The Richest African Billionaires (Entrepreneurs): Five Business Lessons I learned from them

Who are the richest African billionaires (entrepreneurs)? What’s the secret to the success of the richest billionaires in Africa? How did they make their money? Well, I will advice you read on.

In this article, I will be sharing with you the five business lessons I learned from the richest African billionaires. This article will strictly be focusing on the billionaire entrepreneurs in Africa; and the emphasis will be on the lessons learned including the secrets to their success.

If you are interested in their net worth or wealth value, then Forbes magazine is the best place to spend your time. But if you are more interested in the behind-the-scene secrets to the success of the richest African billionaires; if you want to know how they made it in the harsh business terrain of Africa, then read on as I share with you the five business lessons I learned from the richest billionaires in Africa.

Who are the Richest African Billionaires?

The following entrepreneurs below have made it to the Forbes list of world richest billionaires at one time or the other. The lesson of this article is not in their amassed wealth so this list is in no particular order. The lesson lies in how they made it.

The Richest Billionaires and Entrepreneurs in Africa

1. Mo Ibrahim: Sudanese billionaire and founder of Celtel

2. Aliko Dangote: Nigerian Billionaire and founder of Dangote Group. (Currently the richest black African; richest black man and the richest black person in the world as at 9^th March 2011).

3. Patrice Motsepe: South African billionaire and founder of Africa Rainbow Minerals

4. Mohammed Al Amoudi: Ethiopian Billionaire

5. Mike Adenuga: Nigerian Billionaire and founder of Globacom, Conoil and ETB

6. Femi Otedola: Founder of Zenon oil and gas (No longer on the list as at 2012)

7. Nicky Oppenheimer: South African billionaire

8. Nassef Sawiris: Egyptian billionaire

9. Johan Rupert: South African billionaire

10. Naguib Sawiris: Egyptian Billionaire

11. Onsi Sawiris: Egyptian billionaire

12. Mohammed Mansour: Egyptian billionaire

13. Yassen Mansour: Egyptian billionaire

5 Business Lessons I Learned from the Richest African Billionaires

Lesson one: Problems are opportunities

The first business lesson I learn from the African billionaires is that problems are not what they seem to be. They’ve taught me that problems are simply opportunities in disguise. Africa is often regarded as the third world; a continent engulfed in strife, political poverty and corruption.

Yet, in the midst of all these; some men stood their ground and built wealth where the poverty level is rated high. What lesson does this entail? The lesson here is simple: people’s problems are simply avenue to generate wealth; if only you can position yourself as a problem solver. The billionaires in Africa listed above were critical problem solvers; and that was why they became billionaires.

What is the Primary Duty of an Entrepreneur?

Mike Adenuga and Mo Ibrahim solved the telecommunication problem in Africa; Aliko Dangote provided the basic needs of Nigerians and Africans in general while Patrice Motsepe helped Africa maximize her potentials with respect to mineral resources. So regardless of your region or predicament; just focus on solving problems and you may join this list of richest Africans.

Lesson two: Money is not seen with your eyes

The second lesson I learned from Africa’s richest billionaires is that money is not seen with your eyes. If money can be seen with the eyes; the world would probably be running down to Africa because of the potentials she holds; but unfortunately, money is not seen with the eyes.

While others see Africa as a poverty stricken continent; these billionaires saw the hidden potentials in Africa. While others were screaming “stay away from Africa”, these men stood their grounds and invested in Africa and that’s why they became billionaires. Once again, I restate the lesson; money is not seen with your eyes. You can only see money with your mind; that’s if your mind has been trained to spot business opportunities amongst problems.

Lesson three: Concentrate on your strength

How do you become a billionaire? This is one question most people ask online. Well, there are several factors to becoming a billionaire and one of such factors is concentration. Take a close observation of the richest billionaires in Africa and you will note that they concentrated on their core strengths. They did not diversify their effort; they concentrated on what they know how to do best.

Aliko Dangote concentrated on commodities; Femi Otedola concentrated on diesel, Mo Ibrahim focused on telecom and Patrice Motsepe concentrated on mineral mining. So if you are going to achieve extraordinary success; if you want to build a success business empire, then you must learn to concentrate your efforts on your core.

Lesson four: Understand your business to the core

Why did the richest billionaires in Africa concentrate on a core business? The answer is simple. They concentrated because on one line of business because they understood that line to the core. To build a success business, you must understand your business to the core; you must know its intricacies and numbers.

Lesson five: Despise not the days of little beginning

This fifth lesson is actually a verse I extracted from the holy bible. I extracted it because it’s in line with the lesson I am trying to buttress. Of all the lessons I learned from the richest African billionaires; this is the most important. Despise not the days of little beginning.

Aside the Sawiris family who inherited their wealth; the remaining African billionaires did not attain wealth by sudden flight. They worked their way up from the scratch. This lesson is very important especially for aspiring entrepreneurs that want to start a business. Building a business is not a one hit affair; success in business comes in bits and little winnings. Overnight success will not happen; so forget it.

Aliko Dangote did not become the richest black man in the world overnight; it took him 30 years to achieve it. None of the richest men in Africa achieved wealth overnight; they amassed wealth in bits. So if you aspire to become a millionaire or billionaire; if you aspire to build a business conglomerate, then start small and stick to the entrepreneurial process. Remember, Rome was not built in a day.

As a final note, these are the five business lessons I learned from the richest billionaire entrepreneurs in Africa. Do you want to replicate their success; then adhere to these business lessons and I will see you at the top.

Seven Business Lessons from Warren Buffett

Warren Buffett is one of my most respected business mentors. Most people recognize Warren Buffett as the richest investor in the world and he absolutely is. But what most people has never given a thought is that Warren Buffett is an entrepreneur; a successful entrepreneur to be precise.

Forbes magazine regards Warren Buffett as the man that made his entire fortune from the stock market. While they may not be wrong, I think this fact is been misinterpreted. Wealth is not judged by one’s activity; it’s the “behind the scene” business that makes the big difference. Warren Buffet did not become a billionaire by buying and selling stocks; he became a billionaire by building Berkshire Hathaway.

Building a business (Berkshire Hathaway) and selling shares to the public is what made Warren Buffett a billionaire; not trading stocks. And I think it’s worthwhile you know that Warren Buffett doesn’t invest in stocks; he buys businesses. He’s not interested in the stock price; he’s more interested in the “business” of a business.

Now what does it take to buy a business successfully? It takes business intelligence to spot a good business and you can never acquire such intelligence unless you are a business owner. This is why I regard Warren Buffett as an entrepreneur as much as an investor.

I got the inspiration for this article by asking myself this question: if Warren Buffett was to invest in my business, what would he look out for? So it’s based on this finding that I bring to you seven business lessons I have learned from Warren Buffett.

Seven Business Lessons from Warren Buffett

1. Understand your business to the core

“Never invest in a business you can’t understand.” – Warren Buffett

If there’s anything Warren Buffett understands to the core; it’s Berkshire Hathaway. Why? The reason is because he has been in the financial services industry for years and has a wealth of experience running Berkshire Hathaway.

