By Chris Steyn
This interview is about the secrets of wealth creation with Daniel Strauss, the best-selling author of “The Billionaire Mindset” and “The Billionaire Career”. Strauss shares his trick for making an impactful pitch to an investor; describes the characteristics of a successful entrepreneur; and reveals how he used business strategy to help his then-girlfriend, now wife, Rolene Strauss, win the Miss World title.
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What are the secrets of wealth creation?
How do people make money when they don’t have any money to begin with?
These are some of the questions BizNews put to Daniel Strauss, the best-selling author of “The Billionaire Mindset” and “The Billionaire Career.”
He gives advice on:
- Gaining business “superpowers”
- Getting clarity on what gives one energy in business – and what drains one’s energy in business
- Creating an environment where the probability of luck is increased
- Speaking “above the line”; and
- Pitching to an investor
“I think the most important part is firstly, don’t go in as a beggar. Go in as someone who is giving someone else an opportunity to come on a journey with you. So that is a mindset change.”
Strauss reveals the biggest success story from investments made by him and his partners: “ I think in terms of let’s say percentage terms, one of our best investments: we invested in December 2019 at a valuation of about 26 million Rand and within about 24 months, the business was worth 1.38 billion Rand. So that was quite a significant uptick in value.”
He also recalls the lowest point in his career. “That would probably have been 2008-2009. So I just finished my MBA subjects and then it was a big recession. So for six months, I didn’t have a job. I literally did not have any money.
“And that is when I made the promise to myself to say: I will never ever be in a position like this again, where I have to go to job interview after job interview and job interview just to hear ‘Sorry, we’re not hiring people, Sorry you didn’t get the job.’ And that’s where I took full responsibility for my own life and my income for me and my family in my future.”
The main message of his latest book “The Billionaire Career” – which is already on the bestseller lists – is: “We define success differently, all of us. But all of us can reach our full potential within our own definitions of success. And if your definition of success is money, or shareholder value or net worth, then there’s a perfect guide inside of this story to show you how it’s done.”
Read more:
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- Fixed capital investment and growth in renewables form part of SA’s cure – ClucasGray’s Andrew Vintcent
- ICYMI: Section 12B tax-deductible investment explained
