The Keys to Success

| October 21, 2009

It’s all too easy for budding entrepreneurs to be seduced by a sexy idea or industry. The prospect of becoming a real estate mogul or Wall Street pasha conjures up visions of money and power that are hard to resist, but as I found out in researching The Richest Man in Town, more often than not it’s not the big, goldplated idea that turns out to be a winner.

Benevolent Dictators

| July 6, 2009

Over this Independence Day weekend, I was thinking about how one of our defining traits as Americans is our strong emphasis on the individual. I’ve written about the benefits of partnering with someone who complements your perfect pitch so that you can be free to play to your strengths. Dennis Albaugh, the richest man in Des Moines, Iowa, told me, “I have always hired people who are smarter than I am.” I heard this refrain from virtually every RMIT I interviewed: selecting the right team, the right employees, and the best advisers is essential to their success. But make no mistake—there can only be one king.