A summary of things you should know about The Self-Made Billionaire Effect according to John Sviokla: Introduction In this episode John Sviokla gives an in-depth summary of his and MitchRead More
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]]>In this episode John Sviokla gives an in-depth summary of his and Mitch Cohens’ book, The Self-Made Billionaire Effect, where they discuss how extreme producers create massive value.
In their book Sviokla and Cohen provide extensive research drawn from interviews with some of the most successful billionaires in order to debunk the perceptions people have of high producing entrepreneurs. The goal of the book is to teach you habits designed to improve your business value, how to start thinking like a billionaire, and how to be highly valuable to your employees.
This book is perfect for entrepreneurs that set very high expectations when it comes to business goals and are looking for solid ways to provide massive value when it comes to building a business.
This book is the first ever systematic study of a self-made billionaire.
It’s really a book you can jump in and jump out of. The introduction of the book tells you that these people are not who you think they are. 80% of them made their money in highly competitive contested markets.
The one thing I would say is to follow your curiosity about an opportunity area and don’t separate thinking from doing. If you want to pursue it, pursue it yourself.
The core notion that the book talks about is underneath every billion dollar opportunity what you will see is what we call a Producer or a Producer Performer Pair.
A Producer is the kind of person that knows how to design a business from scratch and to get all those design variables and land them well. That’s true whether these people are doing it in pizza, coffee, or high-tech.
As I mentioned before these people are not who you think, they come from all walks of life. Then we look at what makes these billionaires distinctive and what we found were these Five Habits of Mind.
The Five Habits of Mind are inventive execution, epithetic imagination, a relative view of risk, patient urgency, and producer performer pairing. For example epithetic imagination is a combination of understanding where markets going as well as a rational understanding of what the economic opportunity might be.
Throughout the book I give you a deep definition of each of the Five Habits of Mind and pair them with stories to help the reader get a visual of how each one works.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 03:51
“The universe is a fight between habit and novelty and novelty is winning.” Terence McKenna
I am a partner in the PwC consulting division and I hit up our Thought Leadership. I have been there for about four years and about a dozen years before that I was a consultant at a company called Diamond. And for a dozen years before that I was a professor at Harvard Business School in the area of technology strategy in innovation.
The inspiration was I was talking to my co-author Mitch Cohen and PwC is really about helping our clients create value and I told Mitch that we should study the people who created the most value on the planet. We took the self-made billionaires and made a book of all the things people could learn from their success.
Life Unlocked by Srinivasan S. Pillay
Buy The Self-Made Billionaire Effect by John Sviokla and Mitch Cohen on Amazon today
Visit PWC.com to learn more about John and his book
Follow John Sviokla on Linkedin and Twitter
Download the full transcript here (coming soon)
Listen on iTunes, Stitcher , and SoundCloud
Related books:
The New Rich by David Moore
Three Feet From Gold by Greg Reid
Strategy Rules by David Yoffie and Michael Cusumano
Relevant advice and tips:
7 Successful Attributes of a Billionaire
What did you like and not like about this episode? Fill out this one minute survey here.
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]]>A Quick Look at 5 of the Latest Books for Entrepreneurs The Entrepreneurs Library presents some of the latest books for entrepreneurs in April 2015. These books are brand newRead More
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]]>The Entrepreneurs Library presents some of the latest books for entrepreneurs in April 2015. These books are brand new to the market and the authors are in line to give a thorough deep dive of their books. Stay tuned this month for the release of the interviews with these great books and their authors. Below is an overview of what Amazon has to say about these books:
The Self-Made Billionaire Effect breaks down the five critical habits of mind of massive value-creators, so you can learn how to identify, encourage, and retain such individuals—and maybe even become one yourself.
Drawing on extensive research and interviews, the authors concluded that many of the myths perpetuated about billionaires are simply not true. These billionaires aren’t necessarily smarter, harder working, or luckier than their peers.
The key difference is what the authors call the “Producer” mind-set, in contrast with the far more pervasive “Performer” mind-set. Performers strive to excel in well-defined areas, and are important. But Producers are critical to any company looking to create massive value because they redefine what’s possible, rather than simply meeting preexisting goals and standards.
