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Success Advice

7 Common Mistakes That Billionaires Make

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Billionaire Money

If you are currently working your way to be successful in your own line of business or in your field of profession, one of the most important things you ought to have is a good mentor. Naturally, small and starting entrepreneurs and professionals as well as aspiring millionaires and billionaires all look up to the existing top-grossers in the world today and try to follow their examples. What many fail to realize is that these amazing billionaires at present have also had their share of mistakes in the past that have helped them become what they are today.

What are some of the most common mistakes that most billionaires make? These are also the same blunders that have probably caused them setbacks in their careers or businesses and have even caused great failure for some. The only thing that sets them apart from those who have not reached their level of success is that they chose not to give up and to instead use these slipups to help them achieve more.

 

Billionaire Mistakes

 

Mistake #1: Lack of Research

Sometimes when you are suddenly hit with a striking idea that you deem as a stroke of genius, you jump right into it without doing the proper research involved. Naturally, any idea for a product or service can turn into a great business and can also end up in the opposite direction. No matter how excited you may be to get right into something, you need to research all the details involved first, to study your target market, and do a feasibility review. This is especially important when you are planning to shell out a huge amount of money for a business idea that can turn out as a flop.

Henry Ford Color Automotive PictureHenry Ford, for instance, is a well-known billionaire today in the field of automobiles. He has always been recognized as a man of efficiency, being able to make ordinary things extraordinary. However, Henry Ford has also had his share of gaffes.

One very big and expensive mistake Henry committed was to start up a company town called Fordlandia to serve as his own rubber production plant. Because he was not an expert in putting up a town especially in Brazil, he failed. He made the mistake of not doing sufficient research first before indulging in this project. He also did not hire excellent specialists who could have given him the needed advice and guidance for going about this town.

 

Mistake #2: Focusing on the Wrong Opportunities

It is certainly difficult to tell the right opportunities from the wrong ones, especially if you lack experience. Being a risk-taker is an important characteristic in the business world. However, you ought to weight the risks you take. You also need to know when to quit. Always remember that when you focus too much on one or two things that do not seem to be picking up even after you have given so much, you might not realize that you are actually missing out on other better opportunities for you. Thus, you still have to keep your eyes and ears open for other breaks or prospects while you are trying to work out your existing ones.

Warren Buffett BillionaireOne example is the story of Warren Buffett, one of the most popular billionaires of today. Back in the 1960s, he chose to buy a New England textile mill and ran it for twenty years even though it was not improving at all.

Warren Buffett did not immediately see that the textile business then was truly hopeless. Eventually, when Buffett accepted his mistake and decided to move on, he shut down this company and went on to the insurance arena and to other industries that brought him great fortunes.

 

 

Mistake #3: Miscommunication

It is very important to communicate well with the people you work with and those who work under you. Keep in mind that the people who work for you are your greatest assets. You cannot be as successful if you do not have leverage on these individuals. Thus, it is vital to build a good relationship with them.

Steve Jobs Apple BillionaireSteve Jobs, for example, was known to fail in open lines of communication. Because he always assumed that people ought to instantly understand and grasp his ideas and suggestions, he ended up losing highly talented people who could have made work much easier in the future. When you lose people, you will end up spending more from hiring and training efforts.

Even billionaires cannot just buy people’s loyalties and emotions. Relationships are of essence too.

 

Mistake #4: Cost-Cutting

When you really need to cut on your costs to save your business or to make a greater profit, you have to carefully weigh the pros and cons first. You also need to check if the methods you will be utilizing are worthwhile and will not aggravate many. The successful billionaires today have had their share of cost-cutting decisions.

Ralp Lauren SuitIn the case of Ralph Lauren, he made the huge mistake of having Chinese laborers make the 2012 US Olympics team uniforms under his brand name. Since this event is rooted in a nationalistic aspect, it is imperative that the uniforms bear the sign “Made in the USA”. This wrong decision certainly caused a big stir in the nation, which has provoked tons of people to boycott Ralph Lauren.

Indeed it has caused a stain on the name of this famous clothing company.

 

Mistake #5: Missed Chances

When you are engaged in a certain industry, you have to continuously study the market and its needs. Even if your current products and services are doing well, you still have to be on the lookout for related opportunities in this field. What’s more, it is best to keep up-to-date with the latest innovations.

Bill Gates Microsoft BillionaireWho would have thought that Bill Gates, one of the well-known billionaires at present, would make the mistake of overlooking the great potential of the search engine?

When the Internet was just beginning, Microsoft chose to concentrate on developing a browser or navigator instead of coming up with its own search engine. Hence, Google beat Microsoft to this turf, quickly tripling its revenue shortly after it came out.

Bill Gates admitted that it was a lost billion-dollar opportunity.

 

Mistake #6: Failure to Explore Options

When you see an opportunity that you want to grab, it is crucial for you to check out all your options. Along with the proper research, you have to explore the different ways that you can make this opportunity work out for you. If you fail at one, you have to try another one before someone beats you to it. Would-be billionaires should learn how to weigh opportunities.

Larry Page Google BillionaireOne great story in this regard is that of Larry Page of Google. He already had the idea about the amazing promise of social networking especially when Friendster had become popular. When Google offered to buy Friendster in 2003, Larry Page did not act on developing their own.

Before Larry realized it, it was already too late because Facebook had captured the market and no one else stood a chance against this booming social networking site.

 

Mistake #7: Negative Publicity

In every business and in any industry, publicity is very important. Your public image and that of your brands count. Of course you need to carefully build a positive name that will make people feel good all the time instead of reminding them of negative things. This is why PR is a very important aspect in business too and even in a career that exposes you to the public. Hence, you should learn to be more charismatic and to know how to use the media to your advantage.