When the dot com boom began; many entrepreneurs and companies were jumping to start their own web based business but Warren Buffett refused to budge because he doesn’t understand the technology industry. He only understands financial service businesses and he has stuck to this industry.

“If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.” – Warren Buffett

2. Know your numbers

"Accounting is the language of business." – Warren Buffett

How well do you know your business numbers? Every business operation or dealing must reflect in the book; now the question is: how well do you understand the books? It’s said that cash flow is the life blood of business. How do you manage your business cash flow if you don’t understand the books?

I think the message Warren Buffett is trying to stress here is the importance of financial literacy and accounting. You can never have maximum control of your business if you don’t understand its numbers. By knowing the numbers of Berkshire Hathaway; Warren Buffett has kept the company financial position strong, even in times of recession.

3. There’s no absolute business failure

When Warren Buffett took over Berkshire Hathaway; it was an ailing textile company. Yet, Warren Buffett stepped in with a resolve to turn around its finances. Did he succeed? The answer is no. Berkshire Hathaway was already a dead business and a failure but Warren Buffett was able to see what others couldn’t see; its subsidiaries. Armed with these uncovered assets; Warren Buffett repositioned Berkshire Hathaway to become one of the most valuable companies in the world.

This incidence emphasizes Warren Buffett’s lesson that there’s no absolute business failure. Even a dying business has some underlying assets; but it will take a trained eye to discover such asset. That’s the more reason why you should know your numbers; assets are identified through the numbers.

4. Management is vital to running a successful business

"When a management with a reputation of brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact." – Warren Buffett

It takes an entrepreneur to successfully start a business but it takes a competent management team to sustain and grow that business. Management is one of the key features Warren Buffett looks out for when buying a business because with a sound management, sustained profitability is sure.

“Somebody once said that in looking to hire people, look for three qualities; Integrity, intelligence and energy. If they don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without the first, you really want them to be dumb and lazy.” – Warren Buffett

5. Pick your associates carefully

Who are your business associates? Who is your business partner? Who are the members of your business team? Warren Buffett’s success in business and investing can be attributed to his long standing friendship and partnership with Charlie.

Entering into partnership is like marrying a wife; if things don’t go as planned, it might leave a bitter taste in your mouth. So pick a partner who you have a long standing friendship with; pick a partner with a positive mindset and most importantly, choose a partner whose strengths complement your weaknesses.

"It is better to hang out with people better than you. Pick out associates whose behavior is better than yours and you will drift in that direction." – Warren Buffett

6. Think long term

The reason most businesses fail is because the entrepreneur or management is too short term focused. The ability to think long term is a lesson I learned from Warren Buffett. Warren Buffett is still alive at the time of this writing but he has already drawn a long term plan that will guide Berkshire Hathaway after his demise.

Warren Buffett doesn’t invest in a business that has no long term plan because he isn’t investing for short term. So why should you build a business without a long term goal? Most entrepreneurs are too profit obsessed and that’s why they drain their business resources without recourse to the business long term needs.

Entrepreneurs that think long term take care of their customers and strengthen the business internally by re-investing profits. Businesses that stand the test of time are businesses that are run on long term projections.

“Focus on your customers and lead your people as though their lives depend on your success.” – Warren Buffett

7. Know thyself

If there is a character I learned from Warren Buffett; it’s integrity. Integrity doesn’t only represent honesty; it encompasses all aspect of life. What is your personal philosophy?

"It takes 20 years to build a reputation and only five Minutes to ruin it. If you think about that, you will do things differently." – Warren Buffett

I have taken a critical look at companies that have sustained the pace in their various industries and I see something common at the core of these companies; which is integrity. Integrity is not in-born in any business; it is transferred into the business from the entrepreneur. If integrity is your watchword; it will reflect in your company’s culture. Aside all this rambling; the core is that you know yourself. Remain true to your philosophy; and stick to what you believe in.

As a final note, these are the seven business lessons I learned from Warren Buffett; the richest investor in the world. Imbibe these lessons and I will see you at the top.

42 Life Lessons and Business Quotes from Li Ka Shing

Today, I want to share with you some life lessons and business quotes from Li Ka Shing; a Hong Kong business tycoon. Li Ka Shing is one of the richest drop out billionaires in the world; but he wasn’t so few years ago.

In this article, Li Ka Shing will be sharing with us some life and business lessons he picked up in the entrepreneurial process of starting a business from scratch. So if you are ready to learn, then below are 42 life lessons and business quotes from Li Ka Shing.

42 Life Lessons and Business Quotes from Li Ka Shing

1. I was facing life for the first time. I was 12 years old, but I felt like a 20 year old. I knew then what life was.

2. This was actually a more difficult job, but the prospects were better. I was confident about the bright prospects of the plastics industry and I told my boss that I would like to start my own business. I already knew a lot about the plastics business, including the technology, the market and sales.

3. The first year, as I didn’t have much capital, I did everything myself, which kept my overhead low.

4. Buying land is not like buying antique. It is not the only deal available.

5. Despite my achievements, I can still remember poverty. I told my children and grandchildren that ‘The fruit that you eat will never taste as beautiful as the fruit that I ate during the turmoil of war. You will never cherish it as much as I do.’

6. I am very prudent financially because of those hard times I went through. I spent nothing. I had a haircut every three months. I shaved my head like a monk.

7. I needed to save every penny…I needed to be strong, and needed to find some way to secure a future. That’s why I am always conservative. I never forget to maintain stability while advancing, and I never forget to advance while maintaining stability.

8. But how many times have you heard that Cheung Kong’s finances were in trouble over the last fifty years? Never; the reason is, we are always prepared for the worst. That is my policy.

9. I wasn’t lucky. I worked hard to achieve the goals I set for myself.

10. Vision is perhaps our greatest strength. It has kept us alive to the power and continuity of thought through the centuries; it makes us peer into the future and lends shape to the unknown.

11. I had a clear intention of taking over one of these companies with underperforming assets and developing it into a multinational corporation.

12. I bought land with my own cash. If somebody invites me to be a partner, and I take only 15% to 20% as a minority stakeholder, they would perhaps get a loan from the bank. But I had no personal debt. At that time, when Cheung Kong went public in 1972, the company had almost no debt. Even if the company had to borrow from the bank, we would have alternative arrangements, such as buying government bonds equivalent to the bank loan amount, to ensure that we can readily cash out at anytime. The interest income would continue to accumulate, while interest expense on the loan would be repaid monthly. So you see; our corporate finance is very conservative and prudent.

13. You can believe in Fung Shui if you want, but ultimately people control their own fate. The most important thing is to improve yourself and give it your best. Then many things previously thought to be impossible will become possible.

14. Broaden your vision, and maintain stability while advancing forward. That is my philosophy.

15. Times were really tough in the beginning. When I started my business in 1950, I only had HK$50,000, so I was in a tight spot financially. I already had some work experience, but I had an advantage in competing with other companies. I was willing to learn the latest industry trends.

