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17 Uncommon Traits of Billionaires

What special traits do the billionaires of this world possess that others don’t? Is there any special skill or uncommon trait I must possess before I can become a billionaire? What trait propelled the school drop out billionaires to success? Were people like Bill Gates, Warren Buffett and Mark Zuckerberg born to be billionaires? Well, read on to find the answers you seek.

In this article, I will be revealing to you 17 uncommon traits of billionaires. So if it’s your dream to become a billionaire, then you might as well start developing these billionaire traits gradually. Without wasting much of your time, below are 17 uncommon traits of billionaires.

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

1.  Billionaires start small

Most self made billionaires were not born billionaires. They were born like every other human but they desired to be exceptional. Sometimes, most people believe that billionaires such as Bill Gates and Mark Zuckerberg emerged overnight to become billionaires. That’s definitely not true.

Most of the billionaires today were nobody’s sometime ago but they started small and kept at it. Bill Gates, Mark Zuckerberg, Michael Dell, Jerry Yang and David Filo, Larry Page and Sergey Brin started from the Dormitory of their various schools.

Jeff Bezos, Henry Ford and Steve Jobs started small in their garages. Ray Kroc started as a salesman; Larry Ellison started as a freelance programmer; Li Ka Shing also started small while Dhirubhai Ambani started as a petrol station attendant. The illustrations above prove that most billionaires had a humble beginning; they started small.

2.  They think Big

“I like thinking big. If you’re going to be thinking anything, you might as well think big.” – Donald Trump

Another uncommon trait of billionaires is that they think big. They refused to allow their creative imagination be hindered by race, age or background. Though they started from scratch; they dreamed big and worked towards that dream. They didn’t just emerge billionaires overnight; they desired it, they hungered for it and worked towards making that desire a reality.

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren Buffett

3. Billionaires take calculated risk

“To win big, you sometimes have to take big risks.” – Bill Gates

Most people abhor taking risk but billionaires know how to take calculated risk. Instead of shying away from taking risk; what billionaires do is to put up a strong risk management strategy and then go ahead to take that risk. Their ability to take calculated risk is the reason they emerged billionaires.

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

4. They are competitive

“When somebody challenges you, fight back. Be brutal, be tough.” – Donald Trump

“And obviously from our own personal point of view, the principal challenge is a personal challenge.” – Richard Branson

The fourth trait of billionaires is competitiveness. Most people dread competition but billionaires thrive in competitive environments. They believe that competition brings out the best in them so they seek it out.

“You don’t have to be the biggest to beat the biggest.” – Henry Ross Perot

“The competitor to be feared is one who never bothers about you at all but goes on making his own business better all the time.” – Henry Ford

“We have always had a pretty competitive ferocious battle with British Airways. It lasted about 14 years and we are very pleased to have survived it.” – Richard Branson

5. They are focused

“The wise man put all his eggs in one basket and watches the basket.” – Andrew Carnegie

Take a look at billionaires and you will observe they are focused in their dealings. They don’t try to do many things at once; they focus on one. When it comes to business; billionaires are focused. Bill Gates and Larry Ellison focused on software; Aliko Dangote, the richest black man in the world focused on commodities. Ray Kroc, Dave Thomas and Carl Linder focused on fast foods.

“Diversification is a protection against ignorance. It makes very little sense to those who know what they are doing.” – Warren Buffett

Warren Buffett, George Soros, John Templeton and Peter Lynch focused on stocks as their preferred investment vehicle. Donald Trump is focused on real estate. Michael Milken focused on junk bond and that’s why he was referred to as the junk bond king. Ralph Lauren and Giorgio Armani focused on fashion while Anita Roddick and Mary Kay Ash focused on beauty care (cosmetics).

Michael Dell and Ted Waitt focused on computers while John D. Rockefeller and J. Paul Getty focused on oil. Andrew Carnegie and Lakshmi Mittal focused on steel. Sam Walton, Philip Green, Ingvar Kamprad and J.C. Penny focused on retailing. Walt Disney, David Geffen, Martha Steward and Oprah Winfrey focused on entertainment while Henry Ford focused on automobiles. The list goes on and on.

“The men who have succeeded are men who have chosen one line and stuck to it.” – Andrew Carnegie

6.  They are driven by passion

“Passion is what drives me forward. Passion is what makes me go to bed at 2am and wake up at 6am.” – Aliko Dangote

Listen to billionaires speak and you will sense a kind of passion in them. Billionaires are passionate about their calling and they pursue this calling with vigor. It’s this passion in them that keeps them going; despite their wealth, their passion keeps them working for long hours.

“Without passion, you don’t have energy. Without energy, you have nothing.” – Warren Buffett

7. They are goal getters

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

Billionaires are goal getters. They spend time to set goals that are high and challenging but realistic and attainable; and they don’t rest on their oars until their set goals are achieved. To them, life without goals set and achieved is life wasted.

“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

“I think I am very goal oriented. I’d like to win the America’s cup. I’d like Oracle to be the No 1 software company in the world. I still think it is possible to beat Microsoft.” – Larry Ellison

“A good goal is like a strenuous exercise, it makes you stretch.” – Mary Kay Ash

8. They thrive on criticism

“Dare to risk public Criticism.” – Mary Kay Ash

I have never seen a billionaire that hasn’t at one time or the other been criticized. Bill Gates, John D. Rockefeller, Steve Jobs, Mark Zuckerberg, J. Paul Getty and other billionaires have been heavily criticized. Henry Ford was even called an ignorant man by some scholars.

“When you innovate, you’ve got to be prepared for people telling you that you are nuts.” – Larry Ellison

But billionaires don’t get weighed down by criticism; instead, they get inspired by criticism. Billionaires welcome criticism because they see criticism as a feedback to improve themselves.

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

“Embrace bad news to learn where you need the most improvement.” – Bill Gates

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

9. They have strong self imposed standards

“I am stingy and I’m proud of the reputation.” – Ingvar Kamprad

Get close to a billionaire and you will see a strong willed individual with tough self imposed personal standard. Billionaires don’t compromise their standard; they stick to their self imposed standard no matter what it takes.

“Remain true to yourself and your philosophy.” – Giorgio Armani

“People say I am cheap, and I don’t mind if they do.” – Ingvar Kamprad

10. They believe in themselves

“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins

Strong self belief is an uncommon trait possessed by billionaires. Billionaires display a high level of self confidence. They have little belief in fate, they strongly believe in themselves and their ability to achieve their set goals. Billionaires take charge of their destiny; they don’t leave it to fate.

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember you can achieve.” – Mary Kay Ash

11. They are persistent

“Sheer persistence is the difference between success and failure.” – Donald Trump

Billionaires are tough and unyielding. They believe that when the going gets tough, the tough should get going.”  Billionaires are known for being persistent and tough; they press on even in the face of hardship and failure. Billionaires know that without persistence, nothing can be achieved.

“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

“When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure.” – Mary Kay Ash

12. They are committed

“I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.” – Ingvar Kamprad

Unyielding commitment is another uncommon trait of billionaires. Despite acquiring tremendous wealth, billionaires remain committed to their call. An example of this uncommon display of commitment is that of Warren Buffett and Ingvar Kamprad; these two men have pledged commitment to their companies until death. What a tough commitment.

“It’s my job for Oracle, the number two software company in the world; to become the number one software company in the world. My job is to build better than the competition, sell those products in the marketplace and eventually supplant Microsoft and move from being number two to number one.” – Larry Ellison

13. They learn quickly from mistakes

“Sometimes when you innovate, you make mistakes. It’s best to admit them quickly and get on with improving your other innovations.” – Steve Jobs

Billionaires make mistakes, just like every other human and their mistakes sometimes lead to business failures but billionaires don’t get bugged down by mistakes; they don’t bow their head in defeat. Instead, they quickly acknowledge their business mistakes, correct them, learn from their failures and move on. They fail but they don’t quit. Instead, they get inspired by their failure and use their failure as a stepping stone to success.

“Failure is just a resting place. It is an opportunity to begin again more intelligently.” – Henry Ford

14. They thrive on pressure and uncertainty

“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.” – J. Paul Getty

Billionaires thrive on tension; they thrive on uncertainty. When the billionaires started the entrepreneurial process with nothing, there was no security for their initial investment or guarantee for success. Though they made it through the process; they still thrive on uncertainty despite their wealth.

When Bill Gates dropped out of school to build Microsoft; there was no guarantee of success. There was also no guarantee of success for other drop out billionaires such as Mark Zuckerberg, Michael Dell, Steve Jobs, Richard Branson, Larry Ellison and Li Ka Shing. Yet, they emerged successful.

“Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine and eminently unsatisfying.” – J. Paul Getty

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

15. They use money as a means to keep score

“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

Billionaires are driven by passion; not money. They use the money acquired from their businesses as a landmark; a target and a sign to move on to other business challenges. Billionaires use money as a means to keep score; they are not driven by the quest to make money.

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

“If only your goal is to become rich, you will never achieve it.” – John D. Rockefeller

“Being first is more important to me. I have so much money. Whatever money is, it’s just a method of keeping score now. I mean, I certainly don’t need more money.” – Larry Ellison

16. They are opportunists

“The way to make money is to buy when blood is running in the streets.” – John D. Rockefeller

Billionaires are opportunists. They are always on the look out for people’s problems because they always want to be the solution to people’s problems. Billionaires move in when others are moving out; they see opportunities where others see problems. Billionaires are like the ancient alchemists; who try to turn lead into gold. Billionaires will always attempt to turn problems into value; they believe in creating value out of nothing.

