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Born Into Luxury: How Howard Hughes Got His Start

“I’m not a paranoid deranged millionaire. Goddamit, I’m a billionaire.” While he was perhaps known more for his eccentricities and womanizing than his good business sense, Howard Hughes was indeed one of the most successful entrepreneurs of the 20th century. He managed to turn his $1 million inheritance into a $2 billion fortune. Equivalent to $6.6 billion in today’s dollars, Howard Hughes was and still would be considered one of the richest men in the world.

Rise to the Top: How the Flying Billionaire First Got His Wings

“Play off everyone against each other so that you have more avenues of action open to you,” said a young and ambitious Hughes.

Lesson #1: Never Compromise on Your Goals

“Once you consent to some concession, you can never cancel it and put things back the way they are.”

Lesson #2: Surround Yourself With the Best

“Never make a decision,” joked Hughes. “Let someone else make it and then if it turns out to be the wrong one, you can disclaim it, and if it is the right one you can abide by it.”

Lesson #3: Be Hands-On

Aside from surrounding himself with the best people, Hughes had a secret weapon that allowed him to be more hands-on with his projects than many other entrepreneurs. What was it? Sneakers. Hughes had a habit of wearing sneakers, which would allow him to walk about very quietly and enter his work areas stealthily to monitor his staff without being detected.

Lesson #4: Think Big, Act Small

When Hughes said as a child that he wanted to be the richest man in the world, he had a clear vision about where he wanted to go, but he did not yet know how he was going to get there. That is, until, he began taking one step at a time towards achieve his dreams. Hughes recognized the importance of setting high goals and thinking about long-term possibilities, all the while taking small steps in the short-term to achieve those goals.

Lesson #5: Separate Business from Personal

Although Hughes liked to put his personal touch on every project he worked on, he was also able to recognize the difference between business and personal. At times a ruthless businessman, Hughes would take whatever action he deemed necessary to achieve his goals.

Flying High: Hughes’ Success Factors

Born with a silver spoon in his mouth, Hughes never knew what it was like to be anything but rich. But, it was the degree of his wealth that would drastically change over time. From inheriting $1 million to becoming North America’s first billionaire, Hughes would prove to be one of the greatest and most-talked about entrepreneurs of the 20th century. His significant feats were a result of the following factors:

Howard Hughes Quotes

Howard Hughes Quotes

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