More Advice from Billionaire Sheldon Adelson
July 4th, 2008 by admin
In the last post, I presented some quotes from a New Yorker profile of billionaire Sheldon Adelson. I found an interview Charlie Rose did with him fairly recently:
(As a bonus, the same episode of Charlie Rose also has James Bond actor Daniel Craig and Alex Trebek!)
And here are some lessons he presented to an entrepreneurship class:
* Keeping your word is the most important thing in business.
* Work with advisors to identify a space which offers a high return on investment and then cultivate a business in that space.
* Entrepreneurs are “like an actor on stage. He performs, listens to the applause, which then dies down. He, then, needs more applause, so he performs again”
* “The goal of entrepreneurship should be satisfaction, not money.”
* “Challenge the status quo.”
* “The best business is one in which the owner is protected by a patent or by market share, because the product or service is so good that it is better than all the others.”
* “Be willing to take a risk. If there is no risk, there is no gain.”
* Accept “the honor, not the obligation, of sharing.”
* “Promote employees on seniority, but first on merit.”
Source: http://www.hotel-online.com/News/PressReleases2000_4th/Nov00_Adelson.html
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