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Donald Trump

Donald Trump and the Titanic

Donald Trump & Titanic
Donald Trump and the Titanic: What do they have in common? Click PLAY to hear George & Mary-Lynn share the surprising answer on The BIGG Success Show podcast.

Donald Trump gets our vote for the best personal brander ever. Of course, the Titanic is the most noted shipwreck of all time.

What do they have in common? Our answer may surprise you.

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Rules for Successful Entrepreneurship: Lessons from 5 Leaders

5 lessons from leaders for BIGG SuccessBillionaire entrepreneurs are a breed apart. They got to where they are today through hard work, quick thinking, good instincts, and trial and error decision-making. But in their journey, they made a right decision along the way, or met a crucial mentor or pursued a certain vision. By doing this, they turned a business idea from a gut feeling into a billion dollar company.

GoDaddy, Go!

Bob Parsons is the founder of GoDaddy, one of the country’s largest web registrars. In a summer 2012 article, Parsons listed his 16 tips for survival. Two of the most memorable of them are closely related and serve well to list both here:

  • “Almost nothing works the first time it’s attempted. Just because what you’re doing does not seem to be working, doesn’t mean it won’t work. It just means that it might not work the way you’re doing it. If it was easy, everyone would be doing it, and you wouldn’t have an opportunity.”
  • “There’s an old Chinese saying that I just love, and I believe it is so true. It goes like this: “The temptation to quit will be greatest just before you are about to succeed.”

Keep It Simple

A new book on the late Steve Jobs, Apple’s co-founder, describes his tenacity to trim back and keep things simple. In Insanely Simple: The Obsession that Drives Apple’s Success, author and Jobs’ former creative partner Ken Segall wrote that Jobs used simplicity as his secret weapon.

“Simplicity means products (Apple II, the Macintosh, iPod) that consumers not only understand, but bond with right out of the box,” wrote Segall. “Throughout Jobs’ career, it meant “insanely great” innovations such as human-oriented design, graphical computer interface vs. the dark mysteries of MSDOS, one button instead of two. He elevated usability to an art, and elegant design to a competitive advantage.”

Mr. Trump

Real estate mogul and TV personality Donald Trump has been well-quoted on his ideas of leadership success. His is a story of American success via hard work and a dose of celebrity and New York braggadocio, not a bad combination when you think about it. Some of his key success tenets include:

If you love what you do, you will work harder. You will enjoy your business and your life. You will spend the time to know your business inside out. You can brag about what you are going to do but if you do not bring the goods to the table, you will be knocked down.

High Fliers

One of the modern era’s most driven entrepreneurs must be Sir Richard Branson, who has charged his business ideals with personal adventure habits that have included skydiving, ballooning and sailing adventures. Richard Branson outlined his top five business principles in a BBC radio interview:

  1. If you don’t enjoy it, don’t do it. You must love what you do.
  2. Create something different that will stand out.
  3. Your employees are your best asset. Happy employees make for happy customers.
  4. Lead by listening: Get feedback from your staff and customers on a regular basis.
  5. Market the company and its offers by putting yourself or a senior person in front of the cameras.

And lastly, one of the greatest investors of our time Warren Buffet once compiled his list of ten winning rules. They are all worth reading, but the first rule is valuable to all of us. “Reinvest Your Profits – When you first make money, you may be tempted to spend it. Don’t.  Instead, reinvest the profits.” Buffett started reinvesting profits early on from a pinball business, and soon enough, was able to reinvest in stocks and start other businesses, eventually running the massive Berkshire Hathaway.

Author Bio
Jennifer Lewis writes about social networking and business, especially as they relate to education. She lives in the New England area and loves all snow-related sports.

Simply Living Simply

simple_houseBigg success is life on your own terms. Today we’ll focus on money, one of the five elements of bigg success. There’s a tendency to define bigg success as having more money.

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But is it possible to have too much money?

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georgeI remember Donald Trump being asked about the difference between $70 million and $700 million. He said, “A bigger boat.”

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marylynn
Some people don’t need a bigger boat. Other people don’t need a boat at all!

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georgeThat reminds me of something one of my mentors once said, “There are two good days in the life of a boat owner. The day you buy it and the day you sell it!”

