Money and fame comes with success in the business sector which is why many aim for it. While many are striving, only few were able to reach their goal. This is because these few but ever so famous and rich tycoons have abided by the same commandments of money business which helped them reach their current state.
Forbes compiled the top 400 richest of the rich in the United States which includes 15 “irresistible rich” Americans pinpointed by the magazine’s website which includes Microsoft founder Bill Gates, renowned host Oprah Winfrey, filmmaker Steven Spielberg, and investor Warren Buffet.
According to W. Randall Jones’ book “The Richest Man in Town: The Twelve Commandments of Wealth,” these tycoons have reached where they are now have been following the same rules and policies in getting rich, namely:
1. Seek money for money’s sake and ye shall not find.
While money provides the figures for each entrepreneur’s scorecard, it does not solely measure the amount of success he or she has achieved. More importantly, aspiring business tycoons should remember that the goal is to make substantial value in providing better products and services instead of just focusing on the cash that equates to it.
2. Find your perfect pitch.
A “pitch” is a business jargon which describes an entrepreneurs’ way of convincing the market to buy his or her product. According to Jones’ book, these business tycoons have become successful by capitalizing on their strengths and by understanding where their passions lie, thereby taking all these into consideration while making their “pitch.”
3. BYOB: Be your own boss.
Majority of self-made business tycoons have succeeded in their industry by creating an original product or providing unique services. This, says Jones, should be understood well by aspiring tycoons especially since it gives them the capacity to become the benevolent dictator who “shares his wealth but keeps ownership.”
4. Get addicted to ambition.
This is one of the few addictions that have positive effect on one’s life and should be pursued even by those who do not wish to venture in the world of business because this addiction comes with persistence, self-confidence and the will to work hard.
5. Wake up early — be early.
If you’re thinking about the cliché “The early bird gets the worm,” you should think again. Being early, according to Jones’ book, means starting young in your business endeavors. This is because statistics show that younger businessmen have lower risks and encounter lesser problems. It also implies that you should always be early in all of your schedules and appointments. However, the book still believes that it’s never too late to achieve your dreams citing Colonel Sanders of Kentucky Fried Chicken as the perfect example.
6. Don’t set goals — execute or get executed.
While doing feasibility studies and setting initial goals is fine, overdoing it can lead to paralysis of the business. Yes, you may conduct discussions and even debates about how business should be done but make sure that it does not go overboard, leaving your business venture hanging. Always make a decision not only on how to start your business but on any issue afterwards to keep your venture afloat.