Mark Zuckerberg Facebook BillionaireSince young billionaire Mark Zuckerberg has always expressed himself without much regard for what others think, he has made a lot of mistakes already with his statements and actions. Mark Zuckerberg’s cocky, arrogant, and blunt personality has been known to give his company ‘Facebook’ a bad image as he is a representative of the website. As a public figure, he is still in the learning process. Not taking crap from people is good in business, but the thin line between cocky and confident should be something you are very clear on when you are constantly in the public eye.

These are the seven common mistakes that a lot of billionaires have made in the past and have learned from. As an aspiring billionaire, you ought to consider these mistakes and do your best to avoid them and to use them for your own good.

 

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 60 million lives in the last 4 and a half years.

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10 Comments

10 Comments

  1. Nirajan

    Jul 26, 2014 at 11:42 pm

    Brilliant article, thanks

  2. Bubba

    Feb 14, 2014 at 10:30 pm

    Of course the title got your attention to read it. The point is that even the most successful business people screw up and learn from their mistakes to the tune of billions.

  3. DT

    Nov 1, 2013 at 11:35 pm

    Yep

  4. John Spence

    Feb 23, 2013 at 3:50 pm

    The article could have been entitled, “Seven mistakes to avoid in business”. It has little to do with any of the billionaires. …and the examples weren’t that good.

  5. Bernard

    Feb 23, 2013 at 3:34 pm

    I love your advises.keep on with the good work

    Bernard

  6. Jesse LaPrade

    Dec 10, 2012 at 2:48 pm

    This is very good advise for all entrepreneurs. Everyone can learn from this great advise.

    Keep on keeping on!

    Jesse

  7. Sarah

    Dec 4, 2012 at 2:16 pm

    Great article: I should be so lucky to have some of these mistakes and still make it as a billionaire!

  8. Deji R Yusuf

    Dec 3, 2012 at 4:54 pm

    Thanks Bro! Love this article and learnt a lot from it!

  9. darlington

    Nov 30, 2012 at 12:18 pm

    Thanks Joel, this was a brilliant article

    • Zaid

      Dec 10, 2012 at 9:10 am

      This is probably the most pretentious, ironically titled article I’ve read this semester…They’re billionaires you ASS! Mentioning an obviously unforeseeable mistake in hind site and pretending it’s a “common practice” that billionaires do…ugh…

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Success Advice

The Super Power Of Charisma – How You Can Adopt It For Yourself

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There’s this dude at the office. He’s fucking unstoppable.

His shit don’t stink and everything he touches turns to gold. At least that’s what I used to think.

Really, in reality, he’s just charismatic.

That’s how he got the cool job, the hot wifey and why everyone wants to be friends with him including me.

What does he do? Let’s delve a little deeper and discuss the eight things that lead to being charismatic:

 

1. Being confident baby!

This dude at work has swag. He backs himself even if he has no freaking idea what’s going to go down homey. In a business context, people that are confident are proven to be more trustworthy.

We trust confident people because it’s infectious. We want to work and be around confident people because it feels good. When something feels good, we do it, and do it lots!

My buddy at work walks into the room and people shake his hand because his presence changes the game. He also does these few things:

– He dresses confidently
– He pops his chest out just a fraction (not like the guy on the Bonds Singlet packet)
– He looks people in the eye

Out of these three, looking people in the eye is the hardest to do. To look into someone’s eye is the most vulnerable state you can put yourself in.

“The difference is that when you’re vulnerable, you connect with people better”

It also shows that you’ve got guts and allows you to enter their world. Okay, that’s wacky stuff and I may sound like I’ve read one too many “Power Of the Universe” type books. Take it or leave it chief.

 

2. Passion surrounds them. It pours out of their eyeballs!

Even the words I write demonstrate this. You can tell from everything I’m saying right now that passion pours out of me. I freaking love what I do and it shows even though you can’t see me or hear my voice. Okay, that’s a fraction creepy…enough about me.

This almighty bloke at work is charismatic because his values and beliefs are based on his passion. Passion is like a magnet according to science. When we see passion, it makes us start acting with more passion. You’re drawn to charisma in the same way because you want more of it.

There’s no point pretending you don’t like to be passionate because we all do. Sometimes, we just get lost and lose our passion for life or our career. That’s okay! None of us are perfect souls who don’t lose our way once in a while. I’m fucking lost more than I’m on track half the time.

Bottom-line: charismatic people are surrounded by passion. I don’t care if it’s collecting matchsticks or building sand castles – find something to get excited about and then show your passion for it.

 

3. They’re not vain: selfies are not their highest priority.

This charismatic chappy at work doesn’t spend half his days taking selfies of himself and then posting it on social media.

He doesn’t take photos of his food and then post it on social – he just eats it. He’d rather jump off a bridge than be a pretentious snob who’s insecure and has an inflated ego to compensate.

“The number one sign of a pretentious person vs a charismatic person is that they take credit for things they didn’t do”

Or they make things sound ten times bigger than they actually are in reality. Don’t fall for this trap young Indiana Jones. You’re better than that!

 

4. Expressing yourself through great stories

Storytelling is one of the many traits a charismatic person has. If you listen closely to their stories, you’ll notice they use strong phrases like “I know X to be true” instead of phrases like “I think,” or “I hope” which sounds weak.

Through stories, you can be: funny, vulnerable and share embarrassing moments. That’s what charismatic people do and they draw everyone in through their stories. As a side note, their stories don’t go on forever and they know how to get to the point.

Become a charismatic poet through stories about your experiences. Educate and inspire people around you and you’ll be acting charismatic by default.

