Advice– there’s a lot of it out there, but how do we know which advice to listen to? 

 

Advice comes in all different forms and methods. There’s advice we welcome with open arms– and some advice not so much. We can pay for advice from mentors and coaches. Even therapists and counselors.

 

We can find free advice at the end of our fingertips. You google just about anything and a million sites, ads, blogs (heyyyy), and articles pop up with their answer to your inquiry. 

If you are anything like me, I want my advice to come from a trusted source. When needing advice on a topic, heed to those who not only have an exorbitant amount of expertise on the subject but also have an obvious passion. 

 

This separates the price of advice from the value of it. What is the advice you’re receiving worth? 

 

I love being the host of the Build Your Network Podcast. The show provides free advice to any who will listen. But the knowledge, the insight, the advice that is given is worth so much more!

 

Advice from a billionaire? Or someone running a multi-billion dollar company? I’d say the worth of their advice is priceless. 

 

So my advice?…Listen to theirs and apply it! 

 

I interviewed three businessmen that have big reputations in the entrepreneurial world — and a few billion reasons to back them up. 

 

Let’s take a look at what they have to say, and I’ll let you determine what you are going to do with their billion dollar advice!

 

Tilman Fertitta

 

Tilman Fertitta is a down-to-earth Texas native who has now come to be called the “World’s Richest Restaurateur” by Forbes. 

 

As the sole owner of Landry’s Company and recent owner of the Houston Rockets, Tilman does not shy away from giving the valuable truth of how he made it. 

 

You Must Be Opportunistic

 

Even in college, Tilman took every opportunity to learn the business. From retail to building homes to direct sales- he did it all.

 

When you take opportunities that are presented to you, they have the potential to teach you valuable lessons about business and more importantly– people!

 

Business is people. If you take every opportunity to learn more about approaching people, speaking to or in front of people, and truly communicating with people, you will succeed in learning business in a deeper way that will take you farther than a textbook or classroom. 

 

Learning from opportunities that are presented to you gives you the tools and confidence to then look for opportunities and take them! 

 

The world of development began to fall apart around him in the 80s. So he turned to what he knew.

 

The restaurant business was familiar to him because his father owned one. He had grown up working in the restaurant and understood it well. While his development partners were fighting, he saw an opportunity to invest in something that he knew. The chain restaurant business was on the cutting edge, and because he seized the opportunity when he had it, the rest is history!

 

You always take everything moment by moment and continue to set goals...and I would say the biggest thing about being an entrepreneur is being very opportunistic - Tilman Fertitta Click To Tweet

 

Being opportunistic is not about waiting around for the opportunity to present itself on a silver platter. It’s looking for the opportunity. Recognizing it for what it is, and seizing it!

 

Timing is Everything

 

Fertitta became the owner of the NBA’s Houston Rockets in September of 2017. While this was a huge feat and bucket list item for Tilman, this was not the first time he had attempted to be an owner of a professional sports team. 

 

Over twenty years ago, Tilman had been a partner in a bid for the team and lost out. Although disappointed, he did not allow this setback to discourage him from still having the dream. 

 

Opportunities come and go. The one thing to always keep in mind is that if one does not pan out the way you hoped, never discount it as a mistake. The only opportunity failure is a missed opportunity.

 

Tilman continued to focus on his restaurant business and grew it from a multi-million dollar company to a multi-billion dollar company. Who knows if that would have happened if the original bid to be a co-partner had gone through? He now is the sole owner and happier than ever. 

 

Timing sucks sometimes. I, just like everyone else, can be impatient. But if there is anything to take away from this– look for opportunities, learn and grow from mistakes, and seize the moment when the perfect timing comes!

 

Want to hear more from Tilman’s interview? Click here to listen to the full episode.

Interested to learn more about Tilman and his tips for success? Click here to watch a short video.

 

Tom Bilyeu

 

At 22 years old, Tom Bilyeu felt like his whole world was summed up in filmmaking. And he believed you are either good at something or you are not. 

 

His senior thesis gave him a blatant wake up call that he had no talent in this area. Life as he knew it was falling apart, and he was on the edge of depression. 

 

How did he turn it around and become a successful millionaire of a billion dollar company? 

 

Choose to Believe In What You Think is Right

 

One habit that Tom developed in college was being an avid reader. Reading became his escape, but it inevitably led to his self-development. 

 

*Side note- great leaders are great readers. If you are not in the habit of reading, what is holding you back? 

 

Let me, as a friend, challenge you to read one good book a month. Reading helps us attain knowledge and information. Choosing to believe it and apply it will help you see change and results in your life!

 

But I digress…Tom read about the brain, and at the time, brain plasticity was a new, hot topic. 

