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(Slideshow) Best Advice From Self-Made Millionaires

Top tips from the men and women who got it right.

Entrepreneur

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Richard Branson

richard-branson

Richard Branson

“To create a business you have to initially work day and night, weekends, it’s really hard work.” – Richard Branson

Sir Richard Branson is a British business magnate, best known as the founder and chairman of Virgin Group of more than 400 companies. Branson is the 4th richest citizen of the United Kingdom, according to the Forbes 2012 list of billionaires, with an estimated net worth of US$4.2 billion.

 

Michael Bloomberg

Michael Bloomberg

PC: huffpost.com

“In the end, luck plays a very important part in how successful you are, but the longer you work and the harder you work, the luckier you’re going to be.” – Michael Bloomberg

Michael Bloomberg is an American business magnate, politician and philanthropist. He is the 108th and current Mayor of New York City, having served three consecutive terms since his first election in 2002.

Related: 15 Wise Money Quotes From Millionaires And Billionaires

 

Mark Zuckerberg

Mark Zuckerberg

Mark Zuckerberg

“You’re going to make a ton of mistakes. It doesn’t matter, you don’t get judged by the mistakes, people don’t remember those years from now, they remember the things that you did that were good.” – Mark Zuckerberg

Mark Zuckerberg is an American computer programmer and Internet entrepreneur. He is best known as one of five co-founders of the social networking website Facebook. In 2013 his personal wealth was estimated to be US$13.3 billion.

 

Steve Jobs

Steven Jobs

Steven Jobs

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” ­ – Steve Jobs

Steven Jobs was an American entrepreneur and inventor, best known as the co-founder, chairman, and CEO of Apple Inc. This charismatic pioneer of the personal computer revolution passed away on 5 October 2011.

Related: Inspiration From 7 Legendary Business Titans

 

Oprah Winfrey

Oprah Winfrey

Oprah Winfrey

“What fear is stopping you in your tracks and burning the soles of your feet? What if conquering that fear, whatever it is, from keeps you from being what the Creator intended for you, what if you could unleash everything great in your life, would you do it? Would you say yes to that?” – Oprah Winfrey

Oprah Winfrey is an American media proprietor, talk show host, actress, producer, and philanthropist. Winfrey is best known for her self-titled, multi-award-winning talk show ‘The Oprah Winfrey Show’. She has been ranked the richest African-American of the 20th century.

 

Larry Ellison

Larry Ellison

PC: Huffpost.com

“To model yourself after Steve Jobs is like, ‘I’d like to paint like Picasso, what should I do? Should I use more red?’” – Larry Ellison

Larry Ellison, is one of the most outspoken personalities in the tech industry.He’s held the CEO role at Oracle since 1977. That makes him the longest-running tech CEO in Silicon Valley history.

Related: 15 Ways Millionaires Manage Their Money That Make Them Richer

 

Sheldon Adelson

Sheldon Adelson

Sheldon Adelson

For me, businesses are like buses. You stand on a corner and you don’t like where the first bus is going? Wait ten minutes and take another. Don’t like that one? They’ll just keep coming. There’s no end to buses or businesses. – Sheldon Adelson

Sheldon Adelson is an American business magnate. He is the chairman and chief executive officer of the Las Vegas Sands Corporation, the parent company of Venetian Macao Limited which operates The Venetian Resort Hotel Casino and the Sands Expo and Convention Center. He also owns the Israeli daily newspaper Israel HaYom. As of October 2012, Adelson is listed as the 24th richest person in the world with an estimated net worth of 21.8 billion. Previously, he was listed in the Forbes 400 as the 12th wealthiest American.

 

Warren Buffett

Warren Buffett

Warren Buffett

Price is what you pay, value is what you get. – Warren Buffet

Warren Buffett is an American business magnate, investor, and philanthropist. He is widely considered the most successful investor of the 20th century. Buffett is consistently ranked among the world’s wealthiest people. In 2012, American magazine Time named Buffett one of the most influential people in the world.