“Buy when everyone else is selling and hold when everyone else is buying. This is not merely a catchy slogan. It is the very essence of successful investments.” – J. Paul Getty

“A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere.” – Orji Uzor Kalu

17. They use debt to their advantage

“If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty

Debt is a double edged sword that can make or break you but billionaires have mastered the art of debt management. In fact, there is no billionaire that is free from debt. However, while others advocate staying away from debt; billionaires use debt as a financial leverage to get richer. While others use debts to acquire flashy liabilities such as cars, houses, etc; billionaires use to to invest and acquire income producing assets. The keyword here is “income producing.” To become rich in life and stay rich, you must be able to know the difference between good debt and bad debt, assets and liabilities, capital gain and cash flow, etc.

“Be careful when you take on debt. If you take on debt personally, make sure it is small. If you take on large debt, make sure someone else is paying for it.” – Rich Dad

“Financial leverage is the advantage the rich have over the poor and middle class.” – Rich Dad

12 Traits of Successful Entrepreneurs

What are the traits of successful entrepreneurs that set them apart from everyone else? What trait do entrepreneurs like Bill Gates, Steve Jobs, Oprah Winfrey, Henry Ford, Mike Adenuga, J. Paul Getty, Lawrence Ellison, Lakshmi Mittal, W. Clement Stone, Richard Branson and Aliko Dangote have that the ordinary entrepreneurs don’t? All these questions are going to be answered in this article.

After understudying the lives of successful entrepreneurs and the drop out billionaires of this world, I have been able to pinpoint 12 traits that makes them successful. Without wasting your time, below are the 12 traits of successful entrepreneurs.

 12 Traits of Successful Entrepreneurs

1.  Successful Entrepreneurs are proactive learners

Entrepreneurship is a life long process and successful entrepreneurs 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 entrepreneurs keep studying and learning.

“To succeed in business, to reach the top, an individual must know all that is possible to know about that business.” – J. Paul Getty

They read industrial journals, books and magazines. They attend seminars and update themselves regularly with the latest industrial trend. Successful 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.

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

2.  They thrive on risk

“In today’s rapidly changing world, the people who are not taking risk are the risk takers.” – Robert Kiyosaki

I have never seen a successful entrepreneur who rose to the pinnacle of success without a measurable amount of risk. Successful entrepreneurs are risk takers; they risk their time, energy and resources with the hope of building a successful business. If they fail, they risk losing everything they’ve ever owned. Risk is the main reason many employees fail to start a business.

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

3.  They work for free

Working for free is one trait of successful entrepreneurs that set them apart from others. It’s hard to find individuals who will be willing to work for free, without pay for many years but successful entrepreneurs do this. They work on their business for many years without pay.

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

Being an entrepreneur, I can attest to this trait because I have built businesses without getting a dime from them for some years. All profits generated are re-invested into the business. Before i get paid as an entrepreneur, i must first make sure that my business is running smoothly, then i pay my employees, pay the government and pay my investors.

To be a successful entrepreneur, you must always bear in mind that you are not building a job for monthly pay. Instead, you are building an asset that can generate residual income for you and add value to humanity in the coming years.

4.  They work longer hours than employees

“I have no complex about wealth. I have worked very hard for my money; producing things people need.” – J. Paul Getty

Successful entrepreneurs are known for their extraordinary resilience and long standing commitment to the course of building a business. Building a business is never easy and it requires time and dedication. Entrepreneurs are known to work for 70 – 80 hours per week while average employees work less than that.

From my own personal experience, i can tell you that this fact is true. I wake up everyday by 5am and go online immediately sending messages to my staff or writing down ideas. By 8am (Mon – Fri), i am in the office and work till 6pm while my staff are dismissed by 4pm. On my way home, i am always online and even while in bed at night, my smartphone and notepad is nearby because ideas may pop into my head at any time. Even at that, i must still spend time with my family. This is my life as an entrepreneur. So if you are going to join the league of successful entrepreneurs, then you definitely need to develop the trait of working longer hours than normal.

“I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.” – Ingvar Kamprad

“My formula for success? Rise early, work late, strike oil.” – J. Paul Getty

5.  Successful entrepreneurs learn quickly from mistakes

“Sometimes when you innovate, you make mistakes. It’s best to admit them quickly and get on with improving your other innovations.” – Steve Jobs

Of all the traits of successful entrepreneurs, this one interests me the most. Many individuals shy away from the game of entrepreneurship because of the fear of making mistakes. They perceive mistakes as bad because mistakes sometimes cost money and pain; so they avoid it like a plague. But successful entrepreneurs see business mistakes as a learning tool; they see it as an opportunity to learn something new.

“Even a mistake may turn out to be the one thing necessary to a worthwhile achievement.” – Henry Ford

Successful entrepreneurs make mistakes in business but they don’t quit. They know mistakes are part of the entrepreneurial process, so they learn quickly from these business mistakes and move on. I strongly believe that if you have not made a mistake in business that cost you money and caused you a few sleepless nights, then you have not really tasted the sour side of entrepreneurship.

“Like success, failure is many things to many people. With positive mental attitude, failure is a learning experience, a rung on the ladder, and a plateau at which to get your thoughts in order to prepare to try again.” – W. Clement Stone

“Excuses cost a dime and that’s why the poor can afford a lot of it.” – Robert Kiyosaki

6.  They have the ability to run on debt

“If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty

As a rule of life, we are all indebted to someone in one way or the other. With respect to building a business, I have never seen a successful entrepreneur that hasn’t been in debt. Everyone owes but successful entrepreneurs know how to use debt to their advantage, they know how to use debt as an instrument and leverage to build a business and get richer.

“Financial leverage is the advantage the rich have over the poor and middle class.” – Rich Dad

“Be careful when you take on debt. If you take on debt personally, make sure it is small. If you take on large debt, make sure someone else is paying for it.” – Rich Dad

 12 Traits of Successful Entrepreneurs

7.  They are accountable and responsible

Successful entrepreneurs are accountable and responsible for the failure or success of their business. They shoulder the responsibility of piloting the business through its trying times. If they succeed, it becomes a plus to them but if they fail, they will be held responsible.

8.  They thrive on criticism

“Dare to risk public Criticism.” – Mary Kay Ash

Another trait successful entrepreneurs share in common is the ability to forge ahead in the face of criticism. Building a business comes with its own challenges; as an entrepreneur, you are bound to be loved and hated by the public. But successful entrepreneurs always devise a means to use every bit of criticism to make themselves better and stronger.

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” – Henry Ford

“Sometimes, I think my most important job as a CEO is to listen for bad news. If you don’t act on it, your people will eventually stop bringing bad news to your attention and that is the beginning of the end.” – Bill Gates

9.  Successful entrepreneurs are ambitious

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

Ambition is one of the traits of successful entrepreneurs. Successful entrepreneurs think big and do things big. They are never satisfied with their current achievement; they believe there is always room for constant improvement and they go for it.

“I like thinking big. If you’re going to be thinking anything, you might as well think big.” – Donald Trump

Mukesh Ambani controls the world’s largest refinery. Lakshmi Mittal built Mittal Steel to become the world’s largest steel producer and Aliko Dangote; the richest man in the world controls the largest cement factory in Africa. Look at Larry Ellison’s ambition to surmount Microsoft. In generality, entrepreneurs are very ambitious personalities.

 ”I think I am very goal oriented. I’d like to win the America’s cup. I’d like Oracle to be the No 1 software company in the world. I still think it is possible to beat Microsoft.” – Larry Ellison

12 Traits of Successful Entrepreneurs

10.  They are opportunist

“War has been good to me from a financial standpoint but I don’t want to make money that way. I don’t want blood money.” – Ted Turner

This is another trait of successful entrepreneurs. Successful entrepreneurs share a common ability to see opportunities, where others see problems. They know that behind every problem lies an opportunity. Successful entrepreneurs are the drivers of creativity and innovation even in the midst of adversity.

“The way to make money is to buy when blood is running in the streets.” – John D. Rockefeller

11. They are great leaders

“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

Successful entrepreneurs are great leaders with a well thought leadership strategy. They possess the ability to bring out the best in their employees. They inspire creativity and foster innovation. They also have the ability to hire and lead smarter individuals

“Good leadership consists of showing average people how to do the work of superior people.” – John D. Rockefeller

“Punishing honest mistakes stifles creativity. I want people moving and shaking the earth and they are going to make mistakes.” – Henry Ross Perot

12.  Successful entrepreneurs are team players

“Individuals don’t win in business; teams do.” – Sam Walton

“Go to the wolf, consider its ways and be wise. A wolf will never hunt alone; it hunts in packs because it knows the power of team work.” – Ajaero Tony Martins

I want to start my own business, I want to be my own boss, I want to do this my own way. These are the words I often hear from people who dream to become entrepreneurs. Successful entrepreneurs know that entrepreneurship and investing are team sports. So they never work alone, they join forces with other entrepreneurs and professional advisers to build a successful business.

In conclusion, these are the 12 traits of successful entrepreneurs which you must possess in order to succeed. Successful entrepreneurs were not born with these traits, they developed them over time. You can also develop these traits, if only you are willing.

75 Impeccable Business Advice from 39 Billionaires

Are you an entrepreneur or a small business owner? Are you seeking business advice that will help you start a business? Do you want to become a billionaire in your lifetime? Do you want to build a successful business and become a successful entrepreneur? Do you want to learn what it takes to make a million dollars and become a millionaire in less than a year? If your answer to any of these questions is yes, then read on.

