25 January 2024

Creating Success: Uncovering the Secrets of a Billionaire’s Mind

By Ronald Smith

When it comes to acquiring valuable knowledge about achieving success, Built Not Born is like having a personal session with a billionaire mentor. It’s an extraordinary gem that deserves five stars!

Creating Success: Uncovering the Secrets of a Billionaire's Mind

If you buy something from our partner links, we could earn money. Want to know more? Keep reading.

Have you ever wondered if the advice from a billionaire could help you as a small business owner or entrepreneur?

That’s usually my first thought when I read a book written by someone incredibly successful. Sometimes their advice is relevant and helpful, but more often than not, it’s not.

Luckily, Built Not Born is one of those rare books that is both relevant and useful. In fact, it’s extremely valuable.

A Review of Built Not Born

If you’re an entrepreneur or business owner with a burning desire to do better, you absolutely must read this book. I promise you’ll come away with insights that will make your business more successful and make you a more effective owner.

And guess what? You won’t have any trouble understanding the advice. The way it’s written is just plain and practical. It’s exactly how most small business owners talk. Plus, the book is organized in a logical way and super easy to follow. Trust me, you’re gonna love it!

Getting Inside the Mind of a Billionaire

If you’ve ever wanted to get inside the mind of a billionaire, this book gives you that exact experience.

Built Not Born: A Self-Made Billionaire’s No-Nonsense Guide for Entrepreneurs is exactly what the title suggests.

On one hand, the book tells the story of the author’s very own journey in business. It’s packed with memories from his amazing 50 years in the industry.

But it’s not a typical biography. The author cleverly uses these stories from his own business career to highlight important lessons for entrepreneurs like you.

Built Not Born (HarperCollins, 2020) by Tom Golisano is a book that offers business advice. It’s like having a billionaire mentor guiding you through the pages.

Who is Tom Golisano?

So, who exactly is Tom Golisano and how did he become a billionaire? Well, he’s the person who started Paychex, a big payroll service.

Golisano has the experience and knowledge to write this book because he started as an entrepreneur himself. He says, Unlike many other books out there, what I’m going to share with you in these pages is not just theory. I’m going to tell you what I learned when I took a simple business idea with $3,000 and a credit card, and turned it into one of the biggest and most profitable companies in America.

Today, Paychex (PAYX on NASDAQ) has a value of $30 billion. Not bad for an initial investment of just $3,000, right?

I had heard of Golisano before because I live in Naples, Florida. We have a Golisano Children’s Hospital here that is supported by the author’s charitable foundation. That’s why I was initially drawn to the book when I received an advance review copy from the publisher.

However, what kept me engrossed was what I discovered when I started reading it. But before I get into that, let me tell you a little more.

Golisano enlisted the help of ghostwriter Mike Wicks, who I think was a great choice. Wicks has experience writing instructional books for small business owners. I checked out his website and saw that he has written several books on starting and growing a business.

Creating Success: Uncovering the Secrets of a Billionaire's Mind

Why You Should Give Built Not Born a Read

Let me tell you why Built Not Born is worth your time. It’s written by Golisano, who has a practical approach that really sets this book apart. It covers all the important topics that keep business owners up at night. You’ll find sections on things like:

  • Staffing (Hire for Attitude, Train for Skill, Fire When Necessary)
  • Making sales (It’s Not a Cash Flow Problem — It’s a Sales Problem)
  • Business models (Would You Buy What You Sell?)
  • Finances (Money Matters)
  • Mistakes in business (Regrets, I’ve Had a Few)

Now, when I crack open a book for the first time, I usually just flip to a random page. And guess what? This time, I happened to land on page 16, and boy, did it grab my attention right away.

Take a look at this page with a cool table called Annual Overhead on a Small Store. You can see it in the image above. This table shows a clever way to figure out if a business can make money. You know what the founder, Golisano, says? He thinks you should be able to think about how a business can make a profit on just one page of paper!

And guess what? That’s exactly what he did! Golisano made a chart that shows the main costs of running a small store. Then, he figured out how many sales the store would need to make a profit. And get this, he explained it all in just three paragraphs!

No fancy jargon or big words. Just straight to the point.

In this book, I want to share with you why having business skills is so important. I believe that being an entrepreneur is exciting, but it takes more than just passion to be successful. I’ve learned that sometimes, being too passionate can cloud our judgement and lead us astray.

Gems of Wisdom for Small Business

Created Not Born is filled with little gems of knowledge sprinkled throughout, sometimes with a touch of dry humor.

For example, I mention that almost any company that charges by the hour is risky for your finances. If you’ve ever hired a law firm or a PR agency that bills you by the hour, you probably understand exactly what I mean!

One of the highlights of the book is a section called Takeaways. At the end of each chapter, I summarize the key points in around seven to 10 bullet points.

When it comes to reading this book, there are a couple of ways you can approach it. One option is to start by looking at the Takeaways section at the end of each chapter. This way, you can find the specific topics that interest you and then read the corresponding sections.

Alternatively, you can choose to read the book from beginning to end in the traditional way. There’s nothing wrong with that approach either.

Other Thoughts on Built Not Born

By now, I hope you’ve gathered from this review that Built Not Born is an excellent book for business. However, I often find myself wanting to hear more from the author. When an author is talented, it’s natural to want more. Two things come to mind:

  • Technology: Getting Golisano’s advice on when and how to use technology would have been helpful. Nowadays, technology is crucial for small businesses to increase their profits. Without the right technology, you may end up disappointing your customers. Let’s imagine that you own a boutique e-commerce business. In today’s world, customers expect recommendations for related products and quick deliveries, just like on Amazon. Do you have the necessary technology to meet these expectations? Can you afford to not give it a try?

Why You Should Read Built Not Born

If you’re looking to expand your business, save money, and make a profitable future, Built Not Born is the book for you! It’s full of valuable insights and strategies that can help you succeed.

Let’s talk about taxes. Taxes might not be the most exciting topic, but understanding tax deductions and credits can actually help you find the money you need to invest in your business. Don’t just focus on what you make, focus on what you keep. By utilizing certain tax strategies, like the 20% ‘Qualified Business Income Deduction’, you can make a significant difference in your finances. Imagine having more money to invest in your future instead of writing big checks to the IRS.

Unfortunately, the book doesn’t dive deep into this aspect, but it’s still worth a read. Perhaps Golisano will write a follow-up book that covers important topics like tax planning and business expansion in more detail. But for now, Built Not Born gives you a great starting point to build your business and secure a profitable future.

If you’re an entrepreneur, a seasoned business owner, or even an aspiring entrepreneur, this is the book for you. Trust me, whether you’re just starting out or you’ve been in business for as long as I have (that’s 16 years!), there’s always something new to learn. And who better to learn from than someone who’s been through it all?

Introducing Built Not Born! This amazing book is now available for pre-order and will be hitting the shelves in February 2020. And that’s not all – you can even get it in audio format for an immersive experience.

Oh, and here’s a little tip: with an Audible Premium Plus membership, you’ll not only get great discounts, but you’ll also have access to a wide range of new and classic business books. Pretty cool, right? So why wait? Start your learning journey today by signing up for an account.