16. Businessmen must move with the times…the correlation between knowledge and business as the key to success is closer than ever.

17. I was already keeping an eye on the political developments within china, and I also had a firm grasp on economics, industry, management and the latest development and productions of the plastics industry. Not many people in Hong Kong at that time were aware of the potential. It was still quite new.

18. You must know and understand your business like the back of your hand. Otherwise, your company would be here today, gone tomorrow.

19. Reputation is the key to success. You have to be loyal to your customers.

20. I was once an employee myself, so I know what employees want.

42 Life Lessons and Business Quotes from Li Ka Shing

21. I have set boundaries for myself. There are certain business I won’t get into…This is my principle and I will stick to it.

22. In the Han Dynasty, Xiang Yu was very brave and won many battles, but in the end he failed. Treat people with sincerity and build a good organization. Otherwise, it doesn’t matter how famous or how capable you are.

23. If you think, then you will be prepared. If you are prepared, then you will have no worries.

24. Before the Asian financial crisis stuck, the signs of a bubble economy were already glaring.

25. I wake up every day just before 6:00 am and exercise and play golf for an hour and a half. I insist on reading before I go to bed at night. I am still energetic during the day. Your energy comes from being interested in your work.

26. The more you know, the more prepared you will be when opportunity knocks. If you are lazy and wile your time away, you would not know how to take advantage of opportunities even if they stared you in the face.

27. I want to build a corporation that not only the Chinese are proud of, but that even foreigners are impressed with.

28. If you have done your best to make meaningful contributions, when it is time for you to go, all you will feel is a little tired, just like when the sun sets you need to take a rest. I just hope that I lead a full life.

29. I was very careful. I had no debt (actually, I was not qualified for a bank loan at the time), but I knew my company’s finances like the back of my hand, and I could answer any question that anybody asked.

30. The first year, as I didn’t have much capital, I did everything by myself, including the first set of account books. I needed to go the Inland Revenue Department, and I asked my auditor if my accounts were correct, since I had no experience doing accounting. He said that it was complete and that I could take this to the government. I had no experience, but I learned by reading books on accounting. When you want to understand the balance sheet, you needed to know a little bit about accounting. I did so many things by myself, which kept my overhead low. I have made a profit every year since 1950. I have never lost a penny in any year.

31. My father had tuberculosis, which was as devastating a disease as cancer is today. If you were rich and could afford proper care, you might have a better chance. We had no choice.

32. On New Year’s Day, the boss announced that the bonus that year would be based on sales. At the end of the year, my sales figure was seven times higher than the second best. If they paid my bonus based on my sales, my bonus would have been higher than the general manager’s. The other salesmen were already jealous. So I said to my boss, “Just pay me the same as the second best salesman; it would make everyone happy.” As a result, I became a manager when I was 17 going on 18.

33. During my father’s time, our family finances were deteriorating. My uncles did not make any contribution to the family after they came back from Tokyo. I always had a fighting heart. I only had a small amount of capital when I started my own business. That’s why I am always conservative. I never forget to maintain stability while advancing, and I never forget to advance while maintaining stability. Stability and advancement must always be in balance.

34. Our principal policy is never to take financial risk.

35. You have to prepare for the worst-case scenario. If nobody buys your property, can you support your debt? For 56 years, especially after we went public, Cheung Kong has never had any financial problems.

36. Doing business may be tough, but I am willing to learn, to innovate, and to work hard, which are the reasons why my business can continue to grow. We focus on our core competencies while looking for new areas for expansion. New businesses sometimes fail, and sometimes succeed. But the ones that succeed can be very profitable. This has been my experience. Setbacks and difficulties are ways to build character.

37. First of all, I am an optimist. When you study hard and work hard, your knowledge grows, and it gives you confidence. The more you know, the more confidence you gain. When I was 10 years old, I lost my schooling, but I still had plenty of hope to return to school.

38. I have worked hard to establish my business over the past decades, and now we are seeing the fruits of our labor. Not only is my group reaping the benefits, I am also able to make greater contributions to worthy causes.

39. The most challenging issue raised by globalization is how we can all get along with each other in our race against time. Corporate leaders must possess far-sighted vision, detailed action plans, macro-thinking, and a global outlook. To get ahead in the race, they must also possess a deep understanding of their own organization and that of their competitors.

40. I would like to do more meaningful deeds. I don’t care how much money or how much energy it takes. I have very simple needs. With the blessings that I have received, I have no need for more wealth. But if I can do more for mankind, for our people, and for our country, I would be more than happy to do so.

41. Well, I have my own definition for the term “retirement”. Life was extremely hard when I was young; today working without the burden of pressure to me is the same as the luxury of retirement. These few years, our Group has embarked on some new projects and is in exciting times. We plan all our projects meticulously. Our work is certainly challenging, but we are not under any pressure except for the pressure to outperform.

42. Since many seem to be interested and concerned, I am happy to report that I am in good shape, and can rise to the opportunities and challenges of our times, and I embrace each project with enthusiasm. I also spend a lot of my time on education and medical care initiatives. This is a passion that I will never grow tired of. In fact, I consider it a lifelong endeavor.

Four Essential Lessons from Companies Going Out of Business

Over the years, I have watched several companies; both big and small close shop due to unforeseen business challenges. I have seen giant companies disappear just because of a single change in trend or government policy. Now while I do not intend to list such companies that went down the road; it’s my ultimate aim to draw out the lessons learned from such companies going out of business.

Now why do companies go out of business? What are the warning signs of bankruptcy? What lessons can be drawn from companies going out of business? Well, I will suggest you read on.

I think it’s worthwhile you know that I will strictly be focusing on the lessons learned from companies going out of business. If you are more interested in knowing the causes of business failures or bankruptcy; the articles below will be of help.

10 Causes of Business Failure You Must Watch Out For

12 Strong Reasons Why Small Businesses Fail

15 Common Business Mistakes You Must Avoid When Building a Business from Scratch

Four Essential Lessons from Companies Going Out of Business

Lesson one. No company is infallible

The bases of lesson one was formed when before my very eyes; big companies that commanded respect filed for bankruptcy. Those who witnessed the global financial meltdown of 2008 woke up one day to be greeted with the news that companies presumed infallible were filing for bankruptcy. Examples of such companies were Merrill Lynch and Lehmann Brothers. Even several billionaires were reported to have committed suicide because they couldn’t bear the loss.

Now why did these companies fail? These companies commanded respect; they had the capital base and public patronage. Yet, they failed. The reason they failed wasn’t because of insufficient funds; they didn’t fail because the stock market crashed. They failed because they got arrogant and threw caution to the wind. These companies failed because they thought they were infallible; they believed they were immune to change.

This brings me back to my lesson number one: No company or business is infallible. The fact that you successfully executed a deal or you are a successful entrepreneur doesn’t eliminate the odds that you might fail in your next venture. No human or human controlled entity is immune to failure. Whether you are starting a business from scratch or you are building a business; always respect the odds. Play with intelligence and a little bit of caution; it will save you in the long run.

