demographics, it might discriminate against others.

So keep a close eye on recommendations and ensure they’re fair. Otherwise, AI could harm rather than help your clients’ progress.

AI isn’t always safe 

Look, I know the assessments, notes, and feedback AI provides are hugely helpful.

But your clients trust you to help them while safeguarding their privacy.

And the reality is their data and privacy aren’t always safe in the hands of AI tools. A company could suffer a data breach or even sell it.

Maintain client trust

Honesty is a two-way street in a client-coach relationship, so you need to be transparent about using AI for coaches in your own business.

That includes explaining why you’re using it, how it enhances coaching, and the steps you’re taking to keep their information safe.

This is the only way clients will be able to give informed consent.

And, if at any point they want you to stop using AI, you’ll need to withdraw and delete their data immediately.

With all of this in mind, what does the future of AI for coaches look like? 

Keep reading to find out!

What is the future of coaching with AI? 

Ultimately, the future of AI lies in how it complements rather than replaces coaches.

Only you have the experience, creativity, and empathy needed to be a great coach in your niche.

AI should amplify those qualities.

So, look at it as a means of becoming a better coach. 

If you embrace AI to elevate your skills and unique coaching approach, you’ll create more long-lasting, mentor-like connections with each client.

I talk more about why AI isn’t going to take over your business anytime soon: 

What’s next? 

There you have it!

A complete guide to AI for coaches.

Are you ready to create a six-figure coaching business using AI for coaches?

I’ll show you how in this free PDF: 

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

Get Instant Access To My FREE Ultimate Guide Below!

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Read more:

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The post AI for Coaches: The 6 Best Tools to Use in Your Business appeared first on Luisa Zhou.

You’re tired of your 9-to-5. 

In this article, you’ll learn the best solopreneur ideas of 2024 that can help you do things like:

• Quit your boring desk job
• Travel whenever you want
• Make more money than you ever thought possible

Let’s get started!

What is a solopreneur?

A solopreneur is an entrepreneur who runs their business on their own. In other words, they’re in charge of everything – from creating their offer to marketing their business.

They can be freelancers, consultants, coaches, ecommerce owners… You name it. 

And they’re no small group: 

According to Statista, freelancers will account for over 50% of the US workforce by 2027.

For example, I run my own business as a one-person business. 

I’m the only employee – but I have a team of contractors who help me build my business. 

I started my business to get out of my 9-5 job. And today, it takes me a few hours to run every week – while I focus on my other businesses and spending time with my family (my husband Stephen and our beloved German Shepherd, Falco). 

Okay, now that we know what being a solopreneur means, let’s talk about how you can become one.

The best one-person business ideas in 2024

Depending on your skills and interests, there are plenty of ideas that you could turn into a thriving business. 

Here are my top recommendations.

1. Coaching 

As a coach, your role would be to guide your clients to help them reach their specific goals. 

And since people have all sorts of different goals, there are a lot of niches to choose from.

Example: 

My student Ruby runs a six-figure relationship coaching business to help quality guys find quality women.

Another client, David, helps people lose weight using herbs.

So, bottom line here: 

If you want to make a big impact while earning great money, coaching is the best business model to choose as a solopreneur. 

You don’t need a fancy website or expensive certification to get started. 

What you really need is an offer that people are willing to pay for.

How do I know? Because I’ve scaled my coaching business to eight figures myself. 

I’ve also helped thousands of students start successful coaching businesses, so I know what works and what doesn’t. 

Start here: 100 High-Ticket Life Coaching Niches

2. Consulting

Coaching and consulting are similar in that advice is important to both. 

But here’s one way they differ: 

As a coach, you’d work with your clients to help them reach their goals – rather than doing everything for them. 

As a consultant, though, your role would be to evaluate a problem and create a plan to solve it. 

For example, a company might hire a consultant to find out why sales are down and address the root cause. 

Think of it this way… 

Consultants focus on solving a particular problem – versus helping a particular client.

Sound interesting? 

First, identify a hole in the market that you could fill. 

And remember: 

Like with coaching, offering results is much more important than having a perfect website or years of experience.

Start here: How to Become a Successful Consultant

3. Course creator

As a course creator, you’d make courses to educate people about a topic and help them solve their problems. 

For example, one of my courses is called Clients Come to Me, and it helps a specific market segment (entrepreneurs) solve a specific challenge they have (having to hustle to get clients).

That’s just an example, though. 

You could create a course about virtually anything.

Don’t know what to choose? 

Ultimately, you should know enough about a topic that you can offer great value. 

If you can deliver on your promises and there’s an audience for what you want to offer… you’re on the right track.

Start here: How To Create an Online Course

4. Graphic designer

Graphic designers can be in charge of creating a wide range of visuals for clients, from logos to social media content. 

Okay, but maybe you’re thinking:

“Luisa, that sounds interesting, but… I don’t have a degree in graphic design.”

Don’t worry – you don’t absolutely need one.

What you SHOULD have is experience using common graphic design tools, like InDesign, Adobe Photoshop, and Adobe Illustrator. 

You should also know about design theory and how to use things like proportions, colors, and fonts effectively.

Start here: How to Become a Graphic Designer Without a Degree: A First-hand Account

5. Blogging

If you’re a good writer and like the idea of building an audience through your own website, consider blogging. 

You might not realize this, but… blogging is STILL an incredibly effective tool for influencing people and driving traffic. 

In fact, according to LinkedIn, 77% of internet users read blogs. 

And keep in mind…

You don’t need an advanced degree to be a good blogger.

Effective blogging is all about creating engaging, informative content that your target audience actually wants to read. 

For that, you should know how to write effectively and use your personality to connect with people. 

Start here: ​​How to Start a Blog: 12 Super Simple Steps for Beginners

6. Freelance writing

Freelance writing means writing content for clients without being a salaried employee. 

Depending on who you work with, you could write a variety of different types of content, including articles, newsletters, and ebooks. 

What’s great about going freelance is that you can choose your clients and what types of projects you want to take on. 

Another perk? You can work from anywhere, which gives you huge freedom.

Ultimately, if you want to become a great freelance writer, the key is to practice. 

Even if you don’t have any clients yet, you can still write and publish content on platforms like Medium for your portfolio.  

Start here: How to Become a Freelance Writer From Scratch (Complete Guide)

7. Virtual assistant 

As a virtual assistant (VA), you’d support a business or busy professional with business-related tasks.

So, for example… 

If you worked for a CEO, you might be in charge of things like organizing their schedule and setting their appointments. 

Or, you might do things like social media management and customer service… It depends on your interests and your client’s needs.

Because there are all kinds of industries and professionals who need VAs, first decide what services you want to offer. 

Niching down will help you stand out and land clients faster.

Start here: How to Become a Virtual Assistant | Coursera 

8. Content creation (podcasting and video)  

We’ve already covered blogging as one form of content creation, but there are others. For example, podcasts and videos are highly engaging forms of content. 

How engaging? 

Quick example: According to research, the average American listens to eight podcasts a week. 

And video content is also wildly popular. 

Which means? Depending on what your niche is, you could become a successful solopreneur through content creation.

To get started, think about what audience you want to attract, and research your competition. 

You don’t need any formal training to become a content creator, but you should know whether there’s a demand for what you want to offer.

Start here: 

How To Start A Podcast And Make Money – Forbes Advisor 

How To Become A Successful Video Content Creator – Insights From KallmeKris 

9. Web designing

As a web designer, you’d make websites pretty and easy to use. 

Sound like something you’d love to do?

Good news: According to the Bureau of Labor Statistics, the field is expected to grow by 16% in the coming years – much faster than average.  
To get your foot in the door, learn about things like user experience (UX) and visual design. It can also help to learn basic HTML and CSS for small website tweaks.

Start here: What Does a Web Designer Do (and How Do I Become One)? | Coursera 

10. Affiliate marketing

Affiliate marketing means promoting a business’s product or service in exchange for a commission. 

Example: Let’s say you have an interior design blog that gets a lot of traffic. 

In that case, you could partner with a furniture business, talk to your audience about that company, and earn a cut of the sales you drive.

Technically, anyone can become an affiliate marketer. But if you want to make it a significant source of passive income, start by building an audience that you can market to first. 

Start here: The Ultimate Step-by-Step Guide to Becoming an Affiliate Marketer 

11. Mobile app development

Love technology? 

Good news: Building apps can be incredibly lucrative. In some cases, you could make six figures for a single app. 

As a developer, you could either build apps for clients or build and monetize your own apps through subscriptions or ads.

Before getting started, though, be sure to learn the programming languages you’ll need, like Swift and JavaScript. 

It can also help to contribute to open-source projects, get internships, and network effectively.

Start here: How To Become A Mobile App Developer [In-Depth Guide] 

12. Event planning

As an event planner, you’d be in charge of organizing events, from brainstorming activities to coordinating with venues and making sure things run smoothly the day of. 

For example, you could organize business events, weddings, parties, and so on. 

If you have strong organizational skills and work well under pressure, this career could be an ideal choice. 

One way to get your foot in the door? 

Offer to volunteer for an established event planner. Once you have experience and references, that can help you start your own business. 

Start here: What Is an Event Planner? How to Become One, Salary, Skills. | Built In

13. Copywriting 

Copywriters produce content with one specific goal: To make sales. So, for example, copywriters can write things like:

• Promotional emails
• Landing pages
• Product descriptions

…And much more.

As a copywriter, your job would be to offer results. Remember: If you can offer results, you can charge a lot because you’re WORTH a lot.

The key is to practice. 

Once you get some experience under your belt, you’ll be able to apply to jobs on sites like Upwork, get reviews, and increase your rates. 

Start here: Copywriting 101: How to Become a Copywriter [Free Guide] 

14. Photographer

As a photographer, you can earn great money, have a flexible schedule, and decide what kinds of clients you want to have. 

For example, if you work well under pressure, consider becoming a wedding photographer: You can charge high rates and work less during the off-season.

But there are all kinds of different niches you could choose from, including commercial, fashion, and portrait photography. 

To get started, familiarize yourself with the professional camera and tools you’ll need, like Adobe Lightroom and Photoshop. 

You can also take courses to help you gain essential skills you’ll need as a photographer.

Start here: How to Become a Professional Photographer 

15. Dog walking 

If you love animals, becoming a professional dog walker could be a great way to become a solopreneur. 

These days, a lot of people have dogs but don’t necessarily have time to walk them every day.

That’s where you’d come in. 

To get started, contact your local animal shelter or veterinarian to let them know you offer dog walking services. 

If you don’t have any experience yet, offer to walk friends’ dogs and use the reviews you get to land paying work.  

Start here: How to Become a Dog Walker: Step-By-Step Guide | Hepper 

16. Social media management 

As a social media manager, you’d run a business’s social media strategy to engage with its target market and expand its reach.

To succeed in this role, you should be creative and stay up-to-date on the latest trends.

Don’t have any experience yet? Don’t worry, there are plenty of courses you can take to give you a good foundation. 

Start here: How to Become a Social Media Manager – A Complete Guide 

17. Selling craft goods

If you love creating things, selling your craft goods can be a perfect way to become a solopreneur. 

You can sell online using your own website, open a shop on a platform like Etsy, or take part in in-person events like craft fairs to sell your creations.

Start here: 10 Things You MUST Do to Have a Successful Online Craft Business | Create & Thrive 

18. Personal training

As a personal trainer, your role would be to help people improve their health through better diet and exercise. 

To set yourself up for success, get a certification that’s accredited by the National Commission of Certifying Agencies (NCCA). 

A few examples include the American Council on Exercise (ACE), the National Academy of Sports Medicine (NASM), and the International Sports Sciences Association (ISSA).

Once you’re certified, it’ll be easier to find work in a variety of different settings, like gyms and wellness centers. 

Start here: How to Become a Personal Trainer (Next Steps + Requirements) 

19. Tutoring

Tutoring someone means helping them improve in a certain subject area or skill set. For example, as a tutor, you could give kids math lessons to supplement what they learn in school.

One advantage of tutoring? You can offer your services in-person or online, which broadens your reach. 

To get started, make sure you know enough about a subject to be able to explain concepts in simple terms. This is especially important if you work with children.

Start here: How to become an online tutor: A step-by-step guide from Preply 

20. Home repair services

If you’re good at fixing or building things, offering home repair services can be a lucrative way to become a solopreneur. 

For example, you could specialize in fixing appliances (think washing machines or dishwashers) or work on carpentry projects instead.

Before setting up shop, find out what licensing requirements exist in your state, if any. 

Start here: How to Start a Home Repair Business in 5 Easy Steps | Handyman Startup 

21. Ecommerce business

As an ecommerce solopreneur, you could sell products online through a variety of platforms, from social media apps to e-commerce sites like Shopify. 

Before getting started, though, research your idea and see if there’s a demand you could fill. You’ll also want to stay up-to-date on trends. 

Remember: If you offer what people are actively looking for, that’ll make sales a LOT easier.

Start here: How To Start an Ecommerce Business: Shopify Guide 

22. Cleaning services

Cleaning is an essential service. 

Which means? 

By starting a cleaning business, you could choose virtually any niche: from house cleaning to corporate settings. 

And though there’s no right or wrong way to go here, identifying your target audience will help you market directly to them. 

For example, if you’re targeting retirees, they might not have the same expectations as a big corporation. So, before getting started, find out what your chosen demographic wants. 

Start here: How To Start A Cleaning Business (Guide) – Forbes Advisor 

23. Marketing strategy services 

Being a marketing strategist is all about developing efficient ways to help businesses reach their marketing goals. 

But you might be thinking, “Isn’t that what a marketing manager does?”

Not exactly.

The big difference is that marketing strategists have a long-term vision, whereas marketing managers focus on shorter-term marketing activities. 

So, to be a strategist, it’s helpful to have a background in marketing, copywriting, or a similar field. 

But most importantly, you should know how to develop a plan to help your clients reach their big-picture marketing goals.

Start here: How To Become a Digital Marketing Strategist in 4 Steps | Indeed.com 

24. Bookkeeping

As a bookkeeper, you’d be in charge of managing your clients’ finances. 

So, this could include things like creating financial reports, tracking transactions, and monitoring accounts to look out for discrepancies. 

Good news: You don’t need a college degree to get started. 

But you SHOULD familiarize yourself with relevant bookkeeping software, like Quickbooks and Expensify. 

Start here: How To Pursue a Career as a Bookkeeper | Indeed.com 

25. Technical writing 

Technical writers explain complicated ideas or concepts in a way that’s easier to understand. So, for example, as a technical writer, you could write guides, manuals, and so on. 

Okay, but maybe you’re wondering, “Luisa, what’s the difference between technical writers and copywriters?”

Great question.

Technical writers focus on explaining. Copywriters focus on selling. 

Both are important, but they’re not the same.

To get your foot in the door, though, you’ll need a similar approach: Write a lot. And practice presenting information in a way that makes people think, “I understand this.”

Start here: What Is a Technical Writer? How to Become One, Salary, Skills. | Built In 

26. Data analytics consulting

As a data analytics consultant, you’d help businesses make their data analytics processes better. 

Depending on your interests and expertise, you could work on a variety of different tasks – from creating data models to teaching people how to analyze data themselves. 

If you love technology and have good communication skills, data analytics can be an ideal way to dive into solopreneurship. 

To get started, familiarize yourself with programming languages you might need, like Python, R, and SQL. 

It can also help to get a relevant certification or internship. 

Start here: What Does a Data Analytics Consultant Do? (And How To Become One) | Indeed.com 

For more, take a look at these side hustle ideas: 

How to run a solopreneur business

Now you know what solopreneur businesses there are… But how do you run one? 

