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10 Traits of Successful Business Women (Entrepreneurs)

The list of Forbes richest successful entrepreneurs and drop out billionaires is dominated by men; but there are women who refused to die without leaving their prints in the sands of time. I am talking about women who took the bull by its horn and refused to accept anything below average from life.

I have been studying the profiles and biographies of famous entrepreneurs but I have learned the most from the women entrepreneurs. I am talking about female entrepreneurs that started businesses from scratch and built multi billion dollar empires. I am talking about business women such as Oprah Winfrey; the richest black woman in the world, Anita Roddick, Rachael Ray, Coco Chanel, Mary Kay Ash, Jenny Craig, Martha Stewart, Lilian Vernon, Debbi Fields and Estee Lauder.

Now how did these women become famous entrepreneurs? What traits or characters do they possess that the average female entrepreneurs lack? What’s the secret to their business success? What traits helped Oprah Winfrey, Anita Roddick and Martha Stewart become billionaires? Well, read on.

In this article, I will be highlighting the 10 characteristics of the world’s most successful business women; women who started businesses from scratch. Are you a female entrepreneur? Do you want to start a business from scratch and grow it big? Then read on as I list the traits needed to become a successful business woman.

                10 Characteristics of Successful Business Women (Entrepreneurs)

 

1.            Self Belief

The first and probably the most important characteristic possessed by successful women entrepreneurs is self belief. Read the written journals or listen to the speeches of these successful business women and you will observe that they had a firm belief that they were destined to be great.

They believed in themselves; what others said about them didn’t matter. They never looked for problem solvers; they believed they were the problem solvers and that belief worked for them.

2.            Faith

Faith is moving ahead, even in the face of uncertainty. Did these successful business women have faith? My answer is yes. No one can build a successful business without faith because business is a game where you thrive on uncertainty. When starting a business; success is never guaranteed, compared to climbing the corporate ladder. If you lack faith, you won’t have the drive to press on even when there’s no sign of progress.

3.            They are passionate

If there’s one thing that propels successful business women forward; it is passion. Successful women entrepreneurs are passionate about what they do and that’s why they built a business around what they love to do best.

Debbi Fields built a business out of her passion for baking cookies; Rachael Ray built a business around her passion for cooking and Oprah Winfrey became the richest black woman with her passion for public speaking. So if you have a passion; believe in it, strive to be the best in it and you will emerge a success.

4.            They are humble and willing to learn

Entrepreneurship is a life long process and successful business women know this. Things change so fast in the business world; you could be an innovation today and become obsolete tomorrow. To stay on course and adapt swiftly to the ever changing trend, successful women entrepreneurs keep studying and learning.

They read industrial journals, books and magazines. They attend seminars and update themselves regularly with the latest industrial trend. Successful female entrepreneurs know that their cup is never full; they know that they don't have the right answers to all questions. So they humble themselves and learn when availed the opportunity.

5.            Ability to handle criticism

                "Dare to risk public Criticism" – Mary Kay Ash

Show me a business woman who hasn’t been criticized and I will show you an average woman. Successful women entrepreneurs were able to achieve success because they refused to be bugged down by negative comments. From Oprah Winfrey and Rachael Ray to Martha Stewart; they have all been criticized heavily. If you are an individual that listens to other people’s opinion before taking action; then your success will be limited.

6.            Persistence

                “Perseverance is my motto.” – Madame C.J. Walker

Another trait possessed by successful women entrepreneurs is persistence. Starting a business is one thing; but sticking to the entrepreneurial process is another. Nothing good comes easy; you must give a good fight and persist on what you want; if you are to really achieve success in the business world. Without persistence, I don’t think you can become a successful business woman.

7.            Dream

                “The only thing I had was this recipe, and with that recipe was a dream. And those were the only things that I had to build my business: a recipe and a dream. And there was no way I wasn’t going to see this dream through. And, so, my journey began. I made the decision, and I was going to see it through.” – Debbi Fields

If there’s anything that kept the successful women entrepreneurs going; it was their dream to build a successful business and achieve beyond mediocrity. Successful business women envisioned a lifestyle; they envisioned a future for themselves and they went for it.

8.            They went beyond their comfort zone

Is Oprah the only female talk show host? The answer is no. Then why did she emerge the richest black woman in the world? The reason was because she went an extra mile than others. You can never become a successful entrepreneur by sitting within your comfort zone; you have to step out into the unknown and that’s what the successful business women did. They left the comfort of their home and security of their jobs to face life squarely. They paid the price for success.

9.            They balanced their acts

                “When my company started really growing, I didn’t have any help in my house at all. I had the upkeep of my daily life, I had a one year old and a three year old, and I had my house. So I had to prioritize.” – Julie Aigner Clark

One of the key characteristics of successful women entrepreneurs is the ability to balance their acts between family and business responsibilities. It’s really quite a challenge building a business alongside raising a family; and to succeed, these women entrepreneurs had to overcome this challenge. How did they overcome this challenge? How did they balance their acts? They did it by mastering the art of delegation and time management.

                “How did you balance growing the business with raising a family? You just do. I had a business, a lot of orders, and a baby howling for supper. You balance it. You give your baby supper first and then get your orders in. I have worked on more holidays… but what are you going to do?" – Lilian Vernon

10.          Strong sense of purpose

                “To courageously ensure that our business is ecologically sustainable, meeting the needs of the present without compromising the future.” – Anita Roddick

                "We must have a theme, a goal, a purpose in our lives. If you don't know where you are aiming, you don't have a goal. My goal is to live my life in such a way that when I die, someone can say, 'she cared." – Mary Kay Ash

The last characteristic possessed by successful women entrepreneurs is “a strong sense of purpose.” Critic the life of entrepreneurs such as Coco Chanel, Mary Kay Ash and Oprah Winfrey; you will observe that they live as if serving a higher purpose. And this sense of purpose reflected in their business mission. This is why their businesses and brands will stand the test of time even after their demise.

                “I was a woman with a mission. I would stop people, even buses I would stop and say, ‘Here, you’ve got to taste these cookies. Just try them.” – Debbi Fields

In conclusion, these are the ten characteristics that make up successful business women. If you aspire to become a successful business woman; then strive to develop these traits and I will see you at the top.