Lesson two. Going out of business doesn’t mean extinction

“Never reinforce failure; never marry a losing hand.” – The Mafia Manager

I recently wrote an article highlighting the spectacular business failure of successful entrepreneurs and how to handle business failure. Sometimes, things happen unexpectedly; which might result to failure. But I want to emphasize that failing in business doesn’t mean being extinct in business.

The ability to bounce back to success from failure or bankruptcy is what makes you a seasoned entrepreneur. Being down doesn’t mean being out. It’s only an opportunity to start over again more intelligently. You can bounce back from failure stronger and better than ever; it all depends on your mindset. If you say it’s over; it is. But if not, then you are still in the game.

One of my business role model “Donald Trump” was once in a personal debt of $1billion and a corporate debt of $9billion but he pulled himself and his corporation out of the mess. If he can do it; I don’t see why you can’t repeat the feat.

Lesson three. Success doesn’t happen overnight; so also does failure

“Men stumble on stones, not mountains.” – The Mafia Manager

Most people wake up only to be told that a company has gone out of business and they wonder how fast things happen. But in reality; things don’t just happen. Just as success requires a process; so also does failure. Failure show fore signs but most entrepreneurs and managers don’t heed these warning signs; they wait until it’s too late and then they begin to make frantic efforts to save the company.

Companies don’t go broke overnight; they don’t go out of business suddenly, it’s a gradual process that builds over time. Titanic did not sink overnight; it began with a leak and from there things went out of control. The lesson here is this; don’t wait till it’s too late before implementing some corrective measures.

4. Never ignore a broken system

“Extreme problems often require extreme solutions.” – The Mafia Manager

It’s often said that a small sink can sink a great ship; and that’s the truth. The Titanic was not destroyed by a bomb; it sank as a result of a leak. So also it is in business. The smallest or often ignored unit of your business can bring your entire company down.

Never ignore a broken system no matter how small and unserious it may seem; it may be the beginning of your business failure. If you notice that your customers have exceeded their credit line and it is affecting your business cash flow; take drastic action.

If you have a customer complaint; deal with it as quickly as possible. If you have a bad employee; take disciplinary measures or better still, fire him or her. If you smell a rat in your business; deal with it with a sense of urgency. Never procrastinate addressing a broken system because business problems tend to become more expensive the more they linger on.

“If you see a snake; just kill it. Don’t hire a committee on snakes.” – Henry Ross Perot

As a final note, these are the four lessons I learned from companies going out of business. One of my mentor said that “life is funny when it’s happening to someone else” and it’s the truth. But all the same, try to learn from the mistakes of other businesses and entrepreneurs because it’s less painful to learn that way.

Eleven Business and Life Lessons from Carlos Slim Helu

As an entrepreneur and investor, I have other successful business mentors and investment gurus I look up to for guidance and inspiration. And one of such successful entrepreneurs is Carlos Slim Helu; the richest man in the world 2010 and one of the richest people in the world.

Over the years, I have quietly been understudying the life and business strategy of Carlos Slim Helu; and just when I was about to wrap up my findings and share with you the lessons I learned from this telecom billionaire, he appeared live on an interview with Larry King of CNN.

On Friday 3^rd December 2010, as I watched the Carlos Slim Helu being interviewed by Larry King; my respect for him increased. Now based on the interview and personal findings from my research carried out; I will be sharing with you eleven business and life lessons I learned from Carlos Slim Helu, including a brief excerpt of his interview with Larry King.

So if you are ready to learn from the Mexican tycoon and billionaire; then sit back and read on as I share with you an excerpt of Carlos Slim Helu’s interview with Larry King and eleven business lessons I learned from it.

Interview with Larry King: Eleven Business and Life Lessons I Learned from Carlos Slim Helu

Larry King: It’s an honor to welcome you to LARRY KING LIVE, Carlos Slim Helu. How did it feel when you were ranked number one?

Carlos Slim Helu: Thank you very much for your invitation Larry. Any kind of difference before, after, during, is not important; I think. What is important is what you are doing and how you are operating the company that you are managing and when you have many parts of the public investing in this company.

Larry King: So, it’s not a particular honor?

Carlos Slim Helu: No, no, no. it’s not championship. It’s the competence; the competence in your sector with other companies not looking to have some kind of records in this issue.

Larry King: When you topped the annual richest list back in March, they listed your net worth at $53.5 billion. Is that about right?

Carlos Slim Helu: I really don’t care about my ration. What they do is know how much share of the companies that we have investments and we are managing, and has the market price. The market price changes everyday, every time with a lot of volatility and you cannot make balance sheets of what is happening. What you are taking care is about the operation of the business, the investments of the companies; the technology you are using, the segment you are in and how you are managing the business.

Business lesson one: Building a successful business is all about competence

Larry King: How do you stay on top of all that?

Carlos Slim Helu: Well, how can you be on top of the things you do? I think when you are involved in a business first of all; you need to know the business. After you know the business, you can let the numbers tell you what is happening. You can read with the numbers to know if things are going well or if things are not going well. You make co-operation with your competitors; you look at the international references to try to achieve the best reference nationally. The numbers talk to you.

Larry King: Were you also good with numbers?

Carlos Slim Helu: Yes, yes I think so. Some people are very good with letters and others have a good grasp of numbers. You can manage numbers in different ways; you read the numbers and you understand what is happening in the companies.

Business Lesson Two: Understand your line of business and its numbers

Larry King: it’s estimated that you and your family control more than 200 companies. You are one of Mexico’s largest private employers. You are in control of so many things. Do you feel, Carlos; as I have gotten to know you? Do you feel enormous responsibility?

Carlos Slim Helu: Yes. I think that anything that has privileges has responsibility. All this is responsibility and compromise. Compromise and responsibility are not only for me and my family, but also the management team to have the responsibility to know the importance of what we are doing and that at the end of temporarily managing this; we don’t take anything when we pass away. And we do need to do business with a sense of responsibility.

Larry King: How many people currently work for you?

Carlos Slim Helu: well, I think we are around 250,000

Business Lesson Three: Becoming a successful entrepreneur is all about responsibility

Larry King: Was your goal to make money? Is that your goal?

Carlos Slim Helu: I think it’s not a goal. Money is not a goal. The goal is to make companies grow, develop, be competitive, be in different areas, be efficient to have a great human team inside the company. Look for human development of the people of the companies because you cannot do anything without human capital, without your human team.

We are talking about how many people are with us but there are managers that are critical that began working in the company and grew with the company and develop to achieve success being in high level management position. And now the goal is well by one side, I think the wealth should be reinvested to create more wealth. The fruit of wealth is income and it is important to develop the distribution of income. The distribution of income comes mainly by employment and second, by the money that goes to the government.

Business Lesson Four: Be driven by passion; not money

Larry King: Carlos Slim Helu owns one of the oldest hotels in Mexico, Hotel Genève but the empire is in the telecommunications company; Telmex, which he acquired in 1990 when Mexico began privatizing its national industries. A decade later, he spun off the cell phone business, American mobile and it’s one of the largest companies in all of Latin America. He also owns Sunborn, Mexico’s major retail outlet and biggest restaurant chain. His interest includes one of Mexico’s most important banks, airline, a mining company, hotels, construction, insurance companies, a bottling company, cigarette manufacturer, much real estate and on and on and on.

