By Alex Charfen
Principle 1: Simplicity of Purpose
Billionaires are billionaires because when they went about building an empire, they were hyper-focused on a specific objective. All their effort and energy was dedicated to pursuing that clearly defined purpose. For example:
Henry Ford wanted to democratize the automobile—to make it available to everyone.
Bill Gates wanted to put a PC inside every home in America.
Steve Jobs wanted to put the power of a computer inside a phone (and make it painfully easy to use).
When we look at the whole of these goals, they seem massive, imposing, and yet they can all be stated in a single, easy-to-understand sentence.
Principle 2: Simplicity of Plan
Billionaires are not known for having highly detailed, highly elaborate plans.
Herb Kelleher, founder of the legendary low-cost people-mover Southwest Airlines, didn’t use complicated numbers or ingenious technical secrets to turn the airline industry on its head. His plan for Southwest followed three tenets:
Get the wheels up and get the wheels down.
Embrace being the “low-cost” airline.
These painfully simple tenets are the foundation of the most profitable airline in the history of the aviation industry. Keeping things simple helps all employees—not just key leaders—focus on the activities that will be most impactful to the success of the company.
Principle 3: Limit What You Tolerate
Billionaires limit what they tolerate—it sounds callous but it’s actually brilliant.
Billionaires don’t cultivate success from their wants; they extract it from the world by limiting what they’ll tolerate.
They don’t tolerate incompetent or unhelpful people.
They don’t tolerate an absence of results.
They don’t tolerate social pressures—they’re willing to embrace the isolation, solitude and suffering it takes to build something truly great.
Billionaires are the 1 percent of people who tolerate what 99 percent of us avoid, and generally avoid what 99 percent of us tolerate. They are constantly optimizing their lives. They are asking themselves on a daily basis, Where’s the operational drag in my life? What can I get rid of today to make tomorrow better?
Billionaires identify and purge without hesitation—that’s why they’re creating the greatest outcomes in the world.
Principle 4: Absolute Reliance on People
Billionaires don’t just occasionally lean on other people; they absolutely rely on them to make it through each day. From personal assistants to the members of the board, billionaires cultivate fantastic professional relationships so they can rely on them when they need it most.
Here’s why: No single individual could create the leverage and momentum necessary to create billions of dollars in value. It’s the 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.
Principle 5: Absolute Dedication to People
Due, in part, to their reliance on other people, billionaires are also obsessively dedicated to people; this includes customers and investors, but especially employees and their close teams.
This 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 it’s all ultimately about people.
Bill Gates, feared early in his career for his fierce temper, learned to become a strong and valued mentor for top leaders at Microsoft.
Warren Buffett 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 when it comes to the people who create leverage for billionaires, this dedication is absolute and unshakable. The important people in a billionaire’s life—from founding partners to their assistants—are always taken care of and usually asked to stay involved in their lives for a long time.
Related: 8 Traits of Healthy Relationships
Principle 6: Rely on Communications Systems
Everyone knows that for your business to succeed, clear communication is essential. But over the years, I’ve had the chance to meet with many successful entrepreneurs and most of them share a surprising trait: They have trouble communicating. In fact, billionaires, the most successful entrepreneurs, tend to have the greatest difficulty.
But they succeed because they rely exclusively on communications systems, not their own communications skills. All billionaires create ways to accurately track progress, measure results and optimize performance. They understand the importance of being able to gain perspective through context, and they use systematic communication methods that are consistent and reliable.
By doing this, they can fill in the gaps where their own abilities are lacking, and create momentum.
Principle 7: Require Push Communications
I can’t state this clearly enough: Billionaires require push communications.
They don’t wait around for someone to communicate with them. They don’t go around seeking the information they need, researching their answers for hours. Billionaires expect their information to be curated, concise and delivered directly to them without having to ask. This is what they require from their teams.
People who are worth billions didn’t get that way by miring themselves with insignificant or impertinent information—they know exactly what they need to see and when they need to see it. The people who are responsible for creating momentum in a billionaire’s world are required to communicate this information without being asked. They are proactively pushing key information to the top of the to-do pile each and every day so the billionaire knows where to invest his time, energy, etc.
Principle 8: Be Intentional With What You Consume
Consumption in the absence of intention is waste.
Billionaires are incredibly intentional with their consumption of resources, and no resource is more thoughtfully consumed than information. Typically the information they need is relevant to a highly specific issue or decision. If there isn’t a need, billionaires tend to ignore the information.
If information isn’t moving you forward to where you want to be, it’s bogging you down. Billionaires know this, and you should, too.
