The SelfMade Billionaire Effect, John Sviokla
The SelfMade Billionaire Effect, John Sviokla
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The Self-Made Billionaire Effect
How Extreme Producers Create Massive Value

Author: John Sviokla, Mitch Cohen

Narrator: Erik Synnestvedt

Unabridged: 6 hr 17 min

Format: Digital Audiobook Download

Publisher: Ascent Audio

Published: 01/01/2015

Includes: Bonus Material Bonus Material Included


Synopsis

Imagine what Atari might have achieved if Steve Jobs had stayed there to develop the first massmarket personal computer. Or what Steve Case might have done for PepsiCo if he hadn’t left for a gaming start-up that eventually became AOL. What if Salomon Brothers had kept Michael Bloomberg, or Bear Stearns had exploited the inventive ideas of Stephen Ross?

Scores of top-tier entrepreneurs worked for established corporations before they struck out on their own and became self-made billionaires. People like Mark Cuban, John Paul DeJoria, Sara Blakely, and T. Boone Pickens all built businesses—in some cases, multiple businesses—that are among today’s most iconic brands. This fact raises two profound questions: Why couldn’t their former employers hang on to to these extraordinarily talented people? And why are most big companies unable to create as much new value as the world’s roughly 800 self-made billionaires?

John Sviokla and Mitch Cohen decided to look more closely at self-made billionaires because creating $1 billion or more in value is an incredible feat. Drawing on extensive research and interviews, the authors concluded that many of the myths perpetuated about billionaires are simply not true. These billionaires aren’t necessarily smarter, harder working, or luckier than their peers. They aren’t all prodigies, crossing the billionaire finish line in their twenties. Nor, most of the time, do they create something brand-new: More than 80 percent of the billionaires in the research sample earned their billions in highly competitive industries.

The key difference is what the authors call the “Producer” mind-set, in contrast with the far more pervasive “Performer” mind-set. Performers strive to excel in well-defined areas, and are important. But Producers are critical to any company looking to create massive value because they redefine what’s possible, rather than simply meeting preexisting goals and standards. Combining sound judgment with imaginative vision, Producers think up entirely new products, services, strategies, and business models.

Big companies tend to reward Performers and discourage the unconventional ways of Producers. But it’s the latter who integrate multiple ideas, perspectives, and actions, and who trust their insights enough to make game-changing bets.

This book breaks down the five critical habits of mind of massive value-creators, so you can learn how to identify, encourage, and retain such individuals—and maybe even become one yourself. The Self-made Billionaire Effect will forever change the way you think about talent and business value.

Reviews

Goodreads review by Jason on March 18, 2020

As an avid reader of business literature, this ranks at the bottom for its usefulness and novelty. The author(s) are up front about being employed at PwC, a well known consulting/auditing firm, and this reads like some of the worthless drab done by those firms on ideas that they can't seem to grasp.......more

Goodreads review by Mario on December 16, 2015

What do self-made billionaires (there are about 800 of them in the world) have that most people don't ? This book is the first ever systematic study of a self-made billionaire. The first thing you'll read in this book will instantly destroy all the most common myths you hear about these people. An e......more

Goodreads review by Charles on July 23, 2015

Heard the author on the radio and as it turns out the interview was better than the book. Wanted to see what allowed these to leverage their influence and how that might translate to other areas of life. Did glean some helpful insight but could have done it from a lot shorter book.......more

Goodreads review by J.C. on October 19, 2024

Interesting an thought-provoking.......more

Goodreads review by Roy on April 26, 2018

The book seeks to answer an interesting yet inherently complex question: How did bona fide self-made billionaires become who they are today? The book's advice on how corporate leaders can groom more "producers" is overall sensible and probably valid. With that being said, we should perhaps take thos......more