Today, I will be sharing with you some small business advice from the billionaires. Some of these billionaires are drop out billionaires but they have one thing in common, they all built successful businesses. So if you are ready to learn, then sit back and read on as I share with you 75 impeccable advice from 39 billionaires.

  75 Impeccable Small Business Advice from 39 Billionaires

  • Richard Branson    – Virgin Group

1.            “As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. I have to be good at helping people run the individual businesses, and I have to be willing to step back. The company must be set up so it can continue without me.” – Richard Branson

2.            “To be successful, you have to be out there, you have to hit the ground running, and if you have a good team around you and more than a fair share of luck, you might make something happen. But you certainly can’t guarantee it just by following someone else’s formula.” – Richard Branson

  • Ingvar Kamprad   – IKEA

3.            “Waste of resources is a mortal sin at IKEA.” – Ingvar Kamprad

4.            “Ten minutes are not just one-sixth of your hourly pay; ten minutes is a piece of yourself. Divide yourself into ten units and sacrifice as few of them as possible in meaningless activities. Most things still remain to be done.” – Ingvar Kamprad

  • Carlos Slim Helu   – Telmex Corporation

5.            “When there is a crisis, that’s when some are interested in getting out and that’s when we are interested in getting in.” – Carlos Slim Helu

  • Aliko Dangote    – Dangote Group

6.            “To succeed in business, you must build a brand and never destroy it. One competitive advantage I had when I ventured into manufacturing was my brand “Dangote,” which I diligently built in the course of my trading commodities.” – Aliko Dangote

7.            “Manufacture, don’t just trade. There is money in manufacturing even though it is capital intensive. To achieve a big breakthrough, I had to start manufacturing the same product I was trading on; which is commodities.” – Aliko Dangote

  • Oprah Winfrey – Harpo Studios Production

8.            “Think like a queen. A queen is not afraid to fail. Failure is another stepping stone to greatness.” – Oprah Winfrey

9.            “Follow your instincts, that’s where true wisdom manifest itself.” – Oprah Winfrey

  • Orji Uzor Kalu    – Slok Group

10.          “A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere” – Orji Uzor Kalu

11.          “A good businessman sees where others don’t see. What I see, you may not see. You cannot see because that is the secret of the business… the entire world is a big market waiting for anybody who knows the rules of the game.” – Orji Uzor Kalu

  • John D. Rockefeller    – Standard Oil

12.          “There’s no mystery in business success. If you do each day’s task successfully and stay faithfully within these natural operations of commercial laws which I talk so much about and keep your head clear, you will come out all right.” – John D. Rockefeller

13.          “The ability to deal with people is as purchasable as a commodity as sugar or coffee and I will pay more for that ability than for any other thing under the sun.” – John D. Rockefeller

  • Bill Gates   – Microsoft

14.          “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

15.          You’ve got to give great tools to small teams. Pick good people, use small teams and give them great tools so that they are very productive in terms of what they are doing.” – Bill Gates

  • Larry Ellison – Oracle

16.          “If your cash is about to run out, you have to cut your cash flow. CEOs have to make those decisions and live with them however painful they may be. You have to act and act now; and act in the best interest of the company as a whole, even if it means that some people in the company who are your best friends have to work somewhere else.” – Larry Ellison

17.          “When you innovate, you’ve got to be prepared for people telling you that you are nuts.” – Larry Ellison

  • J. Paul Getty    – Getty Oil

18.          “The man who comes up with a means of doing or producing almost anything better, faster or more economically has his future and his fortune at his finger tips.” – J. Paul Getty

19.          “In times of rapid change, experience could be your worst enemy.” – J. Paul Getty

  • Warren Buffett  – Berkshire Hathaway

20.          “In the business world, the rear view is always clearer than the wind shield.” – Warren Buffett

21.          “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

75 Impeccable Small Business Advice from 39 Billionaires

  • Henry Ford   – Ford Motor Company

22.          “The competitor to be feared is one who never bothers about you at all but goes on making his own business better all the time.” – Henry Ford

23.          “A business absolutely devoted to service will have one worry about profits. They will be embarrassingly large.” – Henry Ford

  • Henry Ross Perot     – EDS

24.          “Business is not just doing deals; business is having great products, doing great engineering and providing tremendous service to customers. Finally, business is a cobweb of human relationship.” – Henry Ross Perot

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

  • Ted Turner   – CNN

26.          “Do something. Either lead, follow or get out of the way.” – Ted Turner

27.          “Managing isn’t that difficult, you just have to score more runs than the other guy.” – Ted Turner

  • Michael Dell – Dell Inc

28.          “Don’t spend so much time trying to choose the perfect opportunity, that you miss the right opportunity.” – Michael Dell

29.          “Recognize that there will be failures, and acknowledge that there will be obstacles. But you will learn from your mistakes and the mistakes of others, for there is very little learning in success.” – Michael Dell

  • Steve Jobs   – Apple Inc

30.          “Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It’s not about money. It’s about the people you have, how you’re led, and how much you get it.” – Steve Jobs

31.          “To turn really interesting ideas and fledging ideas into a company that can continue to innovate for years, it requires a lot of disciplines.” – Steve Jobs

  • Donald Trump   – Trump Organization

32.          “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.” – Donald Trump

33.          “It pays to trust your instinct.” – Donald Trump

  • Jeff Bezos - Amazon

34.          “If you’re not stubborn, you’ll give up on experiments too soon. And if you’re not flexible, you’ll pound your head against the wall and you won’t see a different solution to a problem you’re trying to solve.” – Jeff Bezos

35.          “Things never go smoothly.” – Jeff Bezos

  • Sam Walton   – Wal-Mart

36.          “The secret of successful retailing is to give your customers what they want. And really, if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience.” – Sam Walton

37.          “Appreciate everything your associates do for the business. If people believe in themselves, it’s amazing what they can accomplish.” – Sam Walton

  • J. K. Rowling – Harry Potter Series

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

39.          “Anything is possible if you’ve got enough nerve.” – J. K. Rowling

  • Ray Kroc    – McDonald’s

40.          “If you’re not a risk taker, you should get the hell out of business.” – Ray Kroc

41.          “When you’re green, you’re growing. When you’re ripe, you rot. Are you green and growing or ripe and rotting?” – Ray Kroc

  75 Impeccable Small Business Advice from 39 Billionaires

  • Mark Cuban   – Broadcast.com

42.          “Do your homework and know your business better than anyone. Otherwise, someone who knows more and works harder will kick your ass.” – Mark Cuban

43.          “Make your product easier to buy than your competition, or you will find your customers buying from them, not you.” – Mark Cuban

  • Larry Page   – Google

44.          “But you don’t need a huge company, just a computer and a part-time person. So you don’t need to have a 100-person company to develop that idea. You can do it in your spare time, you can really work on ideas and see if they take off — rather than trying to raise tons of money, millions of dollars for an idea that may or may not work. And once you have the product and people are using it, it’s very easy to raise investment.” – Larry Page

  • John Johnson    – Johnson Publishing

45.          “My management style is based on the art of communication. For communication is an art, not a science. It is an emotion, not a statistic. And the best communicators know instinctively that to communicate effectively you must bypass intellectual centers and tap into the deepest fears, hopes and emotions of your audience.” – John Johnson

46.          “I’m convinced that the only way to get ahead in this world is to live and sell dangerously. You’ve got to live beyond your means. You’ve got to commit yourself to an act or vision that pulls you further than you want to go and forces you to use your hidden strengths.” – John Johnson

  • Li Ka Shing   – Hutchison Whampoa

47.          “Broaden your vision, and maintain stability while advancing forward. That is my philosophy.” – Li Ka Shing

48.          “Businessmen must move with the times…the correlation between knowledge and business as the key to success is closer than ever.” – Li Ka Shing

  • Mukesh Ambani    – Reliance Group

49.          “I think that our fundamental belief is that for us, growth is a way of life and we have to grow at all times.” – Mukesh Ambani

50.          “The organizational architecture is really that a centipede walks on a hundred legs and one or two don’t count. So if I lose one or two legs, the process will go on and the growth will go on.” – Mukesh Ambani

  • Philip Knight   – Nike

51.          “Good campaigns define who you are. We have to get consumers’ attention. We don’t have six months to check with focus groups.” – Philip Knight

52           “Our job is to wake up the consumers. If we become predictable, that’s not waking them up.” – Philip Knight

  • Pierre Omidyar      – E-Bay

53.          “Build a platform – prepare for the unexpected…you’ll know you’re successful when the platform you’ve built serves you in unexpected ways.” – Pierre Omidyar

54.          “Be an enzyme – a catalyst for change. As a slogan, I don’t know if that’s ever going to be right up there with Ich Bin Ein Berliner, or “I Have A Dream,” but there’s a lot of truth to it.” – Pierre Omidyar

  • Ralph Lauren      – Polo

55.          “Your vision is very important. You should know whom you’re selling to, what your marketing and advertising says about you, and whom it’s speaking to. Me personally, I don’t try to please everyone. I understand who I am selling to and I work towards that vision all the time.” – Ralph Lauren

56.          “It’s about broadening your scope through history and living your life. Tune in and pay attention.” – Ralph Lauren

