Key learnings from 40 billionaires

In a recent episode of the podcast ‘On Your Mark Get Set Grow’ the host interviews Rick Sapio, founder of Mutual Capital Alliance and its CEO for 20 years. Rick shares the lessons he gleaned from interviewing more than 40 billionaires… 

Rick had lunch with many billionaires to learn what he could and build a relationship with them. Searching for patterns in the information he garnered from these extremely successful entrepreneurs, he noted a clear difference between a billionaire’s mindset and that of a millionaire.

Billionaires think about things differently.

Rick explained that billionaires don’t move forward with anything in business unless they find the perfect person to run that potential venture. If they don’t find the right person, they don’t pursue the opportunity.

In contrast, Rick states that millionaires are more likely to dive right into a new business and run around frantically getting everything set up and happening. Billionaires have more foresight — Rick actually spent four weeks with Richard Branson who, he said, had the incredible foresight to hire his first CEO when he was only 16!

Another interesting quirk about billionaires is that most of them don’t have an office — less than 10% in fact. They deliberately position themselves a step away from their business; they understand the clear distinction between owner and operator of their company.

Billionaires want their businesses to run without their input and he found that some of them enjoyed being inaccessible. Yet, every one of the billionaires had a long-term accountability partner who kept them aligned with their goals.

The key takeaways from this interview:

1. Move to CEO Island — hire top C-suite talent to manage day-to-day activities so you're free to focus on the company's vision.
2. Point to a Huge, Outrageous Target — if your company isn't focused on hitting your HOT, then what is it doing?
3. "Simplicity is the ultimate sophistication" — the less cluttered your desk and company offerings are, the better your probability of hitting BIG growth.

As Warren Buffet said that “the difference between successful people and extremely successful people is that extremely successful people say 'no' to almost everything and only say 'yes' to things that completely align with their stated objectives and values”.

When you're clear on where you’re going and you know your North Star, take as Rick Sapio says ‘conscious action’ in the direction of your goals. Stay in alignment to your vision and watch your success unfold.

Ultimately we are here to ‘express our greatness’… let’s get to work.

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Naomi Simson is the founder of RedBalloon and co-founder of The Big Red Group (BRG). She has been blogging for a decade at NaomiSimson.com, is a professional speaker, author of Live What You Love & Ready To Soar, and a “Shark” on business reality show Shark Tank Australia.

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