Take these steps: 

• Be on top of your finances: YOU are in charge of your income, so you need to budget and track your income and expenses. There are online tools for this and you can work with an accountant.
• Get organized: If you learn how to build systems and manage your projects, building your business will be 10X easier. I talk more about it here. 
• Focus on the most important things: Get clients using ONE strategy and take steps every day to land your first clients. 

Should you become a solopreneur?

Though solopreneurship isn’t for everyone, it could be a great fit for you if…

• You want the freedom to be your own boss, set your own schedule, and make more money
• You’re willing to put in the time and work needed to grow a business
• You have marketable skills

And here’s the thing…

Being a solopreneur doesn’t have to be a huge investment. 

In fact, if you decide to become a coach or consultant, you’ll have very few overhead costs because ultimately, your expertise and guidance are what people will pay you for.

What’s next? 

Okay, now you know what the best solopreneur ideas are. As you can see, there are a LOT of options.

Feeling overwhelmed?

I’ve been there too… 

In fact, I used to work a 9-to-5 I wasn’t passionate about. 

But today? I have a thriving eight-figure business.

It didn’t happen overnight, though. And that’s why I decided to create a complete course to help people just like you grow a lot faster. 

Ready to skip the rookie mistakes? 

Here’s everything you’ll need to start a business that’ll give you more money, time, and purpose:

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

Get Instant Access To My FREE Ultimate Guide Below!

GET INSTANT ACCESS

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Read more: 

How to Build a Business Without Social Media

How to Succeed in Business: Proven Steps 

Top Benefits of an Online Business

The post 26 Solopreneur Business Ideas to Start THIS Week appeared first on Luisa Zhou.

You’re about to find out. 

If you…

• Want to be your own boss – without having to manage employees
• Need a better work/life balance
• Lack purpose in your current job

…then becoming a solopreneur could be an ideal fit.

Sound good? Let’s get started!

What is a solopreneur? 

A solopreneur is an entrepreneur who wears all the hats in their business. They’re in charge of everything – from choosing a business idea, launching their offer, marketing, and everything in between. 

They don’t have any salaried employees or business partners like an entrepreneur might.

With that said…

Being a solopreneur doesn’t mean you can’t outsource. 

In fact, that’s what I do in my business: 

I’ve grown to eight figures with no employees, but I HAVE outsourced tasks to contractors to help me scale (and I’ll talk about this more in a bit).

So, keep that in mind: You can be a solopreneur and still get outside help. 

The top benefits of being a solopreneur

The top benefits of solopreneurs are: 

• Easy to start
• You make all the decisions
• Flexibility
• You choose your clients
• All profits are yours
• You can work from anywhere

Solopreneurs tend to share similar traits. These are…

Key characteristics of solopreneurs

What does it take to become a successful solopreneur? 

For one thing, you should be self-motivated because you might not see tangible results for a while. 

(Don’t ask me how I know… I built several businesses that flopped before finally seeing serious growth.)

Ultimately, you need to have the discipline to work on your business long-term – without needing anyone to push you. 

Remember: As a solopreneur, you’re accountable to yourself, not a boss. 

And if you come from an employee background, like I did, this will require a mindset shift. 

Chances are, you have limiting beliefs that could hold you back (and I’ll give you an example in a minute).

What is the biggest difference between solopreneurs vs entrepreneurs?

As a solopreneur, you’re also an entrepreneur. But not all entrepreneurs are solopreneurs.

Let me explain…

The main difference between entrepreneurs and solopreneurs is their long-term vision.

For example, an entrepreneur might start out as a solopreneur but have the goal of eventually hiring employees to expand operations. 

Maybe they want to open a chain of stores or sell internationally. 

On the other hand, most solopreneur don’t want to grow a huge business (as I’ll explain more later on).

For now, here are a few key differences between solopreneurs and entrepreneurs:

Solopreneurs focus on one thing

Instead of offering many different services, like an agency would, solopreneurs focus on one specific niche offer. 

For example, if you’re a wedding photographer, you’re going to focus on delivering quality wedding packages for your clients – versus expanding your operations beyond what you can handle. 

Solopreneurs have less risk

If you’re risk averse (like me!), solopreneurship is a lot safer than entrepreneurship.

Why? Because as a solopreneur, you don’t have to worry about getting outside funding or pouring a lot of your own money into an idea that may or may not work.

If you choose a tried-and-tested business model that offers a high ROI and low overhead (think coaching or consulting), you can get started a lot faster – with a lot less risk.  

Solopreneurs often work in their business

As a solopreneur, you’d generally work in your business – rather than managing it, like an entrepreneur might. 

But again…

You don’t have to work 24/7 as a solopreneur. For example, even though I still coach, I’ve outsourced a lot of tasks to free up more of my time. 

Solopreneurs don’t always look to grow their business 

Instead of massively expanding their operations, solopreneurs build flexible businesses they can manage themselves, with little or no outside help. 

And keep in mind…

Just because solopreneurs don’t hire salaried employees or build huge teams doesn’t mean they can’t scale or make great money. 

Because… they can.

And offering coaching or consulting is a great way to get there, especially since you can use courses and group coaching to scale – without adding to your workload. 

As I talk about here: 

Being a solopreneur comes with its own challenges.

What are they? 

That’s what we’ll look at next.

The top challenges of being a solopreneur

The biggest challenges of being a solopreneur are: 

• Responsibility: You have to be on top of all of your income and manage all your to-do’s – your business depends on you
• Cash flow: You typically don’t have outside funding, so you need to have cash in the bank to make investments
• Isolation: You work alone and if your business is online, you don’t have a lot of in-person interaction 
• Trading time for money: If you stop working, your business stops, too 

Fortunately, there are ways to overcome these.

The first step is to choose the right business idea – and that’s what we’ll look at next. 

The best solopreneur ideas

Here are the best ideas that’ll help you hit the ground running – so you can make money faster and ultimately quit your job.

Coaching and consulting 

As a coach, your job is to offer actionable advice that helps your clients reach specific goals. 

So, instead of doing the work for your client, you’re using your experience to guide them to the results they’re after. 

I’m a bit biased about coaching because I know firsthand what an effective business model it can be. Thanks to coaching, I earned over $100k in four months – and that was before I quit my 9-5.

Think of it this way: If you offer three months of coaching for $1,500, you won’t need many clients to replace a full-time income. 

Wondering how to create a coaching package? I outline everything here.

Freelancing

If you have specific, in-demand skills, freelancing is one of the easiest ways to become a solopreneur.

For example, let’s say you’re a graphic designer working a typical 9-5.

But… you don’t like having to work in an office. Or maybe you want more control over when you work and how much you get paid. 

In that case? 

You could use your skills to go freelance and build your own client base using sites like Upwork or asking your network for referrals. 

A lot of solopreneurs (like me!) turn to freelancers when they need to offload tasks, and it’s a great way to replace your salary quickly.

Online courses 

If you like the idea of having a huge impact on people’s lives while ALSO earning passive income to free up your time, online courses are the way to go. 

What can you teach? Basically anything – from marketing to piano. 

And the thing is, you DON’T need a massive audience to make money with online courses. 

What you do need is the right audience: People who are excited about what you offer because it speaks specifically to their needs or wants. 

Example: I made over $8k in course sales with an audience of 200 people, so I know firsthand what works:

E-commerce store 

E-commerce can be a lucrative way to become a solopreneur. In fact, the e-commerce market size is worth $8.8 trillion. 

With that said… 

Selling physical products does come with much higher overhead costs: You need to choose a product to offer, buy inventory, and deal with shipping. 

All told, you’d be looking at a $40,000 investment to get your business up and running. 

So, though e-commerce absolutely can be a good option, do your research first to know what expenses you can expect. 

How to become a solopreneur (4 steps) 

Okay, now that we’ve talked about some great solopreneurship ideas, how can you actually become one? 

You’re about to find out. 

Find a niche

To be a successful solopreneur, you need a niche. That means you have to target a specific market segment rather than everyone. 

For example, let’s say you want to become a health coach. 

Great! The thing is… that’s really broad. And because it’s really broad, it doesn’t speak to anyone in particular. 

Think of it this way…

If you were a retiree looking for a coach who could help you lose weight, what would you prefer:

Working with someone who says, “I help everyone improve their health” or someone who says, “I help retirees build customized workout programs based on their unique metabolism.”

Chances are, you’d go with the second coach. 

And that’s the power of niching down: It helps you speak directly to your target audience and address their specific challenges.

So, bottom line: Think of problems people have that you could solve. 

Once you’ve identified a niche, the next steps will be a lot simpler because you’ll know who you’re trying to attract.

Get your first paying clients

How can you land clients? 

There are all kinds of ways depending on your niche, your budget, and what speaks to you most. 

For example, if you’re a coach, getting interviewed on niche podcasts can be an effective way to get your name out there among your target audience. 

But maybe you’re wondering, “Luisa, that sounds great, but… I don’t know how to get podcast interviews.”

Don’t worry, I’ve got you covered.

To find podcasts in your niche, try using these queries in any search engine:

• “Podcast” + “[Your Niche]”
• “Top [Your Niche] podcasts in [Year]”

Once you find relevant podcasts, here’s a template you can customize and send to podcast hosts: 

Hi [Podcaster’s Name],

I’m [Your Name] and I [briefly talk about what you do that would interest the podcast host/their audience]. Based on your listeners’ interests, here are a few podcast ideas that I think your listeners would enjoy:

• [Topic suggestion 1]
• [Topic suggestion 2]
• [Topic suggestion 3]

Do any of these topics speak to you? If so, please reach out and we can discuss this further. 

Warmly,

[Your Name]

Appearing on niche podcasts is great because you instantly get exposed to people who might be looking for what you offer.

But there are also plenty of other ways you can land clients, like engaging in niche social media groups (think Facebook and Reddit), running ads, and promoting your business through LinkedIn.

Not all of these strategies are created equal, though.

If you’re just starting out, some will work a lot better than others (for example, LinkedIn will give you faster results than paid ads).

I cover all of these strategies (and a lot more!) in detail here.

Build systems 

Once you have some business experience under your belt, you’ll want to create systems that’ll help you automate tasks and scale. 

For example, sales are essential to having a successful solopreneurship because, without them, you won’t have a business.

That’s why creating a system for getting sales is so important. For this step, you can use things like email marketing, sales pages, and webinars. 

And when you’re creating these materials, think: Is this content reusable?

If so, you’re on the right track to creating a business that gives you true freedom.

Here’s a disclaimer, though: Building systems is important, but so is timing. 

You’ll know you’re ready to systemize things like lead generation and sales when you’re making consistent income month to month and know what’s working consistently. 

Work on your mindset

As I mentioned earlier, you might have limiting beliefs right now that could hold you back as a solopreneur. 

For example, maybe you have a tendency to think, “This is too hard” or “I can’t do this” when you’re faced with a task you’ve never done before. 

In that case? Get in the habit of reframing your thoughts.

Like this: “I have everything I need to figure this out” or “There are many ways to solve this problem and I just have to find one that works for me.”

Yes, this exercise is easier said than done. 

But the more you actively reframe your thinking and replace negative thoughts with positive ones, the more you’ll grow.  

Ultimately, having a growth mindset can open a lot of doors for you. 

Take it from me: I went from being a salaried employee to building a thriving business, and changing my mindset was a key to getting there. 

Solopreneur examples

Okay, now that we’ve looked at how to become a solopreneur, let’s look at some real-life examples. 

Luisa Zhou

First up… Hi, I’m Luisa. I used to be a Princeton-trained engineer, but I wanted more freedom and meaning than my 9-5 offered.

Long story short, I built a few businesses on the side until eventually, my work paid off and I made over $100k in four months as a coach – before quitting my job. 

As I talked about briefly, I’ve never had employees, though. Not one. 

Instead, I put together a small team of freelancers who helped me…

• Focus on things only I could do
• Work fewer hours 
• Scale to eight figures

Ultimately, my business is one example (out of many) that shows you can be a long-term solopreneur and STILL have a huge impact. 

Jackie Aina

Jackie Aina is a prime example of successful solopreneurship: 

Thanks to her background as a makeup artist, she became a beauty influencer to a niche audience (women of color). 

And it works: She has millions of fans and partners with major brands like Sephora. 

Farnoosh Torabi

Farnoosh Torabi is a best-selling author, podcaster, and personal finance expert. But… not so long ago, she was a penniless 22-year-old living in NYC.

In other words? She’s relatable. 

And because she chose a specific niche, she’s been able to focus on helping a specific demographic – while building a name for herself as the go-to expert in the personal finance world.

What’s next? 

So, there you have it! 

Now you know the key differences between solopreneurs and entrepreneurs.

If the idea of building a streamlined business that’s profitable (WITHOUT being overwhelmingly big) appeals to you, just know it’s possible. 

I’ve done it, and I’ve helped thousands of students start their own successful solopreneurships too.

If you’re disillusioned by your “safe” 9-5 and want more purpose, money, and free time, here’s everything you need to know to build a solopreneurship that will give you that life:

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However, there are disadvantages of entrepreneurship, too.

And today you’ll learn about the biggest ones.

But I’ll also share how you can overcome them. (These are the same steps I’ve taught 1,000s of new entrepreneurs.)

Ready to get started? Let’s go.

The top 5 disadvantages of becoming an entrepreneur are…

• No fixed income 
• More stress  
• Risk of failure 
• More responsibility 
• Longer working hours

Want to learn more? Read on for the full list. 

10 risks and disadvantages of becoming an entrepreneur 

As with anything, there are risks to becoming an entrepreneur.

But don’t let the disadvantages of entrepreneurship scare you off.

Because there are ways to deal with and overcome them.

Let’s begin with one of the scariest disadvantages of entrepreneurship – the financial risk involved.

Financial risks 

I know that financial risks are among the most intimidating disadvantages of entrepreneurship.
I mean, a whopping 82% of businesses either run into or fail because of money problems:

But if you do it right, your business can provide financial security.

The solution: Build a solid foundation by staying risk-averse and focusing on sales.

Any way you slice it, entrepreneurship is risky – but you can minimize that risk.

Get comfortable with things like budgeting, financial planning, and creating a consistent income.

And, above all else, focus on sales.

The best way to make sales is to focus on the low-hanging fruit – the people ready to buy from you right now.

I’ll walk you through making sales in this video:

Uncertain income

One of the biggest disadvantages of entrepreneurship is that income is never guaranteed. 

But what if I told you there’s a way to guarantee a steady stream of income while you grow your business?

The solution: Instead of quitting your job, start a side hustle.

I’m a risk-averse person. And there’s nothing riskier than giving up your full-time salary to launch a business.

So I didn’t.

Instead, I started my business as a side hustle and worked on it during my free time. 

I only quit my job when I’d earned enough to replace my salary.

The best part? I did it using skills I already had.

That’s right. A successful side hustle doesn’t need to be revolutionary. It just needs the skills and tools you already have.

And that’s why businesses like coaching, consulting, and freelancing are great side hustles. (Here’s my guide on how to start a coaching business.)

And here are some other side hustle ideas:

• Productized service
• Online courses
• Digital products

More responsibilities  

As a business owner, you don’t just wear a few hats – you wear them all. 

You’re responsible for marketing, sales, and management, to name a few.
And while you can outsource most tasks, you’ll still have to step outside your comfort zone and learn new skills.

For some people, that’s one of the biggest disadvantages of entrepreneurship.

The solution: Getting into and growing your entrepreneurial mindset.

Successful entrepreneurs have a different approach to their beliefs, resilience, and motivation.

You have to have one, too.

It doesn’t always come naturally, and that’s okay! Start with the basics:

• Stop comparing yourself to others
• Set achievable goals
• Focus on what you can control

Here’s a full guide to growing an entrepreneurial mindset.

