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Billionaire Mindset, Billionaire tips, Book, Business success, Communicating your way to Success, Communication, Customer, Employees, Mindset, Product, Success Coach, Success mindset
Billionaires are probably those people who you look at and think: “Man, if only I could be like them.”
One thing we have to understand is that billionaires don’t become billionaires simply by waking up one morning and deciding, “Today, I will become a billionaire.” I honestly wish it were that easy. These guys work hard, or at least inherit their billions from relatives who worked so hard. Yet even then, billionaires have to maintain a certain mindset and develop a set of values of standards below which they don’t operate.
In this article I share advice from 10 billionaires. Embrace these tips, make them your own, connect to the advice that speaks to you the most, and who knows! You might find yourself smiling to the bank.
Advise 1.”Your most unhappy customers are your greatest source of learning.”~ Bill Gates
Meaning that your company’s most unsatisfied customers — the ones who are downright disgusted with your product — are the ones who know your product’s flaws best. Find them. Learn what they hated about their purchase and what changes they would recommend, then take their advice and build a better product.
Advise 2. “Rule #1: Never lose money. Rule #2: Never forget rule #1.”~ Warren Buffet
Anything that makes your business lose money is no good. If you aren’t seeing returns from a strategy, either improve it dramatically or throw it out the window altogether.
Advise 3. “In business, by the time you realize you’re in trouble, it’s too late to save yourself. Unless you’re running scared all the time, you’re gone.” ~ Bill Gates
When in business, stay present, find time to relax your mind, be openminded and flexible. This is the best way I can interpret this advice.
Advise 4. “A business absolutely devoted to service will only have one worry about profits. They will be embarrassingly huge.” ~ Henry Ford
Simplified, your customers should be your number one focus. Remember, they are king.
Advise 5. “When you’ve got 10,000 people trying to do the same thing, why would you want to be 10,001?” ~ Mark Cuban
Be innovative, be different. Take the road less travelled. Be creative.
Advise 6. “As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. I have to be good at helping people run the individual businesses, and I have to be willing to step back. The company must be set up so it can continue without me.” ~ Richard Branson
Advise 7. “In your company or industry, work every job in that industry. It’s the only way of having a complete understanding of your people and your company.” ~ John Catsimatidis
This means that before hiring employees to run your business, remember to try your hand at the work of every job possible in your company. It gives you a better understanding of how things work in your business and how to streamline its efficiency.
Advise 8. “Ten minutes are not just one-sixth of your hourly pay; ten minutes is a piece of yourself. Divide yourself into ten units and sacrifice as few of them as possible in meaningless activities. Most things still remain to be done.” ~ Ingvar Kamprad
Simply, do not waste time on unproductive things.
Advise 9. “When there is a crisis, that’s when some are interested in getting out and that’s when we are interested in getting in.” — Carlos Slim Helu
Implying that, don’t be afraid to investigate an industry/niche that seems to be going downhill. Just make sure you do your research beforehand so that you know you have the ability to turn things around with your company. Have the confidence to believe in your skills and expertise.
Advise 10. “Never count on making a good sale. Have the purchase price so attractive that even a mediocre sale gives good results.” ~Warren Buffet
Pricing is one of the most important aspects of your business. Don’t wing it. Find the perfect balance, where any sale — good, bad, or mediocre — can give you good results.
Video with tips can be accessed by clicking on this link – https://www.youtube.com/watch?v=JeH5wPIhh64
Please note that the above tips were borrowed from Jonathan John, of foundr.com
This article was published by Dr. Jacinta Mpalyenkana, PhD, MBA, a published author, transformational coach, counselor and speaker. For more about her, please visit, http://www.tapthegood.com