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Tips and Advice From Billionaires: How would you like to receive lessons on Success from the wealthiest people on the planet?
Well, you’re in the right place because today you’re going to do exactly that.
Welcome to Bounce Mojo’s take on the 10 Best Success Tips from Billionaires the world has ever seen.
We also have an actionable bonus at the very end.
1. LEAN INTO THE DREAM by Oprah Winfrey
It is my intention to fulfill the dream of the creator.
It is my intention to live to the highest calling and be pressed to the mark of the highest calling that I have come to do – and when you can ask the creator, ask that which made you, you.
“What is your dream for me?”
I guarantee you…
Instead of you trying to define the dream…
“What is your dream for me?”
If you’re able to lean into the dream that the universe and all the forces of light, love, power, and grace, by all the names that we call God, has for you, nobody can touch you.
Nobody can touch you.
2. HAVE PATIENCE by Bill Gates
When I say, “Okay, we’re going to build a TB drug team; we’re going to build the TB vaccine team; we’re going to build the “kill all the mosquitoes in the world” Gene Drive Crispr team.”
In terms of how we fund that, organize, decide on the number of locations, do we wait till they have this result?…
Before we scale it up, I get to use eighty percent the same type of thinking that I exercised in terms of “Okay let’s go do Windows let’s go do Excel.”
So, it’s backing engineers, it’s getting a sense of the team…
You know what needs to be added to that team or the IQs on the team adding up as opposed to subtracting from each other and it’s very comfortable because the most intense period of Microsoft was where these teams were about size 30…
And for our diseases – you know Typhoid, Rotavirus – there’s a lot of diseases that hopefully you’ll never hear of again, and most of which don’t exist here in the US.
It is very very similar.
It takes a decade generally, from start to finish.
The AIDs vaccine – actually we’re on year 14 and it’ll probably be another eight to ten years before that one is completely done.
Some take as long as 20 years because there’re many dead ends and you have a portfolio of approaches.
But yes, I feel like my working with governments, hiring smart people, and managing teams prepared me well for this very operational organization that’s a lot like a Business except that our profit is a life saved as opposed to a monetary measure.
3. BE FEARLESS by Tilman Fertitta
Host: Tell people your concept of the paddle.
Well, there’s a paddle for everybody’s a**, we all know that.
Every day you just get up.
I don’t fear anything but I worry about everything.
The day you stop worrying in good times, the paddle will get your behind.
As great as things are in life I know you’re only a few steps or a few incidents away from something bad happening.
You can never forget it.
Host: Did you have fear as a kid and you just got into enough business scuffles that you figured your way through things or have you always been fearless?
I’m pretty fearless but I do worry about everything.
Once again, you know the book and this is why Harper’s asked me to write the book because of all my Tillman-isms…
You got to know what you know, and what you don’t know.
I knew that I understood business.
Now don’t ask me to go win an Emmy.
I took guitar lessons for four years and I still struggle playing the guitar.
I can’t draw a stick person very good but I knew that I understood business.
I know what I know.
And I know how to do due diligence on a deal. I don’t worry about making a bad deal because I feel like
that’s what I know so, no fear when it comes to that.
4. NEVER GIVE UP by Elon Musk
2000, in particular, was awful because we had the third launch failure in a row of our falcon vehicle at SpaceX.
The Tesla financing that we were raising fell apart because the economy was going to tailspin and it’s pretty hard to raise money for a startup car company.
Late 2008, when Jim and Chrysler were busy going bankrupt… that was tough.
And then Solar City had to deal with Morgan Stanley…
And Morgan Stanley had to renege on the deal because they themselves are running out of money.
It looked like all three companies were gonna die and I was also going through a divorce so that was definitely a low point.
Host: So it’s 2008, you’re going through a divorce which some, to borrow your word, douchebag vloggers are writing about to make it even worse…
Yes, that’s true.
In addition to all that stuff happening, I was getting dumped on massively by the press…
Host: Why did you keep going with all three (companies)?
Even a lot of great entrepreneurs in that situation would have been like, “I’ve already sunk everything I have in these companies and I gotta pick one.”