Long working hours 

Unfortunately, a lot of entrepreneurs don’t have great work-life balance. 

In fact, 1 in 5 entrepreneurs work 60+ hours each week.

That lack of work-life balance is one of the hardest disadvantages of entrepreneurship because you probably want to start a business to be able to enjoy your life more.  

But you can have a business and a life.

The solution: Build what I like to call a Freedom Business.

A Freedom Business leverages your existing skills and maximizes your profit per hour of work.

What does that look like?
You can either increase your pricing based on your skill or create profitable digital products to be sold repeatedly.

Whichever route you take, there are a few things you need to do to make your business a true Freedom Business.

First, choose a business model that turns the skills you already have into profit.

Then, streamline your time by building systems.

You’ll need two: A lead generation system and an automated sales process.

And finally, don’t be afraid to outsource! I know it’s your Freedom Business, but you can’t grow it without a team behind you.

I talk more about avoiding common disadvantages of entrepreneurship by building a Freedom Business in this guide.

Business failures  

The hard truth is that 90% of startups fail.

Why? Typically because they run out of money or there’s no market for the product.

But entrepreneurs don’t let failure hold them back.

They embrace it.

The solution: Overcome your fear of failure by looking at it as part of the process.

Yes, failure is one of the most painful disadvantages of entrepreneurship.

In fact, I failed a lot when I was first starting out. Dozens of people turned me down.

But if I’d seen that as an endpoint, I wouldn’t have gotten my first paying client.

The truth is, you have to fail to be successful. How else will you learn and grow?

For three tips to conquer your fear of failure, watch this video:

Stress and burnout

More than 2 in 5 entrepreneurs experience burnout – it’s one of the most common disadvantages of entrepreneurship.

But it is possible to build a business that doesn’t feel like a grind.

The solution: Overcome stress and burnout by doing what works best for you. In other words, throw out the rule book!

Your business decisions should all be fueled by excitement, which starts with building a business around something you love.

That means finding a niche.

And when you do, ignore what everyone else is doing and figure out what you enjoy. That’s the key to success.

For example, I used to hate social media.

But when I stepped back, I realized I didn’t have to use it even if everyone else was. I was already making great sales from things I actually enjoyed doing!

I talk more about avoiding business burnout in this video:

Confrontation with uncomfortable situations

Most of us go out of our way to avoid uncomfortable situations. It’s only natural.

But uncomfortable situations are just unavoidable disadvantages of entrepreneurship.

The solution: Get comfortable with being uncomfortable. 

Often, we’re so afraid of messing up or failing – of being uncomfortable – that we never even try.

The truth is there’s no tip or story I can share to ease that fear.

You just have to take that leap.

Remember: 

Almost everyone is uncomfortable with some aspect of entrepreneurship.

Hitting publish on my first few Facebook business posts was excruciating. I was uncomfortable with the idea that I could look stupid or that nobody would respond.

But I knew I had to do it if I wanted to be successful.

I talk more about being uncomfortable in this video:

Loneliness 

Over half of entrepreneurs feel lonely.

I spent about six years of my career feeling lonely, so I know first-hand how hard and disheartening it can be.

But reframing loneliness helped me to stop seeing it as one of the disadvantages of entrepreneurship.

The solution: Start thinking of your loneliness as a rite of passage to becoming an entrepreneur.

Loneliness isn’t a bad thing.

It gives you space to build your skills, resilience, and confidence. 

And once you do, people will start flocking to you. After all, successful people want to hang out with other successful people.

When I threw myself into my work, I realized the loneliness didn’t actually bother me. In fact, I found my work more enjoyable because of it.

The more I worked, the better my skills became. And I started seeing better results!

I talk more about loneliness in this video:

Difficult to start

I see it all the time.

People don’t start businesses because they don’t believe they have the time, talent, or right idea.

That belief is among the most damaging disadvantages of entrepreneurship because it derails your entire journey.

You do have what it takes – you just have to look at it differently. 
The solution: Overcome your fear of starting a business by thinking of it as an extension of your skills rather than a new or revolutionary idea.

You just have to choose a business that uses your skills and takes little time to start.

For me, it was paid ads consulting. I already used those skills in my day job, and it only required a few hours every week.

You’ll notice I don’t offer that service anymore.

That’s because I always knew I wanted to help people build their businesses – but I didn’t have those skills yet. 

That didn’t stop me from launching a business, though.

Instead, I looked at my skills, chose one that was good enough, and boom! I’d launched my first business.

I used this as a stepping stone to the business I wanted to create.

At the end of the day, a “good enough” business idea is the single best way to start your entrepreneurial journey.

Regulatory limitations   

Regulatory limitations are disadvantages of entrepreneurship, and they are stressful. But they don’t have to be impossible to navigate.

The solution: You just need the right resources and professionals to help you understand them.

Those include:

• Accountants for big financial tasks like taxes and financial planning
• Bookkeepers for everyday financial tasks like payroll and invoicing
• Marketing and sales consultants for developing new strategies
• Business mentors for guidance and support

Fortunately, there are tons of free resources available, too.

Take the US Small Business Administration (SBA). It has dozens of programs and services and is good for business plans and loans.

And SCORE offers mentors, workshops, webinars, and online courses to help you start and grow your business.

Rejection

Nobody likes rejection, but it’s an inevitable part of entrepreneurship.

You get rejected all the time. 

By potential clients, people in your audience, people you pitch…

Solution: Figure out how to overcome the fear of rejection by getting used to it.

In other words, pitch yourself to as many people as possible and risk rejection.

I know this seems counterintuitive. But as someone who hated rejection, I can’t recommend doing this enough.

When you pitch yourself over and over again, you’ll get used to hearing the word “no.”

Eventually, it won’t matter.

Don’t believe me?

I got told “no” 30 times! But I continued to try, got used to hearing the word “no,” and kept going because it didn’t faze me anymore.

You now know about the disadvantages of entrepreneurship, but there are some important advantages, too.

I’ll tell you about them in the next section, so keep reading!

What are the advantages of entrepreneurship?

Even though there are some disadvantages of entrepreneurship, the advantages make it all worth it.

When you’re running a business, you don’t have to answer to anyone else. You’re your own boss.

Who hasn’t dreamed of that?

And I’d be lying if I said the money wasn’t an advantage.

Higher income

When you transition from employee to entrepreneur, you break free of a capped salary and experience unlimited earning potential. 

Not only did entrepreneurship allow me to replace my salary entirely, but I could also scale to multiple six figures in just a year.

Freedom

But it’s not just about the money or working for yourself.

Entrepreneurship allows you to create the kind of lifestyle that suits you. 

Want to take the afternoon off, work for a week in a new state, or sign off and go on vacation?

Then go!

You can do it because a business allows you to have real freedom. Your life is on your terms.

Fulfillment

Entrepreneurs also have a greater sense of fulfillment in their careers – which is something that a majority of employees say they’re missing in their jobs. 

That’s because, as an entrepreneur, you get to focus on finding solutions to problems that matter to you and positively impact society. 

Personal growth 

But above all else, becoming an entrepreneur is like a crash course in personal growth.

You’ll constantly face new challenges, learn new skills, and work to make yourself better.

Most importantly, you’ll learn to shift your thinking and better overcome stress, barriers, and mental blocks.

So, yes, you’ll find risks and disadvantages of entrepreneurship if you look hard enough. 

But the rewards outweigh them all.

Next steps 

There you have it! 

A breakdown of the most common disadvantages of entrepreneurship and ways to overcome them.

And today, I’ll show you how to go from employee to entrepreneur with your own successful business.

You’ll find the exact steps I took in this FREE PDF:

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What is an Entrepreneur?

How to Finally Go From Employee to Entrepreneur

How to Become an Entrepreneur Without an Idea

How to Start a 6-Figure Business While Working Full-Time

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That’s what you’ll learn today. 

We’ll go over the TOP 32 entrepreneurs together.

And you’ll discover what you can learn from them too.

Ready to get inspired?

Then let’s dive right in!

Top 32 successful and famous entrepreneurs in the world

You might be wondering: 

What truly sets the most successful entrepreneurs apart from the rest? 

Before we go over the most famous entrepreneurs, I want to share some important advice with you.

Starting your own success story doesn’t require a billion-dollar idea.

Often, the best place to start is a business model that lets you sell your existing skills, like coaching or consulting.

These businesses offer both flexibility and profitability. Plus, they’re easy to set up too.

Take it from me — I built an eight-figure business with just that approach.

Want to know how I did it?

Then check out our coaching business guide for more insights.

Now, let’s dive into the stories of the top 32 successful and famous entrepreneurs in the world.

Bill Gates

Bill Gates is worth nearly $130 billion.

But it took him some time to get there…

His computer journey began early; he co-founded Microsoft with Paul Allen in 1975.

At the time, Gates was just 20.

The duo bet big on software for a new microcomputer most people hadn’t even heard of.

Seeing potential, Gates dropped out of Harvard and went all-in on Microsoft.

And by 1976, its revenue hit $16,005.

Now, Gates faced his share of tough times – legal battles, competition missteps, you name it.

But instead of throwing in the towel, he saw each hiccup as a learning curve.

As an entrepreneur, this ability to bounce back and learn from each fall is priceless.

Or as Gates once put it:

“It’s fine to celebrate success but it is more important to heed the lessons of failure.”

Another thing we can learn from Gates?

Start working on your business ASAP.

Gates founded Microsoft at an early age.

While you don’t have to be in your 20s to start, the message is clear:

The best time to begin is now.

Elon Musk

Elon Musk is the second richest person in the world and an all-round entrepreneur who (co-)founded and runs several companies:

• PayPal
• SpaceX
• Tesla
• The Boring Company
• X (Twitter)

What sets Musk apart is his massive impact across different sectors.

Musk is known for taking risks.

For instance, what would you do if you had $200 million from selling a company? Most of us would think we’re settled in life, right?

Well, Musk went a different road…

Instead of sitting back and relaxing, he re-invested what he made with Paypal into three different projects:

• SpaceX
• Tesla
• Solar City

Why?

Because he saw a future others didn’t.

And it paid off.

You see:

Taking calculated risks as an entrepreneur helps you stand out.

It’s the difference between creating your own opportunities versus waiting for them.

If something is worth pursuing, DO IT instead of thinking endlessly about possible failures.

Or in Musk’s words:

“When something is important enough, you do it even if the odds are not in your favor.”

Figure out what your “important enough” is — and then go for it.

Jeff Bezos

Jeff Bezos is the founder of Amazon, the largest eCommerce marketplace.

His company has made him the third richest man on earth.

What’s his current net worth?

Nearly $200 billion.

Not bad for a small online book store he once started in his garage…

Here’s how Bezos made it happen:

Amazon kicked off in 1994. Within a month, it wasn’t just selling books across the US but also in 45 other countries.

But Bezos didn’t stop there…

He started adding more items like CDs, videos, clothes, electronics, toys, and so on. 

What’s the big lesson?

Start with one thing. Nail it, then expand.

Bezos shows it’s okay to start small, as long as you’re thinking big.

And about taking risks? Bezos says it best:

“If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunities on the table.”

Translation:

Not everything will be a win, but not trying guarantees you’ll stay right where you are.

Oprah Winfrey

Oprah Winfrey runs a multimedia empire that’s worth $2.8 billion.

She started as a media mogul, but her business know-how led her to expand beyond her show.

Yet to this day, millions of people still enjoy “The Oprah Winfrey Show.”

But why do they keep watching?

The answer lies in the connection and trust Oprah has built with her audience.

Her audience knows exactly what they can expect from her:

Authenticity and empathy.

Over the years, Oprah founded many companies. But each venture was an extension of her personal brand.

This is something she really mastered.

Here’s why branding is so important for your business. It:

• Makes you stand out
• Highlights your strengths
• Draws in your ideal clients
• Builds trust

Trust is crucial here.

If people don’t trust your brand, they won’t want to engage with it.

To build your brand, start by identifying what makes you unique.

What do you bring to the table that nobody else does?

Once you’ve figured that out, own it, share it, and let it drive your business forward.

Melinda Gates

Melinda Gates is known as the ex-wife of Bill Gates.

But she’s so much more. 

Starting at Microsoft in 1987, she quickly climbed the ranks. Eventually, she became the general manager of information products.

Melinda and Bill got married in 1994. When their first child was born two years later, she left Microsoft to focus on their family and charity work.

Over the years, the couple set up many different charities. But in 2000, they combined them as the Bill & Melinda Gates Foundation.

The foundation focuses on healthcare and education. And it aims to give a fair shot for women and girls everywhere.

Melinda once said: 

“If you are successful, it is because somewhere, sometime, someone gave you a life or an idea that started you in the right direction.”

This highlights Melinda’s belief in giving back.

It’s her way of saying, “Don’t simply bask in your success. Pass it on.”

After all, success isn’t just about what you achieve — it’s also about what you set in motion for others.

Warren Buffett

Warren Buffett is often called the “Oracle of Omaha.”

He got started in finance very young:

He bought his first stock at age 11 and filed his first taxes at 13.

Today, he’s a legend in the world of investing – something his net worth of $138 billion proves.

Buffett’s company, Berkshire Hathaway, is a massive conglomerate that owns businesses like: 

• Geico
• Duracell
• Dairy Queen

But Buffett isn’t just about owning companies; he’s about smart, long-term investing.

He:

• Buys to hold forever
• Focuses on quality instead of market fluctuations
• Understands that time magnifies the success of good decisions​​

Buffet is famous for saying:

“Be fearful when others are greedy and greedy when others are fearful.”

This strategy worked out for him, especially during tough times like the 2008 financial crisis.

While everyone else was panicking, he invested in solid companies at bargain prices. 

The big lesson from Buffett?

Focus on the future, not just immediate profits and short-term gains.

Start small, understand your market, and then grow your business based on solid knowledge.

Melanie Perkins

Melanie Perkins is a co-founder of Canva — a game-changer in graphic design.

Perkins was born in Perth, Australia. And her business started with a simple observation during her time at university:

Design tools were really hard to use for the average person.

Perkins wanted to change that.

So, she set out to make designing stuff easy for everyone. But first, she had to find investors…

She got her first big break at a conference in Perth where she met Silicon Valley investor Bill Tai.

With this financial backing, Perkins co-founded Canva with her boyfriend Cliff Obrecht and ex-Googler Cameron Adams in 2013.

What sets Canva apart is its simplicity combined with its usefulness.

It lets people everywhere feel like they can be designers too, even if they’re not pros.

And because there was such a high demand for this service, word of mouth drove a ton of growth. 

In their first year alone, they had more than 750,000 users.

And nowadays, the platform has over 170 million active users.

Mark Zuckerberg

Mark Zuckerberg started Facebook (now called Meta) from his college dorm in 2004.

Fast forward to today, and it’s the biggest social network globally, with over 3 billion people using it every month.

Plus, Meta owns Instagram and WhatsApp too.

Sitting at a net worth of $170 billion, Zuckerberg ranks as the world’s fourth richest person. 

But here’s the thing — his true impact extends far beyond his bank account. 

Zuckerberg has completely changed how we connect, share, and even do business online.

What drove Zuckerberg’s success?

A willingness to take risks.

He once said:

“The biggest risk is not taking any risk… in a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

What does this mean for you?

It’s simple: Don’t be afraid to try new things.

Have an idea? 

Then dive in, and take that chance.

The world’s moving fast, and to succeed you often have to step out of your comfort zone.

Staying safe won’t help you catch up. 

So, test your idea out and learn as you go.

Indra Nooyi

Indra Nooyi is a trailblazer in the corporate world.