 

5. Make other people feel comfortable around you

Not everyone is a hero and is comfortable being charismatic and confident. You can demonstrate charisma by learning to make others feel relaxed around you. Make other people the center of attention and let them feel special. There’s a subtle difference between charisma and hogging the conversation with your own bombastic, overpowering, unnecessary and selfish talk.

Back down; you’re not that big of a deal. Once you do that, you’ll have entered the universe of charisma.

 

6. A clear purpose and vision. In other words, they know why.

Part of what makes up the DNA of a charismatic person is their purpose or vision for their life. Quite simply, they know what they’re on this planet to do. They have a goal, it’s measurable, and they’ll stop at nothing until they achieve it.

To be in this state requires a certain sort of self-confidence that charismatic people have in spades. People seem to rally around a person who knows their purpose.

You can’t do anything and be motivated unless you know why. Without a why you’ll never build up enough momentum to reach any sort of peak performance. Mediocrity happens to us when we give up too easily. When we start a new pursuit for 4 weeks and then give up.

Map the seven seas of why you exist. Do a heap of self-reflection if you need to, to find this vision and bring it to the surface.

 

7. They look approachable

Most people look like they’re zombies when you walk past them and they almost look like they’re going to explode if you dare talk to them. That’s not charisma pal!

That unapproachable zombie look is called being scared, fearful and afraid due to a lack of self-awareness and a lack of self-improvement. It’s not the end of the world and it can be turned around.

The difference with charismatic people is one little, tiny thing: they smile. All you have to do is change one little thing – smile a bit more. Smiling is contagious and it makes people feel confident. It also makes you feel freaking amazing too!

 

8. They give more than anyone else and expect jack in return

This last one is the toughest trait of charismatic people. It sounds incredibly difficult and that’s because it is. We all have our own selfish desires that make us feel good, although only for a moment.

Charismatic people wow everyone around them by always going above and beyond to give. They either give time, money, knowledge or a listening ear to those who need it. The crazy, passionate, charismatic people even combine several of these to produce an outcome that can only be described as extraordinary.

Many of us do in fact give; the challenge is we expect something back. Worse, we even complain when we do an honorable act and get nothing in return. This is not how to play the game of life. This selfish behavior will make you very unhappy until you cut it the hell out!

“The secret to living is giving ” Tony Robbins

So let’s go over this one more time boss. To harness the superpower of giving that leads to charisma you must:

– Be prepared to give more than anybody else
– Expect nothing in return
– Ensure your own foolish and selfish desires are not front of mind every day

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Success Advice

The Real Reason Why Your Dreams Don’t Become a Reality According to ‘The 10x Rule’ by Grant Cardone

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the 10x rule

Everyone has dreams. We all want to make something of ourselves yet it’s only a tiny percentage of people ever follow through. The self-help world encourages us to “Think Big”, “Follow Your Passions”, “Live as if there was no such thing as failure” and it usually just leads to keeping people stuck in a dream state, wishing, hoping and fantasizing yet never actually moving forward.

Why is this? Thinking big is just one part of the equation. This missing piece in the jigsaw is a bias towards massive action. Big Dreams + Little Action = disappointment and frustration.

Thinking and dreaming big must match with the equal and equivalent amount of action for it to go anywhere. When you combine big thinking with massive action you will be surprised at how much you are capable of, once you tap into the power of momentum.

What stops most people from achieving their goals?

I’ve been reading Grant Cardone’s “The 10X Rule: The Only Difference Between Success and Failure” and in his view success comes from taking 10 times more action than you previously anticipated.

What stops most people from achieving a goal is underestimating the time, effort and energy involved in completing the project. They don’t spend enough time listing the steps required to succeed, the adversity they will need to overcome to push things through and the price they must pay to attain the goal.

If the number one sticking point in goal attainment is a lack of action then it’s obvious that the solution is in massive action. So what happens is they give up at the first sign of frustration or disappointment.

“Never reduce a target. Instead increase actions. When you start rethinking your targets, making up excuses, and letting yourself off the hook, you are giving up on your dreams.” – Grant Cardone

When I look back on my own life, anything I have ever achieved that was worthwhile did take an extraordinary amount of effort. Anytime I have ever coasted or done a “normal” amount of work, I would fall short of my target and feel the pain of frustration and disappointment which lead to reducing my targets.

In “The 10 X Rule” Cardone talks about his own failures in business and how he bounced back; “I committed to making this work by increasing my efforts 10 times. And as soon as I did that, everything started to change – immediately. I went back into the marketplace with the right estimation of effort and started seeing results. Instead of making two to three calls a day, I started doing 20 to 30

Most people fail only because they are operating at the wrong degree of action. There are 4 degrees of action which you can choose from:

  1. Do Nothing
  2. Retreat
  3. Take Normal Levels of Action
  4. Take Massive Action

At the “do nothing” level people are just accepting what comes their way. They are not pushing themselves or motivated to improve any area of their lives.

Retreaters are those who have taken action, experienced some setbacks or failures and retreated back into “doing nothing”. Examples of this include “Most businesses fail anyway so I am going to give up”, “Marriages aren’t working out these days so I will stay single”, “Businesses aren’t employing so I am going to file for unemployment benefit”.

The third degree is normal levels of action which is usually considered adequate. Grant says this is the most dangerous level where most people blend in, never stand out and thus never achieve the real success they wanted.

Lastly there is massive action which Cardone states is our most natural state. This is where you burst forth with 10 times the action you previously anticipated. “The goal is to be seen, thought of and considered – in one way or another. Your only problem is obscurity not talent”.

