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Tycoon Playbook Review
As a recent IRS report on America’s wealthiest proves, the surest way to becoming rich has always been and still is by building your own business. There are two basic approaches to building a business. One way is to focus on finding the home run product or service to build a single company around. The other way is to focus on accumulating many businesses over time. The first variation requires far more luck considering just how many failures there are relative to successes. The second variation is a simple numbers game based on the reality that once you have a system and team in place for acquisitions, you will have far more winners than losers over the long run.
This second path is often referred to as the PacMan strategy because you use your company to gobble up other companies. It’s the most proven path to billionaire status.
As with most things in life, the basic concept is simple while the devil is in the details. This is where the Playbook truly shines. The three month course reverse engineers the acquisitions strategy employed by tycoons and billionaires who made their fortunes through wheeling and dealing in businesses. Then it breaks down this complex topic into easy to understand and follow action steps. Equally importantly, it also shows you how to avoid the minefields. This is not a course built on dry academic theory.
The creator of the course worked for many years helping entrepreneurs and mini-tycoons to buy and sell businesses. In addition, he has also spent decades studying how they got started in the game and built their empires. As a result, the Playbook is rich in examples of actionable steps taken by tycoons to not only get going but to get it right.
What are the key rewards of the course in my opinion?
First, if you’re thinking that becoming wealthy requires an element of good luck in addition to work and perseverance, you are absolutely correct. The course reveals how you can maximize your luck if we agree that luck is a matter of being in the right place at the right time. It does so by having the second learning module reveal how insiders spot emerging opportunities well before the masses do. The eighth module teaches you how to take a calculated risk by revealing the do-able deal test for acquisition opportunities. Once you have digested these two lessons your ability to do successful acquisitions increases dramatically.
A second reward of the Playbook is in how it takes a complex subject such as acquisition finance, which intimidates most people, breaks it down into its constituent parts, and lists the many options you have available for buying a business. You need not be a mathematical genius to understand how tycoons acquire control of businesses. By the end of the financing section you will feel like an up and coming Kirk Kerkorian.
A third reward in taking the course comes from discovering the Golden Feedback Loop used by tycoons to disrupt and dominate industries. The GFL may not be available in every situation but the Playbook shows you how to recognize pre-existing ones and even trigger your own whenever possible.
Finally, the biggest and most important pay off comes from the details in how tycoons started down the road towards fare and fortune. The difference between them and people who don’t accomplish much is that they simply started and kept moving towards their goal. Most people never even leave the starting blocks.
The Tycoon Playbook contains the details of a billion dollar strategy. If you take the course and only apply 1% you will still be further ahead than most.
Any small business owner can begin to put these lessons into action immediately.
Chrystia Freeland: The rise of the new global super-rich
Why you should listen
Author Chrystia Freeland looks under the hood of global capitalism to expose the technological, economic and structural inequalities pushing society in unforeseen directions. Along the way, she takes the temperature of a rising caste — the super rich — and shows how the creation of vast fortunes at the top hollow out the middle class in western industrialised countries. This rising income inequality, she argues, has a structural character, and is becoming a cultural and social issue, with consequences for social cohesion and social mobility.
Freeland began her career as an “accidental journalist” with frontline bulletins from the Ukraine in the heat of the Soviet collapse. She is now an editor at Thomson Reuters, and is frequently featured on media outlets ranging from the International Herald Tribune to The Colbert Report.
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Top Billionaires in 2014
The Rise of the Super Rich : Untold Wealth of the One Percent
According to the Forbes report released in March 2013, there are currently 1,426 U.S. dollar billionaires worldwide from 66 countries, boasting a combined net worth of $5.4 trillion, which is more than the combined GDP of 152 countries. The United States has the largest number of billionaires of any country, with 442 as of 2013, while China and Russia are home to 122 and 110 billionaires respectively. Among U.S. billionaires, the average age is 66 years.
What the Top Billionaires Are Watching for in 2014
In Canada the top .01% of income earners have an average income of $6 million, and collectively earn 1.5% of our total income. Sounds like a lot until you look at the US, where the top .01% earn an average of $24 million each – which adds up to a 4.5% share of the total.
(from Canadian Business, Dec 9, 2013, Editor’s Letter by Duncan Hood)