20 Habits for Success! 1) Invest in Yourself This is a very simple concept, but something you would think someone who has made it would stop doing. Not at all for these two. I saw them both spend a significant amount of time dedicating their resources to self-development (whether it be a new language, exercise, social media classes, etc.). The moment you stop investing in yourself is the moment you have written off future dividends in life. 2) Be Curious... About Everything What the average person sees as mundane or overly complicated is not viewed the same way with a billionaire mindset. I once had a 30 minute conversation with Enver about the height of the curbs in Washington DC versus Istanbul, Turkey. Billionaires are incredibly curious; what the rest of the world thinks is a problem and complains about -- thats what these people go and work on. 3) Surround Yourself With Better People I hope this is why they kept me around. Seriously, I never knew my bosses to keep anyone less-than-stellar in their inner circle. There were many times I thought to myself, Damn, they have dream-teams built around them. Jim Rohn had it right, You are the average of the 5 people you spend the most time with. 4) Never Eat Alone The last time I had dinner with Enver, as well as the last time I ate dinner with Oprah, there were easily 15 people at our tables, respectively. Coincidence? While most of us derive our key information from blogs or the newspaper, power players get their information from the source (other power players), directly. However, just because you cant call up the Obamas and break bread with them doesnt mean eating with others in your circle doesnt carry value. In one of my favorite reads of the last few years called Never Eat Alone, author Keith Ferrazzi breaks down how you can identify information brokers to dine with you. Ive seen first hand how enormous the benefits are of this strategy. 5) Take Responsibility for Your Losses I was working for Oprah during the time she was taking heat from the media about poor network ratings. I was also working for Enver during the closing of one of his prized divisions. What I witnessed them both do in response was powerful. Opposed to covering the losses up with fancy PR tactics, both stepped to the stage and said in essence I own it and Im going to fix it and dropped the mic. Guess what? They sure did fix things (Its widely noted Oprahs network is realizing ratings gold and Envers assets have probably doubled since the division closing). 6) Understand The Power Of Leverage This is something that was quite a shock to me. From afar, a billionaire appears to be someone who is a master at everything. But, in truth, theyre specialists in one or a few areas and average or subpar at everything else. So, how do they get so much done? Leverage! They do what they do best and get others to do the rest. Heres a great article on leverage. Keep in mind I see this done with wealthy people and their money all of the time -- they use OPM (other peoples money) for most or all of their projects. 7) Take No Days Off (Completely) I recall going on vacation with Enver several times, yachting up and down the southwestern coast of Turkey (also known as the blue voyage). Sounds ballerific, right? No doubt we had a great time, but mixed in with all that swimming and backgammon was discussion of business, discussion of strategy, planning and plotting. The best way I can describe this habit is thinking about your business or your idea like your literal baby. No matter your distance, you dont stop thinking of him/her (and after just having a second son, I can attest to this). 8) Focus On Experiences vs. Material Possessions When you have money, your toys are big. However, the vast majority of money I saw spent on their leisure was on actual experiences versus the typical car, jewelry, and clothes were familiar with seeing in music videos and gossip blogs. I recall one time at dinner with Oprah, I spotted a table of about 20 girls off to the side. I later found out Ms. Winfrey was treating some of her graduating girls from her school in South Africa to dinner in NYC. Experiences create memories, and memories are priceless. 9) Take Enormous Risks This is another one of those successful habits every entrepreneur can attest to. A matter of fact, Entreprenuer created a great infographic outlining commonalities of the worlds billionaires and one of the most prominent was this characteristic: billionaires are not adverse to risk. What intrigues me even more about Enver and Oprah was that even at their high financial status and success level, they still possessed a willingness to risk their most precious asset (their name and legacy) on new and bolder projects. If youre not taking risks, youre not making moves! 10) Dont Go At It Alone Nothing great in life is achieved alone. Especially in business, success isnt a solo act. This character trait is akin to surrounding yourself with better people. It takes teamwork to make the dream work. 11.) Recognize the Value of Simple Ideas Oprah, Enver, and most of the world’s billionaires got rich not from a complex idea, but from a very simple one. Sure, there are several who do something technical – like create complex hedge funds. But most billionaires figure out how to take something we all like to do, simplify it, and bring more value to the bottom line. So, next time someone asks you to invest in a lemonade stand, don’t dismiss it so easily :-). 