Obscurity is your only problem not talent. I like that. I am sure you all know someone who is less capable than you but experiencing much more success than you are. Why? Because they are more known and fearlessly putting themselves “out there”. So which degree of action are you taking currently? And will you commit to taking 10x action?

“Regardless of which degree of action you operate in, they all require work in their own way.” – Grant Cardone

So why not set your goals and actions higher than you ever imagined because it is highly likely you are not only underestimating the time, energy and effort involved in your endeavour, you are also likely underestimating your own capabilities and potential. Set high goals and never stop fighting.

Share with us one goal you have for 2017, and how you plan on achieving it. Comment below so we can see!

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Success Advice

My Thoughts On Money After Being Both Rich And Poor

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I’ve been in financial situations where I couldn’t even afford a pizza.

I know what it’s like to have more money than you can spend. I know what it’s like to see your goals turn into cold hard cash.

Through these two extremes of poverty and wealth, I’ve learned a thing or two about money.

 

Your mind constructs money

Whether you feel rich or not has to do with your mind.

You can have $100 in your bank account and feel like the richest guy or girl in California. How rich you feel comes down to your internal programming. If you practice being grateful, then you’ll find yourself believing that you are already rich. You can have all the money this world has to offer and still feel poor.

“The time I felt the poorest was when I had the most money, but zero meaning for my life”

I always felt at this time in my life like I needed more. I always felt I wasn’t enough. When I went through the whole personal development transformation phase of my life, all of a sudden, just having money to buy a hot chocolate felt amazing!

Be careful what the world tells you about money. You get to decide the difference between rich vs. poor. The money you have in your bank account doesn’t answer this question for you.

 

Meaning Vs. Money

When I discovered a meaning for my life, suddenly money wasn’t as important. The dumb thing was that money started to find its way into my life again without me focusing on it. People were attracted to the meaning I had created for my life which then bought me more abundance.

My advice to anyone reading this is to focus on finding out the meaning of your life. If you can’t figure it out, then create one. Think about who you admire and the meaning they have for their life, and create something similar for yourself.

If you want to inspire people, then do it.
If you want to create a business that gives back, then do it.
If you want to write blog posts like this one to help people in life, then do it.

During the time I had more money than I knew what to do with, I had no idea what I was put on this Earth to do. I would import widget A, make some money, import widget B, and then start all over again. I felt like a robot repeating a pattern. At the end of the process, I got another couple of zeroes in my bank account.

Those zeros on the screen of my Internet banking got very boring, very quickly.

As soon as I found something that lit me up and helped others, the focus on seeing more zero’s on my Internet banking screen disappeared.

 

Im not saying money doesn’t matter

If you just read that Tim Denning thinks money doesn’t matter, then you didn’t get me.

Money does matter, but it shouldn’t be your primary focus. Your primary focus should be finding meaning which will lead you to something that self-motivates you. This self-motivating activity can then be monetized to give you the resources you need to live like food, shelter and maybe a vacation once in a while.

What I want you to feel is that your focus is on something other than money.

“Having been both rich and poor, I’ve mostly felt nothing at both extremes”

 

Meaning can also be found in life’s simple pleasures

I remember the feeling I got from reading Unlimited Power.
I remember what it was like when I fell in love for the first time.
I remember how cool it was to go on my very first overseas holiday.

All of these memories gave me a meaning for my life and made me feel something. Each memory created a variety of emotions that I can still remember as I reminisce on these pastimes.

Meaning came to me through the simplest of pleasures. I didn’t need a million dollar Lamborghini to make me feel like I was on top of the world. Lying on a beach with friends spending no money gave me far more than I could ever imagine.

If you’d told me this five years ago, I would have called you a liar. Having been both rich and poor, I now understand what meaning money gives me: not much.

 

Final words on money…

Focus on who you can become. Find or create a meaning for your life than transcends money.

Go beyond what society tells you about money. Most of it is a lie. Money will not give you meaning or make you happy.

Only you can create happiness and meaning for yourself.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Success Advice

5 Powerful Lessons About Success From Highly Successful Mentors

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We can’t help it. When we read an interview with a high flying, successful person, we secretly compare ourselves to them with our mind making little mental notes. Their lives seem perfect, and they seem so poised and confident. I wish I could be like that. Why do they seem to have it all, while I am struggling? When will things ever go my way?

For the longest time, I too believed in these popular myths of success, until I met several CEOs who became my mentors. When I asked each one of them what is the one biggest lesson they would like to share, their answers were unexpected, powerful and humbling.

These are the 5 powerful and humbling lessons they shared about success:

1. Nobody has Their Stuff Together

Just when you least expect it, an obstacle pops up, threatening to derail you from your goal. And sometimes, the bad news just keeps coming, which kicks you in the gut and you feel ready to give up. In comparison, successful people seem to be blazing trails of success. It almost seems unfair. While they appear to be picture perfect, where nothing can go wrong, the truth of it is this:

Nobody has their stuff together. We see these crowning moments of glory. But we don’t see the private, vulnerable moments behind the scenes. The sleepless nights worrying about what to do, where a series of wrong decisions resulted in people getting laid off. The endless meals alone in yet another soulless hotel room, with no one to share the burden with, because they don’t have the time to make a relationship work.

Obstacles and problems will always exist, no matter who you are. However, the challenges appearing to each of us is unique, and help us grow beyond the level we are at. A successful life is not about a lack of challenges, it’s about navigating and growing through the challenges so that we continue evolving to become the fullest potential of who we are.

2. Uncertainty Never Disappears

Brimming with confidence and well spoken, they always seem to know exactly what to say, and what to do in any situation. They seem to be the last people on earth to flail and feel vulnerable.