Larry King: Are you always looking to acquire?

Carlos Slim Helu: In 1965 when I began, I had a soft drink bottling company. We are not in the bottling business anymore. We sold the tobacco business also to our partners. We are concentrating because during these 45 years and depending on the circumstances we were involved; we have the possibilities to buy some business. With time, we thought we were focusing a little more on what we thought had more important potential and development and needed more investments and management.

Business Lesson Five: Concentrate; be focused

Carlos Slim Helu: In ’82, there was a big crisis in Mexico and that meant that nobody was investing. And we invested in paper; we invested in tyres for cars, we invested in auto parts and aluminum and copper combustion. Actually we were focusing. We sold a corporation, we sold a tile business we bought in ’82 also; both of them. We were focusing in telecommunication, financing and mining, retail.

Business Lesson Six: Get in when others are getting out
Business Lesson Seven: Always be prepared to make your big move

Larry King: You are very involved in the education of the people, I know because I spoke to all those students. You give scholarships every year, right?

Carlos Slim Helu: Yes.

Larry King: How much do you devote to charity?

Carlos Slim Helu: well we make it, not talking about a budget and say well; this year we will invest $100 or $100 million. We try to find which are the problems that we need to attack and then we put all the money that is necessary. We also have programmes and we put in these programmes and all that are necessary. Let’s say in the surgery, we do surgery around the country. We began with 2000 a few years ago, now we are doing 120,000.

Business Lesson Eight: Give back to the society

Larry King: Was there early in life, a big event that happened to you that turned you from a millionaire to billionaire? Was there a major occurrence?

Carlos Slim Helu: I think work, investments and reinvestments. My father used to say that the money that gets out of a company evaporates. That means he was thinking in terms of investments and reinvestment and reinvestment. That is one of the things we do. Other things that we do are in good times, we maintain our winning streak. When we do profitable business, we don’t get crazy; putting expenses all around or making fancy things. Then, we didn’t have corporate offices until now. We used to have them in the factories. The offices of the company were in the factories, not in another corporate building. I think it’s the way it happened.

Business Lesson Nine: Watch your expenses
Business Lesson Ten: Reinvest, Reinvest, Reinvest

Larry King: Is it hard for you to see all the poverty in Mexico?

Carlos Slim Helu: It’s hard but I am convinced that all this poverty in Mexico and in Latin America, like it’s happening in China is the opportunity to grow. It’s an opportunity for investment; it’s an economic activity and to take out poverty is the best investment any person or a person can do in any place because poverty used to be an ethical issue, used to be a social justice but now it’s an economic need. You need to integrate these people that are marginal and are in poverty; you need to integrate them into modernity.

Business Lesson Eleven: See opportunities, not problems

As a final note, I hereby end my excerpt on the interview between Larry King and Carlos Slim Helu. I believe you have learned something from the life of this billionaire and I also hope that the business lessons I extracted will prove useful to you. Before I drop my pen, below is a quick recap of the eleven business lessons I learned from the Mexican telecom billionaire; Carlos Slim Helu.

Building a business is all about competence
Understand your line of business and its numbers
Becoming a successful entrepreneur is all about responsibility
Be driven by passion; not money
Concentrate; be focused
Get in when others are getting out
Always be prepared to make your big move
Give back to the society
Watch your expenses
Reinvest, reinvest, reinvest
See opportunities; not problems

Five Life Lessons from Napoleon Hill’s Think and Grow Rich

It’s been quite long since I read the book “Think and Grow Rich” by Napoleon Hill but I recently went through the book again because I strongly believe that with every reading comes new lessons and inspiration. Just as expected, I came across fresh lessons that challenged my perception and I made up my mind to share these lessons learned with you.

Now if you haven’t read the book “Think and grow rich,” then I am sorry to say that you are shielding yourself from uncommon knowledge; I am talking about knowledge that has the power to change your mindset and empower you to create wealth. And if you have read the book, then you probably must have missed these five lessons that I am about to share with you. Regardless of the group you belong, you are going find this article informative.

Think and grow rich is a classic book that analyzes the secret to the success of great men from all walks of life. The book explains in details the success secret of self made men such as Henry Ford, Andrew Carnegie, Thomas Edison, King Gillette, George Eastman, John D. Rockefeller and Alexander Graham Bell. When it comes to learning the secrets to wealth, then “Think and grow rich” is unquestionably the book to read.

Sincerely speaking, there are over 101 lessons to be learned from the book “Think and grow rich” ranging from business success secrets, personal success strategies to life lessons. So instead of rambling over why you should read the book “Think and grow rich,” I believe it is better I share with you five life lessons I learned from Napoleon Hill’s “Think and grow rich.” So sit back and digest the lessons you have probably missed.

Five Life Lessons from Napoleon Hill’s Think and Grow Rich

1. All you need is one sound Idea to Succeed

This lesson is so true and glaring; yet, most of us fail to achieve success in life. I decided to extract this lesson from “Think and grow rich” because I see individuals skipping from one business idea or opportunity to another. Everyday, I see individuals planning to start a business but they don’t seem to be making headway simply because they are waiting for the perfect business opportunity.

Everyday, I receive messages from budding entrepreneurs wanting to partner with me and this is the way most of their pitch goes.

“I have an excellent business idea that will make us a lot of money.”

“My idea is so unique that nobody else knows it.”

“I have just discovered the perfect business opportunity. Will you invest with me?

“I think we should work together, I have tons of business ideas.”

While I try my best not to discourage the aspiring entrepreneurs, I do my best to make them realize that the world is filled with brilliant ideas. After all, most caterers and chefs can bake a better hamburger than Ray Kroc; yet, Ray Kroc became a billionaire with his averagely baked burger. If the perfect idea is all it takes to become a billionaire, I expect everyone to hit tremendous success effortlessly.

Now that brings me back to my lesson one that states “All you need is one sound idea to succeed.” This lesson is very important and applicable to our everyday life. Everyday, I come across people bouncing from one business opportunity to another; from one get rich quick scheme to another. I also have friends who spend all their time and resources chasing different investment opportunities.

To these set of people, they think their problem lies in the business opportunity and they hope that one day, they will hit the right idea. But I want to say to you that you don’t need multiple ideas to succeed in life; all you need to achieve success is one sound idea. That idea could be a skill you possess or your passion, talent or hobby.

Remember that Henry Ford did not become a billionaire with multiple business ideas, neither did John D. Rockefeller. Andrew Carnegie did not pursue several business ideas and opportunities; he focused on steel. Bill gates and Larry Ellison focused on software; Carlos Slim Helu focused on telecommunication and Oprah Winfrey focused on entertainment. So if you are going to achieve success or strike it rich in life, then you have to find your passion or a business opportunity you are passionate about promoting and focus on it.

Remember, all you need to achieve success is just one sound idea; so be wise.