Originally from India, she holds an MBA from Yale.

Forbes estimates Nooyi’s net worth to be around $350 million.

How did she make her fortune?

A large part comes from her transformative leadership as the CEO of PepsiCo.

Nooyi wasn’t just any CEO, though. She completely reshaped the brand’s identity and focused on making a positive impact.

Under her leadership from 2006 to 2018, PepsiCo saw a big shift toward:

• Healthier products
• Sustainability
• Responsible corporate practices

Nooyi guided the company beyond profit. She wanted purpose too.

And by doing so, she redefined Pepsico’s success.

Nooyi once said:

“If you want to improve the organization, you have to improve yourself and the organization gets pulled up with you.”

Transforming our business often starts with transforming ourselves.

True leadership is about leading by example.

And by embracing self-improvement, we set the stage for collective success. 

Whitney Wolfe Herd

Whitney Wolfe Herd turned her vision of a safer online dating space for women into a billion-dollar brand.

After getting her degree in international studies, Wolfe Herd got a job for a tiny company called Cardify.

Cardify let users swipe through retail loyalty cards. A few employees, including Wolfe Herd,applied this concept to dating and started Tinder.However, after facing harassment and a difficult breakup with another co-founder, she left Tinder and sued for sexual harassment.

These experiences drove her to focus on women’s safety and control in dating.

And that’s how Bumble was born.

The dating app is designed so women have to send the first message. And unlike Tinder, Bumble expanded beyond dating. It includes features for making friends and professional networking.

While Wolfe Herde stepped down as Bumble’s CEO in 2024, she remains as its executive chair.

Her story shows that tough situations shouldn’t hold us back.

Instead, they can be opportunities to make something that shows what we stand for.

Sergey Brin

Sergey Mikhaylovich Brin (aka Sergey Brin) is a key figure in tech.

In 1996, he partnered up with Larry Page to launch Google Incorporated.

At the time, Brin and Page were both Stanford students.

But once they got $100,000 in financial aid from investor Andy Bechtolsheim, they were ready for the next step.

So, they laid the groundwork for what would become the world’s most powerful search engine.

Google started as a simple web crawler.

​​Fast forward to 1999, and with investors knocking, they got a $25 million investment.

By 2001, they were making $100 million in profit. And they nearly grew this number tenfold by 2003.

But Brin and Page didn’t stop there…

Wanting to push the boundaries of tech innovation, they created Alphabet in 2015.

By shifting smaller companies under Google to Alphabet, they made Google’s scope narrower.

While Alphabet as a parent company became a technology conglomerate.

It currently has a market cap of almost $2 trillion, ranking as the world’s 5th most valuable company.

Larry Page

Lawrence Edward Page (aka Larry Page) is a highly successful tech entrepreneur.

Born to computer science professors, he was practically made for the tech world. And at Stanford, when he met Brin, the gears started turning.

Together, they created something the world didn’t even know it needed.

But Page knew that just having a cool invention wasn’t enough.

You’ve also got to tell people about it…

Google got to the top because of two big reasons:

• It gave people exactly what they were looking for (by offering the best possible results)
• ‘Google it” became everyone’s go-to phrase for finding anything online

Their invention was:

• Visible
• Easily accessible
• Useful

This transformed Google from a small project in a Stanford dorm to a gigantic tech empire.

Want to stand out with your project or business?

Then get out there and show it to the world.

Give your brand a voice, and let it attract those who resonate with your offer.

Rihanna

Rihanna is a global superstar.

Born in Barbados, she moved from a small island to the worldwide stage at the age of sixteen.

She’s famous for her hit songs, but that’s not what made her the richest female musician in the world…

Rihanna always refused to be boxed into one category. And her empire spans multiple industries:

• Music
• Cosmetics (Fenty Beauty)
• Fashion (Savage X Fenty)

Rihanna ventured into businesses where she saw gaps. For instance, she created her make-up brand Fenty Beauty to include everyone, no matter their skin color.

She once said:

“I’m not looking to be Miley Cyrus. I don’t want to be in movies. Right now, I just want to make music that’s relevant and that people enjoy.”

In other words:

Rihanna focuses on what she excels at without getting sidetracked by what everyone else is doing.

This entrepreneurial mindset is POWERFUL.

It’s a lesson in staying true to what you love while also not being afraid to try new areas when the time is right.

Sam Walton

As the inventor of Walmart, Sam Walton transformed retail.

Walton was born in 1918 in Oklahoma.

After running a successful chain of stores with his brother, he wanted to set up some discount stores in small towns.

His bosses rejected his idea. But instead of giving up, Walton went ahead and started his own chain: Walmart.

At the time, big discount stores usually opened in big cities. But Walton believed small towns could also generate enough profit.

He turned out to be right.

Walmart became huge under Walton. And by 1990, it had evolved from a single store to the world’s largest retailer.

Walton’s strategy was simple yet revolutionary:

Keep prices low to keep customers happy and coming back.

He famously said:

“There is only one boss. The customer.”

This customer-centric business model is the key to long-lasting success.

Do your market research to understand what your customers need and want.

Then, use what you learn to offer better services, better products, or whatever it is that will make your customers choose you over anyone else.

Beyoncé

Beyoncé Giselle Knowles began her career in Houston, Texas.

She started as part of Destiny’s Child, one of the best-selling girl groups.

She then soared as a solo artist, becoming a music industry powerhouse.

Like other pop stars on this list, Beyoncé’s impact goes beyond music.

She made her acting debut in 2001 and has starred in several movies.

Plus, she has founded multiple businesses too. Her business empire includes:

• Entertainment (Parkwood Entertainment)
• Fashion (Ivy Park)
• Hair care (Cécred)

No matter if she’s singing, acting, dancing, or business, Beyoncé’s confidence shines through in everything she does.

She once said:

“I don’t like to gamble, but if there’s one thing I’m willing to bet on, it’s myself.”

What’s the takeaway for your own life or business?

Simple: Invest in yourself.

Whether it’s learning new skills, branching into new ventures, or following your passions, you have to bet on yourself.

Trust yourself and invest in your growth.

Larry Ellison

Lawrence (Larry) Joseph Ellison is the co-founder of Oracle Corporation.

He’s currently listed as the fifth richest person in the world, with a net worth of over $155 billion.

But Ellison’s journey to success was anything but straightforward…

Born to a single teenage mom, he was adopted by his aunt and uncle.

Without finishing college, Ellison worked on computer code for years.

His big break came from an idea about organizing data better, inspired by an IBM paper.

In 1977, he co-founded Software Development Laboratories with just $2,000. This company would later be called Oracle.

Ellison was great at spotting opportunities and expanding by buying other companies.

That’s how Oracle quickly became the top name for database software.

Despite some tough times, the company hit it big with the release of Oracle 7 in 1992, making Ellison a billionaire.

In 2014, Ellison stepped back, but he stayed as Oracle’s executive chairman and tech chief. 

He once said:

“When you innovate, you’ve got to be prepared for everyone telling you you’re nuts.”

Translation:

Believe in your vision, even when others doubt it.

That’s how you make a difference.

Anne Wojcicki

Anne Wojcicki is well-known in health and science because of her company, 23andMe.

She launched the company with her friend Linda Avey in 2006.

They wanted to use genetic testing to help people understand their health better. This includes knowing one’s risks for certain diseases.

By sending in just a bit of saliva, anyone could learn about their DNA.

But not everyone was on board with the idea…

Critics worried about privacy and the accuracy of tests.

Nonetheless, 23andMe soon became a key player in the personalized health industry.

By 2016, they had genotyped more than one million people worldwide. And when the company went public in 2021, it was valued at $6 billion.

However, since then its valuation has crashed…

23andMe faced two big problems:

• A security breach that affected 6.9 million users
• Trouble retaining customers after they use the DNA kit once

This shows how important it is to both protect customers’ information AND think of ways to keep them coming back.

Wojcicki is now focusing on finding ways to make 23andMe profitable.

Michael Dell

​​Michael Dell is the brain behind Dell Technologies.

Dell started early. He made $2,000 selling stamps at twelve and $18,000 from newspaper subscriptions at sixteen.

At nineteen, he was earning $80,000 a month by upgrading personal computers from his college dorm room.

Dropping out of med school that same year, he founded Dell Technologies with just $1,000.

And at twenty-seven, he was the youngest CEO ever to lead a Fortune 500 company…

What set him apart?

Dell revolutionized PC sales by:

• Selling directly to customers
• Cutting costs
• Enhancing service

Today, it’s a MAJOR tech company that offers many different IT solutions.

Dell’s philosophy is simple:

“If you’re happy, that’s probably the most important thing. Everyone has their own definition of success, for me it’s happiness. Do I enjoy what I’m doing? Do I enjoy the people I’m with? Do I enjoy my life?”

Real success isn’t just about how much money you’re making.

It’s about enjoying what you do and who you spend your time with.

Tory Burch

Tory Burch is a highly successful fashion designer and businesswoman. 

She got her first job by cold-calling fashion designer Zoran Ladicorbic. And she then went on to work for Harper’s Bazaar, Ralph Lauren, Vera Wang, and Loewe.

After having gathered years of experience, she decided to launch her own store — against a lot of people’s advice.

She created an immersive brand experience right from the start. And her bold move paid off.

By the end of its opening day, the store had almost completely sold out.

Looking back at this moment, Burch once said:

​​“I’m an information gatherer, I like hearing what people feel and think, but at the end of the day, you have to believe in yourself and go with your instinct and gut.”

Tory Burch has grown into a global billion-dollar brand. And it’s still celebrated for its unique style.

Besides running her fashion empire, Burch also set up the Tory Burch Foundation.

The goal?

To empower women and female entrepreneurs by offering access to:

• Capital
• Education
• Digital resources

Jack Ma

Jack Ma is a Chinese entrepreneur who’s best known as the co-founder of Alibaba Group.

While most wouldn’t guess it now, Ma faced many job rejections early on.

After college, he couldn’t land any of the 30 jobs he applied for in his hometown.

He was the only one not hired at KFC out of 24 applicants. And he also failed to become a cop.

That all changed thanks to a trip to the USA in 1996.

During his visit, Ma discovered the internet. He saw a great opportunity. So, he founded the first commercial website in China called ‘China Pages’.

China Pages was successful. And in 1999, Ma founded Alibaba together with 17 others.

It soon became China’s top e-commerce company…

Can you guess Ma’s worth now?

Over 24 billion dollars.

Now, what can you learn from his story?

See failure as a learning opportunity. Don’t give up when someone rejects your idea.

Instead, focus on your vision. And look at your long-term goals.

Or to put it in Ma’s words:

“Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.”

Martha Stewart

Martha Helen Stewart is a famous businesswoman and TV star. 

She turned her love for home and cooking into a big business.

She started as a stockbroker but realized her real passion lay elsewhere…

Instead of selling stocks, Stewart wanted to make homes look beautiful and cook delicious meals.

So, that’s what she did.

As the founder of Martha Stewart Living Omnimedia Inc., she has had enormous success in multiple business ventures.

A big moment in Stewart’s life was in 2004. That’s when she went to prison for five months.

The reason?

She had lied to an investigator about a stock sale.

While some thought this would be the end of her career, Stewart proved them wrong.

Completely.

She came back even stronger and more successful. And in 2005, she published a bestseller about her experience.

Stewart once said:

“If you learn something new every day, you can teach something new every day.”

As an entrepreneur, continuous learning is key to success.

You have to stay curious and always be open to learning new things.

Steve Jobs

Steve Jobs is a name everyone knows.

After dropping out of college, a 21-year-old Jobs co-founded Apple.

While the company was successful not everything was smooth…

In 1985, Jobs was forced out of the company because of internal conflicts.

Not one to stand still, Jobs then founded NeXT computers.

One decade later, his efforts came full circle when Apple bought NeXT. This brought Jobs back as interim CEO, and by 2000, he was leading Apple as its permanent CEO.

Jobs believed in “putting a dent in the universe.” With that, he meant changing the world in any way — even if just a little.

That also includes putting a dent in his own life when needed…

In his words:

“For the past 33 years, I have looked in the mirror every morning and asked myself:

‘If today were the last day of my life, would I want to do what I am about to do today?’

And whenever the answer has been ‘No’ for too many days in a row, I know I need to change something.”

Arianna Huffington

Arianna Huffington is well-known in the blogging world.

Originally born in Greece, she later moved to the U.S.

In the early ’90s, she helped her ex-husband, Michael Huffington, run for the Senate. 

He didn’t win, but this got her started in politics.

She later co-founded the Huffington Post with Ken Lerer, Andrew Breitbart, and Jonah Peretti.

The Huffington Post was meant to be an alternative news website.

The site quickly became a go-to source for news on:

• Politics
• Business
• Lifestyle
• The environment
• Entertainment

In 2000, they expanded, creating local versions in cities like Chicago, New York, Denver, and Los Angeles.

And 11 years later, AOL bought the Huffington Post.

The price?

$315 million.

Over the years, Huffington faced a lot of criticism, especially about the Huffington Post’s content and how it didn’t pay some of its writers. 

To this, she once said:

“One of the greatest skills of leadership is being unflappable. Anytime you do anything in the world; there’s going to be criticism.”

Howard Schultz

Everyone knows Starbucks, but not so many know Howard Schultz.

While he didn’t start the coffee company, he’s a big reason why it’s doing so well today.

Schultz joined Starbucks as head of its marketing and retail operations in 1982.

During a vacation in Italy, Schultz noticed Italy’s vibrant coffee culture.

His goal?

Bringing Italy’s “coffeehouse culture” to the United States and packaging it for mass consumption.

When his idea wasn’t accepted, he started his own espresso bar, Il Giornale.

It was a hit.

But Schultz wanted more…

In a twist of fate, when the original Starbucks owners decided to sell, Schultz seized the opportunity.

Next, he completely transformed Starbucks.

He:

• Added exotic coffee drinks
• Made stores cozy
• Trained employees to better serve customers

This strategic focus pushed Starbucks from 425 stores in 1994 to over 2,200 by 1998.

Today, Starbucks is one of the world’s most recognized businesses.

Starbucks was Schultz’s passion project. That passion definitely helped him along the way.

In his words:

“If you don’t love what you’re doing with unbridled passion and enthusiasm, you’re not going to succeed when you hit obstacles.”

Cher Wang

Cher Mi Wang is a Taiwanese tech visionary who co-founded HTC.

Wang’s father was a renowned entrepreneur. So, growing up, business talk was just dinner table conversation for her.

Wang later moved to California to earn a degree in economics. After college, she worked in the tech industry before starting HTC in 1997.

On one of her many business trips, Wang realized how handy it would be to have a small device instead of a big computer.

A Microsoft acquaintance suggested making a handheld device. And that’s when HTC became a behind-the-scenes manufacturer making devices for other brands.In 2011, Wang and her husband ranked No. 1 among Taiwan’s richest. At the time, they had amassed $8.8 billion.

However, their fortune dropped in the following years, and it reached its lowest point in 2016.

That said, Wang is still worth a whopping $850 million.

Ritesh Agarwal

Ritesh Agarwal is an Indian billionaire entrepreneur.

He made history in 2012 by becoming the world’s second-youngest self-made billionaire.

At the time, he had just turned 25.

Here’s how he made that happen:

Coming from a small Indian town, Agarwal dropped out of college with a bold dream.

What was that dream?

To change the game in budget hotels.

Agarwal’s big break came when he joined the Thiel Fellowship.

This program gave him:

• $100,000 
• Mentorship
• Advice from big names in tech, like Mark Zuckerberg, Larry Page, and Elon Musk.

Starting OYO in 2013, Agarwal focused on improving and expanding budget hotels worldwide.