While on the surface they appear to be confident, the struggle with not knowing what to do plagues them as much as us. This can be the uncertainty of making a project work, because they have never done it before or lacking the necessary experience.

They can be worried that by taking this on, they might be biting off more than they can chew and experience massive failure and disastrous consequences. Nonetheless, the difference for them is despite their fears, they say yes and go ahead.

“Human spirit is the ability to face the uncertainty of the future with curiosity and optimism. It is the belief that problems can be solved, differences resolved. It is a type of confidence. And it is fragile. It can be blackened by fear and superstition.” – Bernard Beckett

3. Jump Before You Are Ready

Uncertainty and not knowing is a part of life. It never goes away. If you stay where you are, it feels safe and comfortable. But, it is a guarantee that you would not rise beyond where you are now if you don’t step out and make your move.

To take the leap of faith, your work through the uncertainty is the only way to grow. The fear of the unknown is not as scary as we make it out to be. All you have to do is to ask yourself “Do I believe I have what it takes to figure it out?” If your gut says yes, go for it.

4. It’s Not about External Motivation

Most successful people come with the traditional markers of success. Wealth. Status. A comfortable lifestyle. However, external motivation – the cars, the houses, the jewelry etc – can only motivate them so much.

Their motivation stems not from the outside – but from within themselves. It’s about their internal drive to be better thus building and expanding a grander vision of what they wish to create, and where they want to be.

That internal motivation is the driving force that pushes them through when things start to fall apart, because then it’s a battle within to overcome these setbacks and achieve their vision.

5. They Are Mental Ninja Masters

When everything that could go wrong, would go wrong, it’s natural to beat ourselves up. This negative feedback loop keeps replaying in our minds, and we start believing our negative self-talk, which threatens to spiral out of control and bring us down.

A few years ago, one of the CEOs I interviewed, Dave, was going through a particularly difficult time. Several major business deals fell through in quick succession. He emptied his life savings trying to keep things afloat, only for it to backfire and lost his life savings in the process.

He was faced with the real possibility of laying off hundreds of people at the company. Many lives were at stake here, and the pressure was on. He faltered, but only for a day.

He then rallied and continued to hustle. He hustled harder, stronger and faster than ever before. It was fascinating and impressive. What was his secret to bouncing back so fast from all the punches thrown at him?

He didn’t allow the negativity to control him. He controlled and directed his mind. Half the battle is with ourselves. We are often our own worst enemy with our negative self-talk.

Mastering control over your mind, instead of letting your mind control you is half the battle. Stop the negative self-talk when it happens. Redirect it towards positive action to achieve the outcome you desire.

“Protect your enthusiasm from the negativity of others.” – H. Jackson Brown, Jr.

Ready For Your Next Step?

Success is not out of reach. All it takes is showing up each day and having the courage to take one small step towards the direction of your goals. Your new life of freedom and possibility awaits.

How will you make sure to achieve the success you are looking for? Please comment below and let us know!

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Case in Point: Creativity Is a Good Drug for Entrepreneurs

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In today’s era, the production and exportation of varied products to international markets are growing bigger, all thanks to the excessive industrialization and globalization that enfold multiple industries. It makes it easy for people to access products whenever and wherever. As for consumers, they now have access to different kinds of products in different types and quality ranges. (more…)

Patrick Panuncillon is an adventurous entrepreneur and the clever mind behind LinkVista Digital Inc., the brainchild of his passion for digital marketing and SEO. He is also a big writing aficionado. He loves to write just about anything related to business and technology as a form of his creative outlet. Patrick is also a jet-setter and goes out on travel escapade whenever his time permits.

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10 Comments

10 Comments

  1. Nirajan

    Jul 26, 2014 at 11:42 pm

    Brilliant article, thanks

  2. Bubba

    Feb 14, 2014 at 10:30 pm

    Of course the title got your attention to read it. The point is that even the most successful business people screw up and learn from their mistakes to the tune of billions.

  3. DT

    Nov 1, 2013 at 11:35 pm

    Yep

  4. John Spence

    Feb 23, 2013 at 3:50 pm

    The article could have been entitled, “Seven mistakes to avoid in business”. It has little to do with any of the billionaires. …and the examples weren’t that good.

  5. Bernard

    Feb 23, 2013 at 3:34 pm

    I love your advises.keep on with the good work

    Bernard

  6. Jesse LaPrade

    Dec 10, 2012 at 2:48 pm

    This is very good advise for all entrepreneurs. Everyone can learn from this great advise.

    Keep on keeping on!

    Jesse

  7. Sarah

    Dec 4, 2012 at 2:16 pm

    Great article: I should be so lucky to have some of these mistakes and still make it as a billionaire!

  8. Deji R Yusuf

    Dec 3, 2012 at 4:54 pm

    Thanks Bro! Love this article and learnt a lot from it!

  9. darlington

    Nov 30, 2012 at 12:18 pm

    Thanks Joel, this was a brilliant article

    • Zaid

      Dec 10, 2012 at 9:10 am

      This is probably the most pretentious, ironically titled article I’ve read this semester…They’re billionaires you ASS! Mentioning an obviously unforeseeable mistake in hind site and pretending it’s a “common practice” that billionaires do…ugh…

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Success Advice

The Super Power Of Charisma – How You Can Adopt It For Yourself

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There’s this dude at the office. He’s fucking unstoppable.

His shit don’t stink and everything he touches turns to gold. At least that’s what I used to think.

Really, in reality, he’s just charismatic.

That’s how he got the cool job, the hot wifey and why everyone wants to be friends with him including me.

