The year of 2009 has witnessed unprecedented gains in wealth for a few of the richest individual investors and entrepreneurs, but the question is what exactly caused them to earn these huge sums of money and how can they continue to expand them?
As most of the people on this list have said that making a fortune requires a certain amount of luck, but also the ability to have a special mindset and set of skills. Below are the solutions regarding how you can be like these brilliant entrepreneurs as we guide us through the most effective entrepreneurial tips.
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Bill Gates – $88.8 billion
Gates is among the most well-known names in the world of business. As the creator of Microsoft Gates, he’s increased his fortune over the past several decades, and is consistently on in the rankings of richest entrepreneurs.
His advice to both old and new entrepreneurs alike is to look at every situation from every perspective, and then make the decision and stay with the decision. He stresses the negative consequences of constantly re-examining choices; he claims it can end in “interfering not only with your execution but also with your motivation to make a decision.” So, making one choice, then sticking to it and following through until the situation drastically changes is crucial to avoid doubting yourself and affecting your decision-making.
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Jeff Bezos – $84.3 billion
In the course of a few weeks during the course of this year Jeff Bezos was named the world’s most successful businessman. The Amazon founder is currently holding his place at the second spot and is also one of the newest men on the list at 53 (obviously with the exception of Zuckerberg). He established Amazon in the space of just two decades ago and the company is one of the world’s most profitable and valuable businesses in the world.
Bezos his most important tip to anyone beginning a new venture is to become an entrepreneur who is a “missionary” (someone who is passionate about and develops their clients and products or service) rather than being a merchant (someone who is focused on selling their business). In the end Bezos believes that the person who is a missionary surpasses the mercenary when it comes to developing a profitable company. In short ensure that you are devoted to your clients and the business you run and are ready to help them grow.
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Warren Buffet – $80.5 billion
Warren Buffet is arguably one of the world’s largest public investors However, what is less well-known is that in particular during his younger years , he set out to build several businesses, ranging such as vending machines, to couches, before acquiring Berkshire Hathaway. Buffet still owns a lot of these businesses today!
The advice he gives entrepreneurs is to be yourself and have fun. He is well-known for his quote “at 85, I tap and dance to work every day”. The message he is trying to convey is to enjoy what you do and love it. He says, “there’s nothing like it”. This is among the most important aspects to succeeding in any industry.
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Amancio Ortega – $78.5 billion
Famous because he was one of the the founder and the owner of Zara Zara, the Spanish fashion and retail tycoon is recognized as one of the most secretive billionaires. The advice he gives to entrepreneurs looking to expand their business will be “that speed is everything”.
The ability to move quicker than your competition and speed up business processes is the hallmark of Ortega’s accomplishment and the one he advises you to adopt.
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Mark Zuckerberg – $71.7 billion
Facebook’s Facebook creator is among the tiniest entrepreneur on this list and is likely to be one of the best since it took less than 13 years to accumulate one of the world’s largest fortunes through the creation and growth of Facebook the world’s most popular social media platform.
The advice he gives founders who are starting their own business is to attempt to solve the problem, and then be enthusiastic about solving the problem. Don’t attempt to build an organization, which comes from solving an issue.
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Carlos Slim – $67.9 billion
A Mexican telecoms tycoon has the distinction of being the most wealthy person on the planet in Central America. He also has significant businesses in real estate, transportation manufacturing, and more. He has arguably one of the largest portfolios of business of all the entrepreneurs listed on this list.
His most crucial advice for new business owners is to ensure there are “simple organisational structures” in place. The simplest hierarchies allow your company to react quickly and profit from opportunities that other companies are unable to.
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Larry Ellison – $59.1 billion
Ellison is regarded as one of the top software salesmen, having made his fortune through his role as the co-founder of the tech giant Oracle.
A single of his well-known quotes is “great achievers are driven, not so much by the pursuit of success but by the fear of failure”. In other words, that you must have the right mindset to be able to achieve the level of success that the world’s top entrepreneurs are able to achieve, and you will not achieve this by simply aiming for success, but rather by letting fear of failing push you beyond your limit.
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David Koch ($49.2 billion) & Charles Koch ($49.1 billion)
They are the Koch Brothers are founders of Koch Industries which is a huge chemical, manufacturing and commodities company that began as an individual business, but was significantly increased by the Koch brothers. They are better known throughout America. United States as critical political donors and influencers when the time is time to elect the next president.
Unfortunately Koch brothers are notoriously private. Koch Brothers are notoriously secretive and the best information we can gather is that, once you have started a business and you have it, diversify into different sectors while building on your existing strengths.
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Michael Bloomberg – $47.1 billion
Michael Bloomberg is the most well-known media person on this list. He was even speculated to be one of the presidential candidates for the last election (he has also been elected mayor of New York). Bloomberg the company he founded is renowned worldwide to be one of the major suppliers of hardware and software to traders and stock exchanges across the globe. It is also among the most important media platforms in the world of business.
The advice he offers to small-business owners is one that each businessperson mentioned on this page has mentioned at some pointin time, and that is, to work hard. According to him “if there’s only one key to success, its hard work”. This is the most basic, but probably the most important piece of advicebecause determination and hard work is the main thing you’ll need to help build your company to achieve success. Consider for a moment on what you value as an entrepreneur, and then start making your billion pound million dollar empire.