  • Rupert Murdoch    – Fox Broadcasting Corporation

57.          “In motivating people, you’ve got to engage their minds and their hearts. I motivate people, I hope, by example – and perhaps by excitement, by having productive ideas to make others feel involved.” – Rupert Murdoch

58.          “The world is changing very fast. Big will not beat small anymore; it will be the fast beating the slow.” – Rupert Murdoch

  • Craig Newmark      – Craiglist

59.          “Sometimes you gotta be fast so you don’t waste the time of others.” – Craig Newmark

60.          “Follow through with basic values, and remember to provide good customer service.” – Craig Newmark

  • Dave Thomas – Wendy’s

61.          “What do you need to start a business? Three simple things: know your product better than anyone. Know your customer, and have a burning desire to succeed.” – Dave Thomas

62.          “Take care of your business and your business will take care of you.” – Dave Thomas

  75 Impeccable Small Business Advice from 39 Billionaires

  • Gerry Schwartz     – Onex Corporation

63.          “We’ve got customers. We’ve got suppliers. We’ve got employees. We’ve got unions. We’ve got communities. We’ve got all of these things that go into making up whether a business succeeds or fails.” – Gerry Schwartz

64.          “Investments are like trains, and if you miss one, don’t worry because another one will come down the line.” – Gerry Schwartz

  • Walt Disney   - Disney

65.          “You are dead if you aim only for kids. Adults are only kids grown up, anyway.” – Walt Disney

66.          “Tomorrow can be a wonderful age.” – Walt Disney

  • Barry Diller   – Expedia

67.          “The world is changing. Networks without a specific branding strategy will be killed. I envision a world of highly run companies without room for all the overhead the establishment networks carry.” – Barry Diller

  • Giorgio Armani  – Armani

68.          “Remember that, in the end, the customer doesn’t know, or care, if you are small or large as an organization – she or he only focuses on the garment hanging on the rail in the store.” – Giorgio Armani

69.          “In this business you can’t have a destination, an arrival point. Otherwise your competitors will overtake you, or you become complacent.” – Giorgio Armani

  • Craig McCaw      – McCaw Cellular

70.          “Changes occur because there’s a gap between what is and what should be.” – Craig McCaw

71.          “Filling a need that others aren’t addressing has always been a focus of the companies that I have been involved with.” – Craig McCaw

  • Leslie Wexner   – Limited Brands

72.          “We are poised for accelerated future growth and we need the depth and breadth of leadership to achieve it.” – Leslie Wexner

73.          “Express is well into the process of substantial transformation and is providing itself as a significant dual gender, high quality apparel brand. While much work needs to be done, we believe the opportunities for growth across our brand are significant.” – Leslie Wexner

  • Carl Icahn   – Billionaire Investor

74.          “In life and business, there are two cardinal sins. The first is to act without thought and the second is not to act at all.” – Carl Icahn

75.          “You learn in this business; if you want a friend, get a dog.” – Carl Icahn

Characteristics of Successful Entrepreneurs

What are the characteristics of successful entrepreneurs? What is the driving force behind most famous, successful entrepreneurs that propel them in their quest to acquire massive wealth? This seems to be the most bugging question on the mind of young entrepreneurs.

Today, I am going to answer that question by sharing with you the exact qualities or characteristics most successful entrepreneurs possess and how you can develop yours. Join me as I reveal the secret of successful entrepreneurs such as Thomas Edison, Bill Gates, Oprah Winfrey, J. Paul Getty, Larry Ellison, Mukesh Ambani, Lakshmi Mittal and Aliko Dangote; the richest black man in the world.

                15 Characteristics of Successful Entrepreneurs and How to Develop Yours

1.            Passion and Energy

 When you think of the likes of Bill Gates, you tend to feel he is living a life filled with long vacations and excessive free time. But that’s not true; most successful entrepreneurs are known to have a great amount of passion and energy.

“Passion is what drives me forward. Passion is what makes me go to bed at 2am and wake up at 6am.” – Aliko Dangote

In fact, they possess the capacity to work long hours with minimal sleep. What most people don’t realize is that entrepreneurs work longer hours than most employees; shuffling between their family, business duties and meetings. This just reminds me of a quote from Warren Buffet, the world’s richest investor and founder of Berkshire Hathaway.

“Without passion, you don’t have energy. Without energy, you have nothing.” – Warren Buffett

2.            Ability to take Responsibility

“Sometimes when you innovate, you make mistakes. It’s best to admit them quickly and get on with improving your other innovations.” – Steve Jobs

Successful entrepreneurs are known to take responsibility of their actions and decisions even in the face of failure. They don’t blame their employees; instead they take charge, correct their business mistakes and move on.

“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

3.            Long Standing Commitment

“It’s my job for Oracle, the number two software company in the world; to become the number one software company in the world. My job is to build better than the competition, sell those products in the marketplace and eventually supplant Microsoft and move from being number two to number one.” – Larry Ellison

This is a very vital character possessed by any successful entrepreneur you come across. Entrepreneurs are known to be committed not just for the moment but for years. You can imagine Warren Buffet, who is in his 80′s, yet he is still committed to the growth of Berkshire Hathaway, which he founded many years ago.

“I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.” – Ingvar Kamprad

“If I make a commitment to something, I will stick to it no matter what.” – Jenny Craig

4.            Self Belief

“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins

Successful entrepreneurs are known to display a high level of self confidence. They have little belief in fate; they strongly believe in themselves and their ability to achieve their set goals. This is a major character venture capitalist watch out for before financing any business venture.

“Some people intertwine self belief and faith but I stand to say they are not the same. Faith is not self belief. While faith says it can be done, self belief says ‘I can do it.’ While faith says there is possibility, Self belief says ‘I am the possibility.’ Faith without self belief is vain.” – Ajaero Tony Martins

5.            Persistence

“When the going gets tough, the tough gets going.”

This is what persistence stands for; the ability to press on in the face of hardship. Without persistence, nothing can be achieved. When you think of persistence; think of Henry Ford, founder of Ford motor Company and Ray Kroc, founder of McDonalds.’

“Nothing in the world can take the place of persistence. Nothing is more common than unsuccessful men with talent. The world is full with educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

6.            Goal Setting

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

All successful entrepreneurs share the characteristic of being goal oriented. They have the ability to set clear goals for themselves. These goals are high and challenging but realistic and attainable. To them, life without goals set and achieved is life wasted.

“I think I am very goal oriented. I’d like to win the America’s cup. I’d like Oracle to be the No 1 software company in the world. I still think it is possible to beat Microsoft.” – Larry Ellison

7.            Ability to take Risk

“In today’s rapidly changing world, the people who are not taking risk are the risk takers.” – Robert Kiyosaki

As we all know, business is a risk and to undertake it, you have to be daring. Successful entrepreneurs are risk takers; they put down their time, energy and resources to make sure their business stand the test of time.

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

8.            Intelligent Use of Feedback

Feedback is one element that successful entrepreneurs don’t joke with. In fact; it is so important that they surround themselves with smart teams so as to get feedbacks about decisions they took. Most importantly, they make intelligent use of the feedback they receive. Please note that feedback can be in the form of criticism, opinion or advice.

“Sometimes, I think my most important job as a CEO is to listen for bad news. If you don’t act on it, your people will eventually stop bringing bad news to your attention and that is the beginning of the end.” – Bill Gates

9              Strong Self Imposed Standards

“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

Successful entrepreneurs have laid down principles which they don’t compromise for any reason. If you want to be a successful entrepreneur, you must be firm, strict and be a man or woman of principle.

“I am stingy and I’m proud of the reputation.” – Ingvar Kamprad

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

10.          Ability to Work under Pressure and Uncertainty

To be an entrepreneur, you must have the ability to work under pressure and uncertainty. Whenever you are facing tough times in your business; remember Donald Trump, who was in personal debt of a billion dollars and his corporation was in debt of 9 billion dollars yet he kept cool and worked his way out of the debts.

“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.” – J. Paul Getty

11.          Strong Internal Control

Control is essential to the business survival of every successful entrepreneur. To build a successful business, you need firm control of your cash flow and all other business systems. Control is a watch word of entrepreneurs and investors.

“In order to be a player on the fast track, you will need to have a plan on how to gain more and more control. On the fast track, it is control more than money that counts.” – Rich Dad

12.          Intelligent Use of Resources

Sometimes, entrepreneurs are faced with the challenge of building a business with limited capital. When building a small business startup from scratch, there is need for efficient utilization of the limited resources. It’s called building a business on a “Shoe string budget“

“IKEA people do not drive flashy cars or stay at luxury hotels.” – Ingvar Kamprad

13.          Ability to Quickly Learn From Failures

“Punishing honest mistakes stifles creativity. I want people moving and shaking the earth and they are going to make mistakes.” – Henry Ross Perot

Successful entrepreneurs make lot of mistakes that sometimes lead to business failures but they don’t bow their head in defeat. Instead, they quickly acknowledge their business mistakes, correct them, learn from their failures and move on. They fail but they don’t quit. Instead, they get inspired by their failure and use their failure as a stepping stone to success.

“Failure is just a resting place. It is an opportunity to begin again more intelligently.” – Henry Ford

14.          Money as a Means of Keeping Score

“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

This characteristic might sound a little bit funny but it is a common attribute found in most successful entrepreneurs. Entrepreneurs use the money acquired from their business as a landmark, a target and a sign to move on to other business challenges. An entrepreneur who makes his/her first million dollars will be happy with the achievement and will set a goal to make his/her first 100million dollars.