12.) Be Patiently Impatient Billionaires realize nothing happens overnight. As a matter of fact, it takes most billionaires decades to become successful. While patience is used for their long-term goals, I’ve witnessed deadlines for day-to-day, short-term goals articulated by my former bosses as “due yesterday.” Being nimble and having the ability to deliver faster than your competitors is what often makes the difference between success and failure. . Think about Oprah often beating a competing TV network to a coveted interview, or Enver launching a school in a country before anyone else. Don’t play with time. 13.) Be Gritty Ask any 10 people to describe Oprah and Enver, and I bet words like “tenacious” and “relentless” top the lists. Billionaires don’t let obstacles or pitfalls keep them from achieving their goals. Just because you fail 100 times, doesn’t mean you can’t succeed on the 101st try . The key is not just having the stomach for failure, but having the strength to face what feels like an endless amount of resistance… and still move forward. 14.) Develop Great Oratory Skills I’ve never seen better live speakers than my previous bosses. Coincidence? I think not. If you can’t articulate your ideas and your vision (in a compelling way) you can’t galvanize the support required to make things happen. This concept was underscored in a recent interview I did with one of the word’s leading public speaking experts, Marshawn Evans. She stated, “the more effectively you speak, the higher your chances of career success.” 15.) Grow Thick, Armor-Plated Skin The higher your heights, the greater number of detractors you will have AND the sharper their attacks will be. This is a basic truth for everyone, but literally watching thousands of people hurl insults at my bosses (without impact) made me realize they possessed an extraordinary layer of emotional resilience. I recall when we filmed the opening scene of Lovetown U.S.A. (and Oprah arrives on a Naval vessel), while thousands cheered, hundreds complained (and ridiculed) her for wasting tax dollars by using a military vehicle. Developing a “shield” is critical . First Lady Michelle Obama said it best: “never let what somebody else says distract you from your goals. And so, when I hear about negative and false attacks, I really don’t invest any energy in them, because I know who I am.” 16.) Connect with People Outside Your Community Your ability to be of influence within your community is directly related to your ability to make connections outside of your community. The technical phrase for this is called “bridging structural holes,” and is eloquently written about in this research by professor Ronald Burt. Both Oprah and Enver possess tremendous bridging capital. They spend a disproportionate amount of their time gathering information from communities of people outside of their core (different age groups, different social class, different ethnicity, different education levels, different careers, etc) and then they share that information within their community. This is where their ability to influence and have power comes from. 17.) Over-Communicate Your Message It’s not just about speaking loudly, it’s about speaking often. I learned this from my favorite professor at the illustrious McDonough School of Business (shout out: Hoya Saxas!). He floated this concept in class one day and it stuck with me. Don’t make people guess or assume, make sure your community understands your message, precisely. Given the abundance of content produced in today’s world, this concept has taken on even more relevance (Note: more content is published in 48-hours now than was published from the beginning of time until 2003. Amazing, right?!). Watch Oprah or Enver closely when they speak for a short or extended period of time. Their format is always the same. They begin by: telling you what they’re going to tell you, then they tell you, then they summarize by telling you what you just heard. We live in a noisy landscape and repetition, repetition, repetition is necessary. 18.) Learn to Laugh at Yourself Most of us know from experience that having a sense of humor about things can make life a little easier. And, there’s science to back that up: being able to laugh at yourself may be a sign of an optimistic personality and it might even improve your mood. Humor has also been identified as a possible factor in the development of personal resilience. “If you can laugh at yourself, you can forgive yourself,” says Rev. Susan Sparks. “And if you can forgive yourself, you can forgive others.” You can’t go more than 2 minutes in a conversation with either Oprah or Enver without them smiling and belting out a laugh (typically at their expense). 19.) Be Great at One Thing, First By focusing on one passion or strength, you can actually be more innovative. The deeper understanding you gain by doing one thing opens up creative new ideas. Ironically, limitations can lead to liberation. As I mentioned in Part 1, billionaires like Oprah and Enver aren’t necessarily great at many things, but they’re damn good at (at least) one. 20.) Know a Higher Power Developing a relationship with a Higher Power will provide you with guidance for making decisions and solving problems. When you connect with a higher power, you can draw upon greater wisdom to help you resolve your problems. I find it fascinating in my analysis of Oprah and Enver, that while they practice different religions, they possess an unwavering faith. I believe that faith is why they strive to have a positive impact on people and society, value integrity and hold high ethical standards for themselves and their organizations
Posted on: Fri, 02 Jan 2015 05:54:08 +0000
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