A Preview of The Self-Made Billionaire Effect with John Sviokla
A summary of things you should know about The Self-Made Billionaire Effect according to John Sviokla:
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.
The Book’s Unique Quality (2:00)
This book is the first ever systematic study of a self-made billionaire.
The Best Way To Engage (2:47)
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 Reader’s Takeaway (10:11)
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.
A Deep Dive Into The Book (3:51)
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
Notable Quotes From The Book (10:55)
“The universe is a fight between habit and novelty and novelty is winning.” Terence McKenna
The Credibility/Inspiration Of The Author (0:27)
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.
Other Books Recommended By The Author (11:44)
Life Unlocked by Srinivasan S. Pillay
More Information About This Book and The Author
More Information About This Episode
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