50 Famous Life Quotes by Business Women Entrepreneurs

I believe you are familiar with the popular saying that what a man can do, a woman can do better. I don’t know if that statement is true but what I do know is that there are women who have risen above their circumstance and taken the entrepreneurial bull by the horn.

What do you think is the secret to the success of famous women entrepreneurs such as Mary Kay Ash, Debbi Fields, Anita Roddick, Lillian Vernon, Jenny Craig and Oprah Winfrey; the richest black woman in the world? How were these successful women entrepreneurs able to balance their act between family obligations and business?

How did these famous women entrepreneurs achieve much in the fierce world of entrepreneurship and what advice do they have for aspiring women entrepreneurs? How did they surmount business challenges? How did these famous successful women entrepreneurs handle business failure? If any of the questions above matches your thinking, then please read on as I share with you the secret to the success of the famous successful business women.

In this article, I am going to share with you some famous life quotes of selected successful women entrepreneurs but this time, you will be learning directly from the horse mouth. None of the women entrepreneurs mentioned here became rich by inheritance; they all became rich and famous by starting a business from scratch. They became rich by successfully undergoing the entrepreneurial process.

Some of these famous successful women entrepreneurs inevitably became multi millionaires and others went on to become billionaires. So if you are ready to learn how to build a successful business; if you are ready to learn the secret to living a fulfilled life from multi millionaires and billionaires, then read on as the famous successful women entrepreneurs share their famous life quotes with you.

50 Famous Life Quotes by Famous Women Entrepreneurs

 Mary Kay Ash –    Mary Kay Inc

1.            “I was taught to put my best into anything I did and I can honestly say I’ve always done that. Still, there are many times when I failed, when I was disappointed.” – Mary Kay Ash

2.            I can say unequivocally that every decision we make at Mary Kay Cosmetics is based on the golden rule. Do unto others as you would have them do unto you.” – Mary Kay Ash

3.            “I envisioned a company in which any woman could become as successful as she wanted to be. The doors were wide open to opportunity for women who were willing to pay the price and had the courage to dream.” – Mary Kay Ash

4.            “We must have a theme, a goal, a purpose in our lives. If you don’t know where you are aiming, you don’t have a goal. My goal is to live my life in such a way that when I die, someone can say, ‘she cared.” – Mary Kay Ash

5.            “We treat our people like royalty. If you honor and serve the people who work for you, they will honor and serve you.” – Mary Kay Ash

 J. K. Rowling –   Billionaire author of Harry Potter series

6.            “It takes a great deal of bravery to stand up to our friends, but as much to stand up to our enemies.” – J. K. Rowling

7.            “Never be ashamed! There’s some who will hold it against you, but they are not worth bothering with.” – J. K. Rowling

8.            “I really don’t believe in magic.” – J. K. Rowling

9.            “What’s the worst that could happen? Everyone turned me down; big deal.” – J. K. Rowling

  Madame C.J. Walker -    Walker Cosmetics line

10.          “I had to make my own living and my own opportunity! But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them” – Madam C.J. Walker

11.          “I am a woman who came from the cotton fields of the South. From there I was promoted to the washtub. From there I was promoted to the cook kitchen. And from there I promoted myself into the business of manufacturing hair goods and preparations….I have built my own factory on my own ground.” – Madam C.J. Walker

12.          “I got my start by giving myself a start.” – Madam C.J. Walker

13.          “I am not satisfied in making money for myself. I endeavor to provide employment for hundreds of the women of my race.” – Madam C.J. Walker

14.          “There is no royal flower-strewn path to success. And if there is, I have not found it for if I have accomplished anything in life it is because I have been willing to work hard.” – Madam C.J. Walker

15.          “Perseverance is my motto.” – Madam C.J. Walker

 Coco Chanel –   Chanel Inc

16.          “There is time for work, and time for love. That leaves no other time.´- Coco Chanel

17.          “I invented my life by taking for granted that everything I did not like would have an opposite, which I would like.” – Coco Chanel

18.          “When I can no longer create anything, I’ll be done for.” – Coco Chanel

Jenny Craig –     Jenny Craig Inc

19.          “What really started me off in this business was my own research into what kinds of foods I should be eating.” – Jenny Craig

20.          “Whoever heard of cholesterol when I first started in this business in 1959? People didn’t pay any attention to what they ate. I noticed a need before it was a whole industry and in that sense, I was entrepreneurial.” – Jenny Craig

21.          “I always told people in Australia that I had a 24-hour job because we’d get up in the morning; talk business at breakfast and again at dinner. Our whole life was the business when we were developing the company.” – Jenny Craig

22.          “I am an extreme optimist, while my husband likes to play the devil’s advocate. He wants to know the worst thing that can happen. I don’t even want to think about the worst case. I provide the discipline and stick-to-it-iveness.” – Jenny Craig

23.          “I really love what I do. It’s extremely motivating to me.” – Jenny Craig

24.          “My husband always tells me that I’m the most unrelenting person he’s ever met, and it’s true. If I make a commitment to something I will stick to it no matter what.” – Jenny Craig

Anita Roddick -   The Body Shop

25.          “ I started The Body Shop in 1976 simply to create a livelihood for myself and my two daughters, while my husband, Gordon, was trekking across the Americas. I had no training or experience and my only business acumen was Gordon’s advice to take sales of £300 a week. Nobody talks about entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking. Running that first shop taught me business is not financial science; it’s about trading: buying and selling.” – Anita Roddick

26.          “It’s about creating a product or service so good that people will pay for it. Now 30 years on The Body Shop is a multi local business with over 2.045 stores serving over 77 million customers in 51 different markets in 25 different languages and across 12 time zones. And I haven’t a clue how we got here!” – Anita Roddick

27.          “There is no scientific answer for success. You can’t define it. You’ve simply got to live it and do it.” – Anita Roddick

28.          “We were most creative when our back was against the wall.”

29.          “It is a critical job of any entrepreneur to maximize creativity, and to build the kind of atmosphere around you that encourages people to have ideas. That means open structures, so that accepted thinking can be challenged.”

