He was the single most successful investor of the 20th century. Time magazine named him one of the most influential people in the world. He’s worth over $70 billion. He’s Warren Buffett and here are his top 10 rules for success
(qlmbusinessnews.com via travelers.co.uk – – Sun, 10 Dec 2017) London, Uk – –
Innocent Drinks is known for its upbeat, playful brand. Founder Richard Reed offers his thoughts on why giving your brand a clear mission helps guide your business.
Focus on what you can control in business
“There are plenty of businesses that do well in the bad times, and there are plenty of businesses that do badly in the good times. The trick to staying positive is not to get too distracted by the external events you can’t control, and double down and focus on the things that you can.
“Ask yourself: have you got the right strategy? Are you effectively using that strategy? Are you attracting and retaining talent? Are you looking after your consumer better than the competition? And are you doing so in a meaningful way?”
Be prepared to adapt when you face challenges as a startup
“In 2008 when the credit crunch struck, we lost a third of our sales over a three-month period. We owed money to the banks, fruit prices went up due to a failure in world harvest, and the pound collapsed by 25%.
“Suddenly, consumers were saying our products were too expensive, but we were losing money on every single smoothie sold.
“We could have made our smoothies cheaper by reducing quality, but Innocent is about making the most natural, best quality drinks. Instead of changing our recipes, we resized our product to adapt to market pressures.”
Cut prices without compromise
“There are times when you’re going to need to make yourself cheaper because consumers have less money, but there will be a way of doing it which is in line with your brand.
“We knew there was absolutely no way we could compromise on quality, instead we sold smoothies in cartons of 750ml rather than 1litre. We made them smaller but we made the price smaller too – that actually turned the business around.”
Stay balanced through the highs and lows
“The bad times don’t last forever. They come in waves. Make sure you keep focused on the things that are important like looking after your consumer, making sure that the business is economically sound, and doing what you can to look after and attract talent.
“When you’re going through the good times, remember they’re going to end. Use the good times to build up a cushion of natural resource. It’s a classic thing, when the sun is shining, that’s when you start mending the roof – don’t wait until it’s raining.”
Tilman Fertitta, CEO of Landry’s Inc. – one of the nation’s largest restaurant corporations, sits down with Mark Lack. Tilman talks about owning Golden Nugget Casinos and Landry’s (worth over $3 billion) – the Houston-based restaurant and entertainment company that owns more than 500 properties and 40 brands of restaurants, including Bubba Gump Shrimp Co. and Morton’s The Steakhouse. Fertitta is the chairman and CEO. His CNBC show called “Billion Dollar Buyer” premiered in March 2016 and was renewed for a second season. He talks about going public, and then taking it back to private. He talks about growing his company to a billion dollar company. He gives great business advice and more!! He has 3 tips for anyone starting a business. Tilman is the man.
(qlmbusinessnews.com via bbc.co.uk – – Sat, 25 Nov 2017) London, Uk – –
The forerunner of the bicycle – the laufmaschine or running machine – bears only a passing resemblance to the pedal-bikes we know today.
Invented in 1817, it had no chain and was powered by the rider pushing his feet along the ground in a walking or running motion.
Even more unusually, its frame was made from wood.
Jump forward to 2017, and a crop of bike makers is turning back the clock – at least in terms of using wood as a core material.
These firms make their bicycles in part, and occasionally wholly, from woods such as ash, oak and walnut.
They are driven by a love of craft and design, the desire to use natural materials, and a passion for cycling itself.
And they have attracted a small but growing base of enthusiastic customers, willing to pay high prices for their lovingly crafted creations.
“People like having something unique, something different,” says Chris Connor, the founder of Connor Wood Bicycles.
“They also appreciate the craftsmanship. Not a lot of things are built by hand these days.”
The company was born in 2012, after the 48-year-old American decided to combine his long held passions for woodwork and cycling.
All his bikes all have wooden frames; the other parts, such as the gears and wheels, are made from steel, carbon or rubber.
Prices range from $3,500 (£2,600) to $11,000.
Sales have gradually been increasing, but it hasn’t been easy, says Mr Connor. That’s because of a perception among some cyclists that wooden bikes may break or be unsafe.