What does he do? Let’s delve a little deeper and discuss the eight things that lead to being charismatic:

 

1. Being confident baby!

This dude at work has swag. He backs himself even if he has no freaking idea what’s going to go down homey. In a business context, people that are confident are proven to be more trustworthy.

We trust confident people because it’s infectious. We want to work and be around confident people because it feels good. When something feels good, we do it, and do it lots!

My buddy at work walks into the room and people shake his hand because his presence changes the game. He also does these few things:

– He dresses confidently
– He pops his chest out just a fraction (not like the guy on the Bonds Singlet packet)
– He looks people in the eye

Out of these three, looking people in the eye is the hardest to do. To look into someone’s eye is the most vulnerable state you can put yourself in.

“The difference is that when you’re vulnerable, you connect with people better”

It also shows that you’ve got guts and allows you to enter their world. Okay, that’s wacky stuff and I may sound like I’ve read one too many “Power Of the Universe” type books. Take it or leave it chief.

 

2. Passion surrounds them. It pours out of their eyeballs!

Even the words I write demonstrate this. You can tell from everything I’m saying right now that passion pours out of me. I freaking love what I do and it shows even though you can’t see me or hear my voice. Okay, that’s a fraction creepy…enough about me.

This almighty bloke at work is charismatic because his values and beliefs are based on his passion. Passion is like a magnet according to science. When we see passion, it makes us start acting with more passion. You’re drawn to charisma in the same way because you want more of it.

There’s no point pretending you don’t like to be passionate because we all do. Sometimes, we just get lost and lose our passion for life or our career. That’s okay! None of us are perfect souls who don’t lose our way once in a while. I’m fucking lost more than I’m on track half the time.

Bottom-line: charismatic people are surrounded by passion. I don’t care if it’s collecting matchsticks or building sand castles – find something to get excited about and then show your passion for it.

 

3. They’re not vain: selfies are not their highest priority.

This charismatic chappy at work doesn’t spend half his days taking selfies of himself and then posting it on social media.

He doesn’t take photos of his food and then post it on social – he just eats it. He’d rather jump off a bridge than be a pretentious snob who’s insecure and has an inflated ego to compensate.

“The number one sign of a pretentious person vs a charismatic person is that they take credit for things they didn’t do”

Or they make things sound ten times bigger than they actually are in reality. Don’t fall for this trap young Indiana Jones. You’re better than that!

 

4. Expressing yourself through great stories

Storytelling is one of the many traits a charismatic person has. If you listen closely to their stories, you’ll notice they use strong phrases like “I know X to be true” instead of phrases like “I think,” or “I hope” which sounds weak.

Through stories, you can be: funny, vulnerable and share embarrassing moments. That’s what charismatic people do and they draw everyone in through their stories. As a side note, their stories don’t go on forever and they know how to get to the point.

Become a charismatic poet through stories about your experiences. Educate and inspire people around you and you’ll be acting charismatic by default.

 

5. Make other people feel comfortable around you

Not everyone is a hero and is comfortable being charismatic and confident. You can demonstrate charisma by learning to make others feel relaxed around you. Make other people the center of attention and let them feel special. There’s a subtle difference between charisma and hogging the conversation with your own bombastic, overpowering, unnecessary and selfish talk.

Back down; you’re not that big of a deal. Once you do that, you’ll have entered the universe of charisma.

 

6. A clear purpose and vision. In other words, they know why.

Part of what makes up the DNA of a charismatic person is their purpose or vision for their life. Quite simply, they know what they’re on this planet to do. They have a goal, it’s measurable, and they’ll stop at nothing until they achieve it.

To be in this state requires a certain sort of self-confidence that charismatic people have in spades. People seem to rally around a person who knows their purpose.

You can’t do anything and be motivated unless you know why. Without a why you’ll never build up enough momentum to reach any sort of peak performance. Mediocrity happens to us when we give up too easily. When we start a new pursuit for 4 weeks and then give up.

Map the seven seas of why you exist. Do a heap of self-reflection if you need to, to find this vision and bring it to the surface.

 

7. They look approachable

Most people look like they’re zombies when you walk past them and they almost look like they’re going to explode if you dare talk to them. That’s not charisma pal!

That unapproachable zombie look is called being scared, fearful and afraid due to a lack of self-awareness and a lack of self-improvement. It’s not the end of the world and it can be turned around.

The difference with charismatic people is one little, tiny thing: they smile. All you have to do is change one little thing – smile a bit more. Smiling is contagious and it makes people feel confident. It also makes you feel freaking amazing too!

 

8. They give more than anyone else and expect jack in return

This last one is the toughest trait of charismatic people. It sounds incredibly difficult and that’s because it is. We all have our own selfish desires that make us feel good, although only for a moment.

Charismatic people wow everyone around them by always going above and beyond to give. They either give time, money, knowledge or a listening ear to those who need it. The crazy, passionate, charismatic people even combine several of these to produce an outcome that can only be described as extraordinary.

Many of us do in fact give; the challenge is we expect something back. Worse, we even complain when we do an honorable act and get nothing in return. This is not how to play the game of life. This selfish behavior will make you very unhappy until you cut it the hell out!

“The secret to living is giving ” Tony Robbins

So let’s go over this one more time boss. To harness the superpower of giving that leads to charisma you must:

– Be prepared to give more than anybody else
– Expect nothing in return
– Ensure your own foolish and selfish desires are not front of mind every day

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Success Advice

The Real Reason Why Your Dreams Don’t Become a Reality According to ‘The 10x Rule’ by Grant Cardone

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Everyone has dreams. We all want to make something of ourselves yet it’s only a tiny percentage of people ever follow through. The self-help world encourages us to “Think Big”, “Follow Your Passions”, “Live as if there was no such thing as failure” and it usually just leads to keeping people stuck in a dream state, wishing, hoping and fantasizing yet never actually moving forward.