30.          “Whatever you do, be different – that was the advice my mother gave me, and I can’t think of better advice for an entrepreneur. If you’re different, you will stand out.”

50 Famous Life Quotes by Famous Business Women Entrepreneurs

Candice Carpenter -   iVillage.com

31.          “Success is about creating value.” – Candice Carpenter

32.          “My character was formed by mountaineering. Enduring rainy slopes and cold bivouacs to spend an hour at the top of the world shaped my ability to handle adversity.” – Candice Carpenter

33.          “If you are committed to creating value and if you aren’t afraid of hard times; obstacles become utterly unimportant. A nuisance perhaps; but with no real power. The world respects creation; people will get out of your way.” – Candice Carpenter

                Martha Stewart – Martha Stewart Living OmniMedia

34.          “It is within everyone’s grasp to be a CEO.” – Martha Stewart

35.          “I’m a maniacal perfectionist. And if I weren’t, I wouldn’t have this company.” – Martha Stewart

 Julie Aigner Clark –   Baby Einstein

36.          “I believe the name of our company was incredibly important to our success. When I first created it, I didn’t think I was creating a company just the name of a video. However, the name Baby Einstein caught on very fast and became the generic name for baby videos.” – Julie Aigner Clark

37.          “When my company started really growing, I didn’t have any help in my house at all. I had the upkeep of my daily life, I had a one year old and a three year old, and I had my house. So I had to prioritize.” – Julie Aigner Clark

Lillian Vernon

38.          “It was a risk. I had a husband and I was pregnant with my oldest son. But I don’t look at risk the way other people do. When you’re an entrepreneur, you have to go in feeling like you’re going to be successful.” – Lillian Vernon

39.          ”I don’t know how you can learn instinct. If you figure it out, call me back. I have been more right than wrong about merchandise over the years.” – Lillian Vernon

40.          “How do you balance growing the business with raising a family? You just do. I had a business, a lot of orders, and a baby howling for supper. You balance it. You give your baby supper first and then get your orders in. I have worked on more holidays… but what are you going to do? – Lillian Vernon

41.          “I became successful due to several reasons. I never gave up and I never let anyone or anything get in my way. I use the power of positive thinking to tackle obstacles and challenges so they don’t defeat me. Passion for my work and my business is another important reason. I really love my work and I get great satisfaction from it.” – Lillian Vernon

 Rachael Ray

42.          “I did 30 Minute Meals for five years on local television, and I earned nothing the first two years. Then I earned $50 a segment. I spent more than that on gas and groceries, but I really enjoyed making the show and I loved going to a viewer’s house each week. I knew I enjoyed it, so I stuck with it even though it cost me.” – Rachael Ray

43.          “You have to be open-minded when those early opportunities present themselves; take advantage of them whether they’re going to make you a lot of money or not.” – Rachael Ray

44.          “Decide what it is that you are and then stay true to that thing. My brand is based very much on how I live my day-to-day life.” – Rachael Ray

Estee Lauder

45.          “I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard.” – Estee Lauder

46.          “I didn’t get there by wishing for it or hoping for it, but by working for it.” – Estee Lauder

47.          “I was a woman with a mission and single-minded in the pursuit of my dream.” – Estee Lauder

 Oprah Winfrey –      Harpo Production Studios

48.  “I am a woman in the process; I’m just trying to be like everybody else. I try to take every conflict, every experience and learn from it. Life is never dull.” – Oprah Winfrey

49.  “I don’t believe in failure. It’s not failure if you enjoyed the process.” – Oprah Winfrey

50.  “My philosophy is that not only are you responsible for your life but doing the best at this moment puts you in the best place for the next moment.” – Oprah Winfrey

Famous Successful Business Women and the Secret to their Success

I believe you are familiar with the popular saying that what a man can do, a woman can do better. I don’t know if that statement is true but what I do know is that there are women who have risen above their circumstance and taken the entrepreneurial bull by the horn.

What do you think is the secret to the success of famous business women such as Mary Kay Ash, Debbi Fields, Anita Roddick, Lillian Vernon, Jenny Craig and Oprah Winfrey; the richest black woman in the world? How were these successful women entrepreneurs able to balance their act between family obligations and business?

How were these famous business women able to achieve much in the fierce world of entrepreneurship and what advice do they have for aspiring women entrepreneurs? How did they surmount business challenges? How did these famous successful business women handle business failure? If any of the questions above matches your thinking, then please read on as I share with you the secret to the success of the famous successful business women.

In this article, you are going to learn the exact secret to the success of some selected successful women entrepreneurs but this time, you will be learning directly from the horse mouth. None of the women entrepreneurs mentioned here became rich by inheritance; they all became rich and famous by building a business from scratch. They became rich by successfully undergoing the entrepreneurial process.

Some of these famous successful business women inevitably became multi millionaires and others went on to become billionaires. So if you are ready to learn how to build a successful business; if you are ready to learn from multi millionaires and billionaires, then read on as the famous successful business women share their business success secrets with you.

  Famous Successful Business Women: What’s the Secret to their Success?

  • Mary Kay Ash – Mary Kay Inc

1.            “I was taught to put my best into anything I did and I can honestly say I’ve always done that. Still, there are many times when I failed, when I was disappointed.” – Mary Kay Ash

2.            I can say unequivocally that every decision we make at Mary Kay Cosmetics is based on the golden rule. Do unto others as you would have them do unto you.” – Mary Kay Ash

3.            “I envisioned a company in which any woman could become as successful as she wanted to be. The doors were wide open to opportunity for women who were willing to pay the price and had the courage to dream.” – Mary Kay Ash

4.            “We must have a theme, a goal, a purpose in our lives. If you don’t know where you are aiming, you don’t have a goal. My goal is to live my life in such a way that when I die, someone can say, ‘she cared.” – Mary Kay Ash

5.            “We treat our people like royalty. If you honor and serve the people who work for you, they will honor and serve you.” – Mary Kay Ash

  • J. K. Rowling –   Billionaire author of Harry Potter series

6.            “It takes a great deal of bravery to stand up to our friends, but as much to stand up to our enemies.” – J. K. Rowling

