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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]]>7 Morning Routines of Very Wealthy People No matter if you’re an insomniac or an early-to-bed, early-riser type, we all have to start our day in a way that createsRead More
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]]>No matter if you’re an insomniac or an early-to-bed, early-riser type, we all have to start our day in a way that creates a sense of accomplishment. Morning routines are not one size fits all, we have to choose the one that works best for us. But we also desire wealth and wish to learn more from those who have been able to obtain it.
There are a wide range of options on how to start your day and the following are some that are favored by the wealthiest of people when they need a kick start. Let’s take a quick look at a few routines of very wealthy people:
The CEO of American Express, Kenneth Chenault, says that he makes a list at the start of every day, writing down the three things that he most wishes to accomplish in the next 24 hours. By having a list in front of you as a jumping off point, you too can make the necessary changes in your life.
It’s easy to have a vague idea in your head of what you wish to achieve, but when you make a list, it’s much easier to visualize the accomplishment. The sense of accomplishment that you feel inside as you cross items off of your daily to do list is just an added bonus.
Many successful, wealthy people report that they start off their morning with brisk physical activity. This helps to wake up the brain so that they are constantly able to fire on all cylinders. Starting the day with exercise provides a person with more energy and keeps them from feeling tired throughout the day.
Vogue’s editor in chief, Anna Wintour, does not consider her day to have started until she has played an hour long tennis match. Wintour wakes up before 6 AM to do so. People who start their day with physical activity tend to be much more enthusiastic and highly motivated.
While some may be surprised to see one of their most prized early morning routines end up on this list, there are many wealthy, successful people who also feel the need to check Twitter and Instagram as soon as they roll out of bed in the morning. This may be a time drain for some, but for others, this practice helps them to keep their finger on the pulse.
The editor in chief of Lucky magazine states that she checks Twitter every morning and avoids watching TV as much as possible. This strategy may not work for everyone except for those who are able to self-motivate.
Craig Newmark, best known for founding Craigslist, says that he begins each day with a complete and total focus on customer service. Newmark is proof that no matter how far you rise, it is still extremely important to put the customer first. He even goes so far as to say that he thinks of himself as one of Craigslist’s customer service representatives.
In order to gain wealth and maintain it, sharpening your focus so that you can properly address any and all customer concerns is incredibly important. Otherwise, you could fall into the same habits that have derailed other CEOs.
Popular self-help guru Tony Robbins urges his acolytes to take 15 minutes at the start of each day and spend it visualizing positive occurrences in their life, even those that have not actually taken place yet. He also tells his clients that they must use the time to envision the things in their life that they are grateful for.
By doing so, a person is able to achieve greater self-certainty and increase their overall confidence. Many are skeptical of this practice, believing it to be too New Age and not grounded in reality. Those who are able to overcome their skepticism report far greater success in their day to day living.
Mark Twain has a quote about how everyone should start their day by consuming a live frog. That way, nothing else that takes place could possibly seem any worse than that. Obviously, this is meant to be a metaphor about tackling your most difficult tasks first. Taken literally, this piece of advice could lead to a great deal of trouble.
Getting your toughest tasks out the way early clears the way so that you can enjoy the rest of your day without having to worry about taking care of it later. Whether it’s getting up early to get your workout out of the way or dealing with difficult correspondence, there is no shortage of tasks that should be handled early. Otherwise, they have the ability to hang over you and take away from your overall level of enthusiasm.
There is a wide range of ways to consume the news nowadays and the majority of wealthy, successful people have a way of remaining on top of all the latest information. A person does not maintain success by allowing themselves to fall out of the loop. Some may prefer to grab the local newspaper, others might leaf through the Wall Street Journal.
However you choose to keep yourself informed about the world around you, starting the morning with a healthy dose of information is how many of the world’s best and brightest get their day going. You never know when that valuable piece of information will come along and change your entire perspective.
Make Money Live Wealthy by Austin Netzley
The New Rich by David Moore
Three Feet From Gold by Greg Reid
Unstoppable by Pete Wilkinson
The Miracle Morning by Hal Elrod
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]]>A summary of things you should know about The New Rich according to David Moore Introduction In this episode David Moore take a deep dive into his book The NewRead More
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]]>In this episode David Moore take a deep dive into his book The New Rich which features real interviews with entrepreneurs such as Mike Michalowicz, John Lee Dumas, Corbett Barr, and Dane Maxwell. This book is perfect for the entrepreneur who is looking for some great tips, advice, and mechanics that come with finding your passion and turning into profitable income.
The main thing that makes it different is the interviews that I included in the book. Before I wrote the book I spent time interviewing other entrepreneurs that had an idea and build a platform and audience based on what they’re excited about. Each of the 12 entrepreneurs that I interviewed shares their greatest tips, challenges that they had to overcome and the mindset that they adopted to be successful.
It’s up to the reader and doesn’t necessarily matter what order you read the book in. I suggest that if you have a particular problem you need answers to, you can skip straight to that part of the book. But reading start to finish is also good too.
The main thing that I would recommend is to not wait for the perfect time to start. The first thing is figuring out what you’re passionate about and move towards that final goal.
The book is split up in 10 different chapters. The first section is about finding what exactly you’re passionate about, what you love to do and what skills and strengths that you already have. I think that when it comes to starting a business a lot of people make the mistake of jumping into something that they aren’t necessarily interested in because it is an opportunity to make money. And I can’t recommend strongly enough not to take that approach, you need to pick something that you are passionate about and care enough to make a difference with.
