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10 Secrets for Success From 5 Self-made Billionaires

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Steve Jobs, Bill Gates, Mark Zuckerberg, Richard Branson and John Paul DeJoria are all self-made billionaires.

This article originally appeared on CNBC by Catherine Clifford

Here are 10 inspiring lessons you can learn from their journeys to the top.

Richard Branson at the 2016 World Economic Forum in Davos, Switzerland.

David A. Grogan | CNBC

1. Richard Branson: Dream big

 “Dreaming is one of humanity’s greatest gifts; it champions aspiration, spurs innovation, leads to change, and propels the world forward,” says Branson, in a blog post published earlier this year. “In a world without dreams there would be no art, no adventure, no moon landing, no female CEOs, and no civil rights. “What a half-lived and tragic existence we would have.”

“The benefits of dreaming far outweigh the perceived risks, because the value of dreaming isn’t just measured by the outcome, but the inspiration that comes from journey of achieving the dream.”

Read: How i went from $40,000 in debt to a millionaire by 30

2. Mark Zuckerberg: Be willing to make big bets

When Facebook launched the News Feed feature in 2006, protesters demanded that the social networking site return to its earlier state. Zuckerberg is proud of his team for not caving to popular opinion.

“One of the things I’m most proud of about Facebook is that we believe things can always be better, and we’re willing to make big bets if we think it will help our community over the long term,” writes the CEO. “News Feed has been one of the big bets we’ve made in the past 10 years that has shaped our community and the whole internet the most.”

3. Richard Branson: Love the journey

When Branson wrote about the closing of the Virgin American brand, he celebrated the process of building the airline: “This was the ride and love of a lifetime. I feel very lucky to have been on it with all of you.”

4. Steve Jobs: Obsess over the details

Jobs had a reputation for being ruthless, but Kara Swisher, the executive editor of Recode, says that was a result of his obsession with perfection.

“People used to say he was heartless,” says Swisher, talking to Tim Ferriss, author of “Tools of Titans” and “The 4-Hour Workweek,” on his podcast, “The Tim Ferriss Show.” She sees it differently: “I think he had too much heart. You know what I mean? He cared too much. He had so much heart that he just couldn’t stand it when things weren’t right.”

Read also: 8 People just like you who made $1 million

“The benefits of dreaming far outweigh the perceived risks.” -Richard Branson, founder of Virgin Group

5. Mark Zuckerberg: Apologize quickly when you mess up

After emotionally sensitive user content was removed by the Facebook content regulation algorithm earlier this year, Zuckerberg apologized publicly.

“We’ve seen this in misclassifying hate speech in political debates in both directions — taking down accounts and content that should be left up and leaving up content that was hateful and should be taken down,” says Zuckerberg on his Facebook account. “This has been painful for me, because I often agree with those criticizing us that we’re making mistakes.”

Afterwards, leadership experts said the CEO’s apology increased his credibility.

6. Bill Gates: Seek out simple solutions

“The barrier to change is not too little caring; it is too much complexity. To turn caring into action, we need to see a problem, see a solution, and see the impact. But complexity blocks all three steps,” the co-founder of Microsoft said in his 2007 Harvard commencement address.

“Finding solutions is essential if we want to make the most of our caring,” Gates said. “If we have clear and proven answers anytime an organization or individual asks, ‘How can I help?,’ then we can get action and we can make sure that none of the caring in the world is wasted. But complexity makes it hard to mark a path of action for everyone who cares, and that makes it hard for their caring to matter.”

7. Steve Jobs: Focus is everything

“He had a focus that was unlike any other,” says Tim Cook, as explanation for why Steve Jobs was the person who influenced him most. What allowed the legendary CEO of Apple to focus so intently was his ability to prioritize, says Cook: “His thinking was so pure. He wasn’t trying to maximize his wealth, or anything else.”

8. John Paul DeJoria: Launch a business in an industry driven by repeat customers

The co-founder of Paul Mitchell hair products and Patron Tequila is a billionaire now, but early on in his life, he was homeless and collecting cans for money.

His best advice for entrepreneurs is to build a business in an industry that doesn’t require lots of persuading buyers. Instead, he seeks out products or services that will become part of a customer’s routine.

“You don’t want to be in the selling business,” DeJoria says. Instead, you want to be in the reorder business, where “your product or service is so good, people want to reorder it or reuse it.”

Read: 5 Habits of the wealthy that helped them get rich

How to spot a billion dollar brand: John Paul DeJoria

How to spot a billion dollar brand: John Paul DeJoria

9. Richard Branson: Be yourself

Branson has four young grandchildren, three toddlers and one newborn, he says in a blog post. “I’ve been thinking a lot about the meaning of life and about the things that I want to teach them so that they live the best life possible,” Branson says.

The Virgin founder and chairman says he keeps coming back to a quote from the children’s book “Happy Birthday to You!” by Dr. Seuss: “Today you are You, that is truer than true. There is no one alive who is You-er than You!”

Branson suffers from dyslexia. He has had to learn to embrace his uniqueness, rather than allow it to be an impediment. “Yourself is always the best version of you — and being yourself is among the best advice I have ever received,” says Branson.