7.            “Never be ashamed! There’s some who will hold it against you, but they are not worth bothering with.” – J. K. Rowling

8.            “I really don’t believe in magic.” – J. K. Rowling

9.            “What’s the worst that could happen? Everyone turned me down; big deal.” – J. K. Rowling

  • Madame C.J. Walker -    Walker Cosmetics line

10.          “I had to make my own living and my own opportunity! But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them” – Madam C.J. Walker

11.          “I am a woman who came from the cotton fields of the South. From there I was promoted to the washtub. From there I was promoted to the cook kitchen. And from there I promoted myself into the business of manufacturing hair goods and preparations….I have built my own factory on my own ground.” – Madam C.J. Walker

12.          “I got my start by giving myself a start.” – Madam C.J. Walker

13.          “I am not satisfied in making money for myself. I endeavor to provide employment for hundreds of the women of my race.” – Madam C.J. Walker

14.          “There is no royal flower-strewn path to success. And if there is, I have not found it for if I have accomplished anything in life it is because I have been willing to work hard.” – Madam C.J. Walker

15.          “Perseverance is my motto.” – Madam C.J. Walker

  • Coco Chanel –   Chanel Inc

16.          “There is time for work, and time for love. That leaves no other time.´- Coco Chanel

17.          “I invented my life by taking for granted that everything I did not like would have an opposite, which I would like.” – Coco Chanel

18.          “When I can no longer create anything, I’ll be done for.” – Coco Chanel

 Famous Successful Business Women: What’s the Secret to their Success?

  • Jenny Craig –     Jenny Craig Inc

19.          “What really started me off in this business was my own research into what kinds of foods I should be eating.” – Jenny Craig

20.          “Whoever heard of cholesterol when I first started in this business in 1959? People didn’t pay any attention to what they ate. I noticed a need before it was a whole industry and in that sense, I was entrepreneurial.” – Jenny Craig

21.          “I always told people in Australia that I had a 24-hour job because we’d get up in the morning; talk business at breakfast and again at dinner. Our whole life was the business when we were developing the company.” – Jenny Craig

22.          “I am an extreme optimist, while my husband likes to play the devil’s advocate. He wants to know the worst thing that can happen. I don’t even want to think about the worst case. I provide the discipline and stick-to-it-iveness.” – Jenny Craig

23.          “I really love what I do. It’s extremely motivating to me.” – Jenny Craig

24.          “My husband always tells me that I’m the most unrelenting person he’s ever met, and it’s true. If I make a commitment to something I will stick to it no matter what.” – Jenny Craig

  • Anita Roddick -The Body Shop

25.          “ I started The Body Shop in 1976 simply to create a livelihood for myself and my two daughters, while my husband, Gordon, was trekking across the Americas. I had no training or experience and my only business acumen was Gordon’s advice to take sales of £300 a week. Nobody talks about entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking. Running that first shop taught me business is not financial science; it’s about trading: buying and selling.” – Anita Roddick

26.          “It’s about creating a product or service so good that people will pay for it. Now 30 years on The Body Shop is a multi local business with over 2.045 stores serving over 77 million customers in 51 different markets in 25 different languages and across 12 time zones. And I haven’t a clue how we got here!” – Anita Roddick

27.          “There is no scientific answer for success. You can’t define it. You’ve simply got to live it and do it.” – Anita Roddick

28.          “We were most creative when our back was against the wall.”

29.          “It is a critical job of any entrepreneur to maximize creativity, and to build the kind of atmosphere around you that encourages people to have ideas. That means open structures, so that accepted thinking can be challenged.”

30.          “Whatever you do, be different – that was the advice my mother gave me, and I can’t think of better advice for an entrepreneur. If you’re different, you will stand out.”

  • Candice Carpenter – iVillage.com

31.          “Success is about creating value.” – Candice Carpenter

32.          “My character was formed by mountaineering. Enduring rainy slopes and cold bivouacs to spend an hour at the top of the world shaped my ability to handle adversity.” – Candice Carpenter

33.          “If you are committed to creating value and if you aren’t afraid of hard times; obstacles become utterly unimportant. A nuisance perhaps; but with no real power. The world respects creation; people will get out of your way.” – Candice Carpenter

  • Martha Stewart – Martha Stewart Living OmniMedia

34.          “It is within everyone’s grasp to be a CEO.” – Martha Stewart

35.          “I’m a maniacal perfectionist. And if I weren’t, I wouldn’t have this company.” – Martha Stewart

  • Julie Aigner Clark –          Baby Einstein

36.          “I believe the name of our company was incredibly important to our success. When I first created it, I didn’t think I was creating a company just the name of a video. However, the name Baby Einstein caught on very fast and became the generic name for baby videos.” – Julie Aigner Clark

37.          “When my company started really growing, I didn’t have any help in my house at all. I had the upkeep of my daily life, I had a one year old and a three year old, and I had my house. So I had to prioritize.” – Julie Aigner Clark

  • Lillian Vernon

38.          “It was a risk. I had a husband and I was pregnant with my oldest son. But I don’t look at risk the way other people do. When you’re an entrepreneur, you have to go in feeling like you’re going to be successful.” – Lillian Vernon

39.          “I think there’s one secret to all successes in any merchandising business, and that’s the merchandise. I have been and still am a really great merchant. I have won many awards in the industry for being a great merchant.” – Lillian Vernon

40.          ”I don’t know how you can learn instinct. If you figure it out, call me back. I have been more right than wrong about merchandise over the years.” – Lillian Vernon

41.          “How do you balance growing the business with raising a family? You just do. I had a business, a lot of orders, and a baby howling for supper. You balance it. You give your baby supper first and then get your orders in. I have worked on more holidays… but what are you going to do? – Lillian Vernon

42.          “Work hard, that’s the bottom line. Don’t spend more money than you’ve got. Don’t spend money before you’ve got it.” – Lillian Vernon

43.          “I would advise those starting out to carefully research your niche and know your competition and the marketplace before you start a small business.” – Lillian Vernon

44.          “I became successful due to several reasons. I never gave up and I never let anyone or anything get in my way. I use the power of positive thinking to tackle obstacles and challenges so they don’t defeat me. Passion for my work and my business is another important reason. I really love my work and I get great satisfaction from it.” – Lillian Vernon

