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Saturday, March 1st 2008

11:43 AM

Billionaire Secrets...

We enjoy observing and gathering information about what works in business.  Information is all about, and it takes a keen eye and a wilingness to focus in order to capture and share ideas.  Just one new idea, adapted to a situation, and then correctly applied can be priceless to a business.

If the information comes with little to no cost, all the better. There is a television show on CNBC called "The Big Idea" which features entrepreneurs and how they launched their businesses. This week they featured a billionaire, and the secrets they use to acquire wealth. The billionaire featured was...

Donald Trump, Jr. He had several points to share, including how he was expected to work through his father's businesses from the bottom up to gain an understanding of how they worked. We came away with three main points to success in his interview:

1.  Do what you love and be passionate about your mission. Passion breeds entusiasm, and enthusiasm is contagious.  It is easier to work long hours with something you love in order to achieve the dream.  Most entrepreneurs only need between four to five hours of sleep per day, including Donald Trump, Jr.

2.  Develop your own products, and build your brand around those products.  It is always easier to be entusiastic about a product you have a personal vested interest in seeing succeed. Be aware that there are always new markets and directions in which to expand the brand.

3.  Pay attention for opportunity, and be prepared to seize an opportunity when it is discovered.  This is true whether one is trying to launch their own business, or climb the corporate ladder.  There will always be tasks and areas that other people either will not dare to tread, or do not want to tread.  By being the person willing to go to these places creates opportunity for the individual within any organization. Then being successful at a daring task makes one a superstar.

There they are.  The not so secret "secrets".  How many of us already knew about them?  How many of us already implement these secrets?  The difference is in the head count of us who obsess ourselves and our businesses with these secrets.  That is truly what it takes, obsession.  And as always, we welcome your comments.


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