2. Becoming Rich begins with your Mindset

I have written on this time without number but I believe strongly that it’s worth repeating that becoming rich begins with your mindset. Napoleon Hill in his book “Think and Grow Rich” said that when you begin to think and grow rich, you will observe that riches begin with a state of mind, with definiteness of purpose and with little or no hard work. And I believe this statement in its entirety.

“Getting rich begins with the right mindset, the right words and the right plan.” – Rich Dad

In the book “Think and grow rich” Napoleon Hill emphasized the fact that success comes to those who become success conscious and failure comes to those who indifferently allow themselves to become failure conscious. He also pointed out the fact that one of the main weaknesses of mankind is the average man’s familiarity with the word “impossible.”

“The word impossible has been and remains deleted from our dictionary.” – Ingvar Kamprad

It was based on these points that I drew out my lesson two that states: “Becoming rich begins with the right mindset.” I have written tons of articles with respect to developing your mindset so you can check them out if refocusing your mindset is your priority.

3. You are the master of your fate

Do you believe in fate? Do you believe that your life is being controlled by some supernatural forces? Do you believe that your fate or destiny has been predetermined even before your birth? Then I feel you should have a rethink. Well, even before I came across this life lesson from “Think and grow rich,” I had already developed the perception or belief that I am responsible for my life. And that’s why Abraham Lincoln said that “a man is not responsible for the beginning of his life but the end thereof.”

Well, if you think you are more spiritual than I am; then think again because even God said in the scripture that:

“See thou a man diligent in his business? He shall stand before kings; he shall not stand before vain men.” – Proverbs 22: 29

“For whatsoever thy hands find to do, do it with all thy might; for there is no work, nor device, nor knowledge, nor wisdom in the grave.” – Ecclesiastes 9: 10

“Be not deceived; God is not mocked: for whatsoever a man sow, that shall he also reap.” – Galatians 6: 7

Though while trying to sound not too spiritual, I want you to know that life was formed on rules and that’s why philosophers believe that nothings happens without a reason or cause. I strongly believe in miracles but I want you to know that miracles don’t just happen; miracles are always the product of two factors “Faith and Self belief.”

So what am I trying to stress? The point I am trying to emphasize here is that you are responsible for your life. You have not being predestined to be rich or poor; either of them is a choice which only you can choose for yourself. So if you believe in fate, I want you to abandon that belief and take charge of your life today.

After all, no one is doomed to bad luck and the bible emphasized this fact in the statement that “as a man thinketh in his heart, so he is.”So take charge of your life today; take control of your life’s direction. Just as Napoleon Hill said, “you are the master of your fate.”

4. The starting point of all achievement is desire

How did great men become great? How did the richest people in the world become rich? The answer is very simple; they strongly desired it and they used that desire as an inspiration to reach for greatness.

“I intend to be, the richest man in the world.” – Howard Hughes

Henry Ford did not become a billionaire by chance; he desired it. Barrack Obama did not emerge the president of United States by chance; he strongly desired it and worked towards it. Wal-Mart did not become the most capitalized company in the world by chance; the management desired it and acted on the laid down principles of its founder “Sam Walton” to make that desire a reality.

“Dream more than others, think practical.” – Howard Schultz

So if you are going to achieve anything worthwhile in life, then you must strongly desire it and must be willing to make some sacrifices for that desire to become a reality. That draws the curtain on lesson number four: “The starting point of all achievement is desire.”

5. Knowledge is not power

My lesson number five may look controversial but I don’t expect it to be because it’s the truth. We have all grown up bearing in mind that knowledge is power but I want to state clearly that “Knowledge is not power.” Knowledge is only potential power; the wise application of knowledge is where the true power lies.

In the book “Think and grow rich,” Napoleon Hill stressed the point that knowledge will not attract money; unless it is organized and intelligently directed through practical plans of action. Lack of understanding of this fact has been the source of confusion to millions of people who falsely believe that knowledge is power.

Knowledge is not power!!! It is only potential power until it is organized into definite plans of action and directed to a definite end. Programming knowledge did not make Bill Gates or Larry Ellison the richest people in the world; intelligent application of programming knowledge with a synergy of business sense did. So change your perception about knowledge and get down to work.

Donald Trump Quotes: Business and Investment Lessons from a Real Estate Billionaire

Today, I will be sharing with you some business and investment lessons from a real estate billionaire; Donald Trump. But before we pick the wisdom of Donald Trump, let’s have a quick glance at his bio.

Short Bio of Donald Trump: Donald Trump is a real estate billionaire developer and famous for his role in The Apprentice reality show. He’s the founder of the Trump Organization and he’s best known for his outspoken, unyielding and aggressive attitude. Donald Trump is a degree holder and so therefore, he’s not on our list of school drop out billionaires.

Donald Trump will be best remembered as the man who staged a come back after going bankrupt twice. Below are some of the best Donald Trump quotes, business and investment lessons.

Donald Trump Quotes: Business and Investment Lessons from a Real Estate Billionaire

1. "A little more moderation would be good. Of course, my life hasn't exactly been one of moderation."

2. "Anyone who thinks my story is anywhere near over is sadly mistaken."

3. "I like thinking big. If you’re going to be thinking anything, you might as well think big."

4. "Everything in life is luck."

5. "Experience taught me a few things. One is to listen to your gut no matter how good something sounds on paper. The second is that you are generally better off sticking with what you know and the third is that sometimes, your best investments are the ones you don't make."

6. "I don't make deals for the money. I've got enough much more than I’ll ever need. I do it to do it."

7. "I have made tough decisions, always with an eye on the bottom line. Perhaps it's time America was run like a business."

8. "I try to learn from the past, but I plan for the future by focusing exclusively on the present. That's where the fun is."

9. "I was not satisfied just to earn a good living. I was looking to make a statement."

10. "I'm the NO 1 developer in New York. I'm the biggest in Atlantic City, and maybe we will keep it that way."

Donald Trump Quotes: Business and Investment Lessons from a Real Estate Billionaire

11. "If you are interested in balancing work and pleasure, stop trying to balance them. Instead make your work more pleasurable."

12. "In the end, you are measured not by how much you undertake but by what you finally accomplished."

13. "It's tangible, it's solid, and it’s beautiful. It's artistic from my standpoint and I just love real estate."

14. "Money was never a big motivation for me except as a way to keep score. The real excitement is playing the game."

15. "One of the key problems today is that politics is such a disgrace. Good people don't go into government."

16. "Part of being a winner is knowing when enough is enough. Sometimes you have to give up the fight and walk away. Move on to something else that's more productive."

17. "Sometimes by losing a battle, you will find a new way to win the war."

18. "The point is that you can't be too greedy."

19. "Well yes, I have fired a lot of people. Generally I like other people to fire because it's always a lousy task. But I’ve fired many people."

Donald Trump Quotes: Business and Investment Lessons from a Real Estate Billionaire

20. "What separates the winners from the losers is how a person reacts to each new twist of fate."

21. "When somebody challenges you, fight back. Be brutal, be tough."

