Success Tips from a Billionaire

Your life ultimately becomes what you think it will be.

Kazuo Inamori, the Japanese entrepreneur who founded two multi-billion dollar companies and rescued another, is known for his management philosophy.

Here are five of his ideas.

1. Question your motive

• Serving one’s own interests in business is never enough: the motive has to be good for others as well.

2. Adhere to perfection

• Being 99% successful isn’t enough when planning products/ services. Demanding perfection of yourself every day is difficult, but once you get used to it, “you can easily live that way.” This results in what he calls “sharp” products, or work that is refined and precise.

3. Conceive optimistically, plan pessimistically

• When developing a new product, starting off with a dream is important to success. Once the planning stage begins, you must “become a pessimist” in order to recognize every possible difficulty. Then it’s back to optimism for the execution.

4. Attitude x effort x ability

• This is Inamori’s formula for calculating the results of someone’s life or work. It’s an insight into why he values character and personality when picking leaders, rather than just choosing the people with the most ability. In his view, effort and aptitude won’t be enough if you don’t have the right attitude.

5. Set goals beyond your abilities

• With positive thinking, your life ultimately becomes what you think it will be.

• In business, this translates into believing you will learn to do things you can’t currently manage. Choose a goal you can’t achieve today, set a deadline by which you will do so, and then work harder than anyone else, he says.

List of the 10 Richest People in the World

• Jeff Bezos. ...Responsible for the growth of online shopping and e-commerce, Jeff Bezos made his fortune by founding Amazon.com. ...

• Bill Gates. ... is an American business magnate, investor, author, philanthropist, and co-founder of the Microsoft Corporation

• Amancio Ortega. ... He is the founder and former chairman of Inditex fashion group, best known for its chain of Zara clothing.

• Warren Buffett. ... is an American business magnate, investor, and philanthropist.

• Mark Zuckerberg. ... is an American computer programmer and Internet entrepreneur. He is a co-founder of Facebook, and currently, operates as its chairman

• Carlos Slim Helu. ... is a Mexican business magnate, investor, and philanthropist.

• Larry Ellison. ... is an American businessman, entrepreneur, and philanthropist who is co-founder, executive chairman and chief technology officer of Oracle Corporation

• Michael Bloomberg.... is an American businessman, author, politician, and philanthropist

Food for thought --- Six out of ten of China's richest were in the technology sector.

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