Michael Bloomberg was born on February 14, 1942 in a Jewish family. He is the founder and CEO of Bloomberg. Currently, they have a fortune of more than 59 billion dollars, which makes him the #24 richest man in the world (November 2021), and that is why we bring some advice from Michael Bloomberg for entrepreneurs.
Apart from his business facet, he has a political side; he was mayor of New York for three terms; from January 1, 2002 to December 31, 2013.
Your life is a show of success and here are some tips from Michael Bloomberg to achieve success.
Advice from Michael Bloomberg for entrepreneurs.
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Focus on the people.
People want recognition and respect; giving it all works better. At Bloomberg, business cards don’t have title on them, not even the CEO’s!
Bloomberg argues that hierarchies must exist to avoid chaos; but it is not necessary to remind people that they are below or above someone else.
The organizational structure does not prevent you from shaking hands with security employees. On the contrary, he maintains that they must be given importance; since without them, the others could not do their work.
Also read: How to keep your work team motivated.
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Share the credit.
It’s the smartest thing we can do. By giving credit to team members for some progress or goal achieved; we gain respect for our humility and strengthen the professional bond with the people who collaborate with us.
Bloomberg claims that the more we focus on “me, me, me” and “me, me, me”; Others simply lose respect for us and that is something that does not favor anyone.
If you want to know how to form the best work team, click here.
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Delegate.
Not delegating is one of the main causes of failure of companies and governments; says Bloomberg. To the extent that we want a company that works 24/7, we leaders cannot make everything happen through our hands. Wanting to centralize everything is a mistake!
Also read: How to delegate according to the great book the 7 habits of highly effective people.
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get ready.
We can graduate from college, go to university, study for a master’s degree and then a doctorate; but that is not the preparation that Bloomberg suggests. The question is that we can have a life project, for example 10 years, and everything we plan does not turn out as expected.
It even ensures that the probability that the plan will be fulfilled as planned is less than 10%. Since we do not know when we will succeed or when we will fail. We don’t know what opportunities we can seize. We also don’t know how our guilds will change…we don’t know many things.
So it’s better to be prepared. And one of the ways to be, is learning to save.
Bloomberg also recommends preparation in how to best interact with people; how to deal with problems; and how to get involved in the areas you need to learn. In addition to other realities that we must understand to make the best use of our lives.
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Control what you can control.
To achieve success we must be in control of the variables that we can control; like how so…
- Hard we work.
- we are honest
- We have a good relationship with others.
Only in this way can we counteract variables outside of our control; like luck and the qualities that God gave us.
Also read: 20 Steve Jobs phrases that will completely change the way you work.
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Find the reason.
Bloomberg is an electrical engineer and it was thanks to his past surrounded by “science” that he understood that things have a reason for being. They are not just because yes.
He advises not to fall into the easy way of believing in things simply because the majority does; or because they say so on the radio or TV. Instead, we should take some time, relax, and ask why.
Conclusion.
Much of Michael Bloomberg’s advice focuses on treating others. This reflects a collaborative business culture; which is key to success.
If we focus on growing as people and professionals, along with those around us; this creates a common goal. And therefore, it will make it reach faster and better.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
