Wednesday, November 6, 2013

T. Boone Pickens essential keys to success

T. Boone Pickens is an 80-year-old billionaire still fighting ahead. He has learned from his successes and failures and continues to capitalize on both the lessons.

Here are Quotes from Pickens on his Work Ethic.

Make The Call: "Sometimes the window of opportunity is open only briefly. Waiting is not a decision, although many people think it is. Be willing to make decisions. That's the most important quality of a good leader. Don't Fall victim to what I call the ready-aim-aim-aim-aim syndrome. You must be willing to fire."

Take a Long View: "To make the big money, I've found it best to take a long-term view, stay focused and not get spooked by the temporary fluctuations in the market. When I have the odds in my favor, I put my money up and keep it up. If the fundamentals change, I get the hell out of there"

Be Accessible:" The best way to sidestep the disasters is to be available.

Analyze Well: "Information is everything. You can never have enough, and as you get older you find that keeping current keeps you in the game."

Learn from Mistakes: "It's all right to get your fingers crushed in the door, but don't let the same door crush them twice."

Keep Priorities Straight: "Far too many executives have become more concerned with the four P's- pay, perks, power, and prestige- rather than making profits for shareholders."

Hire Good People: "What I am always looking for is people who can do a job better than I can."

Balance it out:"Work eight hours and sleep eight hours, and make sure that they are not the same eight hours."

Forget about Age: "Give young people a chance."

Look on the Bright Side: "I told a friend, This is the kind of market that builds character. He looked at me and said, If it gets any worse, you'll have more character than Abe Lincoln."

Have a Plan:"A fool with a plan can outsmart a genius with no plan."

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