  • Estee Lauder

45.          “I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard.” – Estee Lauder

46.          “I didn’t get there by wishing for it or hoping for it, but by working for it.” – Estee Lauder

47.          “I was a woman with a mission and single-minded in the pursuit of my dream.” – Estee Lauder

  • Oprah Winfrey –   Harpo Production Studios

48.          “I am a woman in the process; I’m just trying to be like everybody else. I try to take every conflict, every experience and learn from it. Life is never dull.” – Oprah Winfrey

49.          “I don’t believe in failure. It’s not failure if you enjoyed the process.” – Oprah Winfrey

50.          “My philosophy is that not only are you responsible for your life but doing the best at this moment puts you in the best place for the next moment.” – Oprah Winfrey

The Highest Paid CEOs in the World are not Entrepreneurs

Have you ever at one time or the other admired the fortune 500 CEOs? Have you ever wished to be one of the top corporate managers? Are you building a business so that you can write yourself huge paychecks? Then you better have a rethink because the highest paid CEOs in the world are not entrepreneurs.

I recently stumbled upon an article on CNNMoney, where the highest paid CEOs of 2009 was published and I carefully went through the list. To my surprise, I discovered that majority on the list of the top twenty highest paid CEOs were not entrepreneurs or founders of the companies they were managing. You can have a quick look at the list of highest paid CEOs in the world.

   The Highest Paid CEOs in the World

1.       Larry Ellison:       Oracle Corporation –      $84.5 million

2.       Ray Elliot:             Boston Scientific –           $33.4 million

3.       Ray Irani:             Occidental petroleum –                $31.4 million

4.       Mark Hurd:         Hewlett Packard –           $24.2 million

5.       James Hackett: Anadarko petroleum –                 $23.5 million

6.       AG Lafley:           Procter & Gamble –        $23.5 million

7.       William Weldon:               Johnson & Johnson –     $22.8 million

8.       Miles White:      Abbott Laboratories –    $21.9 million

9.       Bob Iger:              Walt Disney –    $21.6 million

10.   Samuel Palmisano:          IBM –    $21.2 MILLION

11.   Robert J. Stevens:           Lockheed Martin –          $20.5 million

After running through the above list, I also saw the list below.

The Lowest Paid CEOs in the World

1.       Steve Jobs:         Apple Inc –         $1

2.       Eric Schmidt:      Google –              $245,322

3.       Warren Buffett:                Berkshire Hathaway –    $519,490

Reading this article on CNNMoney made my mind flash back to a previous article I wrote that Aliko Dangote; the richest black man in the world is not the highest man in Nigeria. In that article, I emphasized that despite being the richest black man in the world; some corporate executives and DGs of governmental agencies l know earn more salary per year than he does and the article on CNNMoney has re-emphasized that view.

Analyzing the list of the highest paid CEOs in the world, you will find out that more than 98% of those that made the list are not entrepreneurs. Larry Ellison tops the list of highest paid CEOs but I believe he deserved to be on that list because he built Oracle from scratch and is actively involved with the engineering process of the company’s product development.

I felt compelled to write this article because everyday, I come across entrepreneurs who are trying to raise capital for their business idea. Often, they come to me for advice and I offer to critique their business plan.

Looking through their business plans, I usually observe that some of these entrepreneurs assign to themselves; ridiculous salaries. When I advice they cut the salary in half or work for free, all I get is a strong resistance or excuse. Some go ahead to tell me that they deserved such salaries or they need to put food on the table. While I am not objecting to their view, I remind them that their business is still in its startup phase and may require them to work for free. Of all the entrepreneurs I have given such advice, only few heed it.

Now isn’t your business meant to pay you huge salary? It is but not in its early stage. Secondly, entrepreneurs build business for a reward higher than that of a steady paycheck. Entrepreneurs are not driven by the desire to make money; they are driven by a desire to create outstanding value that will outlive them.

“The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” – John D. Rockefeller

In retrospect, it will surprise you to know that Steve Jobs and Warren Buffett are among the lowest paid CEOs in the world. Steve Jobs is paid $1 per annum. This brings me to the question: why are the highest paid CEOs not on the list of the richest people in the world?

The answer is this;

“The highest paid CEOs are employees; not entrepreneurs.”

Larry Ellison is among the highest paid CEOs and also on the list of richest people in the world because he’s an entrepreneur. Warren Buffett, Steve Jobs and other lowest paid CEOs are on the top list of the world’s richest people.

Warren Buffett is not on the list of the highest paid CEOs; yet, he’s the richest investor in the world. Bill Gates is not the highest paid CEO but he’s the richest man in the world. Mark Zuckerberg is not among the highest paid CEOs but he is the youngest billionaire in the world and Aliko Dangote is not the highest paid CEO in Nigeria, but he’s the richest black man in the world. Why this discrepancy?

The discrepancy lies not in their paycheck but in their motive for undertaking a task. Entrepreneurs are known to work for free, for many years without pay while the top corporate managers are in the game for the paycheck and security.

“You know you are on the road to success if you would do your job and not get paid for it.” – Oprah Winfrey

Another reason why the highest paid CEOs are not entrepreneurs is because entrepreneurs get their pay in a different form order than a salary. Entrepreneurs build businesses for the asset; not the money. Note the difference.

 “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.” – Donald Trump

“Money was never a big motivation for me except as a way to keep score. The real excitement is playing the game.” – Donald Trump

Entrepreneurs are in business to acquire assets; not monthly paychecks. They are not the highest paid CEOs because their reward comes in the form of royalties, dividends, rental income, increase in asset base and business growth.

Entrepreneurs are not the highest paid CEOs because they don’t think short term. They think long term; they think about the future generation and they think about creating value that will outlive them. Entrepreneurs don’t strive to earn the highest paycheck; they strive to build an asset that will continue to add value and better the lives of humanity.

“The richest people in the world build networks; everyone else is trained to look for work.” – Rich Dad

As a final note, I want you to reflect on the lessons of this article and answer the following questions: Are you working for a paycheck or are you working for free to build an asset? Do you need the highest paying job or a long lasting business? Do you want to be among the highest paid CEOs or among the richest people in the world? Only you can answer these questions; I rest my case.