But you didn’t. You kept doing all three.
Yeah, that was a very tough call.
At the end of 2008 that was probably one of the toughest calls, I’ve had to make because I could either reserve capital for one company or the other.
Before Solo City didn’t need a ton of capital – they were okay.
But between SpaceX and Tesla, it’s sort of like you’ve got two kids and what do you do?
Do you spend all your money to maximize the success of one or do you try to keep both?
Fortunately, it worked.
5. BE ETHICAL by Warren Buffet
Both of us know we’ve done better by having Ethics.
Warren’s not interested in making money by cheating people.
Warren’s opinions of Wall sStreet investment bankers would not endear him to their mothers.
He feels that they’re, for the most part, not out for their clients…
They’re out for their own business interests.
In the late 1960s, there was just a flood of Accounting shenanigans and mergers built upon false Accounting and misleading people.
It was a time when a lot of charlatans were prevailing in Wall Street and were being applauded by Wall Street…
I understood what the game was about but I didn’t want to play in it.
So I closed down the partnership at the end of 1969 and I took on the title of Chairman for Berkshire Hathaway.
6. FIND COMMON GROUND by Mark Zuckerberg
Host: Take me inside Mark Zuckerberg’s head to the moment that you decided you needed to change Facebook’s core mission.
Was there an event that happened or was there just a moment that you said we got to change something?
Well for most of the last 10 years, this idea that the world should be more connected was not very controversial.
Now, I think there are starting to be some people who question whether that is good.
This evolution, where for me and for a lot of the people I work with at Facebook, we feel like giving people a voice is a really important thing to do…
But it’s not enough to just give people a voice, you also have to help build common ground.
That way, people can move forward together and aren’t just sharing a lot of different opinions.
You have to help reconcile that so that way people can come together as well.
And you know…
That’s a lot of responsibility that we feel now and the mission that we want to take on for the next 10 years of the company.
Host: We keep hearing, “we’ve never been more divided, we’ve never been more polarized…”
Was it the Political Climate that led to this awakening?
I think it’s really this feeling of simply connecting the world is not enough by itself…
That you also have to work and do pro-active work to help bring people closer together.
You need to give people a voice so we can get a diversity of opinions out there but you also need to do work to help build enough common ground so that way, we can make progress as a society together.
So, you want to help people stay connected with the people they already know and care about but you also want to make it so people get access to new people and new perspectives too.
So we’re going to keep on doing everything that we were doing before…
… to connect friends and family and to help people share.
But now we also want to help people build communities and other ways they can connect…
and help people bond and come together…
and spread tolerance and a lot of the values that I think we all want to see in the world.
7. ALWAYS BE SELLING by Mark Cuban
If you come up with an idea where you say, “I can make dollar bills for 50 cents.”
Would you go out and raise money or would you just go out and sell it?
You just go out and do it.
That’s what you have to do and look.
We all go through that fear factor of “Do I quit my job? Can I do this? What happens next?”
The one thing I know with 100% certainty and what I would tell myself is…
If I can sell and become a better and better salesperson and be great at selling, I’m always going to be successful.
…whether I’m working for myself or if the company that I started just didn’t work…
I’ll give you an example…
Out of Indiana, before I went down to Dallas, I needed to start something.
I decided that since everybody drank milk and I found this product, powdered milk, that was cheaper, and everybody needed to save money…
I was going to go out there and sell it.
Because it was cheaper, it didn’t taste quite as good
But I went out there to try to sell it – failed miserably.
I learned how to make the sales effort even when things weren’t going right.
I learned that the rejection, every ‘no,’ got me closer to a ‘yes.’
… that not every product was perfect.
But I could take those same skills even in failure and translate them.
So what I learned selling garbage bags door to door…
What I learned from selling powdered milk that was awful…
What I learned from selling local area networks at micro solutions…
… all those things accumulated and I got better at selling so I always knew.
People always ask me, “If you lost everything, what would you do?”
I can sell.