In fact, Mr Connor says wood is very durable, which is why it’s used to make tool handles, skis, boats, even light aircraft.
It also absorbs vibrations well, making cycling on bumpy roads smoother, less tiring and quieter.
“And of course, these bikes look great,” says Mr Connor, who makes his frames made from “strong but flexible” white ash or “eye candy” black walnut.
A recently published book called “The Wooden Bicycle: Around the World” features 111 companies that make bikes from wood or bamboo.
Only one, Splinterbike in the UK, sells 100% wooden models with its bikes featuring wooden gears, chains and wheels.
However, most limit their use of wood to the frame, and occasionally parts such as the handlebars and forks. Other parts will be made from materials typically associated with bikes, such as aluminium.
It is the unique design of wooden bikes, and their bespoke craftsmanship, that underpins their appeal, says Gregor Cuzak.
The Slovenian co-founded Woodster Bikes after meeting woodworker Iztok Mohoric, who had recently designed a bike with a wooden frame.
“I wasn’t interested at first, but after I saw it and took a ride, I was immediately convinced,” Mr Cuzak says. “People were watching me as if I was driving a wild sports car.”
Like other firms in the space, Woodster is targeting customers who appreciate the finer things in life. Its bike frames are made of woods such as beech and bog oak, and prices range from 2,500 euros (£2,190) up to 17,000 euros.
In addition, every customer gets a book with a story about how their individual bike was made.
“We even plant a new tree at the same location where we cut one for your bike,” Mr Cuzak adds.
Piet Brandjes, 63, who co-founded Dutch firm Bough Bikes, agrees that wooden bikes “attract attention”.
For that reason, firms in the Netherlands such as Novotel and Rabobank have bought Bough Bikes for their guests and employees to use.
In the 1980’s he was homeless while he tried to raise his toddler son.
To get off the streets he became a stockbroker and later, an entrepreneur.
Today he’s worth millions and had Will Smith play him in a movie.
He’s Chris Gardner and here are his Top 10 Rules for Success.
He was a martial artist, actor, teacher, and philosopher. He is widely considered to be one of the most influential martial artists of all time. He is often credited with helping change the way Asians were presented in American films. He’s Bruce Lee and here are his Top 10 Rules for success.
(qlmbusinessnews.com via independent.co.uk – – Sat, 30 Sept 2017) London, Uk – –
Mayweather has generated around 19.5m in PPV buys and $1.3bn in revenue throughout his career, with the McGregor fight likely to boost his career earnings over the $1bn mark
Floyd Mayweather is one of the biggest pay-per-view attractions of all time and one of a very elite group of athletes to see their career earnings nose above the $1bn mark.
A shrewd businessman and the greatest boxer of his generation — if not all time — Mayweather has been listed as the highest paid athlete in the world four times by the American business magazine Forbes.
Mayweather is so rich that he even changed his boxing identity to reflect his staggering wealth.
The American was known as “Pretty Boy” throughout his entire career, as a result of how little he got hit due to his superior defensive skills. But in 2007 before the biggest fight of his life against Oscar De La Hoya, Mayweather unleashed a new name: “Money.”
He is also known as the ‘PPV King’ due to his phenomenal success at the box office. His fight against Canelo Alvarez attracted over 2m buys and $150m (£116m) in revenue — but these numbers were dwarfed by his fight against Manny Pacquiao, with 4.6m buys and $400m (£308m) in revenue.
In total, he has attracted 19.5 buys and around $1.3bn in revenue.
But what is his estimated net worth? Who are his sponsors? And exactly how much money does he stand to make by fighting McGregor?
Here everything you need to know about Mayweather’s extraordinary financial muscle.
What is Mayweather’s estimated net worth?
Floyd Mayweather is one of the very richest athletes in the world, topping the Forbes and Sports Illustrated lists of the 50 highest-paid athletes of 2012 and 2013 respectively, and the Forbes list again in both 2014 and 2015.
Mayweather has generated just under 20m PPV buys and over $1bn in revenue throughout his career, surpassing the likes of former top boxers such as Mike Tyson, Evander Holyfield, Lennox Lewis, Oscar De La Hoya, and Manny Pacquiao. His PPV buys and revenue dwarf that of McGregor.