Why is this? Thinking big is just one part of the equation. This missing piece in the jigsaw is a bias towards massive action. Big Dreams + Little Action = disappointment and frustration.

Thinking and dreaming big must match with the equal and equivalent amount of action for it to go anywhere. When you combine big thinking with massive action you will be surprised at how much you are capable of, once you tap into the power of momentum.

What stops most people from achieving their goals?

I’ve been reading Grant Cardone’s “The 10X Rule: The Only Difference Between Success and Failure” and in his view success comes from taking 10 times more action than you previously anticipated.

What stops most people from achieving a goal is underestimating the time, effort and energy involved in completing the project. They don’t spend enough time listing the steps required to succeed, the adversity they will need to overcome to push things through and the price they must pay to attain the goal.

If the number one sticking point in goal attainment is a lack of action then it’s obvious that the solution is in massive action. So what happens is they give up at the first sign of frustration or disappointment.

“Never reduce a target. Instead increase actions. When you start rethinking your targets, making up excuses, and letting yourself off the hook, you are giving up on your dreams.” – Grant Cardone

When I look back on my own life, anything I have ever achieved that was worthwhile did take an extraordinary amount of effort. Anytime I have ever coasted or done a “normal” amount of work, I would fall short of my target and feel the pain of frustration and disappointment which lead to reducing my targets.

In “The 10 X Rule” Cardone talks about his own failures in business and how he bounced back; “I committed to making this work by increasing my efforts 10 times. And as soon as I did that, everything started to change – immediately. I went back into the marketplace with the right estimation of effort and started seeing results. Instead of making two to three calls a day, I started doing 20 to 30

Most people fail only because they are operating at the wrong degree of action. There are 4 degrees of action which you can choose from:

  1. Do Nothing
  2. Retreat
  3. Take Normal Levels of Action
  4. Take Massive Action

At the “do nothing” level people are just accepting what comes their way. They are not pushing themselves or motivated to improve any area of their lives.

Retreaters are those who have taken action, experienced some setbacks or failures and retreated back into “doing nothing”. Examples of this include “Most businesses fail anyway so I am going to give up”, “Marriages aren’t working out these days so I will stay single”, “Businesses aren’t employing so I am going to file for unemployment benefit”.

The third degree is normal levels of action which is usually considered adequate. Grant says this is the most dangerous level where most people blend in, never stand out and thus never achieve the real success they wanted.

Lastly there is massive action which Cardone states is our most natural state. This is where you burst forth with 10 times the action you previously anticipated. “The goal is to be seen, thought of and considered – in one way or another. Your only problem is obscurity not talent”.

Obscurity is your only problem not talent. I like that. I am sure you all know someone who is less capable than you but experiencing much more success than you are. Why? Because they are more known and fearlessly putting themselves “out there”. So which degree of action are you taking currently? And will you commit to taking 10x action?

“Regardless of which degree of action you operate in, they all require work in their own way.” – Grant Cardone

So why not set your goals and actions higher than you ever imagined because it is highly likely you are not only underestimating the time, energy and effort involved in your endeavour, you are also likely underestimating your own capabilities and potential. Set high goals and never stop fighting.

Share with us one goal you have for 2017, and how you plan on achieving it. Comment below so we can see!

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Success Advice

My Thoughts On Money After Being Both Rich And Poor

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I’ve been in financial situations where I couldn’t even afford a pizza.

I know what it’s like to have more money than you can spend. I know what it’s like to see your goals turn into cold hard cash.

Through these two extremes of poverty and wealth, I’ve learned a thing or two about money.

 

Your mind constructs money

Whether you feel rich or not has to do with your mind.

You can have $100 in your bank account and feel like the richest guy or girl in California. How rich you feel comes down to your internal programming. If you practice being grateful, then you’ll find yourself believing that you are already rich. You can have all the money this world has to offer and still feel poor.

“The time I felt the poorest was when I had the most money, but zero meaning for my life”

I always felt at this time in my life like I needed more. I always felt I wasn’t enough. When I went through the whole personal development transformation phase of my life, all of a sudden, just having money to buy a hot chocolate felt amazing!

Be careful what the world tells you about money. You get to decide the difference between rich vs. poor. The money you have in your bank account doesn’t answer this question for you.

 

Meaning Vs. Money

When I discovered a meaning for my life, suddenly money wasn’t as important. The dumb thing was that money started to find its way into my life again without me focusing on it. People were attracted to the meaning I had created for my life which then bought me more abundance.

My advice to anyone reading this is to focus on finding out the meaning of your life. If you can’t figure it out, then create one. Think about who you admire and the meaning they have for their life, and create something similar for yourself.

If you want to inspire people, then do it.
If you want to create a business that gives back, then do it.
If you want to write blog posts like this one to help people in life, then do it.

During the time I had more money than I knew what to do with, I had no idea what I was put on this Earth to do. I would import widget A, make some money, import widget B, and then start all over again. I felt like a robot repeating a pattern. At the end of the process, I got another couple of zeroes in my bank account.

Those zeros on the screen of my Internet banking got very boring, very quickly.

As soon as I found something that lit me up and helped others, the focus on seeing more zero’s on my Internet banking screen disappeared.

 

Im not saying money doesn’t matter

If you just read that Tim Denning thinks money doesn’t matter, then you didn’t get me.

Money does matter, but it shouldn’t be your primary focus. Your primary focus should be finding meaning which will lead you to something that self-motivates you. This self-motivating activity can then be monetized to give you the resources you need to live like food, shelter and maybe a vacation once in a while.

