Estimated reading time: 2 minute(s).
Advice from Self-Made Millionaires
Anyone Can Do It
Jason McGowan of Crumbl Cookies - Believed in his potential despite no baking experience. - "I never imagined in my wildest dreams that we would do over $1 billion in sales," McGowan said. Crumbl became a billion-dollar company.
Anne Mahlum of Solidcore - Emphasized persistence and hard work. - "The biggest thing I’ve learned through Solidcore is: You can do whatever you want to do, as long as you’re willing to do it." She made $88.4 million from her business.
Lean Into What Makes You Unique
Anne Mahlum - Highlighted the importance of leveraging individual strengths and uniqueness for success. - "I really believe in the power of uniqueness. When we... lean into our uniqueness, it really works in our favor, and it really has been a huge part of my success to do that personally and professionally."
Edward Tirtanata of Kopi Kenangan - Advised entrepreneurs to differentiate themselves. - "I think the best advice that I can give to fellow entrepreneurs is to be different. The next Starbucks is not going to look like a Starbucks, the next McDonald’s is not gonna look like a McDonald’s. The next Google is not going to look like a Google – you need to be radically different in order for you to compete against the incumbent." His coffee chain has over 800 locations and significant annual revenue.
Be Passionate
Shawn Tsao of Caviar - Stressed genuine passion for the product as a driving force through challenges. - "If you’re an entrepreneur and you’re really passionate about the product that you’re building — not because you just want the glory of being a CEO or a founder [but] you’re really passionate about what you’re working on — that will get you through the hardest days." His passion for sandwiches led to a successful food-delivery service sold for over $100 million.
Just Get Started
Jason McGowan and Anne Mahlum - Emphasized the importance of taking action and starting, even without complete resources or knowledge. - "One of the biggest lessons that I’ve learned from starting Crumbl is just to get started. Whether you don’t have a mixer yet, or you don’t have a recipe for a cookie, you just get started — you start doing things, you start moving," McGowan shared. - "Nike got it best, to ‘just do it.’ I have a phrase that says: ‘Just have a day one,’" Mahlum added. Early-stage action is crucial for building momentum.
Common Themes
- Belief in oneself and potential for success.
- Willingness to take risks and make sacrifices.
- Passion and persistence are key factors in overcoming challenges and achieving success.