“I started eBay as an experiment, as a side hobby basically, while I had my day job,” recalls Pierre Omidyar. An unexpected success, that side hobby has today become the world’s largest personal online trading community.
The website hosts nearly four million auctions every day, with almost half a million new items being added for sale every 24 hours. Omidyar’s personal net worth is estimated to be roughly $10 billion.
“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?
“I was just pursuing what I enjoyed doing. I mean, I was pursuing my passion. It is not really work if you are having fun…that was the case with me. I always wanted to be involved with computers. Like most software people, it is very much passion more than anything else. The ability to create software that could have a benefit or an impact on people that used it was what was driving me.
You’ll fail at some things – that’s a learning experience that you need so that you can take that on to the next experience. What you learn from those challenges and those failures are what will get you past the next ones…I was the pretty consistent bull and the cheerleader on eBay actually.
Whatever future you’re building, don’t try to program everything. Five Year Plans never worked for the Soviet Union – in fact, if anything, central planning contributed to its fall. Chances are, central planning won’t work any better for any of us.
By building a simple system, with just a few guiding principles, eBay was open to organic growth – it could achieve a certain degree of self-organization. Build a platform – prepare for the unexpected…you’ll know you’re successful when the platform you’ve built serves you in unexpected ways. To truly prepare for the unexpected, you’ve got to position yourself to keep a couple of options open so when the door of opportunity opens, you’re close enough to squeeze through.
We believe people are basically good; we believe everyone has something to contribute; we believe that an honest, open environment can bring out the best in people; we recognize and respect everyone as a unique individual; we encourage you to treat others the way you want to be treated. I founded the company on the notion that people were basically good and that if you give them the benefit of the doubt you’re rarely disappointed.
So the only thing you can do is have a certain set of values that you encourage people to adopt and the only way your customers are going to adopt those values is if they see that you’re living those values as well. It’s all about treating each other the way you want to be treated yourself so that you can do business with one another.
We have to do it internally at eBay at the company as well, because if we don’t then eventually that seeps through, and customers will see that and that will harm our business. So our business is based on that. Nice guys, a responsible company that has its heart in the right place – that’s run by real human beings – it has to be successful, because if we weren’t that way, eBay would not be successful. eBay wouldn’t exist. It would not be possible.
You should pursue your passion. If you’re passionate about something and you work hard, then I think you will be successful. You have to really believe in what you’re doing, be passionate enough about it so that you will put in the hours and hard work that it takes to actually succeed there, and then you’ll be successful.“
Another great testament that living in the present moment with pure enthusiasm will result in great results. Wealth is a mind set not a bench mark to reach towards; an internal quality to live by every day.
He’s told this story before and it’s a good one. He left out the part that his girlfriend was an avid Pez dispenser collector and she wanted to sell them…so he created Auction Web. Call me strange but I like to picture his then-girlfriend as the hottest pez collector on earth, say -
http://www.derober.com/2008/03/04/the-new-bond-girl-is-smoking/
at least acknowledge the majority of ebay sellers hate the prick but are forced into using it because it’s a monopoly. I mean JEEZ.. it’s JOURNALISM people.. you don’t have to ask many sellers to realize that…
Wow! I love this interview. Very inspirational. I forwarded it to my hard-working, passionate team….great stuff!
Best,
Brian Kurth
Founder, VocationVacations
The thing about successful entrepeneurs is that they’re great opportunists. They prepare well and seize onto good ideas when they first spot them and don’t become distracted. If he really did start AuctionWeb because of his girlfriend, that’s a really sweet tale.
Pursue my passion? Awesome. I can’t wait to be the Emperor of the world.
I wonder out of all of the big web entrepreneurs, just how many of them worked on their projects while in full time work and then just decided to quit their day jobs and go for it with their projects, because i dont think you can do both.
I truly believe the secret to success is having fun. It’s nice to see that belief confirmed….
Dixon: I’ve read a book called “The Perfect Store” which said that the Pez dispenser story was made up so he’d get publicity from the newspapers. Sneaky, but it got the job done!