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marylynnToys are the fun side of money. It’s the side we usually think about. But more money also means more responsibilities – more legal issues, more accounting hassles, more management headaches even if it’s just managing your portfolio.

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A lot of people think you can just hire someone to do those things for you, but you have to be careful how much you delegate. No one will look out for your money like you will.

A simple choice

While our society often seems to equate bigg success with bigg money, it’s important to determine what you want. Bigg success is life on your own terms. Live the life that makes you the happiest.

For some people, there is such a thing as too much money. They choose a different path to bigg success.

We can reduce this to a simple choice:

  • adjust your lifestyle to your wealth or …
  • … accumulate enough wealth to support your lifestyle.

Now don’t think it’s a rags or riches mentality. You don’t have to live like a pauper if you choose to adjust your lifestyle.

Many people are perfectly content simply living simply, but comfortably. They have a nice house, drive nice cars, and take nice vacations. Of course, you get to define nice.
 

Simply pick your number

Let’s look at the difference between these two choices. First, let’s say you can live life on your own terms with an income of $100,000 a year. Financial planners tell us we can draw down our portfolio at the rate of 4% a year when we retire. So that means you would need $2.5 million of assets to support your lifestyle.

Now, what would it take if you wanted to live large? We hear a $250,000 a year income is now considered “rich” here in the States. So let’s use that as the magic number.

Then you would need a portfolio of $6.25 million.

Quite a difference, huh? You don’t have to stress about accumulating such a large portfolio if you adjust your lifestyle to your wealth.

Some people enjoy a higher quality of life by choosing to simply live simply yet comfortably.

They worry about money less because they have less money.

It’s life on your own terms. You pick the path that makes you the happiest. That’s bigg success!

What about you? Are you happy living simply or do you want to accumulate wealth?

Share that with us by leaving a comment below, calling us at 888.455.BIGG (2444) or e-mailing us at bigginfo@biggsuccess.com.

Thanks so much for simply spending your time with us today!

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Would you like more tips and tools to live your life on your own terms?
Subscribe to the Bigg Success Weekly – it’s FREE!

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Please join us next time when we’ll talk about the one-minute layoff. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00436-071409.mp3

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(Image in today's post by ba1969)

When Your Definition of Success Changes

questioning_terms.jpgBigg success is life on your own terms. That’s how we define it. We were talking a few days ago …

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marylynnI said that we should make something clear about life on your own terms. I could be going through a mid-life crisis. Does life on my own terms mean getting a fancy new sports car, spending money like crazy, going clubbing, shirking my responsibilities, and walking away from relationships, all in an attempt to get my youth back?

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Life on your own terms is not a license for poor behavior

In fact, it’s quite the opposite. It should be an ideal that we strive to live up to. It’s about finding our purpose for being here and then deploying all of our resources to live up to that promise.

Because of that, it’s not a selfish thing. We can’t reach bigg success without the help of others. In this age of interdependence, we are able to live our lives on our own terms by helping others live their lives on their own terms.

Life on your own terms is also not a passing fancy

It’s a direction, not a point. It’s very emotional because it is so personal, but it’s not based on one’s feelings at this moment.

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georgeI may feel depressed right now. Does that mean life on my own terms means being depressed? Of course not.

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marylynnFeeling down from time to time is something we all experience, but we have to respond to it, not just accept it or give in to it. Going to the mid-life crisis example, maybe I’m not feeling as young as I used to. Is the answer really to blow a bunch of money and waste a lot of time?

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georgeBigg goal-getters accept that there are some things that we can’t change. No amount of money is going to make me any younger physically. We recognize the realities of our situation and respond positively to keep moving toward our bigg goals – where we want to go, what we want to achieve, who we want to be known as.

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Each day we write another page of our autobiography. We show the world who we are by how we live our lives.

Life on your own terms is dynamic, not static

While it’s not a passing fancy, it does evolve over time as we discover more about ourselves and the world around us.

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georgeI remember when I was in my early twenties – life on my own terms then meant being in the Forbes 400. I wanted to get rich in my own business. Then I heard Donald Trump asked about the difference between $70 million and $700 million. He said, “A bigger boat.” I realized then that I didn’t need a bigger boat!

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marylynn
So how did that change your terms?