22. “I was relentless even in the face of total lack of encouragement because much more often than you think; sheer persistence is the difference between success and failure."

23. “Get in, get it done; Get it done right and get out.”

24. “I learned a lot about discipline and about channeling my aggression into achievement.”

25. “I decided that as long as I had to be in college, I might as well test myself against the best.”

26. “I had loftier dreams and visions. And there was no way to implement them building houses in the boroughs.”

27. “I don’t believe you can ever get hurt by buying a good location at a low price.”

28. “Sometimes, the word ‘organization’ made it sound more bigger.”

29. “We won by wearing everyone else down. We never gave up and the opposition slowly began to melt away.”

30. “Always look out for yourself.”

Donald Trump Quotes: Business and Investment Lessons from a Real Estate Billionaire

31. ‘My style of deal making is quite simple and straightforward. I aim very high and then I just keep pushing and pushing and pushing to get what I’m after. Sometimes, I settle for less than I sought but in most cases, I still end up with what I want.”

32. “You can’t be scared. You do your thing and hold your ground; you stand up tall and whatever happens happens.’

33. “My experience is that if you are fighting for something you believe in; even if it means alienating some people along the way, things usually work out.”

34. ‘Other people paint beautifully on canvas or write wonderful poetry. I like making deals, preferably big deals.”

35. “Most of my people at first favored putting paintings on the wall. To me, that was old fashioned, unoriginal and not just very exciting.”

36. “Most people think small because most people are afraid of success, afraid of making decisions, afraid of winning. And that gives people like me a great advantage.”

37. “Sometimes it pays to be a little wild.”

38. “We took our strengths and promoted them to the skies. From day one, we set out to sell Trump Tower not just as a beautiful building in a great location but as an event.”

39. “If you go for a home run on every pitch, you’re also going to strike out a lot. I try never to leave myself too exposed even if it means sometimes settling for a triple, a double or even on rare occasions, a single.”

40. “If you want to sell a car and you spend five dollars to wash and polish it and then apply a little extra elbow grease, suddenly you find you can charge an extra four hundred dollars and get it.”

Donald Trump Quotes: Business and Investment Lessons from a Real Estate Billionaire

41. “If you want to buy something; it’s obviously in your best interest to convince the seller that what he’s got isn’t worth very much.”

42. “When I build for somebody, I always add $50 million or $60 million onto the price.”

43. “I couldn’t sell him on my experience or my accomplishment, so instead I sold him on my energy and enthusiasm.”

44. “I am a great believer in asking everyone for an opinion before I make a decision. I ask, I ask, I ask until I begin get a gut feeling about something. And that’s when I make a decision. I have learned much more from conducting my own random surveys than I could ever have learned from the greatest of consulting firms.”

45. “I knew if I was patient and kept my eyes open; a better opportunity would eventually arise.”

46. “The results have been spectacular because I have paired both instinct and logic.”

47. ‘Somewhere out there are a few men with more innate talent at golf than Jack Nicklaus or women with greater ability at tennis than Chris Evert or Martina Navratilova but they will never lift a club or swing a racket and therefore will never find out how great they could have been. Instead, they will be content to sit and watch stars perform on television.”

48. “What I admire most are people who put themselves directly on the line.”

49. “Watch, listen and learn. You can’t know it all yourself. Anyone who thinks they do is destined for mediocrity.”

50. “It pays to trust your instinct.”

51. “If you don’t tell people about your success, they probably won’t know about it.”

Thomas Alva Edison’s Quotes: Strategies for Creativity from the founder of General Electric

Today, I will be sharing with you some of Thomas Alva Edison's quotes and business lessons. I hold the advice and words of Thomas Edison in high esteem because it was on these same words that General Electric, one of the most powerful companies in the world was founded. But before we learn from Thomas Edison, let’s take a quick review of his bio.

Short Bio of Thomas Alva Edison: Thomas Edison was labeled dumb and scatterbrain by his school teachers but he went on to become one of the world's greatest inventors and founded General Electric; one of the most powerful companies in the world. Thomas Edison is on our list of school drop out billionaires.

Born in 1847, Thomas Edison worked on the railroad selling snacks and printing his own newspaper between the age of 12 and 15. At the age of 15, he went to work for the telegraph company and worked there till he turned 22.

In 1869 at the age of 22, Thomas Edison received his first patent and went on to construct his own Laboratory in New Jersey, 1876. He invented the phonograph in 1878; invented the electric bulb in 1879 and went on to install a complete electrical system in New York in 1882.

Thomas Alva Edison will be remembered for his incandescent light bulb invention and his unyielding persistence. Below are some of Thomas Alva Edison’s quotes, business lessons and strategies for creativity.

Thomas Alva Edison's Quotes: Strategies for Creativity from the founder of General Electric

1. "Anything that won't sell, I don't want to invent. Its sale is proof of utility and utility is success."

2. "Be courageous. I have seen many depressions in business. Always, America has emerged from these stronger and more prosperous. Be brave as your fathers before you. Have faith! Go forward."

3. "Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends there must be forethought, system, planning, intelligence and honest purpose, as well as perspiration. Seeming to do is not doing."

4. "Discontent is the first necessity of progress."

5. "Everything comes to him who hustles while he waits."

6. "Genius is one percent inspiration; and ninety nine percent perspiration."

7. "Great ideas originate in the muscles."

8. "Hell, there are no rules here. We are trying to accomplish something."

9. "I find my greatest pleasure and so my reward, in the work that preceded what the world calls success."

10. "I am proud of the fact that I never invented weapons to kill."

Thomas Alva Edison's Quotes: Strategies for Creativity from the founder of General Electric

11. "I have friends in overalls whose friendship I would not swap for the favor of the kings of the world."

12. "I have not failed. I have just found 10,000 ways that won't work."

13. "I know this world is ruled by infinite intelligence. Everything that surrounds us – everything that exists, proves that there are infinite laws behind it. There can be no denying this fact. It's mathematical in its precision."

14. "I never did a day's work in my life. It was all fun."

15. "I never did anything by accident, nor did any of my inventions come by accident; they came by work."

16. "I start where the last man left off."

17. "If we did all the things we are capable of, we would literally astound ourselves."

18. "It is astonishing what an effort it seems to be for many people to put their definitely and systematically to work."

19. "Just because something doesn't do what you planned it to do doesn't mean it is useless."

20. "Many of life's failures are people who did not realize how close they were to success when they gave up."

Thomas Alva Edison's Quotes: Strategies for Creativity from the founder of General Electric

21. "Maturity is often more absurd than youth and very frequently is most unjust to youth."

22. "Nearly every man who develops an idea works it up to the point where it looks impossible, and then he gets discouraged. That's not the place to become discouraged."

23. "Non violence leads to the highest ethics, which is the goal of all evolution. Until we stop harming all other living beings, we are still savages."

24. "Opportunity is missed by most people because it is dressed in overalls and looks like work."

25. "Our greatest weakness lies in giving up. The most certain way to succeed is to always try just one more time."