Now, OYO is not only India’s largest hospitality company but also available all over the world.

Agarwal once said:

“Start small, nail it, and then make it big.”

This is an approach that most successful entrepreneurs have in common.

They know that big achievements start with small steps.

Nail those before moving on to the next task.

Kylie Jenner

Kylie Jenner is known for her business smarts.

With a net worth of $680 million, she’s the second richest Kardashian. (Her sister Kim Kardashian has a net worth of $1.7 billion.)

Kylie’s initial fame came from the reality show “Keeping Up with the Kardashians.”

But she carved her own path in the business world.

With $250,000 from modeling, she kicked off her beauty company in 2015: Kylie Lip Kit.

It quickly became famous for its signature lip kits. It was later rebranded as Kylie Cosmetics.

12% of US cosmetics and makeup users use Kylie Cosmetics. 

But what makes her brand so popular?

Her fame and large social media following play an important role. But so do smart business strategies.

Think of powerful influencer marketing and sharing behind-the-scenes looks. This builds trust and makes her followers feel included in the process.

Besides her cosmetics company, Kylie also:

• Runs Kylie Skin
• Works as a brand ambassador
• Promotes brands on her instagram account

This approach of diversifying income is a very smart move.

Mukesh Ambani

Mukesh Ambani is India’s richest business tycoon.

His net worth?

$116 billion.

Ambani is the chairman and managing director of Reliance Industries.

While he didn’t found the company, he helped turn it into what it is today:

The largest retailer in India.

How did it all start?

Mukesh is one of Dhirubhai Ambani’s four kids. His dad began with humble beginnings as a gas station worker in Aden, Yemen. But as things got tense in Aden, the family moved to Bombay.

They settled in a chawl — a type of cheap housing found in western India.

To make ends meet, Dhirubhai Ambani and a cousin founded Reliance Industries.

At the time, it was a small textile manufacturer. But that would soon change…

In 1981, Mukesh stepped into the family business.

Under his watch, Reliance didn’t just grow — it exploded into various sectors:

• Petrochemicals
• Energy
• Textiles
• Retail
• Telecommunications

Besides his business ventures, Ambani is also a big sports fan. He owns the Mumbai Indians cricket team, and he even founded the Indian Super League for football.

Richard Branson

Richard Branson is a famous British entrepreneur.

Besides his wild and lavish lifestyle, he’s best known for the Virgin Group.

Virgin is a conglomerate of hundreds of different companies.

What not everyone knows, though, is that it all started with a cheap record store…

Branson founded Virgin Records with Nik Powell.

From there, Branson’s ambition took off.

He opened a recording studio and launched a record label. Soon, he was setting up shops across the UK.

Over the years, many well-known performers helped make Virgin a huge success. Some examples are:

• The Rolling Stones
• Janet Jackson
• Sex Pistols
• Paula Abdul

But Branson didn’t stop at music…

He ventured into airlines with Virgin Atlantic and kept expanding. 

What sets Branson apart is not just his wealth or businesses — it’s his approach to entrepreneurship.

He once said, 

“Entrepreneurship is not about winning over customers, working on your own, or making a lot of money. It’s about turning what excites you in life into capital, so that you can do more of it and move forward.”

Sheryl Sandberg

Sheryl Sandberg is one of Silicon Valley’s most successful executives.

Currently, only 15% of senior management jobs in big Silicon Valley companies go to women. And it’s well known that the tech industry (still) isn’t very diverse…

But Sandberg managed to climb to the top.

Today, she has a net worth of $2.2 billion.And she has worked in key posts at:

• Apple
• Alphabet (Google)
• Yahoo!
• Meta (Facebook)

After nearly two decades of working for Meta, Sandberg stepped down in 2024. However, she will continue to work for Meta as an adviser.

Sandberg’s influence goes beyond just leading tech companies, though.

She’s on a mission to help other women reach success.

Her 2013 book “Lean In” was an instant bestseller. It’s packed with her life lessons, tips, and powerful quotes like:

“What would you do if you weren’t afraid?”

“Done is better than perfect.”

The book sparked a movement, and Sandberg created the organization Lean In.

Lean In is a growing community aimed at breaking down gender barriers.

In Sandberg’s Lean In Circles, ambitious women gather in small circles to:

• Network
• Discuss struggles
• Build skills
• Offer support

Sara Blakely

Sara Blakely is the mind behind the shapewear brand Spanx.

She has a net worth of $1.3 billion.

But how did it all start?

Blakely was once a door-to-door fax machine salesperson.

She came up with her billion-dollar idea from the pantyhose she wore for work. While they made her body feel firmer, they were very unfashionable.

Blakely knew she could create something better.

With just $5,000 from her sales job, she launched Spanx.

What set her undergarments apart is that they combined comfort with style.

This filled a huge gap in the market.

After Oprah named Spanx one of her “Favorite Things,” the brand’s success skyrocketed.

It earned $4 million in its first year alone.

And in 2021, Spanx’s value soared to $1.2 billion thanks to a deal with Blackstone.

Blakely’s mantra?

“Embrace what you don’t know, especially in the beginning, because what you don’t know can become your greatest asset. It ensures that you will absolutely be doing things differently from everybody else.”

See the unknown as an opportunity instead of a roadblock.

Judy Faulkner

Judith (Judy) Faulkner is a powerhouse in the healthcare technology sector.

Through her company, Epic Systems, she has amassed a fortune of $7.4 billion.

Epic Systems is a leading medical record software provider.

It develops software solutions for hospitals, clinics, and specialty practices. The company also holds the medical records of over 250 million patients.

And it’s used by top medical centers, like Johns Hopkins and Mayo Clinic.

How did Faulkner make this happen?

Epic Systems grew slowly. It added a few clients each year and always made its software better.

In the beginning, it made billing software. Then, in the ’90s, it started using graphics to make its software easier for clinics to use.

That expansion never stopped.

And while the company’s product is generally called an ‘electronic health record’, its reach is far broader, including:

• Revenue cycle management
• Customer retention tools
• Data analytics

Impressively, Epic has grown this big without venture capital or buying other companies. All its software is made in-house by its own team too.

Not bad for a company Faulkner once started in her Wisconsin basement…

OK, we’ve covered the 32 most famous entrepreneurs!

But, who is the real number one?

Let’s explore that next…

Who is the world’s no.1 entrepreneur?

Who’s the top entrepreneur in the world?

Well, it’s not easy to pick just one.

It really depends on what you’re looking at.

What does success mean for you?

Is it:

• Money
• Impact
• Innovation
• Sustainability
• Happy clients
• Freedom
• Something else?

To me, success is living a life of FREEDOM. Being able to spend time with loved ones, and organizing your day the way you want to.

But it’s different for everyone.

What we do know, though, is that Bernard Arnault of LVMH is the richest entrepreneur in the world with a net worth of $233 billion. 

Elon Musk is the richest entrepreneur in the US. 

As of February 29, 2024, he has $215 billion to his name.

Next steps

There you have it!

You now know who the most successful and famous entrepreneurs are — and what you can learn from them.

I hope these stories leave you feeling inspired.

While you don’t need a groundbreaking idea to make it BIG, you can set yourself up for success by picking the right business model and applying the best strategies.

I should know – that’s how I build my own eight-figure business. 

Want to learn more? 

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Choosing the right courses will help you get to your goal much faster. 

After all, who better to learn from than other successful entrepreneurs?

I’ve rounded up some of the best online entrepreneurship courses that will save you from the mistakes that so many first-time entrepreneurs make.

What are they? Read on to find out!

The best online entrepreneurship courses 

What are the best online entrepreneurship courses? 

Here are 21 to get you started.

Note: I haven’t taken all of these online entrepreneurship courses. Instead, I’m basing my recommendations on reviews and reputation. 

Always do your own research to find the best online entrepreneurship courses for you.

Employee to Entrepreneur (ETE)

LuisaZhou.com

If you’re ready to start your own business, this is the course you need to take.

I created ETE because I wanted to help others do exactly what I’d done and help my students do: 

Build a successful business and leave corporate America for good.

In Employee to Entrepreneur, I’ll give you a step-by-step blueprint for creating a profitable business model and launching a six-figure business, regardless of your niche. 

The best part? It’s designed specifically for those working a 9-5 job and uses the skills you already have.

To learn more, reserve your seat for the next FREE masterclass.

Successful Entrepreneur Mindset Makeover 

LuisaZhou.com

Part of being a successful entrepreneur is knowing how to think like a top entrepreneur.

That means… 

• Staying motivated
• Finding new ways to solve problems
• Being okay with failure because you know you’ve got what it takes to succeed

Entrepreneurial mindset habits don’t always come naturally. 

But I’ll teach you exactly how to develop them in my course, The Successful Entrepreneur Mindset Makeover.

Get on the waitlist here.

How to Come up With Killer Business Ideas

Udemy

This course is for anyone struggling to find their million-dollar idea.

You’ll learn to generate and improve your business ideas straight from a former Silicon Valley VC, who has worked with companies like Facebook and Tesla.

The 10-part course includes seven hours of on-demand video and 75 additional downloadable resources. 

Price: $65

Sign up

Wharton Entrepreneurship Capstone

University of Pennsylvania

Wharton faculty will teach you the exact criteria used by VCs, and you’ll use that information to put together an impactful pitch deck for a new business.

Better yet, you’ll do it from scratch and learn to choose the right length, format, and deliverables. 

The course is self-paced and made up of five modules that can be completed in as little as 12 hours.

Price: Free

Sign up

Entrepreneurship Acceleration Program

University of Pennsylvania

This program gives students the tools and knowledge needed to be one of the 10% of startups that succeed.

By the end of this course, you’ll know how to:

• Choose the right business model
• Build a team
• Choose a suitable financial approach
• Scale your business

The three-month online course is self-paced and consists of 11 modules. 

Each module includes live and recorded videos, assignments, quizzes, discussions, and more.

At the end of the course, you’ll pitch to well-known VC firms.

Price: $1,950 (payment plans are available)

Apply here

Becoming an Entrepreneur 

MIT

This online, video-only course will walk you through the complete process of founding a company, from figuring out your goals and testing your idea to pitching investors and selling to customers.

You can learn at your own pace, and the course is designed to be completed in six weeks.

Price: Free ($69 upgrade available)

Sign up

Freedom Decoded

LuisaZhou.com

Most entrepreneurs quit their corporate jobs because they want a life of freedom and fulfillment. 

But when you’re one of the millions of self-employed Americans, it’s easy to fall into the trap of working more, not less.

In Freedom Decoded, I’ll show you the importance of having solid business systems in place and even give you templates that will streamline it for you. 

To learn more, sign up for the waitlist here.

Entrepreneurship Essentials 

Harvard University 

In Entrepreneurship Essentials, you’ll learn the Harvard Business School’s proven framework for successful businesses.

By mastering the framework – People, Opportunity, Context, Deal – you’ll better understand how to evaluate opportunities, manage your business, and handle finances.

The online course is self-paced and takes place over four weeks. You’ll need to be able to commit up to eight hours per week.

Price: $1,750

Sign up

Entrepreneurship Specialization

University of Pennsylvania 

Taught by Wharton faculty, UPenn’s Entrepreneurship Specialization is made up of five in-depth courses, including Developing the Opportunity, Launching Your Startup, and Growth Strategies. 

The specialization takes 20 weeks to complete. By the end, you’ll know how to create and test a business idea, develop a launch strategy, finance your business, and pitch to VC firms.

The specialization is done online for one to three hours per week.

Price: $79 per month

Sign up

Business Strategy from Wharton – Competitive Advantage

Wharton Business School 

Successful business owners must have a firm grasp of the market and know what it takes to succeed.

Getting and keeping that competitive edge is precisely what you’ll learn to do in this course.

Modules include enhancing effectiveness, identifying new ways to succeed, and doing competitor research.

The self-paced course takes six weeks to complete but is not beginner-friendly.

Price: Free ($199 upgrade available)

Sign up here

Advanced Business Strategy: Gaining a Competitive Edge

Harvard University 

Harvard faculty will teach you to create better business strategies and arm you with analytic skills that will keep you one step ahead of your competitors. 

You’ll spend three days on the Harvard campus studying business cases, taking part in discussions, giving presentations, and participating in group exercises.

To take this course, you should be familiar with the fundamentals of strategy and understand business economics.

Price: $4,100

Sign up here

Entrepreneurial Finance

MIT

If you’re interested in learning more about the financial side of entrepreneurship, this self-paced course is for you.

By the end of Entrepreneurial Finance, you’ll have the answers to your questions about raising money, including: 

How much can be raised? 

Who should it be raised from, and when? 

How should contracts be structured?

All lecture notes and readings are available for download.

Price: Free

Download it

Financial Accounting Fundamentals

University of Virginia 

This free course is part of UVA’s Growing Your Business Specialization.

It provides first-hand experience with Balance Sheets, Income Statements, and Statements of Cash Flow.

The self-paced course includes videos, activities, discussions, and quizzes, and takes about 13 hours to complete.

Price: Free

Sign up

How to Start Your Own Business Specialization

Michigan State University 

This course is perfect for entrepreneurs with an idea but no clue where to start.

You’ll work through the process of launching a business, including ideation, planning, and strategizing – and by the end of it, you’ll have a functioning business!

Modules include Developing an Entrepreneurial Mindset, Building the Frame for Business Growth, and 5 Steps to Capstone Experience.

The self-paced course requires 10 hours per week and lasts two months.

Price: Free

Sign up

Technology Entrepreneurship: Lab to Market 

Harvard University

Harvard and UC San Diego will show you what it takes to get your technology out of the lab and into the market.

By studying real-world examples, you’ll get a better understanding of how to match customer needs, align business and operations, evaluate the market, and more.

The self-paced course takes place online over five weeks. 

Price: Free ($150 upgrade available)

Sign up

Social Entrepreneurship 

Oxford University

Social Entrepreneurship is a great option for entrepreneurs looking to improve the world.

It’s comprised of 10 units, including Introduction to Social Entrepreneurship, Creating Social Change, and Human-Centered Design.

Each unit includes readings and exercises, weekly discussions, and mini-cases. You’ll also be able to interact with your teacher in a text-based forum.

The course is online and self-paced.

Price: $443+

Sign up

Entrepreneurship: Launching an Innovative Business Specialization

University of Maryland

This online course will equip beginners to bring their innovative ideas and business models to market.

The curriculum consists of four courses: 

• Developing Innovative Ideas for New Companies
• Innovation for Entrepreneurs
• New Venture Finance
• Entrepreneurship Capstone

You’ll learn to identify new opportunities, build profitable business plans, create winning pitches, and negotiate with investors.

The specialization is self-paced but designed to be completed in one month.

Price: Free

Sign up

Y Combinator’s Startup School

Y Combinator is one of the top startup accelerators in the world, and it will teach you everything about starting a company.

The curriculum includes modules like How to Plan Your MVP, Modern Startup Funding, How to Launch Your Company in the Press, and How and When to Apply to Y Combinator. 

You’ll also learn directly from well-known founders like Mark Zuckerberg and Anne Wojcicki.

The course is online and self-paced.

Price: Free

Sign up

E-Commerce Essentials: How to Start a Successful Online Business 

Skillshare

This class will teach you everything about launching your online business in just an hour.

You’ll learn to find your niche, evaluate the market, research your competitors, determine where to sell your product, and create a marketing strategy.

The course comes with a class workbook, templates, and more.

Price: Free (Skillshare membership required)

Sign up here

Ultimate Course Launch

LuisaZhou.com

Did you know that you can increase your revenue tenfold by creating and launching your own online course?