10. Bill Gates: Give back

“My mother, who was filled with pride the day I was admitted here, never stopped pressing me to do more for others,” Gates told the Harvard graduating class. “A few days before my wedding, she hosted a bridal event at which she read aloud a letter about marriage that she had written to Melinda. My mother was very ill with cancer at the time, but she saw one more opportunity to deliver her message, and at the close of the letter she said, ‘From those to whom much is given, much is expected.'”

Gates listened to his mother. He is one of the founding members of The Giving Pledge, through which wealthy individuals commit to donating more than half of their fortunes. He is also the co-founder of the Bill and Melinda Gates Foundation, which works to lift children out of extreme poverty

Source: CNBC

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Untrue Myths About What Makes A Successful Entrepreneur

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It is without question that at the age 40 most people have already made their own family. And if you want to maintain a peaceful home you at least need to have an income or enough savings that will guarantee your family’s cost of living for the longest time possible. It is not impossible to put measures in place to start up your own business.

It is not your age: There is a philosophy that “a fool at 40 is a fool forever”. Is this true? Maybe, maybe not. A fool at every age can be a fool forever if you refuse to wise up and change. Well, sometimes it makes it easier when you are young and have less responsibilities. One very important quality that will help you as an entrepreneur is high emotional intelligence When you are 40 you are more likely to have enough of it than the young entrepreneur.

Related: 10 Bad habits that successful entrepreneurs avoid

It is not your working experience: When you are 40 you tend to have a lot of experience. That is not the most important factor that will make you successful as an entrepreneur. Your experience will not help if it didn’t wise you up. Take business advice from successful entrepreneur and read more about entrepreneurship. That will broaden your knowledge and lead you on the right path to becoming a successful entrepreneur.

Related:7 Morning habits that make you successful

Investors do not consider age as a factor to invest in your business: no investor would ignore the opportunity to invest in a business because the CEO is too old or too young. You have to be able to convince them that you know what you are about. You have to show them how committed you are to achieving your goal.

It is not money: the success of your business does not depend on the huge amount of money you invested in it. Effective and efficient management is what counts.

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Challenges And Prospects In Running A Small Business In Ghana

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Running a small business in Ghana comes with lots of challenges. Aside the fact that Ghana is a developing country, some businessmen and businesswomen perceive it as being characterized by ethnic and political discrimination. There is also the issue of price instability, resulting in comparatively higher inflation rate, which keeps reducing the purchasing power day by day, and increasing cost of operations as production inputs continue to rise steadily. Other challenges include high electricity bills and water bills,  business operating permit , income taxes and even bribery.

Challenges

Our economy is still a developing one. GDP growth rate has been low considering the capacity of growth. There is also low salaries which also leads to low disposable income. This is due to the fact that the government is the biggest employer in our formal sector. The local startup ecosystem still relies heavily on the support of the government and and to an extent, the benefits of urbanization.

Another challenge is registration and regulations. Majority of the workers in these government agencies are laid back in doing their jobs in comparison to workers of private companies. Therefore as a private business man, it is up to you to push very hard to get things done – in some cases offering tips to workers in order to receive basic services in a timely manner. If you are able to go past this stage, then the market is all yours to face. The organization of markets and industries itself present challenges (as well as opportunities) to all participants.

Also other major limitations are, the relatively low internet penetration, intermittent shortage in power generation and high electricity costs, and legislative supports, high level of corruption and limited access to VC and seed money.
However there are some few prospects you can focus on during your start and figure out ways to take advantage of them.

Opportunities in Ghana

Despite the seemingly endless challenges, there are also numerous reasons for anyone to start a small business in the country. Ghana presents a large youth population, gradual economic expansion and development, robust telecommunication infrastructure, abundant human resource, low wages among others. The legal system is one that is fast developing and presents numerous courts for redress. In addition, there is a generally supportive socio-political environment -one conducive for investors and entrepreneurs looking at doing business in Africa for the long-term

Attractive industries you can focus on include but not limited to tourism, media & entertainment, e-jobs, agriculture, manufacturing, financial services.

 

 

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These 5 Drawbacks Could be The Reasons Why You Are Not Hired

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Statistics regarding unemployment worldwide is staggering. According to the Office for National Statistics UK, there were 1.42 million unemployed people (people not in work but seeking and available to work), 59,000 fewer than for April to June 2017 and 182,000 fewer than for a year earlier.

The shocking aspect is that there are lots of ‘qualified’ personnel out there who can fill the few vacancies available but due to a few errors, they always left frustrated.

I have outlined five reasons other than your qualifications why employers won’t hire you.

You Smell Bad

Recently there was an uproar in Ghana concerning a woman who died during a an interview session. Reports suggest the woman was extremely nervous and was sweating profusely throughout the interview process. Unfortunately, she couldn’t take the ‘heat’ and subsequently passed out.

Interviews can cause a lot of anxiety. It’s a bad idea to smoke in a bid to calm your nerves prior to a job interview. This can be a recipe for disaster. If you walk into the interview right after having that smoke, chances are that you are going to reek of smoke. That can be a turn off for many people.