26. "Restlessness is discontent and discontent is the first necessity of progress. Show me a thoroughly satisfied man and I will show you a failure."

27. "Results! Why, man, I have gotten a lot of results. I know several thousands things that won't work."

28. "The best thinking has been done in solitude. The worst has been done in turmoil."

29. "The body is a community made up of innumerable cells or inhabitants."

30. "The chief function of the body is to carry the brain around."

Thomas Alva Edison's Quotes: Strategies for Creativity from the founder of General Electric

31. "The three great essentials to achieve anything worthwhile are: Hard work, stick-to-itiveness and common sense."

32 "The value of an idea lies in the using of it.”

33. "There is far more opportunity than there is ability."

34. "There is no expedient to which a man will not go, to avoid the labor of thinking."

35. "There is no substitute for hard work."

36. "There is a way to do it better – find it."

37. "There will one day spring from the brain of science a machine or force so fearful in its potentialities, so absolutely terrifying that even man, the fighter who will dare torture and death in order to inflict torture and death, will be appalled and so abandon war."

38. "They say President Wilson has blundered. Perhaps he has, but I notice he usually blunders forward."

39. "If you must have a great idea, have a lot of them."

40. "To invent, you need a good imagination and a pile of junk."

Thomas Alva Edison's Quotes: Strategies for Creativity from the founder of General Electric

41. "To my mind, the old masters are not art; their value is in their scarcity."

42. "Waste is worse than loss. The time is coming when every person who lays claim to ability will keep the question of waste before him constantly. The scope of thrift is limitless."

43. "We don't know a millionth of one percent about anything."

44. "What a man's mind can create, man's character can control."

45. "What you are will show in what you do."

46. "When I have fully decided that a result is worth getting, I go ahead of it and make trial after trial until it comes."

47. "Your worth consists in what you are and not in what you have."

The Art of War Book by Sun Tzu: Seven Business Lessons to Learn

Today, I want to share with you some business lessons I learned from “The Art of War” book by Sun Tzu. For those of you who might not be familiar with the name Sun Tzu; Sun Tzu was an adviser, philosopher and strategist to the Emperor of China. Back then, his military advice and strategies helped the emperor maintain a stronghold on the Chinese province.

“To win 100 victories in 100 battles is not the acme of skills. To subdue the enemy without fighting is the acme of skills.” – Sun Tzu

Many of his powerful strategies were tabulated in written form and translated, resulting in the book; “The art of war.” If you have not read this book, I will advice you get it as soon as possible. But for now, I just want to share some of his strategies with you. Though most of them are military, they are very much applicable in the world of business and marketing.

7 business lessons from The art of war book by Sun Tzu

1. Defeat your opponent by strategy and flexibility

In the art of war book; Sun Tzu made us understand that our competitive objective should be to conquer our competitors by strategy, not by conflict because conflict may ultimately benefit no one.

He also highlighted that overcoming competition requires careful and detailed planning, clear business strategy and proper strategic management. Flexibility entails responding quickly to changing factors such as economic, environmental and political factors. It also entails aligning swiftly or taking advantage of emerging trends.

“No plan survives contact with the enemy.” – Sun Tzu

Your overall business strategy must be flexible and opportunistic with respect to the prevailing situation. That means you must constantly review your strategies and make the necessary adjustments. You must also not be static with respect to your strategic plan and you must take certain decisions quickly.

“To defeat the enemy, you must be as flexible as water. Water has the ability to quickly take the shape of any container it finds itself.” – Chinese proverb

2. Divide your opponent’s attention

“Everywhere i go, i am being watched by a thousand eyes.” – Napoleon Bonaparte
“Intentional confusion is the strategy of moving in circles without any apparent direction.” – Sun Tzu

This is the second lesson I picked up from the art of war. You must look for smart ways to divert your enemy’s attention while you are making your strategic moves. For instance, when you are developing a new product or when you want to launch one, try to strategically divert your competitor’s attention.

3. Use competitive information

“Know your enemies and above all, know yourself.” – Sun Tzu
“Accurate information is the foundation of profitable operations.” – Sun Tzu

You probably must have watched the news on TV today? Have you taught about the information you heard in the news? Did you analyze the information you obtained from TV to find out if that information will affect your business positively or negatively?

“The most meaningful way to differentiate your company from your competitors, the best way to put distance between you and the crowd is to do an outstanding job with information. How you gather, manage and use information will determine whether you win or lose.” – Bill Gates
“Succeeding in a direct engagement on a competitor depends on deceiving him. If your stratagems are obvious to your enemies, no matter how good they are; you will be defeated.” – Sun Tzu

Information can be a competitive advantage for your business depending on how fast you apply it. Mind you that Information is not power but its strategic application is power. You must always strive to get information and use it to your advantage.

“If you don’t have a competitive advantage, don’t compete.” – Jack Welch

4. Forge a team with singleness of purpose and commitment

When building a business, you must bring your employees together as one family. Your business must become their business.

“Teams should be able to act with the same unity of purpose and focus as a well motivated individual.” – Gill Gates
“Treat your men well, and train them thoroughly.” – Sun Tzu

Your ability to forge a team out of your employees makes you a good business leader. You must unite your team to act with singleness of purpose. They must be committed to your course. They must understand your business mission and vision. If they can’t envision the future with you; they are not worthy being your team.

5. Utilize your strengths at full capacity

Sun Tzu in the art of war explains that to defeat the enemy, you must discover your strengths and utilize that strength of your at full capacity. You have to give your business everything thing you’ve got to keep it going.

6. Use climate and prevailing conditions to your advantage

Of all the strategies and lessons shared by Sun Tzu in the art of war, this one really hit me the most. I have seen entrepreneurs cry and lament about unfavorable environments, lack of funding, bad government policy and almost about everything. To be truthful, I was also in the group of the lamenting entrepreneurs but not anymore.

“Face reality as it is; not as it was or as you wish it were.” – Jack Welch

I have learned to face business challenges squarely. Sun Tzu taught me that in every situation, whether good or bad; there is an opportunity. Even in the worst situation, I try to find a loophole. If I don’t find one, I create one. No matter how bad the situation, you must find a way to use it to your business advantage.

“When I see a barrier, I cry and I curse, and then I get a ladder and climb over it.” – John H. Johnson

7. Exploit the weakness of your competitors

“Before entering an engagement, study your enemies closely.” – Sun Tzu

Learn to spot loopholes and weaknesses within and without your business environment because this singular factor can be a big competitive advantage for you. You must train your eyes to see opportunities that others cannot see. Sun Tzu taught me to utilize my strengths at full capacity. But where do I apply this strength of mine to obtain maximum result? This was Sun Tzu’s answer; “to obtain maximum effectiveness, you must use your strengths at full capacity to exploit your competitor’s weakness.”

“You are in a war. You must plan to take the other guy down first and do it. Winning is not the best thing; it’s the only thing. If it were not, no one would keep score. To win the war, you must take charge. You must set the organization’s objectives, establish a chain of control, delegate, appraise performance, adjust and act.” – The Mafia Manager