This kind of evergreen sellable asset is a great way to scale your business and make passive income – I talk about why in this video: 

And in Ultimate Course Launch, I’ll teach you how to do it.

I don’t recommend jumping headfirst into this course unless you’ve already started your entrepreneurial journey.

Get on the waitlist here.

Self Made

LuisaZhou.com

One of the most important parts of being a successful entrepreneur is being good with money.

And in my course, Self Made, I’ll teach you everything you need to know about getting into the money mindset and mastering it once and for all.

Join the waitlist to learn more!

Now that we’ve covered the best online entrepreneurship courses, let’s discuss whether or not they’re worth it.

Are entrepreneurship courses worth it? 

You can learn to be an entrepreneur on your own – but it takes years to fine-tune your strategy, land clients, or make a profit. 

Plus, nearly 20% of businesses fail in the first year.

I know that having a blueprint of exactly what to do would have helped me reach my goals more quickly.

At the end of the day, the time and money saved, along with the experience you’ll gain, make the best online entrepreneurship courses worth it.

But how do you pick the best online entrepreneurship courses for you? 

Let’s talk about it.

How do you choose the right online entrepreneurship course? 

Before you enroll in online entrepreneurship courses, be sure to ask yourself: 

Who created the course? 

Who you learn from will make all the difference, and you have two options.

You can learn from someone who has achieved what you hope to do, whether it’s launching a specific kind of business or becoming a successful entrepreneur. 

Or, you can take a course offered by a university like MIT or Harvard. 

Both are great options. 

A successful entrepreneur will have real-world experience and practical knowledge. 

And universities have a more structured framework and formal environment.

Regardless of the one you choose, be sure to take the time to research the creator. Read their reviews to make sure they have a good reputation and are credible.

What do I want to learn? 

It’s important to know your ultimate goal and understand what you need to learn in order to succeed.

So, when considering online entrepreneurship courses, make sure the one you choose covers every area you need.

If you want to learn a specific skill, I recommend choosing a specialized course tailored to that, like writing business plans for beginners.

And most importantly: 

Make sure the course content is aligned with both your business model and industry – different models require different strategies. 

For instance, launching a tech startup will look far different than establishing an online store.

Does this mode of learning work for me? 

Consider what’s going to be best for your situation. 

Take the amount of time you have, your preferred learning environment, and the pace you want to learn into account.

Do you like in-person or remote learning? Do you prefer the flexibility of self-paced remote lessons or the structure of live classes? Would you rather immerse yourself in the topic or learn in a shorter, condensed format?

Next steps 

There you have it! A complete list of the best online entrepreneurship courses available.

As you explore and consider your options, be sure to choose the course best suited to your needs and where you are in your journey. Whether you’re just starting out or want to scale your business.

In my course, Employee to Entrepreneur, I’ll teach you the exact steps I took to launch my own multiple-six-figure business.

If you’re ready to learn more, you can download the FREE PDF below. 

When you do, you’ll get a step-by-step blueprint that outlines exactly how to build your own business – the kind of business that allows you to ditch your 9-5 for good.

If you’re ready for a career with greater fulfillment and freedom, get the PDF here:

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

Get Instant Access To My FREE Ultimate Guide Below!

GET INSTANT ACCESS

When you sign up, you’ll also receive regular updates on building a successful online business.

Read more:

What is an Entrepreneur?

How to Become an Entrepreneur Without an Idea

How to Work for Yourself

The post 21 Best Online Entrepreneurship Courses in 2024 (complete list) appeared first on Luisa Zhou.

One of the best ways to learn how to build a business is to look at others who are where you want to be. 

And today, we’ll look at inspiring entrepreneur success stories to help you grow. Read on!

10 inspirational entrepreneur success stories 

How many entrepreneurs actually succeed? 

50% of businesses fail within the first 5 years. But those who DO succeed are people who built businesses people love and share characteristics like grit and creativity.

Here are ten entrepreneur success stories to help you think bigger.

Melanie Perkins, Cliff Obrecht, and Cameron Adams, Canva

While studying at the University of Western Australia, Melanie and her boyfriend Cliff saw their classmates struggling with graphic design software. They realized the need for a more accessible tool.

The goal was “to take the entire design ecosystem, integrate it into one page, and then make it accessible to the whole world.”

They first launched Fusion Books, a yearbook creation platform, in 2007. It was a success (and still operates today), but the bigger picture was to launch an all-encompassing design site.

So Canva was born. 

They began pitching to Silicon Valley investors in 2010 but got rejected 100 times before meeting Bill Tai, who connected them to interested investors. 

In 2012, they met their tech co-founder, Cameron Adams.

Canva officially launched in 2013 to a waiting list of more than 50,000 people. Its drag-and-drop interface, template library, and freemium model made it an immediate hit. 

By the end of its second year, it had more than 100,000 users and 1.8 million designs. 

Today, it has 135 million users and has been named one of TIME’s most influential companies.

Canva became a startup “unicorn” – a startup valued at $1 billion – in 2018. It currently has a valuation of $40 billion. 

As of 2023, it has an annual revenue of $1.7 billion.

Whitney Wolfe Herd, Bumble

Whitney Wolfe Herd, founder of Bumble, got her start as co-founder of Tinder. She left Tinder shortly after, in 2014, due to alleged sexual harassment.

She set out to make her own dating app, Bumble. Her goal was to do away with old-fashioned gender dynamics and make dating safer for women by allowing them to initiate the conversation.

At first, the idea was rejected because investors were hesitant about an app that defied social norms.

But Andrey Andreev invested $10 million, and the app launched in December 2014.

Within the first year, the app had 1 million users. Herd expanded Bumble to include options for friendship (BFF), networking (Bizz), and even international matches (Travel). 

The company has gone on to acquire Badoo, Fruitz, and Official. 

Today, Bumble Inc. operates in 150 countries and has over 50 million users – over 3 million of which pay for subscription-based models. 

The company went public in 2021 with a valuation of $8.6 billion, making Whitney the youngest self-made billionaire in the world. 

In Q3 of 2023, Bumble Inc.’s total revenue grew to $276 million, while the app’s revenue grew to $222 million.

Brian Chesky, Nathan Blecharczyk, and Joe Gebbia, Airbnb

In 2007, a design conference was being hosted in San Francisco – and several attendees couldn’t find a hotel room.

So two roommates, Brian and Nathan, decided to inflate a few air mattresses in their apartment and rent them out for $80 per night.

They called it Air Bed and Breakfast.

Realizing its potential, they reached out to their former roommate, Joe, to turn it into a business.

In 2008, they met with investors for the first time. Seven of the 15 investors they met with ignored them, and eight said no.

They didn’t want to give up but needed more funding. Ahead of the 2008 Democratic National Convention, they started making presidential-themed cereals (Obama O’s and Cap’n McCains) and made $30,000.

In 2009, they shortened the name to Airbnb and secured a $600,000 investment to continue growing it. 

And by 2011, it operated in 89 countries, had 1 million stays booked, and won SXSW’s break-out mobile app award. Airbnb also received $112 million in funding, reaching a valuation of more than $1 billion – it was a “unicorn.”

Today, the app has changed how we travel and has grown to over 7 million listings in 220 countries. It now goes beyond private rooms to offer entire homes and even experiences.

In 2023, active listings grew by 19%, and revenue increased to $9.6 billion.

Oprah Winfrey

Oprah has been a household name since the 80s, making hers one of the most popular entrepreneur success stories to tell.

Despite having an unstable childhood and growing up in poverty, Oprah became Miss Black Tennessee at 17. She was then given an on-air job at a Nashville radio station before getting a full scholarship to Tennessee State University.

After college, Oprah became an evening news reporter in Baltimore – but was fired for getting too emotionally invested in her stories.

Regardless, she didn’t give up.

In 1986, she became the first Black woman to host a nationally syndicated talk show (The Oprah Winfrey Show) in 1986. The show lasted 29 seasons and had 15 million viewers per day.

At one point, she was the highest-paid entertainer on television. 

Though the show went off the air in 2011, Oprah is still on the move.

She became the founder of Harpo Productions, CEO of the Oprah Winfrey Network, and co-founder of Oxygen Media. She also owns an equity stake in Weight Watchers.

Oprah remains heavily involved in her ventures and also focuses on philanthropy. She has founded Oprah’s Angel Network, the Oprah Winfrey Charitable Foundation, and was a founding donor of the National Museum of African American History and Culture. 

She has a net worth of $2.8 billion.

Larry Page and Sergey Brin, Google

Larry and Sergey met as Ph.D. students at Stanford University in 1995.

Both were getting degrees in computer science and wanted to find a better way to organize the information on the internet and make it accessible to everyone.

So, in their dorm rooms, they built a search engine that relied on links to rank and organize individual pages. They called it Backrub, but it would eventually be renamed Google.

In 1998, they received an investment of $100,000, and Google, Inc. was moved from dorm rooms to the garage of Susan Wojcicki (who would go on to be CEO of YouTube).

They toyed with selling the project to internet company Excite for $1 million the following year but couldn’t get the deal through, even when they lowered the price to $750,000.

So they held onto the company, even when Yahoo offered to buy it for $3 million in 2002. 

They made the right choice. Google stood out because it only offered the most relevant search results and had a minimalist design. 

When it went public in 2004, the company had a valuation of $27 billion.

Google continued to grow, expanding to include Adwords, Gmail, Google Maps, Google Earth, and Chrome. It even acquired assets like the Android operating system and YouTube. 

Today, “googling” remains synonymous with online search.

The company was restructured as Alphabet in 2015, which elevated Larry and Sergey from day-to-day operations to CEO and president of Google’s holding company. Larry was CEO from 2001 to 2011, and Sergey was President until 2019.

The company saw a 5% increase in revenue in 2023, totaling $297 billion. 

Jan Koum, WhatsApp

Jan Koum, founder of WhatsApp, is the epitome of entrepreneur success stories.

His family immigrated to California from Kyiv when Jan was 16 and relied on food stamps to get by.

His fascination with computers inspired Jan to learn computer programming. He got a job at Yahoo, where he worked while attending San Jose State University.

He stayed at Yahoo for almost ten years and met his future business partner, Brian Acton, there.

In 2009, Jan got frustrated with the number of calls he was missing on his new smartphone and wanted to create a platform that would make it easier for friends and family to know if he was available.

That was the only aim of the app he and Brian built, but they managed to democratize communication. 

WhatsApp – a shortened form of “What’s up?” – offered a simple, reliable messaging app that challenged the costs and difficulties of the traditional SMS system. It also protected users with encryption and refused to allow companies to advertise on the platform. 

Despite landing a spot in Apple’s app store, user numbers were low.

But within five years, it became one of the most popular forms of communication in the world. At this point, the app had 400 million users globally, especially in areas where messaging costs were high.

Meta bought the platform for $19 billion in 2014, making Jan and Brian billionaires. Today, it’s one of the largest messaging platforms in the world, with over 1 billion monthly users.

Jan and Brian both left Meta by 2018 due to disagreements with the company about privacy concerns.

While Meta won’t reveal the size of WhatsApp, experts estimate that revenue is likely between $500 million and $1 billion per year. 

Jeff Bezos, Amazon

Before founding Amazon, Jeff Bezos worked as a hedge fund manager in New York.

Recognizing the potential of the World Wide Web, Jeff left his job in 1994 to build a virtual bookstore in his garage. (Something his boss advised against.)

He called it Amazon, after the Amazon River, because he wanted his company to be the largest in the world.

After Jeff sold his first book in 1995, he never looked back despite challenges in raising funds. Of the 60 people he approached, nearly 40 said no.

But the remaining crowd each invested around $50,000 a piece into the venture. 

Despite the dot-com bubble bursting in the early 2000s, and Amazon not earning a profit until 2 003, Jeff’s work paid off. 

The company continued to grow. And instead of being just an online bookstore, it’s now a one-stop shop for almost everything.

Today, Jeff has expanded the company’s offerings to include Kindles, Amazon Web Services, Alexa, Prime Video, and more. The company even acquired Whole Foods Market and is pioneering palm payment technology with Amazon One.

But even more impressively, Amazon has set new standards for efficiency and logistics with the introduction of Amazon Prime and a two-day delivery guarantee.

Amazon went public in 1997 with an initial valuation of $300,000. Today, it’s worth more than $1.5 trillion and has a yearly revenue of $554 billion. 

Jeff stepped down as CEO of Amazon in 2021.

Jack Ma, Alibaba

Jack Ma is one of the wealthiest people in China – but it took some time to get there. And his story isn’t a stereotypical one – Jack Ma failed his entrance exam to Hangzhou Teachers College twice.

After graduation, he worked as an English teacher at the Hangzhou Institute of Electronics and Engineering, where he earned $12 per month.

But when he traveled to the US in 1995, he encountered the Internet for the first time. It made him realize there was a lack of Chinese websites – and he saw a business opportunity.

When he returned to China, he founded China Pages, one of the country’s first Internet companies. It operated as a directory of Chinese companies for foreign customers but failed soon after.

Finally, he founded Alibaba Group in 1999 in his apartment. The idea was that Alibaba would function as an online marketplace that allowed exporters to offer products that foreign customers could buy directly.

It caught on, earning $25 million in investments in just a few months. In 2005, Yahoo invested another $1 billion.

Under Jack’s leadership, Alibaba’s portfolio expanded to include Taobao, an eBay competitor, Alipay, and AliExpress. It has also expanded into different sectors, including cloud computing (Alibaba Cloud), entertainment (Alibaba Pictures), finance (Ant Group), communications (DingTalk), and more.

When the company went public in 2014, it had the largest IPO in US history, raising $25 billion. 

Today, the company is the largest e-commerce platform in China, with a revenue of more than $126 billion in 2023.

Jack stepped down as CEO in 2013 but remained executive chairman until 2020. After a regulatory crackdown on the Chinese tech sector, Jack now teaches English in Japan.

Sara Blakely, Spanx

Sara Blakely has one of the ultimate entrepreneur success stories. 

She was selling fax machines door-to-door in Florida when she realized the need for an undergarment that eliminated visible panty lines, made her look thinner, and could be worn with open-toed shoes.

So she cut the feet off a pair of pantyhose and wore them under her pants – and knew she was onto something.

In 2000, he founded the shapewear brand Spanx with $5,000 of her own money in her apartment. 

While she continued to work her day job, she spent her nights testing designs, developing prototypes, and searching for a factory that would bring her vision to life. She even filed for patents and created trademark designs on her own.

With her product in hand, she pitched her idea to department stores across the country before setting up shop in Neiman Marcus, where she sold Spanx at a table with her own pictures as marketing materials.

She caught a break in late 2000 when Oprah added Spanx to her product lineup, and sales skyrocketed. Another break came in 2004 when she competed on Richard Branson’s Rebel Billionaire.

By 2010, Spanx was one of the best-known brands in the country. Since its inception, it has grown to include clothing, intimates, swimwear, and leisurewear, and is sold in more than 50 countries. 

In 2012, the success of Spanx made Sara the world’s youngest self-made female billionaire at the age of 41.

In 2021, Sara sold a majority stake to Blackstone in a deal that placed Spanx’s valuation at $1.2 billion and saw Sara become executive chair. 

It’s estimated that Spanx earns $400 million in revenue each year.

Luisa Zhou, LuisaZhou.com

I’m including myself here to show you that not all entrepreneur success stories have a rags-to-riches arc – and mine is one of them.

The truth is, I never wanted to become an entrepreneur. I’m introverted, didn’t want to start a business, and didn’t know any entrepreneurs growing up.

I didn’t even have an idea.

So I focused on what my immigrant parents taught me – my successful career.

But then I had several family members with health emergencies, and I didn’t have the flexibility to be there for them.