Principle 9: Make Decisions Based on Data and Narrative
Billionaires don’t gamble—they make their decisions based on a blend of data and narrative. Why? Because they know the value of dual perspectives—one rooted in numbers and the other rooted in people.
If they relied solely on data, then a single mistake—a fudged number, an incorrectly recorded data point—could dramatically skew their ability to make the right decision. If they relied solely on narrative, their reasoning would be subject to swings in popularity or sentiment, and they’d be making decisions without anything objective backing it up.
Only by analyzing the data and having in-depth conversations with the right people can billionaires grasp enough of the picture to make a quality decision.
Principle 10: Be Proactively Transparent
Many people think of transparency as being a willingness to answer questions. But what separates billionaires from most people is their ability to be proactively transparent.
Billionaires proactively communicate with intention to avoid misunderstandings and eliminate any type of drag on their organization. They know that vague goals and an unclear purpose can stop momentum in its tracks, so they don’t wait for people to approach them with questions. They understand the importance of actively showing up and sharing what they need with the people around them.
Proactive transparency is vital because it ensures that teams understand outcomes and remain on the same page. It also increases confidence in leadership by eliminating any hint that something is being held back. A lack of transparency only increases pressure and noise for billionaires, and makes it difficult to create the outcomes they want.
No matter the experience or business size, the self-made billionaire’s framework includes lessons all entrepreneurs can integrate to build high-growth businesses… and build businesses around themselves.
Article Source: http://www.success.com/blog/the-10-principles-of-self-made-billionaires
NEW YORK – July 12, 2016 – As the fallout from Brexit continues to stir market volatility, many international investors seek the security and economic stability of the U.S. commercial real estate market. Coupled with low interest rates for loans, brokers who belong to the CCIM (Certified Commercial Investment Member) Institute are seeing an increase in global activity in commercial real estate investments from primary gateway cities to tertiary markets.
The CCIM Institute is one of the largest international networks of commercial real estate professionals.
"The trend of Foreign Direct Investment (FDI) net inflows of capital toward the U.S. commercial real estate market will remain strong and the Brexit initial ripple effect for demand in the U.S. will initially increase as investors seek security," says Kamil Homsi, CCIM, president of Global Realty Capital LLC in New York City. "Additionally, I see the demand increasing constantly to acquire senior and student housing, self-storage portfolios, and medical facilities across all regions."
Interest rates in the U.S. are likely to remain low, and U.S. benchmark yields hit record lows last week. According to the U.S. Department of the Treasury, the 30-year Treasury yield plunged to a record low of 2.098 percent before recovering to 2.12 percent. And the 10-year Treasury closed below 1.4 percent for the first time, falling to 1.367 percent.
The continuing European market uncertainty, declining British pound and strengthening of U.S. dollar make it less likely that the Federal Reserve will move rates up or take other tightening measures this year. That has far reaching implications for U.S. commercial real estate markets.
"Commercial office space is often the preferred investment for overseas investors," says Ernest Brown IV, CCIM, broker at Rohde Ottmers Siegel Realty in San Antonio, Texas. "But we also are seeing an increase in demand for well-located newer industrial assets for warehousing, distribution and service."
The historic stability and low volatility, even within the presence of low cap rate markets, will continue to drive foreign investment into the U.S. commercial real estate market. This will drive up prices and lower cap rates for commercial buildings in several cities according to Reis Analytics. Primary gateway cities including New York City, Los Angeles, San Francisco and Boston will see the most impact, but secondary and tertiary markets also stand to see increased activity because investors have yet to drive up prices.
"Shortly after Brexit, I received several calls from international investors seeking more information about Texas commercial real estate," says Jim Young, CCIM, broker at Longbow Real Estate Group in Austin, Texas. "In addition, several U.K. investors tell me that they see U.S. commercial real estate as a safe haven. Given low interest rates on commercial real estate loans and commercial rental rates in Central Texas that continue to rise, there will be even more of an uptick in European and global investor activity."
While some U.S. assets may be sold to shore up assets held in Great Britain and elsewhere by foreign investors, the long-term goal is the safety of the investment. Historically, foreign investors rarely take their capital out of the U.S. commercial real estate market unless there is a major drop in valuation within European gateway cities. This is unlikely due to limited available inventory, time needed and European Union exit tax complexities.
Brexit further complicates the matter with increased uncertainty.
"Investments in the U.S. will only get stronger as a result of these factors," says Eric Rutherford, CCIM, broker at Wright Kingdom in Boulder, Colo. "Individuals in the European market may take a risk and reinvest, but I just received word from a group of investors pouring $10 million into the U.S."