Buffett is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. He is also a notable philanthropist, having pledged to give away 99% of his fortune to philanthropic causes, primarily via the Gates Foundation.

Related: 6 Skills Of Self-Made Millionaires That You Should Be Using, Too

 

Robert Kiyosaki

Robert Kiyosaki

Robert Kiyosaki

If you are afraid of making mistakes, you will not want to do anything. – Robert Kiyosaki

Robert Kiyosaki is an American investor, businessman, self-help author, motivational speaker, financial literacy activist, and financial commentator. Kiyosaki is well known for his Rich Dad Poor Dad series of motivational books and other material published under the Rich Dad brand. He has written over 15 books which have combined sales of over 26 million copies.

4 Hour Workweek-Timothy Ferriss-Business Books Slideshow

Next Slideshow: Top 10 Self-Help Books of All Time

10 ‘have-to-read’ books if you are looking to further yourself in both life and business. Click Here

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Lessons Learnt

(Podcast) ‘Bizarre Foods’ Andrew Zimmern: ‘I’m Addicted To The Hustle’

How this week’s ‘How Success Happens’ guest overcame personal struggles and built an empire.

Dan Bova

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I didn’t know what to expect when we scheduled an interview over breakfast with today’s guest Andrew Zimmern. As you may know, the chef, writer, restaurateur and TV personality made a name for himself traveling the world and eating some, well, bizarre foods on his hit travel/food show, Bizarre Foods.

Turns out our breakfast was pretty normal – we didn’t dig into a fresh plate of scrambled brains or anything – but the conversation was anything but typical.

Over the past couple of years, Zimmern has built a true empire around his name with books, TV shows, restaurants (including his new Twin Cities joint Lucky Cricket), and a production company, but as he very candidly told me, the road to success has not been easy. He has gone through a lot of personal pain on his journey, and he says it is a daily endeavour to keep himself moving on the right track.

As Zimmern explained, over the course of his life, he’s had problems with substance abuse, depression – even homelessness – and he was very open about sharing the lessons he’s learned along the way about coping and finding redemption. We also spoke about his dear friend, Anthony Bourdain, and about the struggles of feeling overwhelmed that most of us face.

Related: Gareth Cliff Shares His Tips For Starting Your Very Own Podcast

But don’t get me wrong, he’s really funny, too! There’s nothing “normal” about Andrew Zimmern. Hope you’ll enjoy our conversation, thanks for listening.

This article was originally posted here on Entrepreneur.com.

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Lessons Learnt

How BrightRock Is Disrupting The Insurance Industry With These 2 Pivotal Strategies

Developments in technology, and clear communication are positioning BrightRock to disrupt their industry and transform the consumer experience.

Monique Verduyn

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Vital Stats

  • Players: Sean Hanlon, Leopold Malan, Schalk Malan, Suzanne Stevens
  • Company: BrightRock
  • Est: 2011
  • Visit: www.brightrock.co.za

BrightRock was started around a dining room table in 2011 by four people with years of industry experience and — importantly — a diverse set of complementary skills.  They wanted to make changes to an industry with an age-old methodology by allowing customers to co-create a solution that precisely meets their individual needs, and adjusts as those needs change. Today, BrightRock is the fastest-growing insurer in the intermediated individual life risk market. It also provides underwriting management services to funeral parlour businesses and, more recently, has entered the group risk insurance market, offering its needs-matched approach to employees.

The founders of BrightRock, established in 2011, knew the life insurance industry all too well, and they found its methodology wanting. “Traditional life insurance lumps all the individual’s needs into one policy,” says CEO Schalk Malan.

“It’s a methodology that has been around for centuries. We started afresh and looked at how we could design life insurance based on individual requirements. Our cover is designed to exactly match each specific financial need. Because there is no waste, it’s more cost efficient and sustainable. And if circumstances change and our customer needs more cover, it’s easy to get it because needs-matched design enables the policy to change in line with changing needs.”