“Build wealth as a by product of your business success; If wealth is your only objective in business, you will probably fail.” – J. Paul Getty

15.          Delayed Gratification

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

I should have listed this first but I decided to save it for the last. Most individuals like the concept of getting rich quickly, invest today and gain a 1000% ROI in a week and stuffs like that. Entrepreneurs know that profit or reward may not be instant and may even take as much as five years before receiving any dividend. Sometimes, they work without pay, hoping for a greater reward in years to come.

“I never attempt to make money on the stock market. I buy on assumption they could close the market the next day and not re-open it for five years.” – Warren Buffett

Having revealed the characteristics of successful entrepreneurs, I will advice you try to develop these characters because without these characters, your success will be limited.

My List of Famous Entrepreneurs that Changed the World

What does it take to become a famous entrepreneur? Well, it’s one thing to be successful; but it is a different ball game to be famous. There are a lot of successful entrepreneurs around the globe but there are only a handful of famous entrepreneurs; I mean entrepreneurs that changed the world with their businesses.

Today, I decided to compile my list of famous entrepreneurs that have impacted my life and thousands of others. I am listing famous entrepreneurs that have revolutionized the way we think and act. If you are ready to be inspired, then below is my list of famous entrepreneurs in no particular order.

My List of Famous Entrepreneurs that Changed the World

1.            John D. Rockefeller: – He started from scratch and built Standard oil to become one of the largest oil and gas distribution companies worldwide. John D. Rockefeller during his time was the richest man in the world and he still remains one of the richest men in history. The foundation he founded “Rockefeller foundation” is one of the largest foundations in terms of funds distributed.

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

2.            Henry Ford: – After experiencing two business failures, Henry Ford went on to become the richest man in the world in his time. But that is not his greatest achievement; Henry Ford will forever be remembered for democratizing the automobile by making it available for the masses.

“Thinking is the hardest work to do, that’s why so few people are engaged in it.” – Henry Ford

3.            Andrew Carnegie: – After experiencing extreme poverty in his early life, Andrew Carnegie went on to build Carnegie Steel; one of the largest steel companies of its time. But what stands Andrew Carnegie out was that he gave away everything he had before his death.

“I began to learn what poverty meant. It was burnt in my heart then that my father had to beg for work and there came the resolve that I would cure that when I got to be a man.” – Andrew Carnegie

4.            Steve Jobs: – When computers were bulky and expensive, with IBM stating clearly that a small computer was impractical; Steve Jobs made a resolve to put a computer on every table and today, his resolve is now a reality. Steve Jobs started Apple from scratch and built it to become one of the world’s most valuable brands. Respected as an innovator and a stickler for quality and perfection; Steve Jobs will forever be remembered for his passion towards technology; he ran Apple successfully until his death.

“Being the richest man in the cemetery doesn’t matter to me… Going to bed at night saying we’ve done something wonderful… that’s what matters to me.” – Steve Jobs

5.            Sir Richard Branson: – What will say of an entrepreneur who owns 400+ companies worldwide? Well, you’ve just met Richard Branson, the founder of Virgin Group. A down-to-earth drop out billionaire and bestselling author; Richard Branson is most respected for his love for adventurous ventures.

“My interest in life comes from setting myself huge, apparently accepting unachievable challenges and trying to rise above them.” – Richard Branson

6.            Donald Trump: – He is one of the biggest real estate developers in the U.S, a billionaire and celebrity host of The Apprentice. Donald Trump is popular for his “Thinking big” philosophy and his magnificent buildings.

“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.” – Donald Trump

7.            Warren Buffett: – Warren Buffett is the world’s richest investor and founder of Berkshire Hathaway. His investment philosophy has revolutionized the way people invest and he plans to give away all his wealth upon his death.

“Risk comes from not knowing what you are doing.” – Warren Buffett

8.            Aliko Dangote: – He is the richest black man in the world and has a goal to be Africa’s greatest industrialist.

9.            Bill Gates: – He is the co-founder of Microsoft and the revolutionary of the software industry. He held the position of the world richest man for 13 consecutive years. He is currently the running the largest foundation in the world “Bill and Melinda Gates foundation.”

“To win big, you sometimes have to take big risks.” – Bill Gates

10.          Mark Zuckerberg: – He changed the way people socialized with “Facebook” and went on to become the youngest billionaire in the world.

    My List of Famous Entrepreneurs that Changed the World

11.          Robert Kiyosaki: – A self help and personal finance expert, Robert is an entrepreneur that has transformed millions of life throughout the world with his teachings; and I am a living testimony to the result of his teachings. Robert is the famous controversial author of the book “Rich Dad Poor Dad” and other books.

“In today’s rapidly changing world, the people who are not taking risk are the risk takers.” – Robert Kiyosaki

12.          Jeff Bezos: – Jeff gave up the security of his plum job and started selling books online from his garage and from that humble beginning; Amazon, the world largest bookstore was born. But Jeff has shunned conventional wisdom and taken Amazon beyond books to becoming the biggest online retail outlet. Little wonder Jeff Bezos is a billionaire.

“If there’s one reason we have done better than of our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience, and that really does matter, I think, in any business. It certainly matters online, where word of mouth is so very, very powerful.” – Jeff Bezos

13.          Larry Page and Sergey Brin: – These two started out as friends, founded Google; the dominant player on the internet and went on to become billionaires. But aside the billions of dollars, Larry and Sergey have changed the way we access information because they’ve made it available to us at the speed of web.

14.          Thomas Edison: – He is responsible for the invention of the light bulb and other electrical appliances. From being labeled dumb by his school teachers to dropping out of school; he founded General Electric, one of the most powerful companies in the world.

“I have friends in overalls whose friendship I would not swap for the favor of the kings of the world.” – Thomas Edison

15.          Michael Dell: – Dropped out of college to pursue his dream to sell assembled computer directly to the customers; Michael has made a name in the computer industry and is worth a billion dollars.

16.          Oprah Winfrey: – She discovered her passion for speaking and created a billion dollar empire out of it. She’s the richest black woman in the world but more important is the way she affected lives around the world through her show “The Oprah Winfrey Show.”

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

17.          Ray Kroc: – Take a look around and you will observe that’s there’s a McDonald’s at every corner.  Well, that’s the vision of Ray Kroc when he bought out the company from the founders. Today, McDonald’s is a billion dollar company. Not bad for a milkshake salesman that recognized opportunity that others could not see.

18.          Mary Kay Ash: – The brand “Mary Kay” is one of the most recognized brands in the cosmetic industry but Mary Kay Ash didn’t just build a cosmetic company; she empowered women, raised multimillionaires and gave a lot of women a purpose to live.

“When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure.” – Mary Kay Ash

19.          J. Paul Getty: – This entrepreneur controlled two hundred companies in his lifetime and was the richest man in his time. He founded Getty Company and the billion dollar foundation “Getty Foundation.”

“Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine and eminently unsatisfying.” – J. Paul Getty

20.          Larry Ellison: – A long standing rival of Bill Gates, Larry Ellison is the founder of Oracle; the second largest software company in the world. He’s famous for his flamboyant lifestyle.

“The most important aspect of my personality as far as determining my success goes; has been my questioning conventional wisdom, doubting experts and questioning authority. While that can be painful in your relationships with your parents and teachers, it’s enormously useful in life.” – Larry Ellison

55 School Drop Out Billionaires and Successful Entrepreneurs

Do you feel dejected or left behind by your peers because you don’t have a college degree? Do you see your supposed illiteracy as a limitation to achieving your dreams? Or are you in the group that thinks education is the ultimate yardstick for success? If any of these questions best describes you, then please read on.

How does it sound to your ears that most of the world’s richest men and women were school drop outs? Well don’t be surprised; it’s the truth.

“I have nothing against education. But at times, education gives people false confidence. It makes people relax, trusting in the power of their certificates rather than in working hard.” – Rasaq Okoya

Today, I will be sharing with you a brief compilation of the entrepreneurial success stories of self made men and women; who took the bull by the horn by building a business, without being held back by the lack of a college degree. These men and women found their entrepreneurial spirit, surmounted business challenges, completed the entrepreneurial process and became successful entrepreneurs.

 “I have been within the four walls of school and I have been on the street. I can confidently tell you that the street is tougher, challenging, daring, exciting and more rewarding. In school; you play alone. But on the street, you play with the big boys.” – Ajaero Tony Martins

Warren Buffett, Mo Ibrahim, Mike Adenuga, Oprah Winfrey, George Soros, John D. Rockefeller, Sam Walton, Jerry Yang and David Filo, Anita Roddick, Sergey Brin and Larry Page, Jeff Bezos, Pierre Omidyar, Martha Stewart, Henry Ross Perot and Aliko Dangote; the richest black man in the world did not make the list because they possessed college degrees. Without wasting much of your time, below is a comprehensive list of some of the world’s richest school drop out billionaires.

“Behind every adversity is an opportunity. If you lament over the adversity, you will miss the opportunity.” – Ajaero Tony Martins

  The World’s Richest School Drop Out Billionaires

1.            Bill Gates: He is the billionaire co-founder of Microsoft Corporation, the world largest software company. Dropped out of Harvard to focus on building Microsoft. According to Forbes magazine, Bill Gates has held the position of the world richest man for thirteen consecutive years and he not showing a sign of letting go that position.