The U.S. has always been a safe haven for global investors. With the continued repercussions of Brexit yet to be fully realized, many foreign investors actively seek to reposition their assets to a stable economy. The increased activity in U.S. commercial real estate properties by global investors looks to continue.
© 2016 Florida Realtors®
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Often the greatest feats of engineering are the ones that seem easy, even imperceptible.
As when you take a high-performing sports car, remove the top, and find a way to achieve the same aggression, stiffness and wind efficiency in the new version. It’s a lot more complicated than just lopping off the roof. Physics and aerodynamics are complicated devils.
The engineers at Lamborghini have found a way to tame them, though, with the 2016 Lamborghini Huracan LP 610-4 Spyder. This is the drop-top version of the excellent coupe we saw last year; rather than making the car heavy or burdensome around corners, a common problem of convertibles, the alteration comes only as an improvement. The starting MSRP is $262,350; delivery and fees bring the number to $267,545, roughly on-par with competitors from Ferrari and Aston Martin and a bump more than the $238,500 coupe version.
When driving the beast, the open-air thrills run large. Lambo credits this to “redesigning every single element for the precise purpose of eliminating the roof.” It sounds like quite a process. Maybe even magic. I’m glad it paid off.
I drove the Huracan Spyder in Los Angeles traffic, through West Hollywood and Santa Monica, in the Malibu hills, and along the twisty Pacific Coast Highway. It is the most intense modern production car I’ve ever driven, equaled only by its siblings (Aventadors and Gallardos) and by a few halcyon afternoons spent piloting a Bugatti or two. That’s rare air.
From the moment you get behind the wheel — no, from the moment you see the car — your senses go into overdrive. Everything is heightened, super-sharp in focus, as when you walk alone through a dark alley. One errant sound, one blush of wind on your cheek, and you whip to action like an assassin ready to fight.
If you were, and you did, the Huracan Spyder would prove an apt weapon. Heck, it even looks like a weapon, a fighter jet whose edges along a taut body might as well have been carved by the wind itself. The Spyder has a short nose, dipped forward and down, set with deeply slanted headlamps that hold triangular LED lights. Turn the lights on and the car becomes an animal growling at you from the shadows.
The blackened front grille enhances the predator effect. Four big wheels, on 20-inch blade-style rims, are pushed all the way out to the corners of the car; a transparent engine bonnet is optional and preferred to better show off the car. It sits behind the front seats as a clear divider between the inside of the car and the rear trunk.
If you want, you can choose among a handful of colors on your ceramic brake calipers and a smattering of carbon fiber accents to augment the hybrid aluminum/carbon frame. The outer skin of the Huracan consists of lightweight aluminum and composite, too.
The real potency comes from what’s under the hood.
The Huracan Spyder has the same V10 602-horsepower engine as the hardtop version, with the same all-wheel drive on a seven-speed dual-clutch transmission. You can choose among three drive modes, plus launch control; use the paddle shifters, if you don’t like automatic, in changing gears. Sadly, there is no manual option.
Top speed here is 201 miles per hour, exactly the same as with the coupe with a 0-62 mph sprint time of 3.4 seconds. (The coupe does it in 3.2 seconds.) Lamborghini is particularly proud of these statistics, along with the fact that both cars share virtually the same drag coefficient for wind resistance.
Sure, driving over potholes is a drag. Slowing down sufficiently to handle them without damaging the rims, bumper or chassis tested my patience, and the lift-kit that raises the car nearly two inches only goes so far.
But once you get out to the road, once you make that final corner and see a stretch of highway open before you, you’re golden. The car is perfect. The steering might as well be linked directly to your brain in its precision. Braking is instantaneous. There’s no rolling around corners, no lumbering up hills trying to gather speed, no hesitation when you press the gas.
Then you come back to earth. You know how you’re actually safest flying fast and high in a jet rather than during takeoff and landing? Driving slow and idling in traffic is comparable for the Huracan Spyder. I’vementioned the excruciatingly low clearance. There’s also the lack of visibility (I pretty much gave up even attempting to look behind me — not a good thing) and a dearth of head space. The tiny, grainy rear-view camera doesn’t proffer much consolation.
Looking forward wasn’t good either: The bar across the top of the windshield aligned with my line of vision, prohibiting me from seeing any light-changes at intersections. I had to crouch and hunch my back to see stoplights.
There is a cup holder, if you buy one. (It costs an additional $600 as part of a travel package.) There is relatively little seat adjustment and no USB plug. If you want cruise control, it costs an additional $1,000.
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