Ideas That Could Make You Billions
There a billionaire dollar ideas and then there are ideas that could just eat up your time and money. These give people turned their ideas into billions. Carlos Slim Helu could have coined the term vertically integrated because he took advantage of the telecom industry in Mexico by buying companies that were undervalued (much like Warren Buffet) and then making them into giant conglomerates that might have a monopoly status in the United States. His companies almost branch out into every industry in Mexico so when Mexico makes money he is making money. This is diversification to the fullest.
Larry Ellison on good business decisions:
One of the secrets to Ellison’s success is that he has always ignored the critics who thought his ideas were crazy. If there were no factual errors in their criticism, he completely disregarded them. He has always said he used the following criteria in his business decisions:
if they are fair
if they are morally correct
if they work
What do all these people have in common? They can see things differently than other people. Whether it’s turning a sewing circle in a fisherman’s village into a giant fashion conglomerate like Amancio Ortega or testing the boundaries of fashion and technology like Miuccia Prada and Larry Page. These people had a vision and were able to make money off their vision just by seeing things a little differently. It pays to learn how to think outside the box.
About Shaun Archer Tatum Shaun works in corporate finance in New York City. He has done financial consulting for several start-ups and has worked at several Fortune 500 companies. He has contributed several finance/investing articles on Seeking Alpha which have been published on Yahoo! Finance.