Jeff Bezos has always treated his business giant Amazon as a startup. His famous mantra of “It remains Day 1” shows that he continually demonstrates that his company should always be treated like it’s just starting up. Amazon now has over 560,000 employees, and over 100 million members with Amazon Prime, and yet is still treated as a startup. Bezos started Amazon in a garage as a book selling platform, before turning it into a store to sell ‘everything’.

Amazon found success almost immediately, and has grown into a business giant making Bezos the richest man in the world.

These are some tips from Bezos for startups.

Set high standards

Bezos holds the belief that high standards must be taught and maintained in a startup. If a company will operate with low standards, new employees that come on board will operate at the same level of standards. Keep the standards high, and they will strive for that high standard in their work. It’s also important to identify employees weaknesses, and aim for them to improve these.

Michael Dell is the CEO of the company of the same name, Dell Technologies. His story of building a startup into a technological empire is a common one among tech moguls, and through business ideas, focus and a vision, he built one of the biggest tech companies to grace the planet.

Dell started his business out of his dorm room whilst attending the University of Texas in Austin. With a $1000 investment from his parents, Dell had sold computers for a combined value of $80,000. By age 19, he left college in order to pursue his computer business, which ended up going public by 1988.

His business philosophy in this time was to gain market share by reducing delivery times, cutting down on costs and providing the customer with a high level of customer service. Hiring experienced executives to act as personal mentors as well as to fill in job roles within the company, he aimed to emphasize sales outside of retail outlets.

By 1992, Dell entered the Fortune 500 list, with Dell being the youngest CEO of a firm to achieve this.

In 2016, Dell oversaw what is considered the largest tech acquisition deal at the time, in which Dell acquired EMC, a computer-storage corporation, for around $67 billion. As a result, the public parent company Dell Technologies was formed, with Dell heading the company as CEO.

Michael Dell was able to build a technological empire by running his business initially out of his dorm room. Through business strategies and a philosophy focusing on the reduction of costs, high level of customer service and reduced delivery time, he was able to increase the company’s market share, to the point where the company grew in size and success.

Dell’s success continues to this day, and is a current billionaire.

It’s a well-known story that we hear commonly. A smart student or young entrepreneur has a brilliant idea, and decides to pursue it out of a garage or small office. Through the years, their startups success grows rapidly, and the brand becomes recognised globally. The owners become exceedingly wealthy.

With the likes of Jeff Bezos, Mark Zuckerberg, Bill Gates and other internationally recognised names all coming from the same humble beginnings, it’s no wonder that so many people are rushing to start their own startups in the hopes of being next in line.

These are some billionaires who got rich from startups.

Bill Gates

Bill Gates and his business partner Paul Allen started Microsoft out of a garage in 1970. Quickly taking a hold of computer industry by supplying software to IBM, Microsoft dominated the market. Following this, Microsoft’s success continued to grow, resulting in it having a hand in almost every electronic transaction worldwide.

Jeff Bezos

Jeff Bezos, the richest man in the world, started business giant Amazon in a garage. Originally, Amazon was formed to sell books through an online platform. Popularity of the service skyrocketed, with sales up to $20,000 per week within 2 months. Amazon ended up becoming an ‘everything store’, which is now a business giant.

Mark Zuckerberg

Originally starting Facebook as Facemash in his Harvard dorm room, Zuckerberg was heavily criticised for his creation in which you compared photos of students and voted on who was more attractive. Following this, Facebook was born as a social media networking site for Harvard students.

It later expanded to further universities and colleges, then high school students and then anyone could join as long as they were 13 years old or above.

Facebook became one of the most popular social media platforms in the world.

These are some billionaires who made their success through startups with humble beginnings.