“To win big, you sometimes have to take big risks.” – Bill Gates

“We were young, but we had good advice good ideas and lots of enthusiasm.” – Bill Gates

2.            Thomas 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.

 “Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison

3.            Orji Uzor Kalu: He is one of the richest men on the soil of Africa. This young billionaire was rusticated from college for his participation in a student’s protest. Instead of lamenting over his predicament; he started trading on palm oil and from that humble beginning, he grew his business into a conglomerate “Slok Group.” Though he was later pardoned by the school authorities, he rejected the amnesty offer thereby refusing to return to school.

“A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere.” – Orji Uzor Kalu

4.            Li Ka Shing: Billionaire owner of Hutchinson Whampoa; one of the largest conglomerates in Hong Kong, with operations that span over fifty countries and more than 220,000 staff worldwide. Dropped out of school at the age of 15 and started out by selling watch bands.

“The first year, I didn’t have much capital so I did everything myself. I had to keep my overhead low by learning everything about running a business, from accounting to fixing the gears of my equipment. I really started from scratch.” – Li Ka Shing

5.            Richard Branson: Best known for his adventurous spirit and outrageous business tactics. He dropped out of school at the age of 16 to start his first successful business venture; Student Magazine, bought his own 79-acre Caribbean island when he was just 24 and he was knighted in 1999. He is the billionaire founder of the Virgin brand and its 360 companies. His companies include the famous Virgin Atlantic Airways.

 “I wanted to be an editor or journalist. I wasn’t really interested in becoming an entrepreneur, but I soon found I had to become an entrepreneur in order to keep my magazine going.” – Richard Branson

 Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

6.            Lawrence J. Ellison: Larry Ellison dropped out of college twice and was told by his adoptive father that he would never amount to anything but he went on to become a billionaire by building Oracle, the world’s second largest software company.

 “I have had all the disadvantages required for success.” – Larry Ellison

7.            Michael Dell: He dropped out of college at the age of 19 to start PC’s Limited; later renamed Dell Computers Inc. Dell became the most profitable PC manufacturer in the world making Michael Dell a billionaire.

    “I had to give it a full go and see what happened.” – Michael Dell

8.            Steve Jobs: Billionaire co-founder of Apple Inc and Pixar; dropped out of Reed College to start Apple.

9.            Henry Ford: This automobile billionaire was born in abject poverty. He never saw the four walls of school but he went on to build Ford Motor Company and become one of the richest men that ever lived.

 “Thinking is the hardest work to do, that’s why so few people are engaged in it.” – Henry Ford

10.          Walt Disney: Walt, regarded as the most influential animator because of his creativity with cartoons. He dropped out of high school at 16 and founded Walt Disney; a company which now has an annual revenue of about $30billion.

“If you can dream it, you can do it.” – Walt Disney

  Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

11.          Ray Kroc: Billionaire Ray Kroc never saw the four walls of school and spent most of his life working as a salesman. He bought McDonald’s in 1961 for $2.7m and grew it into a multi billion dollar company.

“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

12.          Debbi Fields: A 20 year old housewife with no education and business experience started Mrs. Fields Chocolate Chippery and became the most successful cookie company owner. She later renamed, franchised, and then sold Mrs. Field’s Cookies.

“You don’t have to be superhuman to do what you believe in.” – Debbi Fields

13.          Cosmos Maduka: Nigerian Elementary school drop out and billionaire founder of the Coscharis Group.

14.          Ingvar Kamprad: Billionaire founder of IKEA. He dropped out of high school at the age of 17 to start IKEA; now the top home furniture retailer in the world, with over 90,000 employees working in its 200-plus stores, and annual revenues in excess of $10 billion.

 “I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.” – Ingvar Kamprad

15.          Carl Lindner: Billionaire investor and founder of United Dairy Farmers. He dropped out of high school at the age of 14 to deliver milk for his family diary.

                Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

16.          Simon Cowell: Famous for his involvement in American Idols, he dropped out of school at age 16 and started his own record label “Fanfare” at the age of 23.

“Good is not enough; you’ve got to be great.” – Simon Cowell

17.          Mary Kay Ash: Founder of Mary Kay Inc and best known as the most outstanding business woman in the 20th century. Mary never saw the four walls of school.

“When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure.” – Mary Kay Ash

18.          Coco Chanel: Fashion magnate and founder of the Coco Chanel brand, she never saw the four walls of school.

19.          Wayne Huizenga: Wayne is the only person in history to build three Fortune 1000 companies practically from scratch: Waste Management Inc, Blockbuster Entertainment and AutoNation. He is the only person to have developed six NYSE-listed companies.

He also owns the Miami Dolphins and is previous owner of the Florida Marlins baseball team and the Panthers hockey team, making him the only person ever to own three pro teams in a single market, two of which won national championships. He dropped out of college to join a friend in a garbage collection business.

20.          Barry Diller: This billionaire media magnate dropped out of college to start Fox Broadcasting Company. He is chairman of Expedia, and was once the CEO of IAC/InterActiveCorp which includes Home Shopping Network and Ticketmaster.

“There’s a world in which reasons are made up because reality is too painful.” – Barry Diller

21.          Andrew Carnegie: Founder of Carnegie Steel Company and one of the richest men that ever lived. Born in abject poverty, Andrew never saw the four walls of school.

“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

 Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

22.          Sir Philip Green: Billionaire retail mogul and owner of the Arcadia brand, he dropped out of school at the age of 16. After four business failures, Philip Green made his first million at the age of 33.

“If you’ve got a natural talent, I think it’s fantastic. If I wasn’t in retail, being a singer or a tennis player would be a better idea.” – Sir Philip Green

23.          Madame C. J. Walker: She was born into the family of ex-slaves and farmers. Despite being widowed at the age of 20 and faced with extreme hardship, she started a cosmetics business and went on to become the first American self made female millionaire.

“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

24.          Mark Zuckerberg: The youngest billionaire in the world, dropped out of Harvard to promote his social networking platform; Facebook. As at 2010, he was 23 years and worth $4billion.

25.          Ted Turner: Billionaire drop out media mogul and founder of CNN; pledged a billion dollars to the United Nation.

“All my life, people have said that I wasn’t going to make it.” – Ted Turner

“Over a three year period, I gave away half of what I had. To be honest, my hands shook as I signed it away. I knew I was taking myself out of the race to be the richest man in the world.” – Ted Turner

26.          Cornelius Vanderbilt: Dropped out of school at the age of 11, began operating his own boat at the age of 16 and became one of the richest men in history.

 “If I had learned education, I would not have had time to learn anything else.” -  Cornelius Vanderbilt

27.          Mayer Amschel Rothschild: was born in a ghetto; started business as a money lender and built the largest private fortune in history. He never saw the four walls of school.

“Give me control over a nation’s money supply and I don’t care who make the laws.” – Mayer Amschel Rothschild

28.          Ty Warner: Billionaire real estate investor, hotel owner, sole owner, CEO, and Chairman of Ty, Inc. Ty Warner is a savvy, yet private business man. Ty, Inc; made $700 million in a single year with the Beanie Babies craze without spending money on advertising. He has since expanded to include Ty Girlz dolls, directly competing with Bratz dolls.

29.          Howard Hughes: Dropped out of California Institute of Technology and Rice University; founded Hughes Aircrafts and Co and went on to become a billionaire.

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

30.          Giorgio Armani: Billionaire founder of the fashion brand; Giorgio Armani S.P.A. Dropped out of medical school at the University of Bologna because he couldn’t stand the sight of blood.

“Remain true to yourself and your philosophy.” – Giorgio Armani

   Successful Entrepreneurs and World’s Richest School Drop Out Billionaires

31.          Asa Candler: Founder of the Billionaire company and world’s most popular brand; Coca Cola. He dropped out of school at the age of 10.

32.          Jenny Craig: With no college degree, this woman started Jenny Craig Inc from scratch and grew it to become one of the largest and most recognized companies in the weight management industry.

“If I make a commitment to something, I will stick to it no matter what.” – Jenny Craig

33.          Rachael Ray: Despite having no formal training in culinary arts, Rachel Ray made a name for herself in the food industry. With numerous shows on the Food Network, a talk show and cookbooks, high-energy Rachael never slowed down. She has also appeared in magazines as well has having her own magazine debut in 2006.

34.          Milton Hershey: With only a fourth grade education, Milton Hershey started his own chocolate company. Hershey’s Milk Chocolate became the first nationally marketed chocolate.

35.          Frank Lloyd Wright: surpassed all odds to become the most influential architect of the twentieth century. Frank Lloyd Wright designed more than 1,100 projects with about half actually being built. He never saw the four walls of high school.

36.          David Geffen: billionaire founder of Geffen Records and co-founder of DreamWorks.

“I never went to business school. I was just bumbling through a lot of my life. I was like the guy behind the curtain in the Wizard of Oz.” – David Geffen

37.          Billy Joe (Red) McCombs: founder of Clear Channel media, real estate investor.

38.          Craig McCaw: billionaire founder of McCaw Cellular.

39.          Dave Thomas: billionaire founder of Wendy’s.

“There’s no one to stop you but yourself.” – Dave Thomas

40.          ay Van Andel: billionaire co-founder of Amway.