The last thing you want to do in a job interview is give the employer a reason not to like you. The same goes for heavy cologne or perfume use. You never know who has allergies, sensitivities or simple distaste for the scent. Play it safe, go in clean and fresh. I always advise my candidates to go in smelling normal, Normal here, i mean smelling their usual self , avoiding the use of an expensive perfume or “Low class perfume”.. you can’t really tell which will give you away.

I have had candidates telling me how their expensive smelling perfume was the same the CEO was wearing and that sparked a connection right on the go, same scenario caused another candidate her Job, her future boss wasn’t ready to smell the same with with her Personal assistant. To avoid all these go in as you are , the smell from your body cream and bathing soap should be just fine.

But hey , it’s not really a big deal if you really technically qualify for the role, serious employers wont pay attention to that but rather help you become a better person if they smell something bad on you

Your Social Media Attitude

Social media is like a double-edged sword-it’s both useful and dangerous. Things that you publish has the potential to be broadcast to unforeseen audiences. Even if you have strict privacy settings, it is possible for someone inside your network to copy and share photos or posts.

Picture job searching as a two-way mirror. On one side, there’s you: a hopeful job seeker Googling everything and anything you can find out about your dream employer. And on the other side is your potential employer who can now look in every nook and cranny online to learn all about you.

You may be thinking: “Will companies really take the time to look at my social media accounts?” The answer? Absolutely. A recent study by the Society For Human Resource Management (SHRM) found that 84% of employers recruit via social media, and 43% of employers screen job candidates through social networks and search engines.

Employers will Google you and look you up on social media sites. We always do that , the first place i look for prospective candidate is Linkedin and then Google Search and Facebook.

On Linkedin I am interested in your Career Experience, your connections, Responsilibilties you played or is playing and then i look at the your recommendations from other Linkedin memeber. On Goolge search i am propbably looking to see your face, which is not really factor but i need to psych myself before our first meeting, so having a pictorial view of you set my mind at peace. I also look our for any links that has you mentioned in there, it could a bad press on you or a good one, all these will help me prepare well enough for our meeting. At times, i follow up links to see which sites it can be found, because i do more of digital media head hunting , most of the candidate i met have their own websites, blogs etc

Then i move on to facebook to check your social interactions, this really matters a lot to most clients and it is because modern companies are looking for team players, community builders, brand cheerleaders, influencers who can advocate for the brand they work with. How you interact with others on Facebook says a lot about you , The kind of comments you leave under people’s post and vice versa, the sort of media and   pages  you are interested in informs me a great deal of who are.

There have several instances where i had to print out a post a prospective social media candidate made just to discuss with him because i found it to very political and that was the same type of candidate the client wasn’t interested in. Eventually i couldn’t proceed to the stage stage with him due to the reason he gave me inferring from the post he did two years before our meeting .

In this era of slay queens and rogue display on social media, it’s paramount to ‘behave decently’ so you don’t mess up your chances of securing your dream job in the future.

You Don’t Do Any Research

You should have full knowledge about what your prospective company does. Employers want to hire candidates who know about their industry and its challenges, and who have thought about ways that they can contributed to the company’s success.

Imagine the interviewer asking you, “So, how can you solve some of our logistics problems?’ and you have no idea what the company even does, I’m not sure you would be called.

It’s always good to go the extra mile to know what the company does, and if you have any chance of knowing who your interviewer will be , the better . I have a personal experience where i researched on  a company before hand. I assumed the HR Manager, the CEO and the COO might be in the interview so i looked their names and profiles up on linkedin.

That gave me a deeper understanding of their experiences and possible expectations from me, the CEO was more interested in figures because he had an MBA in finance on his Linkedin profile and from his looks i assumed he would be in his early 50s and i was right- so i printed some of my past achievements showing clearly the metrics in bold ink – That is , the pageviews , facebook likes and enagements , then leads i have achieved in my current role – The COO  appeared more pragmatic to me so i knew i had to do alot of talking and scenarios to get my way through. This worked out very well for me and i ended  up avoiding the usual boring interview questions.

You’re Sloppy

Being sloppy goes a long way to reveal your personality.You have to proofread your resume and cover letter carefully.

Check for misused words, spelling mistakes and typos before submission otherwise you’ll appear as someone who doesn’t pay attention to detail, or you just don’t care that much. Any of those can keep you from being hired.

Mostly Candidate often think employers dont pay attention to resumes or don’t spend much time looking for some of these things. The thing is any employer who doesnt pay attention to details is sloppy and you will do just fine with him if you are sloppy yourself.

Recruitmrnts and Selection a serious business, take time to rework your resume for each role i mostly advise my candidates- avoid common typos

You’re Desperate

Yeah, I know you are desperate and want this job badly-but please maintain your composure. While it’s good to be enthusiastic about the role, employers are turned off by candidates who seem simply desperate for a job. It’s a fine line: you have to play it cool, but not too cool. Display confidence without being cocky.

 

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