“The problem with having a job is that it gets in the way of getting rich.” – Rich Dad

11 Traits of Exceptionally Creative Business Leaders

What special traits do creative business leaders and successful entrepreneurs such as Bill Gates, Steve Jobs, Warren Buffett, Richard Branson, Henry Ford and Aliko Dangote possess that you don't? Have you ever wondered what it takes to build a successful business from scratch? What does it take to be at the helm of affairs of a Fortune 500 company? If you seek answer to any of these questions, then read on.

                "In the course of building a business, leadership skill is not an option. It's a necessity." – Rich Dad

To successfully complete the entrepreneurial process, you must be a leader but to build a business that will be a pacesetter in any industry it finds itself; becoming a leader is just the beginning. You have to be creative and exceptional in your leadership style. Being creative and exceptional requires you adopt a strong, tested and proven leadership strategy.

                "Inventories can be managed but people must be led." – Henry Ross Perot

Today, I am going to highlight 15 traits possessed by creative business leaders who have shown exceptionality in their endeavors. I am not highlighting these traits to thrill you; rather, I am highlighting them so that you can look into yourself and know the traits you lack.

                "If there is such a thing as good leadership, it is to give a good example. I have to do so for all the IKEA employees." – Ingvar Kamprad

With these 15 traits in you, growing your small business startup at a very fast rate will be a piece of cake. Possession of these 15 traits is the sole reason the school drop out billionaires were able to become great business leaders, build successful businesses and ultimately became rich. Have you ever wondered why Facebook grew so fast? Or why Mark Zuckerberg became the youngest billionaire in the world? Or how Aliko Dangote emerged the richest black man in the world? Well, the answer can be found in the 15 traits highlighted below.

                11 Traits of Exceptionally Creative Business Leaders

 

1.            Integrity

                "The most important thing in your business relationships is your reputation for honesty. If you can genuinely and sincerely fake honesty, you will be a success. Never doubt it." – The Mafia Manager

The first trait possessed by exceptionally creative business leaders is integrity. The Oxford dictionary defines integrity as the quality of being honest and fair. It also defined integrity as the state of being whole or unified.

                "Real integrity is doing the right thing, knowing that nobody's going to know if you did it or not." – Oprah Winfrey

Of all the traits I will be sharing with you, integrity is the most important. But unfortunately, it's difficult to find entrepreneurs of integrity today and the past case of Enron, WorldCom and Arthur Anderson proves it. Integrity is supreme, it is the thin line between the over achievers and the average. Building a business on the foundation of integrity is a recipe for survival; take a look at businesses that have stood the test of time and you will see integrity at the base. General Electric is one of such businesses.

                "I shall argue that strong men conversely know when to compromise and that all principles can be compromised to serve a greater purpose." – Andrew Carnegie

The importance of integrity cannot be over emphasized. I have seen entrepreneurs raise billions of dollars in capital without stress because they have a reputation for honesty. Integrity can be your leverage if you hope to rise to leadership position in the future and it can also be your winning competitive strategy. Take a closer look at the life of exceptional business leaders and you will see they are an embodiment of integrity. Warren Buffett is a good example of an exceptional business leader with integrity.

                "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

So if you want to be an exceptional business leader, then you must be a person of integrity. You must have strong self imposed standards and stick to it because it takes discipline to manifest integrity. In fact, you must be yourself and be a man of your words. Be honest, be open; be disciplined.

 

2.            They are Excellent Strategists

                "The best thing to invest in your business is your time. To schedule, plan and use time effectively, know your turf and know your objectives. Assess the obstacles and opportunities, then devise your strategies." – The Mafia Manager

Entrepreneurship is a game and to emerge a winner in a game, you must be strategic in approach. The ability to strategize is what separates exceptional business leaders from the average one. Creative business leaders are referred to as masters of the game because they are excellent strategists. Bill Gates, Jack Welch and Alfred Sloan are the master strategists of the business world.

                "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

To become an excellent strategist, you must develop your critical thinking skill; you must learn to think critically and strategically. Critical thinking is essential to becoming an excellent strategist and an exceptional business leader.

 

3.            Humility

                "To learn new things; you might need to unlearn old thoughts and tricks. Both processes can never be achieved without humility." – Ajaero Tony Martins

Show me a humble leader and I will show you an exceptional leader. What does humility have to do with being an exceptional business leader? My answer is everything. It takes humility to serve; it takes humility to learn and it takes humility to admit your mistakes.  So therefore, it takes humility to be an exceptional business leader. Nobody will willingly follow a proud and arrogant leader except they are forced to. Take a look at successful entrepreneurs such as Aliko Dangote, Mike Adenuga of Globacom Nigeria, Cosmos Maduka of Coscharis Group, Bill Gates and Li Ka Shing; these men are epitomes of humility.

                "One of the great things about being willing to try new things and make mistakes is that making mistakes keeps you humble. People who are humble learn more than people who are arrogant." – Rich Dad

 

4.            They are Proactive Learners

Highly exceptional business leaders are proactive learners. They know that no man has monopoly of knowledge; they know their cup must never be full so they are always willing to learn at every giving chance.

Sometime ago, Bill Gates scheduled a visit to meet Warren Buffett. According to Bill Gates schedule, the meeting was to last an hour but Bill Gates over stayed his time by nine hours. The meeting ended up lasting ten hours because Bill Gates and Warren Buffett discovered they both have something to learn from each other.

Being willing to sacrifice other appointments to learn something you don’t know is an attribute of an exceptional business leader in the making. To be a successful leader, you must be willing to expand your context at every giving opportunity; your cup must never be full.

                “A cup that is full is useless.” – Chinese proverb

 

5.            Decisiveness

                "You have to act and act now." – Larry Ellison

One important trait possessed by exceptional business leaders is the ability to arrive quickly at a decision. Most people avoid being responsible for their actions; they hate being the one to take the last decision.

