Essay Sample: Lessons Learned from Joe Gebbia Story

Published: 2022-04-26 23:39:43
Essay Sample: Lessons Learned from Joe Gebbia Story
Type of paper:  Case study
Categories: Business Biography Personality
Pages: 3
Wordcount: 709 words
6 min read
143 views

The first lesson learned from the story is always curious and avoid any form of shamelessness. They had no business neither entrepreneurial skills from any school, but their curiosity led to them being successful in managing a multi-billion company.

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Another most important lesson learned from this story is acknowledged bumps on the road to success and act to the response. Joe Gebbia and his colleagues experienced a lot of bumps along their establishment, but that didn't keep them from responding and achieving their target. Be persistent in what you are doing.

Conclusively, from the story, one can learn always to grab the little opportunity which arises even if it requires moving a step ahead of the rest. For example, Joe and his colleagues explored every little opportunity which came their way, and this contributed to their way out.

#1: Ways Joe Gebbia found capital for starting his business

Joe Gebbia started Airbnb in late 2007 in San Francisco after graduating from college and with no employment. They decided to buy airbed and breakfast where they could host guests who came to San Francisco for $80 per night. The duo also made their capital through the selling of breakfast cereals termed the Obama O's and Cap's McCain which earned then good money. Another source of capital was from Y Combinator (National Public Radio, 2016).

#2: What were the early challenges?

This Airbnb idea had some early challenges. People couldn't accept the idea of hosting a stranger in their home due to the traditional concept of not accepting strangers. This contributed to the early public resistance to the idea. Additionally, the founder had no money due to lack of employment since they had just graduated from college and rent burden was high on them. Another early challenge was lack of investors to invest in the idea as they tend to approach many investors and none of them could consider taking in the idea (National Public Radio, 2016).

#3: How did he react to initial success?

In their first initial success which was selling breakfast boxes which earned them a whopping $30,000. They thought this was the best way to go for and it opened other ways of getting funds. This was like a dream come true for them although it seemed to have changed their initial idea of Airbnb (National Public Radio, 2016).

#4: Was it a continuous increase in sales and opportunities or did he hit a few bumps in the road?

The business wasn't a continues sales as it depends on conferences and international meeting with a large number of guest, for example, the Obama Democratic National Convention in Denver. It, therefore, hit some bumps in the road such as reduction in a number of guests when there wasn't any important convention that would attract many guests which could exceed the hotel bookings (National Public Radio, 2016).

#5: What were his strategies?

Joe Gebbia used strategies of taking the slightest opportunity which arises despite its nature. Provided the idea was good to go, Joe could use it as an opportunity and explored it. For example, having learned of the 2008 Obama Democratic Convention in Denver and many guests expected to come beyond hotel capacity, he launched the Airbnb to help in providing accommodation for guests who could not secure rooms in hotels (National Public Radio, 2016).

#6: Consider how you (or another entrepreneur) can learn from this example.

Joe story is educative, and any individual with entrepreneurship idea should listen to it. Despite the ups and downs in the road to entrepreneurship success one should not quit but leave to its implementation, and one day it will be a success. For example, Joe had bumps along his road to success, but that didn't stop him from reaching to a $20 billion company.

#7: Were there mistakes that he made that you would be wise to avoid?

Joe tends to be cautious in his walkthrough which made him avoid a number of mistakes. I, therefore, don't see any mistake he made that would be wise to avoid as an entrepreneur. He could always explore every possible route to success, and this was good.

References

National Public Radio (NPR). (2016, October 17). Listen Now: Airbnb: Joe Gebbia. Retrieved from https://one.npr.org/?sharedMediaId=497820565:497945288

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