The Gateway to Success: How Omidyar Became an Overnight Billionaire

“When you look at the accomplishments of accomplished people and you say, ‘Boy, that must have been really hard,’…that was probably hard,” says Omidyar. “And conversely, when you look at something that looks easy, that was probably hard. And so you’re never going to know which is which until you actually go out and do it.” Whether Omidyar’s accomplishments look easy or not, they are undoubtedly significant, having not only revolutionized the way people do business, but making a multi-billion dollar fortune along the way. How did he do it?

Confidence: Omidyar was a risk taker, and he believed in himself enough to follow through on his gambles. He quit his day job to put all his energy behind an idea that most people thought could never work. Others might have doubted his vision, but he refused to give up. Omidyar remained committed to his goals and knew he had what it takes to see them through.

Passion: “I want people to be entrepreneurs,” says Omidyar, “but I want them to do it for the right reasons, because they think they can change the world, because they think they have got something of value to give to the world. Not because they think they can make a lot of money.” From day one, Omidyar knew he had a passion for computers and nothing was going to stand in his way from that pursuit.

Principles: “Fundamentally, everything we do in human activities is related to trade and there’s something, I think, that’s wired in human beings that drives us to commerce,” says Omidyar. “But you know, so very, very quickly, I learned that it was actually the human element that was really driving it more than the commerce.” Omidyar’s insistence on creating a community based on the principle of respect supported the building of trustworthy relationships, and thus further fueled his success.

Preparation: “You can’t predict growth and success – no one in their right mind would predict 30 percent monthly growth for another year every year,” says Omidyar. Indeed, no one, not even Omidyar himself, could have predicted the rapid growth eBay experienced in its first few years. Nevertheless, he positioned his company in such a way that it would be able to seize whatever opportunities came its way.

Determination: “Be an enzyme – a catalyst for change,” suggests Omidyar. “As a slogan, I don’t know if that’s ever going to be right up there with ‘Ich Bin Ein Berliner’, or ‘I Have A Dream,’ but there’s a lot of truth to it.” Through the ups and downs, the service disruptions and the disbelievers, Omidyar remained committed to making his company a success.

Omidyar grew up in a technological world that was primarily concerned with building software packages. Today, in a more interactive world of global communication, he notes that entrepreneurs have abundant opportunities in front of them. “I think it is exciting to see what kinds of ideas they will come up with, things the world has never seen before,” says Omidyar. “That is what I’m waiting for.”



The Gateway to Success: How Omidyar Became an Overnight Billionaire

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