41.          Micky Jagtiani: billionaire retailer, Landmark International

42.          John Paul DeJoria: billionaire co-founder of John Paul Mitchell Systems and Patron Spirits tequilla.

43.          David Green: billionaire founder of Hobby Lobby.

44.          Frederick “Freddy” Laker: billionaire airline entrepreneur.

45.          Kirk Kerkorian: billionaire investor, owner of Mandalay Bay and Mirage Resorts, and MGM movie studio.

46.          Leandro Rizzuto: billionaire founder of Conair

47.          Leslie Wexner, billionaire founder of Limited Brands.

48.          Marc Rich: billionaire commodities investor and founder of Marc Rich & Co.

49.          S. Daniel Abraham: billionaire founder of Slim-Fast.

50.          Theodore Waitt: billionaire founder of Gateway Computers.

51.          Y.C. Wang: billionaire founder of Formosa Plastics.

52.          Paul Allen: billionaire co-founder of Microsoft Corporation; dropped out of Washington State University.

53.          Ralph Lauren: Billionaire fashion mogul. Studied business at Baruch College for two years and dropped out.

54.          Dean Kamen: Billionaire Kamen holds more than 80 US patents; famous for the Segwey PT, Auto syringe and IBOT robotic wheelchair; dropped out of Worcester Polytechnic.

55.          Dhirubhai Ambani: Famous founder of Reliance Group and father to two billionaires; Anil and Mukesh Ambani. Started Reliance Industries from scratch and never saw the four walls of school.

How to Become a Successful Business Woman

One of my sources of inspiration is to see women doing exploits in business; and giving their male counterparts a run for the money. Are you an aspiring woman entrepreneur? Or you are just starting a new business? Do you want to learn how to start a business from scratch and grow it successfully? Do you want to become a successful business woman (entrepreneur)? Then I will advice you read on as I share some practical insights to becoming a successful woman or entrepreneur.

  What does it take to become a successful woman entrepreneur?

This is often the question I get from female entrepreneurs and protégés. These female protégés of mine are excited about going through the entrepreneurial process of building a business; they are prepared for the business challenges ahead but they want know if they will have a fair chance in the business world (a field dominated by men).

Well, in answer to the question above; I will say it takes nothing special to become a success entrepreneur. Regardless of age, gender, race, nationality or religion; the principles for success in entrepreneurship remains the same.

In this article, I will be highlighting some practical steps you can take as a woman to build a successful business. The steps I will be sharing with you have been tested and proven by successful women entrepreneurs such as Anita Roddick, Debbi Fields, Jenny Craig, Arianna Huffington, Oprah Winfrey, Coco Chanel, Estee Lauder, Mary Kay Ash, etc. So if becoming a successful woman entrepreneur is your priority; if building a successful business is your goal, then read on.

 How to Become a Successful Business Woman (Entrepreneur)

1.  Believe in yourself

The fundamental key to success in business is self belief and women are naturally known for underestimating their abilities. To succeed in business, you must believe in yourself. This is very important because no one will believe in you and your product or services if you don’t first believe in yourself. No investor will invest with you if you lack self confidence and your employees will not perform at peak capacity because you lack the spirit to inspire them.

In fact, without self belief; no amount of effort on your business will yield positive results. So boost your self belief today; develop the belief that you have something valuable inside of you that the world wants and it will be so.

2.  Have a strong mission

Why do you want to start a business? This question may sound casual but it a silent factor that determines whether you will succeed or fail as an entrepreneur. Take a look at the world’s most successful women entrepreneurs and you will see that they all have a strong reason for going into business and that reason became their business mission.

Once again I ask: what is your reason for starting a business? I know I can’t answer this question for you but what I want you to bear in mind is that building a successful business that will stand the test of time begins with the mission.

3.Prepare your mindset

Success in business is highly dependent on the mindset on which that business was started. To become a success woman entrepreneur, you must have the right mindset. You must never look at yourself as being a weaker sex. You must have the mindset to deal with whatever comes your way. Success will never be handed to you on a platter of gold just because you are a woman. You must stick your neck out for it even if it means putting yourself on the line.

4.Be willing to fail

The principles of success can never be side stepped regardless of your gender. This means that to become a success, you must be willing to fail. Business is a risk but its reward is worth the risk. I have observed that the most successful business women are women who acted without giving a damn if they fail. So if you are going to be among the few women who make things happen; then you must be willing to accept failure as part of the process of success.

5.  Start a business

Yes, this is actually the thin line that separates’ the great women of enterprise from every other women. Most women dream of being the next Oprah Winfrey, Mary Kay or Coco Chanel but only few will ever dare to take the first step. You can never be a successful woman entrepreneur by just day dreaming, you need to go out there and start something. Stop sitting on your ideas; don’t let the lack of resources stop you. Take the leap of faith and start with what you have, you will find the remaining resources you need along the way.

How to Become a Successful Business Woman

6.  Increase your business skills

Some entrepreneurs were born great; others made themselves great through hard work. If a business empire wasn’t handed over to you by your family; then you have to make yours and to achieve that, you will need to develop the required entrepreneurial skills.

What do you do in your spare time? The answer to this question will determine if you will succeed or not. Instead of watching a movie or shopping in your spare time, why don’t you attend a seminar or read a business book. You will never know the situation you will find yourself tomorrow and the knowledge you acquired in your spare time may turn out to be a life saver.

7.  Understand your business to the core

How well do you understand your business? Are you running a business you are passionate about? Or you jumped into an industry for the money? Regardless of the type of business you are engaged in; make sure you understand the ins and outs of it. Never jump into an industry because of the sweet tales you were told. If things do not go as planned, your enthusiasm may fizzle out and once that happens; your business is as good as dead.

8.  Manage your time effectively

One of the major business challenges women entrepreneurs face is time constraint. Business women are usually strapped for time because of the multiple responsibilities they face. Women entrepreneurs must attend to their business needs while still raising a family and taking care of their personal needs. I mean it’s quite challenging. If you are ever going to overcome this challenge and become a successful business woman, then you must master the act of delegation.

9.  Take care of your customers

I believe women take care of their customers more than their male counterparts. Remember that your customers are the reason you are in business. No woman ever became successful in business without the loyalty of her customers. So never look down on your customers.

10.  Stick to the process

Of all the points I made here, starting a business is the most important; sticking to the process is next. Statistics show that 90% of all businesses started fail in their first ten years. The reason is because not all who start a business have the gut to stick to the process. The entrepreneurial process of building a successful business is challenging; you will have to bounce from one problem to another without losing your enthusiasm. If you can do this, then you will end up a successful business woman.

As a final note, I want to drop a hint that building a successful business or becoming a successful business woman is not an overnight venture; it’s a process that requires dedication. If you can persevere and solve business problems as they arise, you will hit the pot of gold.

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.

6 Industrialists Billionaires and the Secret to their Success

Who are the top richest industrialist billionaires in the world? What’s the success secret of the industrialist billionaires and how can I replicate it? How can I become a billionaire industrialist? Well, I will suggest you read on.

In this article, I will be publishing the list of richest industrialist billionaires but my message is not in the list. The main lesson I intend to pass across to you with this article is the success secret of the industrialist billionaires and how you can replicate it. Now who are the top billionaire industrialists?

I want to state categorically that there are tens of billionaire industrialists but this list will focus on those billionaires who cut their teeth as industrialists starting from the scratch. I am not including those who divested into the industry; I am only listing those who became billionaires by being industrialists. If you’ve gotten my point, then below are my top richest industrialist billionaires.

  The Top Richest Industrialist Billionaires in the World

1.            Andrew Carnegie –         Carnegie Steel

Andrew Carnegie was a steel tycoon and one of the richest men of all time. He started Carnegie steel from scratch and grew it into a company that later metamorphosed into the United States Steel Corporation.

2.            Henry Ford –      Ford Motor Company

One of the richest men in the world during his time and he still stands as one of the richest men in history. This industrialist billionaire is the founder of automobile giant; Ford Motors, a company he started from scratch.

3.            Lakshmi Mittal –               Mittal Steel

Lakshmi Mittal is one of the richest men in the world according to Forbes ranking. His company Mittal steel is the largest producer of steel in the world.

4.            Vladmir Lisin –   Novolipetsk Steel

This Russian Steel mogul controls the country’s largest steel plant.

5.            Aliko Dangote –                Dangote Group

Aliko Dangote is the not only the richest black man in the world but also the richest black person in the world as at 2011. This industrialist billionaire cut his teeth as a commodity manufacturer and he has stuck to that line ever since.

6.            George Eastman –           Kodak

   The Secret to the Success of the Richest Industrialist Billionaires in the World

1.            They started small

The industrialists listed above are rich by all standards; in fact, they are billionaires. But they were not born that way and they didn’t start out as billionaires; they started small. Andrew Carnegie came from a poverty stricken family, so also did Henry Ford but these men were humble enough to start small and risked failure. That’s why they are billionaire industrialists. This should ring a bell in your head that success doesn’t happen overnight, it’s a process that requires hard work.

2.            They concentrated

The reason I used these industrialist billionaires as case studies was because they made their mark as industrialists. They started small as industrialists, became billionaire industrialists and still remained true to their course. These industrialist billionaires did not diversify their effort; they concentrated.

Andrew Carnegie, Lakshmi Mittal and Vladmir Lisin concentrated on steel manufacturing; Henry Ford concentrated on automobile production and Aliko Dangote concentrated on commodity manufacturing.

Once again I emphasize the point that these men did not diversify; they concentrated. So if you want to become a billionaire, if you want to become a successful entrepreneur; then you must concentrate your resources, time and your effort.

3.            They paid their workers well

One key to becoming a successful industrialist is to take care of your workers. Having enthusiastic workers is a key to a smooth production process and these billionaires knew that. Production is a tedious task, so be sure to take care of your workers.