As an entrepreneur and business leader, you are the pilot of your business and it’s up to you to determine the direction your business goes. No matter how smart your business team is, you hold the last decision. In retrospect, a single decision; just one decision can either make or break your business.

                "Screw it, let's do it." – Richard Branson

I believe being decisive is an exceptional trait possessed by creative business leaders. These set of business leaders face reality with guts and take their stand; they make decisions with the probable consequence in mind and they are prepared to face it.

                "Before making an important decision, get as much as you can of the best information available and review it carefully, analyze it and draw up worst case scenarios. Add up the plus or minus factors, discuss it with your team and do what your guts tell you to do." – The Mafia Manage

 

6.            They are Excellent Communicators

                "The most important thing in communication is hearing what isn't said." – Peter F. Drucker

Are you a communicator? Are you good at selling? If your answer to the two questions above is no, then you are never going to be an exceptional business leader. Take a close look at the highly exceptional business leaders and you will observe that they are excellent communicators and sales people. When they speak, people listen. Bill Gates, Steve Jobs are critical examples.

Show me a successful business leader and I will show you an excellent communicator. Learning and harnessing your communication skill is very vital to your bid of becoming an exceptional business leader.

 

7.            Exceptional Business Leaders are Team Players

                "Business and investing are team sports." – Rich Dad

Aliko Dangote; the richest black man in the world once attributed his success to his business team and if you should take a critical look at his statement, you will observe the truth in its entirety. No exceptional business leader stands alone; they surround themselves with men smarter than they are.

                "Successful businessmen share the ability to hire people smarter than they are." – Dillard Munford

They are also good networkers; they network with other exceptional business leaders. They know that birds of the same feather must flock together.

 

8.            They are Flexible

                "Willingness to change is a strength, even if it means plunging part of the company into total confusion for a while." – Jack Welch

Flexibility is another outstanding trait possessed by highly exceptional business leaders. They are always willing to try out new strategies and innovations even when there is massive risk involved. In retrospect, lack of flexibility made Henry Ford lose the leadership position of Ford Motor Company to a more flexible General Motors led by Alfred P. Sloan.

                “Defeat your enemy by flexibility and strategy.” – Sun Tzu

                "The competition to hire the best will increase in the years ahead. Companies that give extra flexibility to their employees will have the edge in this area." – Bill Gates

 

9.            Creative Business Leaders are Excellent Negotiators

                "If you cannot negotiate, you will end up getting good deals at exorbitant prices or worse still, you will get nothing." – Ajaero Tony Martins

I don’t think I need to stress much on this because the lesson is clear. If you cannot negotiate deals; forget about being an entrepreneur, talk more being a business leader.

 

10.          They are Excellent Motivators

"I am looking for a lot of men who have the infinite capacity to not know what can't be done." – Henry Ford

Exceptional business leaders are masters of motivation. They know how to use words to stir the spirit of their employees. They know how to motivate employees; they know how to bring out the best in their employees.

                "Outstanding leaders go out of their way to boost the self esteem of their personnel. If people believe in themselves, it's amazing what they can accomplish." – Sam Walton

 

11.          Highly Exceptional business leaders thrive on Criticism

Show me a business leader who hasn’t faced stiff criticism and I will show you a mediocre leader. All great business leaders I know have at one time or the other faced severe criticism and media attack. From Ingvar Kamprad, Bill Gates, John D. Rockefeller, Henry Ford, J. Paul Getty to Mark Zuckerberg and George Soros.

                “There will be times when you will have to be abrasive, even brutal to members of your staff. Don't worry that your people will say bad things about you because of this. They already have. But in general, try to be pleasant and accommodating. Try to please the greatest number who work for you that you can; antagonize the fewest. Blow smoke.” – The Mafia Manager

All these men have faced mass criticism but they were not deterred; they remain focus to there calling and got to the place of their dream. So if it’s your utmost desire to become a creative and exceptional business leader; then you must be prepared to face criticism. It’s not optional; it’s a must.

                "Dare to risk public Criticism" – Mary Kay Ash

As a final note, I want to state clearly that it’s within the reach of everyone to be an exceptional business leader but unfortunately, many won’t dare to reach for this height because they hate being responsible for their actions. So if becoming an exceptional business leader is your dream, then take these 11 traits to heart and go for that dream. Good luck.

Oprah Winfrey Quotes: Business Success Secrets of a Talk Show Billionaire

Today, we will be learning the business success secrets of Oprah Winfrey; the richest black woman in the world, talk show billionaire and founder of Harpo Production Studios. Though she’s not on our list of school drop out billionaires; Oprah Winfrey possesses the entrepreneurial prowess of billionaires such as Steve Jobs and Larry Ellison. Below are some famous business success quotes of Oprah Winfrey.

Oprah Winfrey Quotes: Business Success Secrets of a Talk Show Billionaire

 

1.            "As you become clear about whom you really are; you will be better able to decide what's best for you – the first time around." – Oprah Winfrey

2.            "Be thankful for what you have, you will end up having more. If you concentrate on what you don't have, you will never ever have enough."

3.            "Biology is the least of what makes one a mother."

4.            "Books were my pass to personal freedom. I learned to read at age three and soon discovered that there was a whole world to be conquered that went beyond our farm in Mississippi.

5.            "Breathe, let go and remind yourself that this very moment is the one you know you have for sure."

6.            "Be the one thing you think you cannot do. Fail at it. Try again. Do better the second time. The only people who never tumble are those who never mount the high wire. This is your moment, own it."

7.            "Excellence is the best deterrence to racism and sexism."

8.            "Follow your instincts, that's where true wisdom manifest itself."

9.            "For every one of us that succeeds, it's because there's somebody there to show you the way out."

10.          "I always knew I was destined for greatness."

Oprah Winfrey Quotes: Business Success Secrets of a Talk Show Billionaire

 

12.          "I am a woman in the process; I’m just trying to be like everybody else. I try to take every conflict, every experience and learn from it. Life is never dull."

13.          "I don't believe in failure. It's not failure if you enjoyed the process."

14.          "I don't think of myself as a poor deprived ghetto girl who made good. I think of myself as somebody who from an early age knew I was responsible for myself, and I had to make good."