Section two is looking at how you can turn your passion into an income. It’s looking at what the demands are in market, what your skills are and what people are willing to pay for it. Using this approach to figure out, out of all your interests and passions, what it is that you should be focusing on.
Section three is all about taking action and coming up with an original idea that you want to take action with. I think people themselves often think that they need to come up with an idea that the world has never seen before and that stops a lot of people from never making a start. You can take that approach but if it’s your very first business I’d recommend doing something where you know that there are other people out there already having success with it. That way you won’t have to create your own demand for the product and explain what it is, you can just tap into an existing market.
Section four has to do with the mindset. Most entrepreneurs agree that having the right mindset is key to being able to have success with their business. It’s all about creating the right empowering beliefs in order to make sure that you’re able to take consistent action that’s necessary in order to get results that you want.
Section five is about building your platform; the mechanics of choosing the right name, buying a domain, sorting out the hosting, getting a website up and how you go about attracted an audience to that website.
Section six is ways you can create an income, how you can create assets and products that you can then sell to your audience.
Section seven is the secret to success, the mindset that you need to adopt to be successful online and how to deal with failure. There are tips in there that come from Dane Maxwell, the founder of The Foundation.
Section eight is all about how you actually start to make it happen and how you take action.
Section nine is looking more into the mindset behind what makes people happy and things that you can do to make sure that you’re enjoying the process of running your business.
“’Someday’ is a disease that will take your dream to the grave with you.” –Tim Ferris
I am an online business coach, lifestyle entrepreneur and run a blog online called The New Rich where we interview other successful entrepreneurs.
I have years of experience of being in jobs that you just don’t really enjoy and aren’t fulfilling. I’ve always had a burning desire to go off and start my own business but it took me awhile to overcome the barriers, mindset and challenges that it entails. I finally made the leap of self-employment and realized that there must be other people out there that are trapped in jobs that they don’t enjoy.
Awaken the Giant Within by Tony Robbins
Buy The New Rich by David Moore on Amazon today
Visit TheNewRich.com to contact David and learn more about his book
Follow David Moore on Twitter and Facebook
Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books: Lifestyle Entrepreneur: Live Your Dreams, Ignite Your Passions and Run Your Business From Anywhere in The World by Jesse Krieger | Three Feet from Gold by Greg Reid | Make Money Live Wealthy by Austin Netzley
Relevant advice and tips: 7 Unique Styles Of Entrepreneurs | The Secret History of Entrepreneurs 20 Years Ago To Now
What did you like and not like about this episode? Fill out this one minute survey here.
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]]>A summary of things you should know about Lifestyle Entrepreneur according to Jesse Krieger Introduction In this episode Wade meets with Jesse Krieger, author of Lifestyle Entrepreneur. If you areRead More
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]]>In this episode Wade meets with Jesse Krieger, author of Lifestyle Entrepreneur. If you are an entrepreneur that that believes in the motto “passion before profit” or are at a battle between the style of entrepreneur that describes you then “Lifestyle Entrepreneur” is for you.
I’ve founded or co-founded over 5 companies, helped dozens of Entrepreneurs start businesses and so I bring a firsthand perspective from being “in the trenches” at any given time working on the starting and the launch or growth of 2 or 3 business. So I’d like to think that I know what I’m talking about and I’m speaking from experience. It’s a collection of firsthand account stories of being in different lifestyle context mixed with how-tos and frame works that readers can use to put into practice in their own life and businesses.
The one thing I would want a reader to take away from this book is that you can go from not believing that this is possible for your life to firmly, fully believing that you have agency to create the lifestyle that you want to build a business based on your interests and passions. If there is just one thing that you can take away is that this is possible, it’s been done, that this is both my life and many of my closest friends’ lifestyles. So opening a door into a new way of business and proving it’s possible.
I take you right into being in the middle of a book tour in Malaysia and literally hiking in the jungles of Borneo one day and then speaking on stages in front of 100 people the next day. It starts with a sweeping overview of how I see the world changing today, specifically with the ability to hire and manage teams from anywhere in the world and the ability to work anywhere in the world with a laptop and internet connection. By the time you are a third of the way through the book, the reader should have a lot more clarity on not only what’s possible but what’s the ideal case for them. It allows specificity for the reading without telling people what they should do, rather giving the opportunity for the reading to discover and empowering them to think bigger within the context of what’s possible in this day and age. As we get closer to the end I give very specific recommendations on tools, software to use and ways to set up a workflow. By the time you get to the end of the book my goals is that the reading has an expanded view of what’s possible in life and business and now has the tools, resources, next steps and action plans to make it real.
“When you know what you want, it becomes clear what must be done, as you do eventually you come to be and that is your identity.” – Jesse Krieger
My inspiration is the result of not knowing how to answer the question ‘what do you do’ because it changed frequently. It started as a shorter piece but as I was writing and got additional inspiration, I decided to expand it out and do a full book that’s a mix of how to and stories/strategies for success as well as some featured lifestyle entrepreneurs that also embody this ethos; to be able to travel freely and frequently, to live a life of passion and purpose.
Atlas Shrugged by Ayn Rand
Buy Lifestyle Entrepreneur by Jesse Krieger on Amazon today
Visit LifestyleEntrepreneurBlog.com to download the first 3 chapters of the book
Forward your receipt to Jesse’s email here and get hours of video interviews with incredible lifestyle entrepreneurs
Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books: The Suitcase Entrepreneur by Natalie Sisson | The New Rich by David Moore | The Business Idea Factory by Andrii Sedniev
Relevant advice and tips: 5 Personal Qualities That Make Up a Lifestyle Entrepreneur
What did you like and not like about this episode? Fill out this one minute survey here.
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