Now, I’m not asking you to pity them or create a Kickstarter campaign to lessen their suffering. But there’s an ongoing dialogue about how self-made billionaires amassed all of that money.
There’s speculation about how lucky they must be, and how they were just in the right place at the right time. There’s envy. There’s fear of their power. They’re often vilified for being in the top one-percent of the top one-percent, as if being successful is a negative and not something to aspire to.
Over the years, business coach and speaker Alex Charfen has had the good fortune to work with and counsel a number of self-made billionaires, and to get to really know them. As he worked with them and watched what they do on a daily basis, it was hard for him not to admire them.
And he learned this: From a distance, they may seem self-sufficient and cold, able to function alone in this world and get along quite nicely. But, here’s the truth: These people are fully aware that they can achieve nothing without their team.
It seems a bit ironic that their keys to billionaires’ success lie, at least in their own minds, in building a great team around them. Yes, they are driven and yes, they can be difficult to work with. But, in their heart of hearts they know what matters, and the best of them never forget it.
So in that light, here are the two things Alex has discovered that self-made billionaires cannot succeed without.
1. Their Absolute Reliance on People
All entrepreneurs need protection and support to thrive and achieve their visions. For many self-made billionaires, their teams are perhaps the first place they have ever found those things. Public school certainly didn’t provide it, with its rigid structure and rules that most often quash any entrepreneurial spirit. If they make it through the public school gauntlet at all, they are fortunate. Many do not. The ones who do, understand they absolutely must find people who can help them achieve their usually outsized vision. And they cannot rest until they do.
So, they launch their business and very carefully hire the people they can trust. Make no mistake: self-made billionaires don’t just occasionally lean on other people; they absolutely rely on them to make it through each day. From personal assistants to board members, to those who report to them on a daily basis, billionaires cultivate fantastic professional relationships so they can rely on them when they need it most.
Here’s why: They are fully aware that no single individual could create the leverage and momentum necessary to generate billions of dollars in value. It’s the self-made billionaire who asks for and offers protection and support, because they know that entrepreneurs accomplish almost nothing alone, and we all move forward faster together.
2. Their Absolute Dedication to People
It makes sense, right?
Self-made billionaires are also obsessively dedicated to their people, including customers and investors, but especially employees and their close teams. This is not to say that they are extroverts or “people” people. In fact, in most cases, it is just the opposite. The unrelenting drive of the self-made billionaire disqualifies most people from ever being asked into their inner circle. The average person cannot hope to keep up with them, and so they become the eye of the needle: only a very select group makes it through, and when they do, they become invaluable.
The self-made billionaire’s kind of obsession can manifest itself in a variety of ways–some billionaires are obsessed with creating the absolutely perfect product, some are obsessed with spreading success and wealth throughout the world–but accomplishing any of that is all ultimately about people.
Think Bill Gates, who was feared early in his career for his fierce temper, and then learned to become a strong and valued mentor for top leaders at Microsoft. Or, Warren Buffett, who created one of the greatest fortunes and business empires in history, but only after he recognized the need to develop great leaders and keep them close (and keep that group as small as possible).
The dedication to these people who create leverage for self-made billionaires is absolute and unshakable. The important people in their lives–from founding partners to their assistants–are always taken care of, and usually asked to stay involved in their lives for a long time.
So their solution is to build a team of talented and trustworthy individuals, and then make a critical transition in perspective, leaving behind the question “How do I get ahead?” in favor of a more valuable one:
“How do I help my team get ahead?”
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