15.          "I don't think you ever stop giving. I really don't. I think it's an on-going process and it's not just about being able to write a check. It's about being able to touch somebody's life."

16.          "I feel that luck is preparation meeting opportunity."

17.          "I have a lot of things to prove to myself. One is that I can live fearlessly."

18.          "I still have my feet on the ground, I just wear better shoes."

19.          "I was raised to believe that excellence is the best deterrent to racism and sexism and that's how I operate my life."

20.          "I am black, I don't feel burdened by it and I don't think it's a huge responsibility. It's part of who I am. It does not define me."

Oprah Winfrey Quotes: Business Success Secrets of a Talk Show Billionaire

 

22.          "If you want to accomplish the goals of your life, you have to begin with the spirit."

24.          It's not until you come to a spiritual understanding of who you are – not necessarily a religious feeling, but deep down the spirit within – that you can begin to control."

25.          "It's much easier for me to make major multi million dollar decisions than it is to decide on a carpet for my front porch. That's the truth."

26.          "Lots of people wants to ride with you in the limo but what you want is someone who will take the bus with you when the limo breaks down."

27.          "My philosophy is that not only are you responsible for your life but doing the best at this moment puts you in the best place for the next moment."

28.          "Passion is energy. Feel the power that comes from focusing on what excites you."

29.          "Real integrity is doing the right thing, knowing that nobody's going to know if you did it or not."

30.          "Surround yourself with only people who are going to lift you higher."

Oprah Winfrey Quotes: Business Success Secrets of a Talk Show Billionaire

 

31.          "The biggest adventure you can take is to leave the life of your dreams."

32.          "The greatest discovery of all time is that a person can change by merely changing his attitude."

33.          "The greatest thing you fear most has no power. Your fear of it is what has power. Facing the truth really will set you free."

34.          "The whole point of being alive is to evolve into the person you were intended to be."

35.          "Think like a queen. A queen is not afraid to fail. Failure is another stepping stone to greatness."

36.          "Turn your wounds into wisdom."

37.          "Understanding that the right to choose your own path is a sacred privilege. Use it. Dwell in possibility."

38.          "What God intended for you goes beyond anything you can imagine."

39.          "What material success does is provide you with the ability to concentrate on other things that really matter. And that is being able to make a difference not only in your own life but in other people's lives."

40.          "When I look into the future, it's so bright that it burns my eyes."

                Oprah Winfrey Quotes: Business Success Secrets of a Talk Show Billionaire

 

41.          "Where there is no struggle, there is no strength."

42.          "You know you are on the road to success if you would do your job and not get paid for it."

Oprah Winfrey: The Most Famous, Richest Black Woman in the world

The story of Oprah Winfrey is such an inspiring one. It is a story that reminds us that our passion can take us to any height we desire. It is a story of how a once sexually abused drug addict rose from merely reciting poetry at church and public events to become one of the most famous, richest black woman in the world.

Oprah Winfrey was born in Kosciusko, Mississippi in 1954 to unmarried parents. She was raised by her grand mother and at age six, she was sent off to live with her mother in Milwaukee. When Oprah Winfrey was nine years old, she was sexually assaulted by some men trusted by her mother. Confused and emotionally hurt, she ran away from home, took to drugs and sex to overcome her trauma. Her frustrated mother finally sent her to live with her father in Nashville.

Oprah Winfrey: The Most Famous, Richest Black Woman in the world

Oprah’s father was a strict man, and in no time, Oprah was back in school. At the age of 12, Oprah was paid $500 for giving a speech and her passion for speaking was unleashed to the fullest. At the age of 16, Oprah Winfrey won a speaking contest that awarded her full scholarship to the Tennessee State University. She also won two beauty pageants while studying at the Tennessee University. These beauty pageants became her leverage to get into the world of talk shows. These achievements took Oprah Winfrey off our list of school drop out billionaires.

After graduating, Oprah Winfrey took a job as a newscaster with WJZ-TV in Baltimore, Maryland. In 1977, she was switched by the station to co-host a morning talk show with Richard Sher called “Baltimore is talking.” Recalling her first experience on that job, she said, “This is what I was born to do. It is more like breathing.“

Oprah Winfrey spent seven years doing shows with Sher. It was with these shows that she built her confidence and self esteem. Her show began to gain public attention and Oprah Winfrey was being regarded as a rising authority in the talk show world.

Oprah Winfrey moved to Chicago in 1984 to anchor a dying morning show called “A.M Chicago,” which was aired on WLS-TV. Her first strategic move was to venture into more controversial topics and before she knew it, A.M Chicago was back on top. To compliment her growing popularity, the show was renamed “The Oprah Winfrey Show.“

Realizing the fact that control is more essential than money, Oprah Winfrey started her own production company called Harpo Studios Productions. With her own production studio in place, Oprah Winfrey strategically negotiated some deals with her TV host and those deals propelled her into the Forbes list of world billionaires.

Today, her company Harpo Entertainment Group is became a formidable force in the film and television industry. After buying up the right to the Oprah Winfrey Show, she became the first woman in history to own and produce her own talk show. Smart move, isn’t it?

Between 2004 and 2006, Oprah Winfrey was worth about $1.5billion and she was the only black woman on the Forbes list of world Billionaires thus; making Oprah the first African – American Billionaire. She also became the most famous, richest black woman in the world. As at 2010, Oprah Winfrey remains the richest black woman in the world while Aliko Dangote is the richest black man in the world.

Oprah Winfrey was on the list of Time Magazine’s 100 most influential people in the 20th century. In 1988, she received a Lifetime Achievement Award from the National Academy of Television Arts and Sciences. In 1999, she received the National Books Foundation’s 50th anniversary gold medal for her services to books and authors. In 2010, she became the richest black person in the world with an estimated net worth of $2.5billion. Not bad for a woman who discovered her passion for public speaking and held on to that passion for many years.

Oprah Winfrey has proven to all that a simple hobby can actually turn into a billion dollar business. One lesson I want to pull out from the Oprah Winfrey story is this; your hobby or passion will never make you a dime unless you build a business around it. Oprah also highlighted the need for control. Had she not started Harpo Studios Production, she probably would not have become the most famous, richest black woman in the world.