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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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The Self-Made Billionaire Effect summary
John Sviokla
Mitch Cohen
How Extreme Producers Create Massive Value
14 mins
Brief summary
'The Self-Made Billionaire Effect' by John Sviokla and Mitch Cohen analyzes the personality traits and habits of self-made billionaires and provides insights for entrepreneurs aiming to achieve similar success.
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The Self-Made Billionaire Effect
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Key idea 1 of 6
Self-made billionaires excel at juggling multiple ideas and perspectives.
What does it take to be a billionaire these days? To reach such heights, you have to approach your goal very differently than the average entrepreneur. In a constantly changing world, you no longer have the luxury of focusing on one thing at a time; you have to learn how to juggle multiple ideas.
Self-made billionaires maintain multiple ideas and perspectives, both big and small, at all times. Most people and companies will try to focus on one thing at a time to avoid complications. But others, like Bill Gates, achieve their success by operating in an environment of dualities, managing multiple ideas and actions simultaneously.
Bill Gates demonstrates not only the success of handling multiple ideas, but also of juggling multiple companies at the same time. It’s a little known fact that while running Microsoft, Gates also started Corbis, a photo and video licensing company, as well as Cascade Investment, a holding and investment company.
This mindset of embracing duality, of juggling different ideas and investments at the same time, are common among producers. These are people who have a clear vision and bring innovative ideas to the table. Producers can unite the right kinds of people and know how to use all their resources to their advantage.
On the other side of coin are the performers. These are talented and highly specialized people who excel in a specific field.
We can look at Lynda and Stewart Resnick, the couple behind the successful juice company POM Wonderful, as an example of how producers and performers work together successfully.
Lynda is a natural born producer who brought together all her skills to identify a great product and create the right marketing strategy to sell it. Stewart is the performer who balances the budget and oversees the company’s operations and finances. This way, Stewart can keep Lynda in check if she goes overboard in the creative department and can make sure the company continues to make a profit.
Rather than focusing on one idea at a time, self-made billionaires embrace the power of duality. The following blinks will reveal the five most important dualities.
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What is The Self-Made Billionaire Effect about?
The Self-Made Billionaire Effect (2014) reveals the secrets behind the world’s most successful companies and entrepreneurs. These blinks show that it isn’t luck, age or external factors that got some of the world’s wealthiest people where they are today. Find out how self-made billionaires became masters of duality by integrating imagination and design, and juggling opposing ideas.
The Self-Made Billionaire Effect Review
The Self-Made Billionaire Effect (2014) explores the traits and behaviors of those who have achieved extraordinary success. Here's why this book is worth reading:
- It provides insightful interviews with self-made billionaires, giving readers a glimpse into their strategies and mindset.
- The book offers practical steps and actionable advice for aspiring entrepreneurs, making it a valuable resource for anyone looking to achieve their own success.
- With its fascinating case studies and engaging storytelling, the book keeps readers hooked, ensuring an enjoyable and enlightening read.
Best quote from The Self-Made Billionaire Effect
Most successful entrepreneurs dont begin with brilliant ideas – they discover them.
—John Sviokla and Mitch Cohen
Who should read The Self-Made Billionaire Effect?
- Entrepreneurs looking for fresh ideas and perspectives
- Anyone interested in billionaire success stories
- People looking for successful business tips
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The Self-Made Billionaire Effect FAQs
What is the main message of The Self-Made Billionaire Effect?
The main message of The Self-Made Billionaire Effect is understanding the key factors that contribute to the success of self-made billionaires.
How long does it take to read The Self-Made Billionaire Effect?
The reading time for The Self-Made Billionaire Effect varies depending on the reader's speed, but it typically takes several hours. However, the Blinkist summary can be read in just 15 minutes.
Is The Self-Made Billionaire Effect a good book? Is it worth reading?
The Self-Made Billionaire Effect is a worthwhile read for anyone interested in learning about the strategies and mindsets of self-made billionaires.
Who is the author of The Self-Made Billionaire Effect?
The authors of The Self-Made Billionaire Effect are John Sviokla and Mitch Cohen.
What to read after The Self-Made Billionaire Effect?
If you're wondering what to read next after The Self-Made Billionaire Effect, here are some recommendations we suggest:
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- Adaptive Markets by Andrew W. Lo
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