It’s a shame Omidyar’s original integrity and community vision don’t exist today at eBay. If they didn’t have the Microsoft-style lock on the market that they do, no one would want to put up with their “service.”
I don’t think another auction site could come along to dethrone eBay, but something else will have to. I can’t imagine twenty more years of eBay being the only option when you want to buy or sell stuff person-to-person online.
I had a vision while I was awake watching a show about ebay on msnbc or cnbc news station. The same journalist doing the interview with ebay was asking someone at ebay what happened? They were standing in front of one of the buildings at ebay that was empty and the grass was growing through the sidewalk. The vision was only for a split second. Most of my visions come true.
I do agree with those who take a negative view of eBay…I am one. Yes, the concept is good, it is even great. The problem is the people who are in the decision making positions at eBay. I was into eBay several years ago very heavy. Sold more outdoor teak furniture than any one on the Internet, not just eBay. Then, 9-11 came along and containers got held up in port, customers got dissatisfied and I said: “That’s it, I can not live this way any longer.” So, in a matter of weeks, I was out. I did not touch eBay until about 3 months ago, when I decided to give up some warehouse space that I had stuff stored in. So, I went back to eBay. What a nightmare! Now, not only is the customer entirely different, but there’s too many 3rd party unauthorized users, no response from eBay, no communication whatsoever, not even a return email. Questions go unanswered, emails do not receive a reply and the system simply drags on. I would just give up and say, “the hell with it” except for the many orders I have that I cannot fill (or, even invoice) due to the lock out placed on the account by eBay due to the unauthorized users. I have done all eBay wanted….changed passwords, etc., but still nothing. I can’t even get a reply from eBay. So, Mr. Omidyar you see where a “passion” like yours can take us. Your passion was never about community, never about computers, never about having fun…your passion was making money. Build it and get out, fast. Well, you did that and left a lot of people holding the bag. I have not communicated with one experienced eBayer who is now happy with eBay. TAKE THAT TO THE BANK, MR. OMIDYAR. James Morris, P.S. I agree with the person who said that eBay would not be around in 20 years. I think it is going to be more like 5 years, however. People are just plain tired of getting the same old bull.
Passion and hobbies, always an interesting and dynamic combination. I met with a client recently who wanted some help in updating her resume and focusing on what she really, truly wanted to “be.” We went around in circles for a while, until I asked her, “In your life, not your career but your life, what is it that you are passionate about, that you love to do, that is your favorite hobby or pursuit?” Surprised by the question at first, she began to tell me about those interests and hobbies – and she just lit up, became enthused, animated and happy. It was like sitting across from a different person.
That’s what it’s about, focusing in on that interest, hobby, passion – then exploring the opportunities available in that arena. Many people are not just hobbyists; by virtue of their interest and enthusiasm for a specific topic, they have become expert, or at least knowledgeable, in that field. The Internet offers us literally billions of opportunities to connect with people hungry for knowledge and information, products and services. If you seek out others who will value those specialized skills and knowledge, a whole new world of opportunity can present itself.
Blog about it, talk about it, share ideas and questions with others. Becoming an entrepreneur is about enjoying the journey and the people you meet along the way.
Happy trails!
Kim Washetas
http://scoutforsuccess.com
What an inspiration! Fantastic article! As a proud eBay supporter I can greatly appreciate this man, his dream and admire how far he has come. Brilliant!
http://AskDanna.com
He makes it sound so easy! For me, the hardest part is finding that niche that I am passionate about. I started http://www.upwardlifestyle.com to try and help others that may also be searching for their niche.
Thanks for the info!
I read your blog for quite a long time and must tell you that your articles are always valuable to readers.
Extremely inspiring individual with a wonderful story on how if you follow your heart and your values are in the right place good things will happen and you will attract people of the same mentality that can assist in building a foundation that can never be broken. Philanthropists such as Pierre Odimeyer and the like have contributed so much and continye to do so. We all have it within us to contribute in some way so find your passion reach for the stars and you’ll probably hit the moon.
To Yours and everyone elses Success!
Alex Faleye