And it’s not about selling ice to Eskimos…
It’s not about convincing people to do this…
Selling is always about helping. Selling is always about understanding the person you’re talking to and what their needs are.
And if someone can help me make my life easier… Yeah!
Now with employees, people always ask, “What’s the definition of a great employee?”
Someone who can reduce the stress of those around them and it’s the same thing.
What’s the definition of a great salesperson?
Someone who can reduce the stress of their salespeople and if in looking at your company, looking at your life, and looking at your goals…
If you’re able to go out there and recognize that whether it works or doesn’t work you’re putting yourself in a position where you’re helping somebody – not convincing somebody.
And you’re reducing their stress.
You’re gonna be okay. It’s gonna work out.
That’s the confidence I’ve built in myself that wasn’t necessarily always there.
I learned that if I try to help…
If I reduce people’s stress, good things can happen.
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8. BE HUMBLE by Ray Dalio
So 1989, -80, -81…
I calculated that American banks had lent a lot more money to emerging countries than those countries were going to pay back.
And I anticipated that there would be a debt crisis and with that, an economic crisis.
That was my thinking.
In August 1982, Mexico defaulted on its debt and a number of countries followed.
Because I said that, I got a lot of attention and I thought that was going to be producing a bear market in stocks and I could not have been more wrong.
August 1982 was the exact bottom of the Stock Market and I was wrong.
As a result of that, I had to let my employees go, I lost money for myself and I had to borrow four thousand dollars from my dad.
It was one of the most painful experiences but it was one of the best experiences that ever happened to me in my life because it changed my perspective about decision making.
It gave me the humility that I needed and fear of being wrong in my decisions while I was able to maintain my aggressiveness.
So, it changed my whole approach to decision making.
9. LOOK FORWARD by Jeff Bezos
I always tell people that sometimes we’ll have a good quarterly conference call or something and Wall Street will like our quarterly results…
People will stop me and say, “Congratulations on your quarter.”
I say thank you but what I’m really thinking is, “that quarter was baked three years ago.”
Right now I’m working on a quarter that’s going to reveal itself in 2021 and that’s what you need to be doing.
You need to be out two or three years in advance and if you are and then think, “why do I need to make 100 decisions today?”
If I make three good decisions a day, that’s enough.
And they should just be as high quality as I can make them.
10. EMPOWER YOUR TEAM by Jack Ma.
I know nothing about technology.
I know nothing about marketing.
I know nothing about the law…
All the stuff…
Host: What do you know?
I know people.
I know people, I was trained to be a teacher.
As a teacher you want your students to become better than you.
You want your best product to be your students.
You want this student to be a lawyer…
That student to be a banker…
That student’s going to be an entrepreneur…
And that student’s the mayor.
You don’t want a student to become bankrupt.
To be in jail…
To be in big trouble…
So you always want people to do better.
So, you have to listen to them.
You want to give them access to things that can empower them.
You can make them chief.
With teamwork, you can then collaborate.
This is what we do and I find that the more you care about your team, the team will care about you and the customers.
So I talk to my people early in the morning…
Don’t make me happy, don’t love me…
Go make your customers happy, make your customers love you and I will love you.
That is very simple.
In everything we do as a founder, make your customer happy.
Gather your team and make them happy.
In the end, you will also be happy.
BONUS: Tips and Advice From Billionaires
Grab a pen, get out your journal, and let’s get started…
- There are things that are stopping you from pulling the trigger right now. What’s holding you back? Is it your boss? Is it where you live?
Think of what you could do to eliminate some of those distractions so you can get around to pulling the trigger.
- What’s the one thing that you could do that would absolutely demolish these beliefs? Change your job, move house, go and earn a little bit more money…
What could you do to get rid of some of these distractions?
- What’s the first step that you need to take towards that one thing?
Get out your diary schedule some time so you can do that one thing.
Now it’s over to you and time to take some action.
Conclusion: 10 Success Tips From Billionaires
That’s a wrap…
What was your favorite lesson today?
Remember, if you want riches and success you need laser-beam focus…
Now it’s over to you and take some action.
Put The Bounce in Your Mojo Today