In 2016, the American business magazine Forbes reported that Mayweather banked $32 million (£25m) from his ‘retirement’ fight against Andre Berto fight to bring his career earnings to around $700 million (£540m).
Given that Mayweather made roughly $250 million (£193m) for the Pacquiao fight, it can be safely assumed that his career earnings will surpass $1bn this summer.
According to Forbes: “Another massive purse awits the five-division world champion in August for his boxing match versus UFC star Conor McGregor. If Mayweather can secure a similar payday to his 2015 Manny Pacquiao bout, it will push his career earnings to $1 billion.”
How many other athletes have made over $1bn during their careers?
Not many. The only other athletes to earn such a large amount of money during their sporting careers are basketball player Michael Jordan ($1.5bn) and Tiger Woods ($1.4bn), who both enjoyed a number of lucrative sponsorships, principally with Nike.
There are three others if you adjust for inflation: golfers Arnold Palmer and Jack Nicklaus, and seven-time Formula 1 world champion Michael Schumacher.
Who sponsors Mayweather?
Perhaps surprisingly, Mayweather doesn’t have that many active sponsorships. In 2015, he told Fortune magazine that this was not because brands were not interested in working with him, but because his baseline for entry is too high for most. How much does he demand? $1m.
This may only partially be the reason. Mayweather also has a chequered past, and has previously been charged with domestic violence and misdemeanor battery, which means that some brands may have been reluctant to work with him.
For the Pacquiao fight, three brands did decide to sponsor him however. Burger King, daily fantasy sports site FanDuel, and Swiss watchmaker Hublot all dished out over $1m.
Why did he split with Top Rank?
In 2007 Mayweather founded his own boxing promotional firm, Mayweather Promotions, after defecting from Bob Arum’s Top Rank.
He broke ties with Top Rank after activating a $750k (£578k) break clause, believing that he could make more money promoting his own fights.
It proved to be a shrewd choice: he earned pay checks ranging between $25m-$40m (£19.3m-£31m) over the next six years, before he broke new records for his fight against Canelo Alvarez, which netted him over $70m (£54m).
What has his richest fight been?
Until now, it has been the contest with Pacquiao. Mayweather is believed to have made $220m (£175m) from the contest, with the fight generating an incredible $600m (£470m) in revenues.
For his last fight, a unanimous points decision win against Andre Berto, he secured far less: $32m (£25m).
And how much does Mayweather stand to earn from this fight?
If the PPV stays roughly in line with the Mayweather v Pacquiao fight, the Mayweather v McGregor fight purse is likely to be worth around $390m (£300m). Total revenues are meanwhile expected to exceed $500m (£390m).
Somewhat unfortunately, the two men signed a confidentiality agreement when they signed their contracts, meaning the exact split will not be revealed.
We know that Mayweather is getting more however, with estimates ranging in the 70-75% region
Andres Izquieta is the CEO of Five-Four Club, a monthly clothing subscription box for men. Andres says entrepreneurs have ideas and find out how to go out and execute that idea. Andres talks about how he always knew he wanted to become an entrepreneur and start his own business. He talks about their first round of funding, and how they use Instagram as a tool for their business.
Just a few short blocks from the New York Stock Exchange, another Wall Street institution sits at its centuries-long perch at the triangular intersection of William and Beaver streets.
Delmonico’s is widely considered to be one of the very first sit down restaurants in America, born at a time when New York offered little more than taverns and oyster cellars. Culinary mainstays like eggs benedict and baked Alaska were invented in their kitchen.
While Delmonico’s is (rightly) renowned for its steak offerings, Executive Chef Billy Oliva tipped us off to several decadent items that aren’t on the printed menu. Skip the dining room and head straight to the bar to ask the bartender for these secret items like a $100 grilled cheese or a $50 cookie.
Delmonico’s is celebrating its 180th anniversary in September in style, offering a 180-day dry aged steak for a whopping $380.
What’s a billionaire’s monthly monocle polish budget? How much does it cost to hunt a pterodactyl? These answers and more Top 5 Facts. Today, we’re counting down the most amazing facts you probably didn’t know about billionaires.