Posted By Randy Jones on August 18, 2009
Commandment #5, “Wake Up Early—Be Early,” means making the most of the time you’ve got. That means starting your career early, starting your day early—and showing up for your meetings early. Fully 98 percent of the RMITs cited the ability to show up, and show up on time, as integral to their success. I saw this first-hand: Dennis Albaugh, famous within his company for saying, “Nothing is beneath me or beyond me,” was a typical example. When we set a phone appointment for our first interview, he called two minutes early. He respects his time and he respects the time of others. And having wrangled multiple interviews with a hundred RMITs in the course of researching and writing The Richest Man in Town, I can tell you emphatically—I really, really respect that. Perhaps the most important lesson to be taken from the fifth commandment is this: Your time is precious—and so is everybody else’s.
Category: #5: Wake Up Early, The Richest Man in Town book, The Twelve Commandments |
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Tags: Dennis Albaugh, Guha Bala, Karthik Bala, time, Vicarious Visions
Posted By Randy Jones on August 11, 2009
Every morning in my youth, my late father used to wake me by saying, “Get up, boy—you can’t make a crop lying in bed!” As a father now myself, I rouse my sons with the same saying. My parents instilled the importance of hard work in me from an early age, and it’s one of the most powerful advantages they could have given me. Virtually every RMIT told me that the biggest factor in their success was neither education—only ten of the 100 RMITs attended an Ivy League school, three dropped out of college (including Bill Gates), one went to community college, and fourteen didn’t go to college at all—nor a secure financial basis to start a business. The biggest success factor they all pointed to was the fact that they started early and hit the ground running.
Category: #5: Wake Up Early, The Richest Man in Town book, The Twelve Commandments |
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Tags: Bill Gates, George Valliant, Harvard University, Thomas Jefferson, work ethic
Posted By Randy Jones on July 28, 2009
In my last post, I said that addiction to ambition is a good thing: Find your perfect pitch, a great idea, believe in yourself, and work, work, work. That’s all well and good, but it can’t be that simple, can it? What if you don’t have that brilliant, category-killing idea? Not all of us can be business geniuses. David Rubenstein, who became the richest man in the nation’s capital through his investments in private equity, is widely considered one of the smartest people in Washington. Not so, he told me: “When you get older in life, you realize there are very few geniuses in this world. Most likely, you will never meet one, and Randy, you did not meet one today.” Rubenstein is certainly no dummy, but just as there are brilliant successes who are less than brilliant, there are also plenty of smart, unsuccessful people. Brains is part of the equation, but it’s not the determining factor in becoming an RMIT.
Category: #4: Get Addicted to Ambition, Business and Entrepreneurship, The Richest Man in Town book, The Twelve Commandments |
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Tags: ambition addiction, Blockbuster Video, Bob Garren, D.C., David Rubenstein, Florida, Fort Lauderdale, genius, persistence, Washington, Wayne Huizenga, Woody Allen, work ethic
Posted By Randy Jones on July 24, 2009
In my last post, I wrote about the dangers of dependency: the narcotic effects of a regular paycheck and the false sense of security that comes from working for a corporation. Many RMITs never allowed themselves to get cornered in a corner office, embarking on an independent career right out of school (or during, or before). The best way to kick the habit, of course, is never to start. I found that those RMITs who did spend time in a gilded cubicle, however, looked at the experience in one of two ways: Some saw a stint in corporate life as an apprenticeship (or sometimes as indentured servitude)—an opportunity to learn everything they could. Others hit bottom, and found they just couldn’t go on putting all of their ideas and energy toward someone else’s vision. Some of these, like Bernard Jacobs, who cofounded Home Depot after he was fired from his job with the Handy Dan hardware chain, were forced to go cold turkey. But all of these recovering salary junkies told me something unexpected. What I’m about to say will sound counterintuitive at best, plain crazy at worst: Addiction is a good thing.
Category: #4: Get Addicted to Ambition, Business and Entrepreneurship, The Richest Man in Town book, The Twelve Commandments |
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Tags: addiction, ambition, Bernard Jacobs, Burt’s Bees, Gary Tharaldson, Home Depot, Roxanne Quimby
