Saturday, October 29, 2011

ABC 20-20: "Lessons from Billionaires"

ABC 20-20 presented a special “Lessons from Billionaires” as a response to the “Occupy Wall Street” movement, link here  

The moral lesson: create a product or service people really want.

The report started with the story of the creation of the Cirque de Soleil, by Guy Laliberth.  He gives a lot to projects to provide water in Africa.  He has remained a bachelor.  “Part of the risk-taking personality is the ability to overcome failure.”

Next she presented Lynn Titlton, who restructures failing companies.  At age 52, she owns 75 companies.  “If you want to sell it in America, you must make it in America.”  “Don’t do it for the money … follow your passion.”  Also, “we must put people back to work or we will have violence in the streets”.

Next Jean Paul De Joria told his story, of his rise from homelessness and abandonment by parents. He became a super salesman, saying you have to have as much enthusiasm on the 51st door as on the first, after many rejections.  De Joria eventually built a shampoo and cosmetic business.  But he believes you have become involved with people directly to help them find work.

Finally Barbara Walters presented Tony Hsieh of Zappos Shoes (selling shoes online). He makes his employees “happy” with lunches and full medical benefits (the management style resembles Google and Facebook as workplaces).   He has written a book called “Delivering Happiness”. Barbara asked him “Could you lose everything and be happy?”

Everyone "gives back". 

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