4.            Efficiency was their watchword

Another key secret to the success of the billionaire industrialists was their constant effort to improve efficiency and productivity. Henry Ford was the first individual to mass produce cars at a faster rate; Aliko Dangote built the largest cement factory with the latest technology just to increase efficiency and Lakshmi Mittal has increased his steel output by constantly improving on his steel manufacturing process. Efficiency is the keyword to successfully running not just a manufacturing company; but a successful business.

5.            They had a mission

Of all the secrets to the success of the industrialist billionaires listed here; the mission is the most important. Why did you become an entrepreneur? Why do you want to start a business? Why do you want to build a business? Why do you want to become a billionaire industrialist?

If you take a closer observation at the entrepreneurial life of the industrialist billionaires, you will notice that they all had a strong business mission and that mission was the driving force behind their success. If you want to find success as an industrialist or a business owner; then you must have a strong business mission.

Aliko Dangote became the richest black person in the world because he was on a mission to provide the basic need of over 150million Nigerians. Henry Ford became a famous entrepreneur because he had a mission to democratize the automobile and make it available to the masses.

Do you want to join this list of billionaire industrialists? If yes, then you must fashion out a strong business mission for your company and stick with it no matter what.

As a final note, these are the business success secrets of the richest industrialist billionaires in the world. Just as said above, their success can be replicated. All you have to do is simply put these success formulas to work and I will see you at the top.

How to Handle Business Failure and still Succeed

Have you experienced a business failure in the past? Are you currently experiencing business challenges? Are you on the verge of business failure? Are you afraid of starting a business because of the fear of failure? Do you fear failure? Do you see failure a sign of defeat? If your answer to any of these questions is yes; then please read on because I am about revealing the secret to handling business failures and making a success out of it.

                "The business empires built by successful entrepreneurs were erected on the foundation of past failures." – Ajaero Tony Martins

I once wrote an article “50 Failure Quotes from 50 Successful People” and I backed it up by sharing with you stories of successful entrepreneurs that failed before hitting success. I have also shared my personal experience about how I failed and went to become successful. You can read about it below.

                How to Start a Business from Scratch: My Entrepreneurial Journey so far

Please before I go on, I want to state categorically that I will not in anyway be highlighting the causes of business failures or how to avoid them. I have dealt with such topics extensively in the past. You can check them out below.

                10 Causes of Business Failure You Must Watch Out For

                12 Strong Reasons Why Small Businesses Fail

                Recession Strategies: How your Small Business can Survive a Recession

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

                10 Reasons Why You Will Never Build a Successful Business

In this article, I will strictly be sharing with you practical tips for bouncing back to success from failure. I will be telling how to handle business failures and make a success out of it. I have failed countless times and the steps explained below are exactly how I handle my failures. Though this article is strictly written for entrepreneurs and business owners; anybody can make use of its lessons. If you are prepared to learn, please read on.

Now how do you handle business failure? How do you recover from a business failure? Well, you are going to find out below.

                How to Handle Business Failure and still Succeed

 

1.            Be prepared to fail

In the article “How to Start a Business from Scratch: My Entrepreneurial Journey so far,” I shared four hard core business lessons I have learn; mind you that these business lessons were self learned (lessons from personal experience). My lesson one in that article was:

                “The fastest way to build a successful business from scratch is to fail fast.” – Ajaero Tony Martins

And this lesson is the truth in its entire. The first and the best way to handle business failure is to prepare for it in advance. I know this sounds crazy but it’s probably the best strategy for handling business failure. Nobody wants to fail and that’s why majority end up becoming failures.

Everyday I come across budding entrepreneurs who are excited about their new fool proof business ideas. But what these entrepreneurs fail to understand is that business is a game of probability; where you have a 50 – 50 chance of either failing or succeeding.

And with business failure come emotional pain on the part of the entrepreneur. I have seen and heard of entrepreneurs committing suicide just because their business crumbled. When my mom lost her lucrative business to fire, I knew the amount of courage it took her to bear the loss and start all over again. At the site of the incident, a business man who couldn’t stand the sight of watching his sweat go up in flames attempted to jump into the fire. If not for the intervention of on-lookers, that man would have been history.

That’s exactly why you need to be prepared in advance for the D-day. Nobody prays for failure but if it comes; you just have to face it. That’s what makes you an experienced entrepreneur. Now how do you prepare in advance for business failure?

You prepare in advance to handle business failure by changing your perception towards failure. Just as my mentor “Robert Kiyosaki” says “No one is doomed to bad luck.” Sometimes, unplanned shit happens but I will rather prepare myself for it ahead of time than to carry the illusion that things will never go wrong.

                “Things never go smoothly.” – Jeff Bezos

You can also prepare for business failure by giving your business your best shot, while expecting the worst. Expecting the worst may lead you to setting up a landing haven; which in this case will be a contingency plan. A pilot learning how to fly an airplane will never be allowed to practice without a parachute; so must you also never start a business without an escape plan.

A contingency plan is the reason why successful entrepreneurs start new businesses despite their failures; it’s the reason why I am still in the game of entrepreneurship. I have had successes and failures in business but that doesn’t still erase the odds. I might be back to square one tomorrow; but I am not afraid to lose it all because I have prepared my mindset to handle even the worst situation.

 

2.            Don’t take failure personal

The message above is straight and precise. If you’ve been hit by a storm in business; don’t take it personal, it’s just life. Don’t go banging your head against the wall because you won’t solve anything that way. Don’t go criticizing yourself; don’t regret ever starting a business.

The fact that you failed in business doesn’t mean you are doomed to bad luck. It’s not your destiny to be a failure; failure and success is all about choice. Instead of talking down on yourself, cheer yourself up; you’ve just proved that you have the nerve to handle risk.

                Starting a Business: It Takes More than Just an Idea

It takes guts to start a business and fail; and you’ve just built one and lost it. Most people will remain average because they lack such guts; they may die poor because they lack the courage to risk failure. Most people will never know what it feels like to lose a million dollar business and that’s why they will never build a billion dollar business.

3.            Take responsibility

                “Making mistakes is the privilege of the active. It is always the mediocre people who are negative, who spend their time proving that they are not wrong.” – Ingvar Kamprad

Taking responsibility for your actions is an essential ingredient to handling business failure and making a success out of it. Don’t go looking for whom to blame. If you were bad at cash flow management; admit it. If your business crumbled based on the decision you took or the business move you made; don’t deny it. Admit it and move on. Making mistakes is what makes us human.

                "Only those who are asleep make no mistakes." – Ingvar Kamprad

4.            Let your emotions flow

When you’ve lost a business; just let your emotions flow. Cry if you must and don’t feel bad about crying but I will prefer you do it in your closet. Don’t even think about hurting yourself because your predicament is just a phase that will come to pass. Allow your emotions flow because that moment of pain and tears will turn out to be one of your memorable and most inspiring moments in life.

5.            Analyze the situation

Analyze the situation and circumstances surrounding your business failure. Where did you go wrong? What did you do wrong? What caused the failure? What would you have done to prevent the failure that you failed to do? These are the questions you should be answering at this point in time. If you don’t find definite answers to the questions; then you are bound to repeat the feat again.

You can also pick the pieces or leftovers of your failed business. They may prove useful in your next business venture.

6.            Take note of the lessons

This is probably the most important element to converting your business failure into success. You will be a fool to lose a business and not learn from the experience. In fact, this experience may turn out to be a priceless asset in the long run. Yes, you’ve fail and there’s nothing you can do about it. One of the most important questions I always ask someone who has just lost a business, contract or an idea is this:

                What did you learn from your failure?

If you can’t answer this question confidently; then more business failures await you. The lesson from your business failure is very important because it will form the foundation on which you will build a successful business. If you want to know how to turn your business failure into a learning opportunity; then read the article below.

                How to Learn From Your Mistakes in Business

                "Behind every adversity is an opportunity. If you lament over the adversity, you will miss the opportunity." – Ajaero Tony Martins

7.            Resolve to succeed

                "Get mocked at for as much as you can, fail as much as you can but don't quit. Let every mockery, every failure, be a source of inspiration for you to reach for greatness and that greatness will silence your critics." – Ajaero Tony Martins

You can either use your business failure as leverage to greater heights or as a spade to digging your grave. The choice is yours. Instead of being cowed by your failures; use your business failure as a stern resolve to succeed. Each time I fail; I resolute to strive harder and smarter to cover for my losses and failures. Failures don’t weigh me down; instead, failure inspires me to success. You should strive to use your failures positively.

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

8.            Start again

                "Starting a business is like building a ship and embarking on a voyage, armed with a plan, a map and a team. You have to sail with uncertainty against storms and unpredictable weather. If your ship sinks, it's either you quit or you swim back to shore, build a new ship and sail again." – Ajaero Tony Martins

You have failed, cried your eyes out and learned some lessons. But the question now is: will you have the guts to start a business again? The word of God made me understand that the glory is not in the falling; but by rising each time we fall.

Just as I said earlier; “I am not afraid of failing, I am only afraid to quit the entrepreneurial process having come this far.” In the business world, you are not yet defeated until you quit the game. As long as you are still in the game; even if you are hanging by a finger, you can always start again.

                "You can always quit, so why quit now." – Rich Dad

As a final note, this is my eight step guide to handling business failures. These are the exact steps I take whenever I fail to breakthrough in business. Before I draw the curtain close, I want you to know that failing in business is a painful experience; but it’s worth it if you go about it positively and make a success out of it.