on 05 Apr 2017 1:02 PM
Tags:
  • business reluctance
  • personality and mindset
  • successphobia
  • beliefs
  • self
  • business acumen
Author: Ram V. Iyer

Here is the self-view, beliefs, status and outlook of a real billionaire who took our 'Are you wired for business success?' quiz.  How do you compare?

We currently have a quiz on the Business Thinking website about the self-view, beliefs, status and outlook of people in business.  We have had 150+ people responses to this 3-minute quiz up until.  Over 25 of the quiz takers are millionaires; one is a billionaire (I’ll call him Mr. B) who received one of the highest scores on the quiz.  I wanted to find out more about him so I could understand how he may have become so successful.  He is still in his early 50s (yes, I know him).  

Here are two charts with his self-view, beliefs about money, business and the future he looks ahead to.  If you want to know how you compare, you can take the quiz at http://businessthinking.com/quiz/are-you-wired-for-business-success

If you want some commentary as I’ve looked at the 150+ other responses, here are seven things that stood out in my mind:

  1. Mr. B grew up believing that hard work would help him earn a lot of money and he could personally make a lot of money.  This is in sharp contrast to many others who believe that money is impossible to make or that the system is stacked or conspiring against them. 
  2. Mr. B has a positive view of business and business people.  He definitely sees it as a path to generating a high income that will provide a better standard of living than his parents (higher aspirations).  He was not looking for a handout or feel inadequate in his capability to make money.
  3. While Mr. B has a lot of money, he obviously enjoys business as a profession and wants to grow (professionally) and continue to make more money.  I do not interpret this as greed but rather as a love for business.  I know that he is involved in many non-profit activities and contributes his time and money.  He is also humble and very easy to talk too.
  4. Mr. B has a positive self-image (he did not choose other answers in the quiz that could indicate a negative self-image).  He also believes that he is predisposed to be (successful) in business.  He did not choose the option of wanting to become ‘filthy rich’, instead choosing the answer that he wanted to figure out how to solve the problems in the marketplace and monetize the solutions he developed for them – did not expect ‘money for nothing’ or ‘get rich quick’, which were also options. 
  5. Mr. B runs a successful business and has good business acumen – the different parts of the business and how they work together to make money for him.  Many people in business either ignore or lack understanding of how the business makes money.  Notice also that he acknowledges his deficiencies (and has recruited others to fill those gaps) in certain parts of the business, but then again, he has good business acumen about how to monitor even his ‘blind spots’.
  6. Business instincts are developed with experience (think making mistakes and failures).  Mr. B feels confident enough about his business instincts to claim to have the ‘Midas touch’.
  7. One neat thing among his response was about the fact that while he used to work hard, he now has people and systems running the business.  Smart business people understand the concept of ‘Time Really is Money’(read the book by Rob Slee on this topic) and focus on the highest value activities they can engage in.  On the contrary, we had dozens of people who were complaining about the number of hours they were putting into the business and some even saying that they couldn’t wait to get rid of the business.  Business is supposed to be an enjoyable profession that creates wealth.  Mr. B has figured that out and is living it. 

Take the quiz and figure out how you are doing on the path to your billion or millions or whatever goal you have.  Along the way, take a look at the business success factors at www.businessthinking.com/knowledge/business-success-factors.

If you want to know how you compare, you can take the quiz at http://businessthinking.com/quiz/are-you-wired-for-business-success.  If you have friends and colleagues who are curious, please share this link with them as well.  We will share aggregate results as more people from around the world take the quiz.