I  knew I had to make a change, and started offering digital advertising consulting on the side.

That business started to grow. I was able to replace the income from my job, and then quit.

In a year, I made seven figures. 

And today, my business is an eight-figure business.

What’s more, it’s a business that feels incredibly fulfilling to me and, as I’m mostly supported by my team, I can flexibly work a few hours a week on my business.

Entrepreneur success stories don’t always start with a million-dollar idea. You just have to find a way to use the skills you already have. 

I did it, and so can you. I’ll talk about how in this guide.

What’s next? 

There you have it! 10 inspiring entrepreneur success stories.

You can become an entrepreneur, too – and launching an online business is a great way to start because you don’t need a lot of funding. 

I’ve helped thousands of people start their own businesses. And there are a few things those who go on to build successful, six, multiple six, or seven figure businesses have in common.

I’ll show you exactly what they are in this free blueprint:

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

Get Instant Access To My FREE Ultimate Guide Below!

GET INSTANT ACCESS

When you sign up, you’ll also receive regular updates on building a successful online business.

Read more:

The Top Characteristics of Successful Entrepreneurs

How to Think Like an Entrepreneur

Top Habits of Successful Entrepreneurs

The post 10 MOST Inspirational Entrepreneur Success Stories appeared first on Luisa Zhou.

Women typically need to break glass ceilings and go against other people’s expectations to grow businesses. 

And if you’re looking for the best ones to inspire you, you’re in the right place. 

Read on to learn more about how these top entrepreneurs got started. 

Top 10 successful women entrepreneurs in the world 

Today, an impressive one-third of businesses worldwide are owned by women. 

In the US alone, there are 13 million women-owned businesses – nearly half of all businesses!

So below, in no particular order, I’ve compiled a list of some most successful self-made women entrepreneurs and business leaders in the world based on their net worth and founder story. 

Now:

While all of these women are worth hundreds of millions or billions, you can start a successful business without a billion-dollar idea.

That’s what I’ve done with an 8-figure online business that’s extremely flexible and profitable. 

If you’re looking to quit your 9-5 and start a business, then the best place to start is to sell your existing knowledge. I talk more about it in this step-by-step guide on how to build a coaching business.

Next, let’s take a look at the most successful women entrepreneurs. 

Note: All net worths in this list are accurate as of January 2024.

Sara Blakely 

Industry: Fashion

Sara Blakely founded Spanx, a shapewear brand she started from her apartment with just $5,000 in 2000. She developed prototypes, tested designs, pitched the brand to department stores, and even filed for patents on her own.

She was rejected dozens of times before Neiman Marcus took a chance on the product. Today, Spanx, which has grown to include clothing, intimates, swimwear, and leisurewear, is sold in more than 50 countries worldwide. 

In total, the company earns an estimated $400 million every year. It is still privately held, though Sara sold a majority stake to Blackstone in a deal that valued the company at $1.2 billion in 2021.

In addition to being an entrepreneur, Sara is also a philanthropist. In addition to being the first self-made female billionaire to sign the Giving Pledge, she established the Spanx by Sara Blakely Foundation in 2006. It donates millions to charities that serve women and children.

In 2012, she became the world’s youngest self-made female billionaire at 41, according to Forbes. Today, she has a net worth of about $1.1 billion.

Oprah

Industry: Media, Philanthropy

Oprah Winfrey is a talk show host, the CEO of OWN, the founder of Harpo Productions and The Oprah Winfrey Foundation, investor, and more. 

In 1986, she made history as the first Black woman to host a nationally syndicated talk show, called “The Oprah Winfrey Show.” 

She then launched Harpo Productions, a multimedia empire that includes TV, magazines, and film, in 1986. It’s the brand behind television programming like “Dr. Phil,” magazines such as O Magazine, and movies like The Color Purple. 

In addition, she co-founded Oxygen Media and OWN: Oprah Winfrey Network, where she is still CEO. In 2015, she purchased an equity stake in Weight Watchers International.

She is heavily involved in philanthropy, having founded the Oprah Winfrey Charitable Foundation in 1987 to support women worldwide.

Today, Oprah has a net worth of $2.8 billion.

Whitney Wolfe Herd

Industry: Technology

Whitney Wolfe Herd co-founded Bumble, Inc. in 2014. She is best known for creating Bumble, a female-first dating app that revolutionized online dating, though she also co-founded Tinder in 2012.

Since 2014, Whitney has expanded Bumble, Inc. to include the online dating app Badoo. She has also taken Bumble itself beyond dating to include options for friendship (Bumble BFF) and professional networking (Bumble Bizz). 

Today, Bumble and Badoo operate in 150 countries worldwide, with more than 3 million paying users.

When Whitney took Bumble, Inc. public in 2021, she became the youngest self-made female billionaire in the world. She stepped down as CEO to become Chair of Bumble in January 2024. 

Whitney’s net worth is $510 million.

Melanie Perkins

Industry: Design

Melanie Perkins is an Australian entrepreneur known for her work as co-founder and CEO of Canva, an online graphic design platform.

In 2007, Melanie started Fusion Books, a company that helped students create yearbooks. She realized the need for an accessible, user-friendly design tool and began Canva in 2013. 

Using a drag-and-drop interface, the platform allows those without graphic design skills to create high-quality visual content. 

Under Melanie’s leadership, it became one of the fastest-growing software ever. Canva hit ten million users in just five years and became a “Unicorn” – a startup with more than $1 billion in valuation and sales. Today, it has over 100 million users in 190 countries.

Melanie’s net worth is $3.6 billion.

Tory Burch

Industry: Fashion

Tory Burch is the founder and CEO of the premium lifestyle brand Tory Burch.

She founded the brand in 2004, focusing first on footwear and clothing often described as “preppy bohemian.” Since then, she has expanded the company to include accessories, handbags, eyewear, fragrances, and home decor.

In addition to 370 stores in more than 60 countries, the company sells its products online, in department stores, and in specialty retailers. 

Tory also founded the Tory Burch Foundation in 2009, which provides education, capital, and mentorship to women entrepreneurs across the US.

She has won several awards for her work and has landed on Forbes’ list of the World’s 100 Most Powerful Women and Time Magazine’s 100 Most Influential People.

Her net worth currently stands at $1.2 billion.

Rihanna

Industry: Cosmetics, Fashion

In addition to being a Grammy Award-winning musician, Rihanna is the founder of Fenty Beauty, Fenty Skin, and Savage X Fenty.

Each brand is known for its inclusivity.

When she launched Fenty Beauty in 2017, the line offered 40 shades of foundation. Today, it has 50 and addresses the lack of representation for darker skin tones.

Fenty Skin also focuses on making great skincare routines achievable for skins of all types, tones, and backgrounds.

Likewise, Savage X Fenty is a body-positive, inclusive lingerie, sleepwear, and loungewear brand. It offers sizes ranging from XS to 3X, and its marketing campaigns feature models of all shapes, sizes, and backgrounds to better represent its audience.

In addition to her brands, Rihanna has collaborated with various companies for product endorsements, from sneakers to skincare.

Originally from Barbados, Rihanna ranked number 20 on Forbes’ 2023 list of America’s Richest Self-Made Women. She has a net worth of $1.4 billion.

Indra Nooyi

Industry: Food and Beverage

Indra Nooyi is the former chairman and CEO of PepsiCo. She made history by becoming the first woman to head a Fortune 500 company and was the first Indian-born CEO of a major global corporation.

She joined PepsiCo in 1994 as a Senior Vice President and worked her way up to President & CFO before becoming Chairman and CEO in 2006. 

Under her leadership, PepsiCo acquired several major brands, including Tropicana, Quaker Oats, and Gatorade. It also increased profitability, expanded into emerging markets, developed healthier products, and improved sustainability efforts.

Indra retired from PepsiCo in 2018 but serves on several corporate and nonprofit boards, including Amazon, Philips, and Memorial Sloan Kettering Cancer Center. 

She has been named one of Time Magazine’s 100 Most Influential People in the World (2007, 2009) and one of the most powerful women in the world by Forbes (2017).

Today, her net worth stands at $350 million.

Reese Witherspoon

Industry: Media

Though she’s become a household name as an actress, Reese Witherspoon also owns several successful businesses.

Her first venture, Draper James, was founded in 2015 as a Southern-inspired lifestyle brand that includes clothing, accessories, home decor, and cookbooks. 

In 2016, Reese founded a production and media company called Hello Sunshine, which focuses on female-driven stories. It has produced shows and films such as Big Little Lies, The Morning Show, and Where the Crawdads Sing.

Candle Media acquired the company for $900 million in 2021, though Reese still oversees day-to-day operations.

She’s also involved in philanthropy. 

In 2017, she co-founded Time’s Up Now, a movement and legal defense that fights sexual harassment in the workplace. 

Draper James also donates a portion of profits to charities that support women and children.

Reese has a net worth of $440 million.

Beyoncé 

Industry: Fashion, Beauty, Music

Since finding fame as part of Destiny’s Child in the 1990s, Beyoncé has won 28 Grammys and become a wildly successful entrepreneur with ventures in fashion, beauty, and music.

In 2010, she founded a media company called Parkwood Entertainment and took total ownership and creative control of her music, films, touring, and other ventures. She was one of the first high-profile artists to do so and is credited with paving the way for others to seek autonomy. 

Beyoncé went on to launch her athleisure line, Ivy Park, with Adidas in 2016. The line celebrates inclusivity and body positivity and features functional pieces like sneakers, leggings, and hoodies for all shapes and sizes. 

In 2015, Beyoncé’s husband, rapper Jay-Z, launched the music streaming platform TIDAL. Along with 14 other high-profile musicians, Beyoncé became part-owner of the platform and used it to release exclusive content, including music and visuals, for paying fans. 

In addition to these businesses, she has also partnered with major brands such as Balmain, L’Oréal, and PepsiCo. 

Her net worth is $800 million.

Anne Wojcicki

Industry: Science

Anne Wojcicki is the co-founder of 23andMe, a direct-to-consumer genetic testing company.

The company, founded in 2006, allows customers to explore their ancestry, health predispositions, and potential health risks through just one saliva sample. They can view their results online and connect with others who share the same DNA.

On a larger scale, it conducts genetic research studies, uncovers genetic factors related to health conditions, and offers a greater understanding of genetics in health and wellness.

As of 2024, the company has over 14 million genotyped customers.

Under Anne’s leadership, 23andMe has navigated regulatory challenges, secured FDA approval for specific health-related tests, and enhanced the potential of personalized medicine. When she took the company public in 2021, it was valued at more than $3.5 billion.

In addition to 23andMe, she founded the Anne Wojcicki Foundation, which pledges more than $20 million each year to causes like university research, healthcare, and youth services.

Anne also co-founded the Breakthrough Prize alongside well-known entrepreneurs such as Sergey Brin and Mark Zuckerberg. Called the “Oscars of Science,” it awards $3 million to those making breakthroughs in Life Sciences, Fundamental Physics, and Mathematics.

Anne’s net worth currently stands at $270 million.

Of course, this isn’t an exhaustive list. If you want to learn about more successful women entrepreneurs, keep reading!

Other notable female entrepreneurs 

Here are a few more female entrepreneurs:

• Zhang Xin, co-founder of SOHO China, a prominent Chinese real estate developer (worth $1.2B)
• Kiran Mazumdar-Shaw, founder of Biocon Limited, the second Indian company to reach $1 billion on its first trading day (worth $2.6B)
• Janice Bryant Howroyd, founder of ActOne Group, the first Black female-led company to earn more than $1 billion annually (worth $600M)
• Sheryl Sandberg, former Facebook COO, executive, and author (worth $1.9B)
• Ariana Huffington, founder of Thrive Global and The Huffington Post, which she sold for $315 million in 2011

But who was the first woman to grow a highly successful business?

That’s what we’ll look at next.  

Who was the first successful female entrepreneur?

Madam C.J. Walker was a Black female entrepreneur, philanthropist, and the first female self-made millionaire in America.

She developed and marketed a line of homemade beauty and hair care products designed specifically for Black women. The most popular was Madam Walker’s Wonderful Hair Grower.

She employed saleswomen called “beauty culturalists” when job opportunities for Black women were limited. They received job training and business opportunities, a pathway to financial independence.

Read on to discover the first female CEO.

Who was the first major female CEO? 

In 1963, Katharine Graham became president of the Washington Post Company publisher from 1969 to 1979.

During her time, the Post covered the Pentagon Papers and Watergate scandal to become one of the most powerful newspapers in America.

And when Katharine became CEO in 1972, making her the first-ever female CEO of a Fortune 500 company. 

She wasn’t the last. 

Andrea Jung became the first Asian American CEO of a major company (Avon, 1999).

Ursula Burns became the first Black female CEO of a major company (Xerox, 2009).

And Geisha Williams was the first Latina CEO of a Fortune 500 company (PG&E, 2017).

Next steps

There you have it! A look at some of the most successful women entrepreneurs in the world.

Starting an online business is one of the best ways to find entrepreneurial success.

You don’t even need a million-dollar idea, just a profitable one.

Trust me – I launched my own six-figure online business, and so have many of my clients. 

I’ll show you exactly how I did it in my free coaching blueprint:

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

Get Instant Access To My FREE Ultimate Guide Below!

GET INSTANT ACCESS

When you sign up, you’ll also receive regular updates on building a successful online business.

Read more:

What is an Entrepreneur?

How to Become an Entrepreneur 

How to Start an Online Business

The post 10 MOST Successful Women Entrepreneurs in Recent Years appeared first on Luisa Zhou.

A few characteristics.

And today, I’m going to tell you exactly what characteristics make for successful entrepreneurs.

Ready to dive in?

What is an entrepreneur?

Put simply: 

An entrepreneur is someone who has come up with and sells an innovative idea that solves a problem. 

Some of the most successful entrepreneurs include:

• Mark Zuckerberg (Meta)
• Elon Musk (Tesla)
• Jeff Bezos (Amazon)

But an innovative idea doesn’t always have to be a revolutionary one.

For example, Sara Blakeley launched a multi-million dollar line of shapewear (Spanx)…

…While Ben Chestnut launched the email platform Mailchimp.

The truth is: 

An entrepreneur can sell anything, including: 

• Services (like consulting, coaching, or freelancing)
• Informative products (like ebooks or courses)
• Physical products

What kind of entrepreneur you are depends.

Solo entrepreneurs run a one-person business; single founders run a team; and co-founders launch a business with someone else.

Keep reading to learn about the four types of entrepreneurs.

The different types of entrepreneurs 

Entrepreneurs launch and run four types of businesses:

• Small businesses, which have a revenue of up to but no more than $35.5 million, according to the Small Business Administration.
• Scalable startups, which are businesses that grow fast thanks to funding.
• Large companies and corporations, which have millions, billions, or even trillions of dollars in revenue each year.
• Social entrepreneurs, who run a for-profit business that works to have a positive impact on social issues or the environment.

There are also four categories of entrepreneurs to be aware of:

• Product-fixated entrepreneurs are focused on the product. For example, Apple founder and iPhone creator Steve Jobs was product-fixated.
• Explorer entrepreneurs are focused more on the problem than the scalability of the business and often join new ventures.
• Crusader entrepreneurs are focused on a company’s long-term mission. Ben and Jerry’s co-founders, Ben Cohen and Jerry Greenfield, are great examples of this. They wanted to improve their customers’ quality of life.
• Captain entrepreneurs are focused on the people. 

You can learn more about all of these types in this guide.

So, what traits make for the most successful entrepreneurs? 

You’ll find out in the next section, so keep reading!

10 key characteristics of very successful entrepreneurs

Entrepreneurs are a lot of things – resilient, creative, and passionate, just to name a few.