What I want you to feel is that your focus is on something other than money.

“Having been both rich and poor, I’ve mostly felt nothing at both extremes”

 

Meaning can also be found in life’s simple pleasures

I remember the feeling I got from reading Unlimited Power.
I remember what it was like when I fell in love for the first time.
I remember how cool it was to go on my very first overseas holiday.

All of these memories gave me a meaning for my life and made me feel something. Each memory created a variety of emotions that I can still remember as I reminisce on these pastimes.

Meaning came to me through the simplest of pleasures. I didn’t need a million dollar Lamborghini to make me feel like I was on top of the world. Lying on a beach with friends spending no money gave me far more than I could ever imagine.

If you’d told me this five years ago, I would have called you a liar. Having been both rich and poor, I now understand what meaning money gives me: not much.

 

Final words on money…

Focus on who you can become. Find or create a meaning for your life than transcends money.

Go beyond what society tells you about money. Most of it is a lie. Money will not give you meaning or make you happy.

Only you can create happiness and meaning for yourself.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Success Advice

5 Powerful Lessons About Success From Highly Successful Mentors

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We can’t help it. When we read an interview with a high flying, successful person, we secretly compare ourselves to them with our mind making little mental notes. Their lives seem perfect, and they seem so poised and confident. I wish I could be like that. Why do they seem to have it all, while I am struggling? When will things ever go my way?

For the longest time, I too believed in these popular myths of success, until I met several CEOs who became my mentors. When I asked each one of them what is the one biggest lesson they would like to share, their answers were unexpected, powerful and humbling.

These are the 5 powerful and humbling lessons they shared about success:

1. Nobody has Their Stuff Together

Just when you least expect it, an obstacle pops up, threatening to derail you from your goal. And sometimes, the bad news just keeps coming, which kicks you in the gut and you feel ready to give up. In comparison, successful people seem to be blazing trails of success. It almost seems unfair. While they appear to be picture perfect, where nothing can go wrong, the truth of it is this:

Nobody has their stuff together. We see these crowning moments of glory. But we don’t see the private, vulnerable moments behind the scenes. The sleepless nights worrying about what to do, where a series of wrong decisions resulted in people getting laid off. The endless meals alone in yet another soulless hotel room, with no one to share the burden with, because they don’t have the time to make a relationship work.

Obstacles and problems will always exist, no matter who you are. However, the challenges appearing to each of us is unique, and help us grow beyond the level we are at. A successful life is not about a lack of challenges, it’s about navigating and growing through the challenges so that we continue evolving to become the fullest potential of who we are.

2. Uncertainty Never Disappears

Brimming with confidence and well spoken, they always seem to know exactly what to say, and what to do in any situation. They seem to be the last people on earth to flail and feel vulnerable.

While on the surface they appear to be confident, the struggle with not knowing what to do plagues them as much as us. This can be the uncertainty of making a project work, because they have never done it before or lacking the necessary experience.

They can be worried that by taking this on, they might be biting off more than they can chew and experience massive failure and disastrous consequences. Nonetheless, the difference for them is despite their fears, they say yes and go ahead.

“Human spirit is the ability to face the uncertainty of the future with curiosity and optimism. It is the belief that problems can be solved, differences resolved. It is a type of confidence. And it is fragile. It can be blackened by fear and superstition.” – Bernard Beckett

3. Jump Before You Are Ready

Uncertainty and not knowing is a part of life. It never goes away. If you stay where you are, it feels safe and comfortable. But, it is a guarantee that you would not rise beyond where you are now if you don’t step out and make your move.

To take the leap of faith, your work through the uncertainty is the only way to grow. The fear of the unknown is not as scary as we make it out to be. All you have to do is to ask yourself “Do I believe I have what it takes to figure it out?” If your gut says yes, go for it.

4. It’s Not about External Motivation

Most successful people come with the traditional markers of success. Wealth. Status. A comfortable lifestyle. However, external motivation – the cars, the houses, the jewelry etc – can only motivate them so much.

Their motivation stems not from the outside – but from within themselves. It’s about their internal drive to be better thus building and expanding a grander vision of what they wish to create, and where they want to be.

That internal motivation is the driving force that pushes them through when things start to fall apart, because then it’s a battle within to overcome these setbacks and achieve their vision.

5. They Are Mental Ninja Masters

When everything that could go wrong, would go wrong, it’s natural to beat ourselves up. This negative feedback loop keeps replaying in our minds, and we start believing our negative self-talk, which threatens to spiral out of control and bring us down.

A few years ago, one of the CEOs I interviewed, Dave, was going through a particularly difficult time. Several major business deals fell through in quick succession. He emptied his life savings trying to keep things afloat, only for it to backfire and lost his life savings in the process.

He was faced with the real possibility of laying off hundreds of people at the company. Many lives were at stake here, and the pressure was on. He faltered, but only for a day.

He then rallied and continued to hustle. He hustled harder, stronger and faster than ever before. It was fascinating and impressive. What was his secret to bouncing back so fast from all the punches thrown at him?

He didn’t allow the negativity to control him. He controlled and directed his mind. Half the battle is with ourselves. We are often our own worst enemy with our negative self-talk.

Mastering control over your mind, instead of letting your mind control you is half the battle. Stop the negative self-talk when it happens. Redirect it towards positive action to achieve the outcome you desire.

“Protect your enthusiasm from the negativity of others.” – H. Jackson Brown, Jr.

Ready For Your Next Step?

Success is not out of reach. All it takes is showing up each day and having the courage to take one small step towards the direction of your goals. Your new life of freedom and possibility awaits.

How will you make sure to achieve the success you are looking for? Please comment below and let us know!

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