How to get rich from your ‘Big Idea’

Calling all dreamers

• A carpenter gets tired of almost losing a finger whenever he slices a bagel. Bam! Bagel Guillotine.
• A homemaker is frustrated that her pantry is full of stale food because the packages don’t stay closed. Bam! Quick Seals.
• A woman is annoyed that her bra strap keeps slipping. Bam! Strap Tamers.
• A nutrition-conscious couple wants frozen foods that aren’t junk. Bam! Amy’s Kitchen.
• A mother is worn out from chasing down runny-nosed kids. Bam! Boogie Wipes.
• A stylish lady is fed up with visible panty lines. Bam! Spanx.
• Big ideas are all around us. Every day I meet people who have come up with innovations that nobody ever thought of before. In each case, the idea grew out of a need, something that was missing, a frustration, the desire to make life a little easier, a little better. These are slap-yourself-on-the-side-of-the head, obvious ideas. But it took people with the desire and motivation to see them through.

  If you’re sitting on a big idea right now — an idea that could make you millions — it’s time to get moving. Don’t let anything stop you. Don’t let anyone dismiss your idea and tell you that your dream won’t work. When in doubt, do.

  The American dream is within your reach. I’ve literally seen it happen hundreds of times. The people who turn their big ideas into millions come from every conceivable background. They’re middle-class moms, factory workers, college kids, veterans, people with disabilities, office workers, retirees, everyone and anyone. Ordinary people — some faced with enormous obstacles — are stepping up and achieving extraordinary goals.

  They share one thing in common. They were passionate about their ideas — so passionate that when the naysayers piled on, they kept shrugging them off, believing they could achieve their desires ... and they did. They acted on their beliefs. And their achievements represent a revolution that’s sweeping across our nation, changing the way business is done.

• News flash: We no longer live in a top-down world. We live in an age of individual empowerment. The business culture has undergone the most radical transformation since the Industrial Revolution. Turning individual dreams into reality is much more possible than ever before. The smart ones are those who figure out how to get a piece of the action.

  Forget the old excuses. Drop the Us vs. Them mentality. You don’t need a corporation to make it. You don’t need your own factory to produce a product. You don’t even need an office. From your home, you can build your own Web site, do your own research, create an electronic sales force, join a community of like-minded people, and sell your product.

  Dreaming is the new reality, and The Big Idea is the ultimate reality show. My guests are the embodiment of everything that’s wonderful and hopeful about who we are as a culture in the twenty-first century. They didn’t make it because they were born into the lucky sperm club, or were the best-looking folks in the room, or even were especially talented. These are people who through human drive and passion — and yeah, sometimes a little luck — found their way to the mountaintop.

  There are many different roads to success. But I have to say, on a personal level, there’s nothing I enjoy more than coming across someone who was a screwup as a kid and is now making it.

  Love is the answer
  If I’ve asked two thousand people, “What’s the secret to your success?” almost every answer is identical: “Do what you love.” You have to be passionate about it. I’ll take it a step further: No matter what you do, if you’re not passionate about it, find something else.

  I have never met a truly successful person who was not fired up about their work. Take a look at the icons in business today — the Donald Trumps, the Rupert Murdochs — and you’ll see the gleam in their eyes. These guys have so much money, they don’t have to work another minute of their lives. They work because it turns them on. You want to know who’s doing well? Notice the people with the big shit-eating grins on their faces.

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  There are a lot of ways to measure success. Money is one way. But the key is love. Most of our waking hours are spent working, and if you don’t love what you’re doing, you’re not going to be happy day-to-day.

  Here’s a clue: When Sunday night feels as great as Friday night, you’re doing what you love. I still remember when I worked at Ogilvy & Mather, Friday night was the peak of my week. My real life, my happiness, my pleasure all happened on the weekend. By Sunday night I was winding down, feeling tense, gearing up for a five-day grind.

