Courtesy-POLITICO |
Michael Bloomberg is one the richest in the world with total net worth of
50.5 Billion US Dollars according to Forbes. I found this article on Wall Street
Oasis, where, he personally shared these tips on success. Michael Bloomberg: The following are some tips for becoming
a successful entrepreneur based on my experience of building a company from the
ground up, leading New York City as mayor, and founding a philanthropic
organization.
1. Take risk
Life is too short to spend your time avoiding failure.
In 1981, at the age of 39, I was fired
from the only full-time job I'd ever had - a job I loved.But I never let myself look back, and
the very next day I took a big risk and began my own company based on an
unproven idea that nearly everyone thought would fail: making financial
information available to people, right on their desktops. Remember, this was
before people had desktops.
In 2001, when I was debating whether to
run for mayor, most people advised me against it. They all were afraid I'd
fail. But one person said: "If you can picture yourself giving a
concession speech, then why not go for it?" That was the best advice I
received - and I followed it.
In order to succeed, you must first be
willing to fail - and you must have the courage to go for it anyway.
2. Make your own luck
Luck plays a part in success, but the
harder you work, the luckier you get.
Whatever you choose to do, even if it's
not the job of your dreams, always work hard at it. Be the first person at work
in the morning and the last to leave at night. Hard work creates opportunities
where your resume cannot.
3. Be persistent
Persistence really does pay off.
When starting my company, I would go
downtown and buy cups of coffee. Then I'd take the coffee up to Merrill Lynch - our target audience - and walk
the hallways.
"Hi," I would say. "I'm
Mike Bloomberg and I brought you a cup of coffee. Can I talk to you?"
Even if people were wondering who I was
or where I came from, they still took the coffee.
And I kept coming back, day after day,
working to build relationships with potential customers. I learned about the
audience for our product and what they could really use.
Three years after starting Bloomberg
LP, Merrill Lynch purchased 20 terminals and
became our first customer.
4. Never stop learning
The most powerful word in the English
language is "Why." There is nothing so powerful as an open, inquiring
mind. Whatever field you choose for starting a business - be a lifelong
student.
The world is full of people who have
stopped learning and who think they've got it all figured out. You've no doubt
met some of them already - and you'll meet plenty more.
Their favorite word is "No."
They will give you a million reasons why something can't be done or shouldn't
be done.
Don't listen to them, don't be deterred
by them, and don't become one of them. Not if you want to fulfill your
potential - and not if you want to change the world for the better.
5. Give back
You are ultimately responsible for your
success and failure, but you only succeed if you share the reward with others.
At the end of the day, ask yourself:
"Am I making a difference in the lives of others?"
My first charitable donation was a $5
check to my alma mater, Johns Hopkins, not long after I graduated. I was just
scraping by back then, but I continued to give. And while the checks may be
bigger today, they come with the same spirit. You don't have to be wealthy to
give back. You can give back by getting involved and giving your time and
talents. You just have to be committed to opening doors for others.
Culled from WSO(Wall Street Oasis)
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