A producer usually has a the big picture in really great control, but thus can’t fully concentrate on the single aspects that can sometimes make or break a business, such as product manufacturing, accounting, marketing or HR – that’s why producers have to partner with the right performers at the right time in order to actually build the billion dollar business they have inside of them.

Partnering With The Right Team

Want to know if you’ve got what it takes to be a billionaire? Take a look at these 3 lessons and see how you stack up:
<ul>
<li>Billionaires are multitaskers.</li>
<li>Risk is relative.</li>
<li>Producers must partner with performers.</li>
</ul>

The Billionaire

<ul>
<li>Ideas – Empathetic Imagination: See the big picture. Come up with and explore new ideas.</li>
<li>Perspective – Patient Urgency: When bringing product to market, they’re able to work at multiple speeds and time frames, poised to seize opportunities.</li>
<li>Action – Inventive Execution: Execute ideas with integrative and inventive mindset.</li>
<li>Attitude – Taking Relative View of Risk: Perceptions of risk relative – they want to be a part of the future, more than they are afraid of losing what they have.</li>
<li>Leading – Leadership Partnership: How good ideas become great businesses. Producers are not alone.</li>
</ul>

The Five Dualities

Skills Needed<ul><li>Ability to dream and act.</li><li>Imagine what is possible.</li><li>Design to capture the greatest value.</li></ul>Design Considers<ul><li>Strategy and tactics.</li><li>Terms of sale and the deal.</li><li>Ownership and distribution.</li><li>Customer experience.</li></ul>

The Skills And The Design

The fine line between too risky and not promising enough is hard to strike, but billionaires obviously excel at it. What allows them to only take the exact risks they need to take, and not more?It’s not that billionaires take more risks than the average entrepreneur – they roughly take the same amount of them. What helps them take better risks is their relative view of it.

A Different View Towards Risk

<a href="https://en.wikipedia.org/wiki/Michael_Bloomberg#Business_career">Michael Bloomberg worked as an investment banker</a> and got fired shortly after getting a promotion because his bank was acquired. Instead of taking another investment bank job, he used his $10 million severance package to then start his own company, providing market research data to big companies, which ballooned to over 15,000 people over the years.

Getting Fired Can Be Good

<ul><li>Producers blend new opportunities within an old mode.</li><li>Having a blockbuster idea requires real immersion in a subject, real willingness to come up with many ideas, and the ability to suspend judgment of ideas that may seem odd or out there.</li><li>Blockbuster ideas begin with empathy.</li><li>Build products around the customer’s needs.</li><li>Look for opportunities and ideas to capitalize on present and future trends.</li><li>Walk a mile in your customer’s shoes to uncover their irritation.</li></ul>

The Producer Mindset

Being producers, billionaires must, however, partner with performers, in order to succeed.Imagine Steve Jobs without Steve Wozniak. You’d have an incredibly creative and visionary human being, with charming people skills, who couldn’t build a single computer.Likewise, Steve Wozniak’s incredible manufacturing and electrical engineering skills would have amounted to nothing more than a few fun gadgets and some pocket money, had he not teamed up with Steve to bring the Apple I to the world.

Producers Partnering with Performers

Billionaires are extremely good at juggling multiple ideas, all the time.These are people with a clear vision, innovative ideas and the skills to bring the resources together, that’ll make them a reality. That makes them different from performers who are highly specialized, and usually very good at executing a particular skill, for example handling a businesses finances. Billionaires being multitaskers allows them to embrace some of the dichotomies which make them unique.

Doing Multiple Things At The Same Time

The authors researched self-made billionaires to find out what made them stand out from regular employees, entrepreneurs and even millionaires. This book puts self-made billionaires in one of two very distinctive categories of people, and observes the 5 habits, or rather dualities, that allow them to create value on such a massive scale.

Discover and cultivate the secret traits of self-made billionaires with THE SELF-MADE BILLIONAIRE EFFECT by John Sviokla and Mitch Cohen Imagine what Atari might have achieved if Steve Jobs had stayed there. Or what Steve Case could have done for Pepsi if he hadn't left for a start-up that eventually became AOL. Scores of billionaires worked for established corporations before they struck out on their own. People like Michael Bloomberg and Mark Cuban went on to build iconic household brands. Why didn't their former employers hang onto to these people? And why are most big companies unable to create as much value as the world's 800 self-made billionaires? Billionaires aren't necessarily luckier, smarter or harder working than the rest of us - and they rarely build something brand-new. The key difference is their mindset. They redefine what's possible - and they are critical to any company looking to create massive value. The Self-Made Billionaire Effect breaks down the five critical habits of massive value-creators, so you can learn how to identify, encourage, and retain them - and even become one yourself. It will forever change the way you think about talent and business value. John J. Sviokla is the head of Global Thought Leadership with PricewaterhouseCoopers. He is a frequent speaker on innovation, growth, and customer behavior. In addition to working with clients, John serves on PwC's Advisory Leadership Group and Global Thought Leadership Council. He was on the faculty of the Harvard Business School for ten years and has written for Harvard Business Review, The Wall Street Journal, Financial Times, and Sloan Management Review. Mitch Cohen is PwC's Vice Chairman. During his 33 years at the firm and 20 years as a partner, Cohen has held a variety of leadership roles and served numerous Fortune 500 clients.

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Personal Development

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Money & Investments

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Books

Discover and cultivate the secret traits of self-made billionaires with THE SELF-MADE BILLIONAIRE EFFECT by John Sviokla and Mitch Cohen Imagine what Atari might have achieved if Steve Jobs had stayed there. Or what Steve Case could have done for Pepsi if he hadn't left for a start-up that eventually became AOL. Scores of billionaires worked for established corporations before they struck out on their own. People like Michael Bloomberg and Mark Cuban went on to build iconic household brands. Why didn't their former employers hang onto to these people? And why are most big companies unable to create as much value as the world's 800 self-made billionaires? Billionaires aren't necessarily luckier, smarter or harder working than the rest of us - and they rarely build something brand-new. The key difference is their mindset. They redefine what's possible - and they are critical to any company looking to create massive value. The Self-Made Billionaire Effect breaks down the five critical habits of massive value-creators, so you can learn how to identify, encourage, and retain them - and even become one yourself. It will forever change the way you think about talent and business value. John J. Sviokla is the head of Global Thought Leadership with PricewaterhouseCoopers. He is a frequent speaker on innovation, growth, and customer behavior. In addition to working with clients, John serves on PwC's Advisory Leadership Group and Global Thought Leadership Council. He was on the faculty of the Harvard Business School for ten years and has written for Harvard Business Review, The Wall Street Journal, Financial Times, and Sloan Management Review. Mitch Cohen is PwC's Vice Chairman. During his 33 years at the firm and 20 years as a partner, Cohen has held a variety of leadership roles and served numerous Fortune 500 clients.

A Different View Towards Risk

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