“The first billion is the hardest. I know from experience. If you are interested in giving it a shot, The Self-made Billionaire Effect is a good starting point. Great research. Great stories. Great opportunity.”
– T. Boone Pickens, Chairman, BP Capital Management
“A fabulous profile of value creation that all organizations need to ponder as they build talent for the future.”
– Thomas Colligan, former Vice Dean and Director, Aresty Institute of Executive Education, The Wharton School
Learn more about John Sviokla | Buy The Self-Made Billionaire Effect on Amazon
In Mindsharing, Lior Zoref offers proven guidelines for applying what he calls “mind sharing” in new ways. For instance, he shows how a mother’s Facebook update saved the life of a four-year-old boy, and how a manager used LinkedIn to create a year’s worth of market research in less than a day.
Whether we need to make better financial choices, find the love of our life, or transform our career, crowdsourcing is the key to making quicker, wiser, more objective decisions. Zoref reveals how crowdsourcing has the ability to supercharge our thinking and upgrade every aspect of our lives.
Lior Zoref knows the research and makes useful reference to it throughout the book, but he doesn’t pretend to be offering a survey of group psychology. Instead, he gets down to practical matters, like how readers can harness the power of the crowd by frequently updating their LinkedIn profiles and knowing what not to ask their Facebook friends.
Learn more about Lior Zoref | Buy Mindsharing on Amazon
Consumers are now expecting that big businesses with ever-increasing profits give back to the community from which those profits arise. At the same time, shareholders are demanding their share and are happy to see dividends soar. Getting this right is a balancing act, and Doing Good by Doing Good helps companies delineate a plan of action for getting it done.
Doing Good by Doing Good shows companies how to improve the bottom line by implementing an engaging, authentic, and business-enhancing program that helps staff and business thrive. The case studies in this book draw out the companies that are focusing on creating shared value in meeting the challenges of society whilst at the same time bringing strong economic returns.
You will learn how to:
“Baines makes a highly practical contribution to how the best businesses create value by having a more positive social impact. And considering his track record of actually doing so, who better to listen to.”
– Peter Sheahan, author, founder and CEO of ChangeLabs
“Peter Baines has correctly written that innovation and a sense of the entrepreneurial spirit are the key to the future, irrespective of industry or academic discipline. This is advice offered at an important time in our collective search for best practices and the truth.”
– William E. Strickland Jr, President and CEO, Manchester Bidwell Corporation
Learn more about Peter Baines | Buy Doing Good by Doing Good on Amazon
Die Empty is a tool for people who aren’t willing to put off their most important work for another day. Todd Henry explains the forces that keep us in stagnation, and introduces a process for instilling consistent practices into your life that will keep you on a true and steady course.
Todd Henry shows how to cultivate the mindset and the methods you need to sustain your enthusiasm, push through mental barriers, and unleash your best work each day. Sure to bring a newfound clarity and a sense of urgency to how you approach your work every day, Die Empty will help you reach for and achieve the following:
“One of the best books of the year. Passionate, practical and powerful, Todd will help you do more and do it better, starting right now.”
– Seth Godin, author of The Icarus Deception
“A simple, masterful manual for leading a fulfilled life. I couldn’t put it down. Bravo, Todd Henry!”
– David Allen, author of the international bestseller Getting Things Done
Learn more about Todd Henry | Buy Die Empty on Amazon
Succession or Failure is a handbook that will assist you in navigating your small to mid-sized business through key employee identification, succession planning, and ultimately value extraction. By using this handbook as a guide to running your business, you will have an appreciation for the need to run your business with an exit strategy in mind. In the end, there are only two options: Succession or Failure.
The question is, why does this happen to so many small to mid-sized business owners? The reason is simply pilot error, just like in flying. Through a series of distractions, adverse conditions, or fuel starvation, we find ourselves with red indicators.
Succession or Failure is designed to address mission-critical questions and provide workable solutions that you can begin to implement in your quest for your ultimate retirement. Managing your lifecycle in business is the same as flying an aircraft.
Learn more about Kristofor Behn | Buy Succession or Failure on Amazon
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