1. Embracing digital technology to provide needs-matched insurance

Suzanne Stevens, marketing executive director at BrightRock, points out that this type of innovation achieves efficiency (cost savings) and effectiveness (higher returns). “By harnessing digital technology, we have made our operations more efficient, and aggressively lowered costs by up to 30% for our customers. Every rand they spend with us works harder for them. That’s the benefit of a solution designed around the customer.”

BrightRock’s founders took a similar approach. ‘We ditched legacy thinking in favour of creating a product that is intuitive and easy to navigate. An enormous amount of time and effort went into writing and designing that system, and creating the optimal customer journey.”

Related: How BrightRock Is Rocking The (Industry) Boat In Only 5 Years Since Launch

Unlike clunky legacy systems, BrightRock’s platform is modularised, and was built according to the agile principle of rapid delivery cycles. The result is a technology stack with longevity, that is also flexible enough to be tweaked when needed.

“The advantage of the technology available today is that you can plug things in and pull them out as required,” says Suzanne. “That’s one of the enablers of a truly disruptive mindset. To step away from accepted norms and find new solutions requires curiosity and creativity, as well as a lot of courage to go up against large incumbents in the market. There is always resistance to new technology, although we are fortunate in this country to have one of the most innovative insurance sectors in the world.”

2. Effective communication is critical

These disruptors have set themselves above the rest through one surprisingly simple tactic —  effective communication. They agree that it simply doesn’t matter how world-changing your product or service is if you don’t communicate it to the right audience at the right time. New companies that fail to communicate their remarkable new development will quickly be pushed aside by other disruptors. Without a clear communication strategy that reaches the audience in the industry you’re trying to disrupt, you’ll set yourself up for failure. A key question to ask when you are developing your communication strategy is simply whether people understand what you do.

“Because the premise for our product was fundamentally different from anything on the market, communication and clear messaging were critical to convincing our clients to put their trust in us,” says Schalk.

“It was especially important to educate insurance advisors so they would understand what we were doing, why we were doing it, and how it was better than the other options available. That was key to disrupting the individual life market.”

Currently, BrightRock employs 380 staff, has experienced 40% year-on-year growth, and has an annualised premium income of more than R1,3 billion. The company has recently entered the group risk environment with a similar offering that addresses many of the same shortcomings of traditional group risk products. “The inefficiencies of the structuring of group products has meant that, to remain competitive, insurers have cut the benefits offered to employees, undermining their sense of financial security. Change is needed, and we believe our needs-matched philosophy positions us to change the group risk market too.”

‘We ditched legacy thinking in favour of creating a product that is intuitive and easy to navigate. An enormous amount of time and effort went into writing and designing that system, and creating the optimal customer journey.”

Unlike clunky legacy systems, the BrightRock’s platform is modularised, and was built according to the agile principle of rapid delivery cycles. The result is a technology stack with longevity, that is also flexible enough to be tweaked when needed.

Related: BrightRock’s 5 Entrepreneurial Tips For Start-ups

This iterative, modular approach typically begins with defining the strategy and programme plan upfront, delivering a core capability fast so it can provide benefits immediately, and then continuously improving with regular, incremental capability improvements to achieve the objectives of the strategy. It’s an approach that fosters closer collaboration between stakeholders, improved transparency, earlier delivery, greater allowance for change and more focus on the business outcomes.

“The advantage of the technology available today is that you can plug things in and pull them out as required,” says Suzanne. “That’s one of the enablers of a truly disruptive mindset. To step away from accepted norms and find new solutions requires curiosity and creativity, as well as a lot of courage to go up against large incumbents in the market. There is always resistance to new technology, although we are fortunate in this country to have one of the most innovative insurance sectors in the world.”

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Lessons Learnt

The 9 Obsessions You Need To Have To Become A Self-Made Millionaire

Here’s how to stay focused on your millionaire goals.

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elon-musk

The ones who succeed weren’t handed a golden ticket; it wasn’t chance that helped them cultivate their fortune. To reach millionaire status, you must be driven to reach your dreams. You must be obsessed in order to be successful.

These are the nine obsessions that give every self-made millionaire an edge in creating success and wealth.

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