Oracle is one of the leading tech companies in the world that offers database management systems for various sizes of businesses. On the other hand, many entrepreneurs don’t know how Oracle has achieved success in the market. Larry Ellison, who co-founded the company, has to face several challenges in his initial years, and he managed them effectively. Knowing the success story of Elision will inspire others who want to become future entrepreneurs. Apart from this, individuals can learn many lessons from Ellison’s life, and they can follow them to accomplish their goals.
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The best life and career lessons to learn from Larry Ellison
1. Not sticking to conventional ways of doing things
Ellison believes that entrepreneurs shouldn’t stick to conventional ways of doing things. He dropped out of school twice and didn’t want to pursue a college education. However, Ellison never lost interest in learning about computer design, and he doesn’t pay more attention to anyone’s rules. According to Ellison, success comes to entrepreneurs when they start playing by their own rules and breaking the rules set by others. Those who want to become successful entrepreneurs should step out of their comfort zone and start doing things when others are afraid to do them.
2. Reinvention drives more success
Entrepreneurs should focus more on progress when they want to become successful. Ellison never stopped growing until he retired from the company. He continued to work on various things at Oracle to reinvent himself. Furthermore, Ellison made great efforts to make Oracle the most successful data service provider in the world. Larry focused more on improving his thinking skills, which helped him start thinking from different perspectives, which resulted in more advantages. If entrepreneurs want to be successful, then they should learn more and reinvent themselves.
Great achievers are driven, not so much by the pursuit of success, but by the fear of failure
3. Winning and winning more brings success
Ellison faced several challenges in his professional and personal lives. However, he read the story of Genghis Khan, who always wanted to emerge victorious. As a result, he wanted to win more and more in his efforts, which enhanced the company’s growth. Although he has more money, his main objective is to make the world a better place for people by creating a positive impact on their lives.
4. Focusing on developing the right products
Everyone knows that Oracle is a top-tier company and has the best engineers and coders in the production department with limited numbers. A great product will improve customer loyalty and be robust in the market. Entrepreneurs should give more importance to teamwork because it provides ways to develop a product with innovative ideas. Oracle has spent more money on software engineering to make high-quality products for consumers, apart from marketing and promotions.
5. Executing the ideas properly
The success of a business mainly depends on its plans, which entrepreneurs should execute properly. Ellison has established himself as different from others because he knows how to implement ideas smartly that can work well for a business. Aside from this, he always wants to select ideas that will bring more success to a company.
6. Staying competitive
Entrepreneurs should learn how to stay competitive in the business market from different sources that help them reach the next level. Ellison considers competition a great motivator because it provides methods to learn many things, including money management, efficiently. Knowing the competition allows entrepreneurs to gain more knowledge and take advantage of opportunities to increase their business. Another thing is that they can select the best ideas to stand out from competitors in the market. Also, a business can build a high reputation and maintain a leading position while offering new products to consumers globally.