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georgeI decided it wasn’t worth my time to work that hard to make the extra money. If all I was going to get out of it was a bigger boat, I wasn’t interested. Don’t get me wrong; money still helps! But life on my own terms evolved to building quality relationships and sharing experiences.

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marylynn
Your desire to own your own business didn’t change?

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george
Oh no, that desire definitely stayed the same.

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marylynnSo life on your own terms changed as a result of this new information. You realized there were more important things to you than the money you thought you wanted. But you still wanted to be in business for yourself.

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georgeYou may decide that less is more like I did. Or you may realize that you’ve been selling yourself short and you want more.

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It’s life on your own terms. It’s not a license for poor behavior. It’s not a passing fancy. But it is dynamic; it may change over time as you gain knowledge about yourself and your environment.

How has your definition of life on your own terms changed over time?

Share that with us by leaving a comment below, calling us at 888.455.BIGG or sending us an e-mail at bigginfo@biggsuccess.com.

Thank you so much for reading our post today!

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Would you like more tips and tools to live your life on your own terms?
Subscribe to the Bigg Success Weekly – it’s FREE!

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New research shows that a promotion may be good for your wealth, but not necessarily your health. Please join us next time to find out why.

Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00373-041509.mp3

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(Image in today's post by svilen001)

Can We Talk You Out of Owning Your Own Business?

questions Intuit, the makers of QuickBooks software, conducted a study of working adults [doc] not long ago. They found that 67 percent think about quitting their jobs regularly or constantly, while 72 percent said they want to start their own business. The number one reason cited for this was to be more passionate about their work.

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The participants were asked who inspired them: Donald Trump (38%) and Hugh Hefner (34%) were the top choices for men; Oprah Winfrey received 66% of the women’s vote.

That response made us think – there are misperceptions of what it means to own a business; what an entrepreneur faces day-to-day. There’s the Hollywood version, but it often doesn’t reflect the real world.

5 common myths about owning your own business


#1 – I won’t have to answer to a boss.

While technically true, it’s not accurate in practice. The reality is that, as a business owner, you answer to every customer by you and your firm. You answer to your banker if you borrow money. The government will require you to do certain things by certain times. As a business owner, you won’t have a boss; you’ll have many bosses!

#2 – I set my own hours.
You’ve probably seen or heard the ads. Just buy this business opportunity – you’ll hardly have to work and the money will just pour in. If only it worked that way! You may enjoy a great deal of flexibility as a business owner. However, you’ll probably work more than you ever imagined, especially in the early stages of your business.

#3 – I can get my employees to do the grunt work.
Many new business owners – formerly part of the corporate world – have trouble adjusting to the lack of resources that are inherent in many start-ups. They were used to having “people” who did certain things. Start-ups can’t afford extra people; many can’t afford people at all! You’ll have to get used to doing a lot of things, if not everything, yourself, even the dirty work.

#4 – I’ll make more money.

Start-ups consume money; there often isn’t much to spare. You may not get a regular paycheck at first. You’ll have to build up the business to afford that “luxury”.

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georgeWhen I was younger, I couldn’t find anyone willing to pay me what I thought I was worth. So I started my own business … I quickly realized that I couldn’t afford to pay me what I thought I was worth!

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#5 – I’ll have less stress than I do with my job.

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marylynn As a first-time entrepreneur, I’ve learned that stress hits from many angles – clients with deadlines, so much work to get done, and worries when things don’t go as planned. I’ve learned to be much tougher mentally and emotionally.

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All of this reminds us of Jackson Browne’s song, The Load Out …“They’re the first to come, and the last to leave, working for that minimum wage.”

In the song, he’s talking about roadies. But we wonder … couldn’t he be describing start-up entrepreneurs?

When your business is in the start-up phase, it’s like a newborn baby. You have to nurture it and care for it until it reaches the point where it doesn’t need you so much anymore. Prepare yourself for a five-year horizon before you start.

If starting a business doesn’t sound so good anymore, we feel like we’ve done our job. You won’t face the financial, and more importantly, the emotional turmoil that comes with a start-up.

However, if you’re now more determined than ever to start a business, you’ve passed a critical test. You can’t be talked out of it. You’ve peered beyond the popular and romantic view of business ownership. You’re starting to see it as it really is. You’re ready to become an entrepreneur!

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

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Next time, we’ll discuss the art of knowing yourself. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

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