UK Billionaire John Caudwell became incredibly wealthy due to a boring lifestyle and focusing on his mobile phone retailer, Phones 4u.
“I’ve been able to work very long hours my entire life,” he said on the “Simon Squibb” YouTube channel.
He then shared the key habits that turned him into one of the wealthiest people in the U.K.
However, a strong commitment to business wasn’t the only thing that turned him into a success. There were several habits that helped him thrive behind the scenes.
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Caudwell embraces consistent habits and routines, but he still takes risks and has an adventure mindset. Tackling new challenges can be exciting, and Caudwell believes an adventure mindset can enhance your life.
“It’s almost the elixir of life,” he said about having an adventure mindset.
However, Caudwell doesn’t pursue new projects just for the sake of it. He crunches the numbers and assesses each opportunity before committing to it. That way, he’s taking a calculated risk instead of a reckless gamble.
“Too many people take risks that are not likely to pay off,” he said.
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You can take calculated risks without a team and go on solo adventures, but you’ll get more done if you build a circle of excellence around your company. That means hiring and retaining top talent while building your network.
“Look for somebody that’s better than you,” he said on the “Simon Squibb” YouTube channel.
You don’t have to find someone who can do everything better than you can. Caudwell is an advocate of looking for people who do specialties better than you. For instance, you may be good at creating marketing campaigns, doing sales calls, and responding to emails. It may be hard to find someone who can do all three of those things better than you, but you can find three people who can each do one of those things better than you.
Look for people who are highly skilled at one thing that you need help with. It’s okay to be a generalist, but Caudwell believes your team should include specialists.
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Caudwell brought up the importance of good fitness and health multiple times in the interview. He views it as an essential piece of building a successful business.