But they need specific characteristics to be successful.

And here are ten of the most important characteristics of successful entrepreneurs.

1. Willingness to fail 

The number one fear I see in new entrepreneurs is the fear of failure. 

Yes, even the most successful entrepreneurs are afraid of failure.

But here’s what sets them apart from less successful entrepreneurs.

They know that if they build their business with a mindset of “How will this work for me” rather than “Will this work for me,” there’s no reason they can’t be successful. 

So failure is part of building a business. 

When you use it to grow and build your resilience, you’re much closer to success.

Personally, I failed many times before I found success.

2. Discipline  

Successful entrepreneurs show up consistently, even when they don’t feel like it.

They know that they could be waiting forever if they sit and wait for inspiration or motivation to strike.

So, they approach building their business like a job from day one.

For example:

You might establish a strong morning routine that gets you excited to show up to work on your business every day – even if you only have a few minutes to do it.

3. Taking action

I can always tell who will be a successful entrepreneur by how they take action.

People who take a bit longer or find excuses won’t be hugely successful entrepreneurs.

For example, if a student asks for feedback or guidance on landing a client, I might suggest they talk to three potential clients in the next week.

If they come back and say that they didn’t get around to it, they’ll likely not find great success.

But if they took the feedback and built on it – for example, they talked to ten potential clients even if they were doubtful – it’s safe to say they’ll succeed.

4. Optimism

Successful entrepreneurs can focus on everything they’ve achieved instead of what they haven’t.

Let’s say you set a goal of making $10,000. (Which can feel impossible when you start with nothing.)

But if you focus only on what you don’t have – how much money you haven’t made – it’s easy to get discouraged.

The most successful entrepreneurs reframe the narrative and look at everything they’ve done.

“I built my business from nothing and have made $2,500!” sounds more positive than:

“I’ve only made $2,500 and still have $7,500 to go,” right?

5. Open-mindedness

One of the most important traits I look for in successful entrepreneurs is a sense of open-mindedness. 

What do I mean by that?

The most successful entrepreneurs know what they don’t know. 

In other words:

They know they don’t know it all and are open to learning.

This kind of learning continues even after you’ve found success. 

Entrepreneurs who succeed know that they’ll discover something new to learn at every new level they reach. 

So you have to be open to learning those things until you reach a point where you don’t want to grow or are at a good stopping point.

I talk more about it here: 

6. Perseverance

Persevering, even in the face of mistakes or failure, makes for highly successful entrepreneurs.

The truth is:

The most successful entrepreneurs have failed at least once.

But they think about how to make it work for them rather than whether or not it will work.

So, focus on what you can control: 

Where you are in your business and what’s next. 

By tailoring advice to and finding new solutions for your unique situation, you’ll find success no matter what.

You can learn more about the importance of perseverance in my guide to thinking like successful entrepreneurs do.

7. Curiosity 

Successful entrepreneurs never stop learning or asking questions.

Curiosity fuels innovation and problem-solving so you can build the best business possible. 

It also helps you better learn about and understand the needs of your customers, which will drive satisfaction and loyalty.

Most importantly, curiosity helps successful entrepreneurs build their resiliency so they can better: 

• Embrace change
• Change their strategies
• Solve problems effectively

So stay curious. Talk to your clients, check out forums relevant to them, and ask for feedback. 

Then, use what you’ve learned to improve your product.

I talk about curiosity in a deeper way in this video: 

8. Adaptability

The most successful entrepreneurs turn whatever they’re going through in their lives into something that fuels their business.

They don’t strive for perfection. Instead, they know that imperfections make for a better business.

Adaptability has been crucial to my success.

I use the good in my life to make things better.

And I turn the bad into something good by working through it and making it a teachable moment. 

I ask, “What do I need to learn, and how?”

Once I’ve done this, I use that new knowledge to fuel my business.

Learn more about adaptability in this video.

9. Taking calculated risks

Successful entrepreneurs aren’t afraid of taking risks because they drive innovation and growth – after all, no risk, no reward, right?

But they’re calculated risks. 

Research has found that people who take big risks actually have lower sales than people who are a bit more risk-averse.

I am very risk-averse but have still found success.

For instance, I didn’t just quit my 9-to-5 and build a business.

Instead, I chose a relatively risk-free business model and built it while still working full-time.

To this day, I always make sure to minimize my risk – because I’m the one responsible for my business. 

10. Setting boundaries  

Successful entrepreneurs know when and how to set boundaries. 

In other words:

They consciously decide not to let their business take over their lives.

I worked nonstop during my first two years – but it was okay because I knew why I was doing it.

I established boundaries around year three when I was more comfortable. Now, I sign off at 5 p.m. and only work on weekdays.

The key to setting boundaries is knowing what phase of your business you’re in, how much you want to work, and your goals.

Learn more about setting boundaries in this video: 

Keep reading for a few tips for becoming a successful entrepreneur!

4 proven tips to improve your entrepreneurial skills

Here are four tried-and-true tips for becoming a successful entrepreneur:

●      Listen more: Proactively listen to people! To this day, I speak with as many people as possible to find out what they want, their hesitations, and how I can help them. Feedback helps me create the best product possible.

●      Obsess over details: Successful entrepreneurs put themselves in the customers’ shoes. What is their experience with your business, from your website to your product? This will help you start noticing the little things that will make a world of difference. 

●      Have a clear vision and goals: You don’t need a big vision to be successful – you just need to know what motivates you. What are you working toward, and what’s driving you? 

●      Focus on people: When you focus on people instead of things like money or marketing, you’ll create products that solve a problem. For example, if I made a course just for the money, I would end up selling a product that didn’t do much. But by focusing on the people I wanted to help, I was able to create a course that actually helped them reach their goals.

You can hear more about these tips in this video: 

Next steps 

There you have it.

Now you know the top 10 characteristics that all successful entrepreneurs share.

Even the most successful entrepreneurs have to start somewhere. Entrepreneurship is a skill you learn.

How? 

Get my FREE blueprint that shows you how to build your own 6-figure online business: 

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

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When you sign up, you’ll also receive regular updates on building a successful online business.

Read more:

How to Become an Entrepreneur Without an Idea

How Many Americans Are Self-Employed?

Top Mindset Habits of Successful Entrepreneurs

The post Top 10 Characteristics of Successful Entrepreneurs You WILL Need appeared first on Luisa Zhou.

Today, we’ll look at the 10 most important entrepreneurship skills you need to sustain a thriving business.

Sounds good? Let’s dive in.

What are entrepreneurial skills?

There are about 31 million entrepreneurs in the US. 

Do you know what most have in common? 

Key entrepreneurial skills.

In other words:

They have characteristics and qualities that help them succeed as entrepreneurs.

Because if you want to create a thriving business, you need more than just a great mindset or a great business idea. 

Business ideas are actually pretty common. 

But it takes more to bring your dream business to life.

Luckily, the idea that entrepreneurial skills are innate is a total myth.

Entrepreneurship is learned.

If you’re willing to work on your skills, you’re more likely to succeed.

Next: 

Let’s talk about the top entrepreneurship skills you should develop if you’re thinking of  starting a business.

Top 10 skills successful entrepreneurs have 

So what are the most important entrepreneurship skills you need to have? 

Read on to learn more. 

1. Resilience 

Resilience is your ability to bounce back when things get tough. 

And the truth is, running a business can get tough sometimes, especially in the beginning when you’re figuring things out.

Sometimes, it’s your own fears and doubts that get in the way. 

Everyone has them. 

The difference is that entrepreneurs know that having fears and doubts is part of the process.

In other words: 

They change their perspective from “will this work for me?” to “how can this work for me?”. 

Ultimately, resilience helps you shift into a growth mindset and focus on what you can control.

That way, you’ll be able to face any setback or challenge that comes your way. 

2. Consistency

Successful entrepreneurs show up consistently – even when they don’t feel like it. 

When I started my business, I had a six-figure job in a tech startup. 

It was stressful and consuming (you can probably relate). All I wanted to do when I got home was watch Netflix. 

But I knew I wouldn’t fulfill my dream of becoming an entrepreneur by watching TV. So every evening, tired as I was, I got to work.

Bottom line: Running a business is NOT a hobby. 

You have to step into the mindset of a professional CEO. 

That means using discipline, not motivation, to show up and serve your clients. 

This is even more important when you’re transitioning from employee to entrepreneur. 

You might only have 20 minutes per day to work on your business. 

It’s up to you to make that time count. 

3. Courage

There are so many real fears you can face when starting a business.

You might fear…

• Success
• Failure
• Rejection
• Not having an idea (or not having the right idea)
• Being judged
• Going broke

And trust me, all entrepreneurs go through these fears at some point.

But there’s a saying:

“Feel the fear and do it anyway.”

This is the attitude you need to be a successful entrepreneur. 

I recommend practicing facing your fears with two simple reframes. 

First:

Remember that when you’re starting out, not many people are watching you. 

No one will notice the small imperfection that you notice.

Second:

Stop overthinking. 

Take action as soon as the inspiration and motivation hits so your fears don’t take over. 

The more you push past your fears, the braver you’ll get.

4. Growth mindset

Research by Carol Dweck shows that people generally fall into two camps: 

• Fixed mindset: The belief that your skills and talents are innate and you can’t change them.
• Growth mindset: The belief that you improve your skills can be developed through hard work, feedback, and practice.

Now, it takes effort to develop a growth mindset. 

When you’re struggling to learn something or trying to do something you’ve never done before, it’s natural to have a fixed mindset by default. 

For example:

When I started my business, I thought I was terrible at sales. 

I saw other coaches selling in a very specific way that didn’t work for my personality. 

But by shifting into a growth mindset, I learned the skills I needed to sell authentically. 

And now my business makes over seven figures. 

Tip: Write a list of skills you have and you don’t have. Then identify ways that you can grow the skills on both lists. Understanding that your talents can shift and change is key to developing a growth mindset.

5. Communication and listening

To become a great communicator, you need to develop these skills:

• Listening: Active listening means really taking in what others say and asking questions if you want more clarity.
• Empathy: When communicating, try to put yourself in the other person’s shoes. That will make them feel understood and make communication smoother.
• Remaining calm: It’s hard to stay calm in tough situations, but it’s essential for making clear decisions. If you react from an emotional place, you might make the situation worse.

6. Branding and marketing

So what is your “brand” as an entrepreneur? 

Let’s do a quick experiment. 

Think about Elon Musk and Oprah Winfrey. 

You probably know exactly what they do and how they do it. 

That is their brand. 

Successful entrepreneurs use their unique identities to help them differentiate themselves and attract their dream clients. 

But you can’t stop there. Knowing how to market your brand is just as important.  

By that, I mean having a solid strategy to put your services out there and reliably bring in clients.

Marketing skills take practice. 

As you understand your audience better, you’ll learn the most effective marketing strategies for your niche. (Check out this blog on marketing to learn more.) 

7. Problem-solving

Being an entrepreneur is not plain sailing. 

You’ll have tricky clients, team conflicts, failed launches, and more. 

It’s all part of learning and growing as a business owner. 

But what matters is what you do next. 

Problem-solving means understanding and strategizing when things aren’t going as planned. 

My advice? Keep things in perspective. 

You might be worried that you aren’t booking any clients right now. 

That’s a valid worry to have. 

But if you shift your mindset to reviewing your marketing process and identifying where you’re going wrong, you’re more likely to fix the problem.

If you’re worried about facing failures, this video might help:

8. Time management

As an entrepreneur, it’s easy to feel like you’re working all of the time – particularly if you’re building a business on the side of your 9-5. 

But a common mistake I see new entrepreneurs make is wasting time on the wrong things. 

Your day-to-day tasks need to make sense for the stage of business you’re at.

In the beginning, there’s a lot to do to get your business off the ground. 

However:

You need to prioritize the tasks that will bring you clients today. 

That means guest hosting on podcasts, interacting with your audience on social media, pitching your services within your network, and so on.

More advanced stuff like building sales funnels and hiring a team comes later. 

By focusing on the right tasks, you’ll be able to maximize your time. 

But that’s just one common pitfall I see my students make.

In this video, I break down the other three ways to improve your time management skills:

9. Motivation

Here’s the surprising truth: 

Motivation is unreliable. 

Let me explain.

Ever tried to build a gym habit purely on motivation? 

If you feel like it, you go. And if you don’t feel like it, you don’t go. 

Is that the best way to get fit? Of course not. 

And it’s the same for building a business. Like I said when we talked about consistency – you have to show up even when you don’t feel like it. 

But if you have no motivation at all to work on your business, you probably won’t get very far either. 

So how do you build self-motivation? 

I have two key tips. 

First:

Don’t base your motivation on external factors. Instead, focus on all the great things you’ve achieved so far to keep you going. 

Second:

Figure out a way you can make working on your business a consistent, enjoyable habit. 

For me, that meant curling up on my cozy couch every evening and working on my business for 30 minutes every day. 

After a while, it became a habit that I looked forward to – and that’s self-motivation.

10. Curiosity

You know one thing I see many of my entrepreneur friends all have in common? 

They are obsessed with learning. 

That could be experimenting with a new marketing channel or developing an online course that their clients will love. 

I was the same when I was starting my business. I wanted to get better at social media and create an online presence. 

So I studied the greats – viral social media influencers, celebrities, and colleagues I admired.

I got curious about what could work for me by experimenting with different formats and aesthetics. 

That curiosity led to a content formula that brings in over seven figures every year. 

And, I’m still experimenting! 

Getting curious about how to grow your own skills leads to a boost in mindset and growth in your business.

Top examples of the most important entrepreneurship skills 

Now you know what the TOP skills are.

But what are some other examples of entrepreneur skills? 

You know:

Skills that entrepreneurs need to master to become successful. 

Here are the top ones: 

• Leadership
• Financial skills
• Business management
• Strategic thinking
• Focus on customers
• Adaptability
• Creativity
• Networking
• Critical thinking
• Empathy
• Collaboration
• Time management
• Decision making
• Resourcefulness
• Delegation
• Salesmanship
• Self-confidence
• Patience
• Conflict resolution
• Negotiation
• Team building
• Public speaking
• Continuous learning

Next, let’s take a look at how to master these skills.

How to develop entrepreneurship skills 

You might be wondering: 

“Luisa, I don’t naturally have these skills. Can I still become an entrepreneur?”

Yes! If you put your mind to it, you can develop and grow these skills. 

How?

First: take action! Great entrepreneurs are action-takers. 

They don’t stay stuck wondering how they’ll reach their goals. They make a plan and get to work. 

Now what should your plan look like? 

Well, start by identifying the skills you want to improve.

Then use multiple sources to help you. 

Think:

• YouTube
• Podcasts
• Blogs
• Books
• Courses

You can even work one-on-one with a coach to help you learn certain skills faster. 

For example, when I started out, I worked with sales coaches, copywriters, and a lot of other experts to learn skills faster. 

(In fact, I spent multiple six figures just on learning.) 

But for an easy place to start, check out these articles: 

• The Most Successful Business Ideas
• How to Become an Entrepreneur Without an Idea
• How to Start an Online Business

Next steps

There you have it! Those are the top entrepreneurship skills you need to succeed as a business owner. 

But working on your skills and mindset is just the beginning. 

There’s much more that goes into being a highly successful business owner.

Want to know what it is? 

Grab my FREE strategy for building a six-figure online business: 

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

Get Instant Access To My FREE Ultimate Guide Below!

GET INSTANT ACCESS

When you sign up, you’ll also receive regular updates on building a successful online business.

Read more:

What is an entrepreneur?

Entrepreneurial Mindset: How to Think Like a Top Entrepreneur

How to Overcome Your Fear of Starting a Business

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