 

Many viewed the idea that the brain continued to develop new neurons and change over your lifetime to be fake. The brain experts debated the fact that your brain could in fact learn new things and transform after childhood.

 

However, Tom, after reading much about it, decided to believe in it. He decided to believe that the people who said you could learn new things were right. And he allowed himself to fully accept the hope for his future that belief provided.

 

When you come across something that stirs your heart, soul, and mind- hold onto it. Believe it, and allow it to motivate you to take action.

 

Mediocrity is the Enemy of Rising to Your Potential

 

Tom’s belief in self-development came from a place of desperation. The idea of depression did not sit well with him, and he decided to make it a necessity to change. 

 

Mediocrity is the thing people have to fear -- not failure. - Tom Bilyeu Click To Tweet

 

Generally, failure is in the top 10 answers when someone is asked their greatest fears. Usually somewhere around fear of spiders or the dark. But nonetheless, fear of failure is one of the deepest fears out there. 

 

But what if people shared the real fear of mediocrity instead? Staying the same. Getting stuck in a rut so to speak.

 

Days, weeks, months, and years of being comfortable right where you are. In whatever area of life. And not going anywhere.

 

Tom used the fear of mediocrity to motivate his self-development. When that happened, he took what he was reading and learning and taught others.

 

His students were getting better, and he was getting better. The results started to speak for themselves. This led to the opportunity to co-found the now billion dollar company, Quest Nutrition, which ultimately led to his ability to establish his dream, The Impact Theory.

 

With the success of Quest Nutrition, he had now proven what he believed was right, and his research had led him to grow and improve his own filmmaking skills. With The Impact Theory, he uses entertainment and education to empower others. All while making money, a valuable resource.

 

What is your biggest fear? What is holding you back from self-development? Do not allow the fear of mediocrity handicap you, but allow it to push you forward. 

 

Curious to hear more about Tom’s journey? Click here to listen to the full interview.

 

Jeff Hoffman

 

Jeff Hoffman is no stranger to the world of entrepreneurship. Since his days at Yale, Jeff has been a part of multiple successful startups including most notably the billion dollar company Priceline.com. 

 

Read on to learn from the beneficial advice he gives on entrepreneurship. 

 

Entrepreneurship Works When You Have a Problem to Solve

 

When entering the business world as an entrepreneur, you have to have a passion to solve an issue found in the world around you. 

 

The desire to be an entrepreneur is not enough when you do not have an idea of what you want to fix. 

 

The road to success starts with what Simon Sinek commonly refers to as the Golden Circle. I highly recommend listening to this portion of his popular TED Talk given several years ago. 

 

Without stealing Simon’s thunder, one simply must have a Why, How, and What to find a successful place in any industry. 

 

Jeff was a part of a company long before Priceline that gave him a look into the travel industry. He discovered a problem. And not just any problem, but one he was passionate to solve. 

 

This passion is what fuels the fire to succeed. When Jeff became interested in making the travel industry more efficient, there was really nothing standing in his way. He would be a part of the solution. 

Jeff believed travel was important for the joy and fulfillment of a person’s life, and he personally had a goal to visit 50 countries in his lifetime. This made the issue personal, and he wanted to help make the change possible.

 

For anyone who has the desire to jump into the field of entrepreneurship, do it! But start with finding the problem you are passionate enough about to pursue the solution at all costs. 

 

Give Back

 

This may seem obvious, but when you have knowledge, success, and even wealth, it is important to keep the mindset of helping others. 

 

No one gets to where they are going completely alone. No matter how big or small the gesture, we get where we are going with at least a little help from someone. Someone who listened, who taught, who gave, who critiqued, or who partnered with you. 

 

Yes, there are self-made millionaires and billionaires who got to where they are because of the work they put in. But they too, read something or heard something or learned a valuable lesson that helped them along the way. 

 

Our world continues to move forward because those who have reached success desire to give back. 

Jeff personally took time away from each of his companies to mentor and teach those coming behind him. 

 

Personal opinion? The best leaders in any industry never lose sight of where they came from and how they got to where they are. They are grateful for the valleys and the mountain tops, and they truly believe they have not arrived until they can help the world be a better place. 

 

Inspired by Jeff’s story? Listen to his full interview here.

 

Conclusion

 

People often take advice with a grain of salt. Ultimately, no one’s words or suggestions can change your life. 

 

Only taking action can do that. Applying a mindset or habit to your life can greatly affect how well you do or do not succeed. 

 

I applaud you for reading this article. Simply because it means you have taken an action to learn more from others who have been successful in their field. 

 

Now it’s your turn to apply it. 

 

What piece of advice did you relate to the most? What valuable thought are you going to take with you into your next venture? 

 

Tell me in the comments below! I want to hear how this billion dollar advice helped you today!