How to Become As Rich As Bill Gates (end)

Lesson 8: Self-Esteem is Not Job 1

Gentility, politesse, decorum, and high self-esteem are wonderful. You can achieve all of these things within your organization. And then watch it be destroyed by competitors where frank and, if necessary, harsh criticism is encouraged. Technical people, even (and especially) those fresh out of school are always convinced that whatever they've developed, no matter how hare-brained, is perfect. It takes a technical person with good judgement to notice the flaws and it may require repeated and increasingly harsh delivery for the, uh, pinhead to realize his or her mistake.

Example: I once encountered a group of 6 people who called themselves "engineers." To solve what they thought was a new problem, they were going to build their own little database management system with their own query language that was SQL-like without being SQL. I pointed them to some published research by a gang of PhD computer scientists from IBM Almaden, the same lab that developed the RDBMS and SQL to begin with in the 1970s. The research had been done over a five-year period and yet they hadn't become aware of it during several months of planning. I pointed them to the SQL-99 standard wherein this IBM research approach of augmenting a standard RDBMS to solve the problem they were attacking was becoming an ISO standard. They ignored it and spent another few months trying to build their enormously complex architecture. Exasperated, I got a kid fresh out of school to code up some Java stored procedures to run inside Oracle. After a week he had his system working and ready for open-source release, something that the team of 6 "engineers" hadn't been able to accomplish in 6 months of full-time work. Yet they never accepted that they were going about things in the wrong way though eventually they did give up on the project.

An 1994 New Yorker article about Microsoft relates "If he strongly disagrees with what you're saying, [Gates] is in the habit of blurting out, 'That's the stupidest fucking thing I've ever heard!'". Jennifer New, a former Microsoft contractor, writes "Meetings with Bill or one of his top people are often replete with a barrage of expletives and other disdainful comments." (Salon, September 1997) My friends who work or have worked at Microsoft tell similar tales. But how different is this from other elite organizations?

When I arrived at MIT as a first-year graduate student in electrical engineering and computer science, I asked a professor for help with a research problem. He said "The reason that you've having trouble is that you don't know anything and you're not working very hard." A friend of mine was a surgery resident at Johns Hopkins. He complained to one of his teachers that he was having trouble concentrating because he'd been up all night for several nights in a row. The professor replied "Oh... does your pussy hurt?" According to Business Week, Jack Welch "encouraged near-brutal candor in the meetings he held [at GE]".

The bottom line: self-esteem is great but beware of creating a cozy home for unproductive people with bad ideas.

More

Plato addresses some of these issues in the first book of The Republic (available online from www.gutenberg.net). Socrates asserts that people who've inherited fortunes tend to be light with their money but that people who've made their fortunes "have a second love of money as a creation of their own, resembling the affection of authors for their own poems, or of parents for their children, besides that natural love of it for the sake of use and profit which is common to them and all men. And hence they are very bad company, for they can talk about nothing but the praises of wealth."

Socrates asks Cephalus, a wealthy old man, "What do you consider to be the greatest blessing which you have reaped from your wealth?" Cephalus replies that "The great blessing of riches, I do not say to every man, but to a good man, is, that he has had no occasion to deceive or to defraud others, either intentionally or unintentionally."

In the Decameron, Boccaccio writes "If you really want to make the big bucks, what you really need is a monopoly on the desktop operating system. But the Sherman Antitrust Act, 15 U.S.C. § 1 and 2, and Clayton Antitrust Act, 15 U.S.C. § 25, are real bitches."

Sources

Good sources of facts about Bill Gates and Microsoft are the following books:

• Hard Drive (James Wallace and Jim Erickson; 1992)
• Overdrive (James Wallace; 1992)
• Gates : How Microsoft's Mogul Reinvented an Industry-And Made Himself the Richest Man in America (Stephen Manes, Paul Andrews 1994)
• How the Web Was Won : How Bill Gates and His Internet Idealists Transformed the Microsoft Empire (Paul Andrews 1999)
• High Stakes, No Prisoners (Charles Ferguson 1999) explains how Microsoft crushed Netscape
• if you don't feel like reading Project Gutenberg's version on-line, you can pick up a paperback copy of Robin Waterfield's translation of The Republic