Here's another school of thought too...

Hi Gordon, Jack, Sandy, and everyone....

Thanks, this is an interesting thread!

I recently purchased a new book here in Australia, called "Secrets of the Super Rich" by Dr. Michael Gilding. I'm not sure if this book is available outside of Australia. Dr. Gilding is a Professor at the School of Social and Behavioral Sciences at Swinburne University, here in Melbourne, Australia (where I live). He specializes in researching business-people and entrepreneurs.

This book summarizes the results of dozens of interviews he's had with billionaires and multi-multi-millionaires in Australia. Some of those he interviews are mentioned by their real names, others by pseudonyms (depending on their wishes).

A common theme comes up again and again.... Many of these super-entrepreneurs are driven to make money by feelings of insecurity.

This ties together the reason for high business success among many groups....

For example, here is a quote from the book.... [p. 60]:

One of the people I interviewed - I will call him Jared Cohen - reflects on the effect of the Holocaust on his father. Wealth accumulation, he remarks, "goes back to basic insecurity - the insecurity of the individual, the insecurity based on the background". Insecurity is "an unbelievable driver for performance".

Dr. Gilding finds that many self-made "super-wealthy" entrepreneurs have some period of difficulty in their childhood which gives them a feeling of insecurity they must overcome. There are experiences like the Holocaust, a father's death, bankruptcy, and other things. These entrepreneurs are driven to build wealth because of their fear of returning to those times of great hardship.

This idea rings true to me.... It helps to explain why there are so many very successful Jewish entrepreneurs (due to the experience of the Holocaust). It also helps to explain why so many new immigrants in general become successful business-people (since they feel insecure about their future in their new land).

I thought some here would find this interesting.... You can "experiment" with this. I've been "experimenting" with it myself, emphasizing in my mind the need for greater financial security, and thinking of the dreadful consequences if I don't attain it - with positive results so far. It certainly makes me work harder, and take more chances! Life is "less comfortable" when you do this (it's "harder" to relax and do nothing!), but it's an interesting "experiment"....

- Dien Rice


Get lots of great business ideas here!

what drives us?...good points Dien..something
to explore...I look at someone like Oprah
Winfrey and what drove her at a certain point
in her life was to "beat the odds": a "darker
woman of color" in the tv industry was not
suppose to do what she did....people are driven
to success for many different reasons. Could
it be many people who do not have drive may
not feel "a level of insecurity"?(for lack of
a better statement or word)...

I'm thinking of people who start businesses later
in life because of some "tragedy"...like the
woman who started the non-profit "Mothers against
Drunk Driving" only after a child was killed...

We hope it doesn't take a tragedy to get motivated
but your comments certainly raise an important
issue to consider...

What drives you? What motivates you? Do you have
a service or business can help people? Do you
want to help people? Do you have a personal
goal which is strong enough to propel you into
action?

Hi Gordon, Jack, Sandy, and everyone....

> Thanks, this is an interesting thread!

> I recently purchased a new book here in
> Australia, called "Secrets of the Super
> Rich" by Dr. Michael Gilding. I'm not
> sure if this book is available outside of
> Australia. Dr. Gilding is a Professor at the
> School of Social and Behavioral Sciences at
> Swinburne University, here in Melbourne,
> Australia (where I live). He specializes in
> researching business-people and
> entrepreneurs.

> This book summarizes the results of dozens
> of interviews he's had with billionaires and
> multi-multi-millionaires in Australia. Some
> of those he interviews are mentioned by
> their real names, others by pseudonyms
> (depending on their wishes).

> A common theme comes up again and again....
> Many of these super-entrepreneurs are driven
> to make money by feelings of insecurity .

> This ties together the reason for high
> business success among many groups....

> For example, here is a quote from the
> book.... [p. 60]:

> One of the people I interviewed - I will
> call him Jared Cohen - reflects on the
> effect of the Holocaust on his father.
> Wealth accumulation, he remarks, "goes
> back to basic insecurity - the insecurity of
> the individual, the insecurity based on the
> background". Insecurity is "an
> unbelievable driver for performance".
> Dr. Gilding finds that many self-made
> "super-wealthy" entrepreneurs have
> some period of difficulty in their childhood
> which gives them a feeling of insecurity
> they must overcome. There are experiences
> like the Holocaust, a father's death,
> bankruptcy, and other things. These
> entrepreneurs are driven to build wealth
> because of their fear of returning to those
> times of great hardship.

> This idea rings true to me.... It helps to
> explain why there are so many very
> successful Jewish entrepreneurs (due to the
> experience of the Holocaust). It also helps
> to explain why so many new immigrants in
> general become successful business-people
> (since they feel insecure about their future
> in their new land).

> I thought some here would find this
> interesting.... You can
> "experiment" with this. I've been
> "experimenting" with it myself,
> emphasizing in my mind the need for greater
> financial security, and thinking of the
> dreadful consequences if I don't attain it -
> with positive results so far. It certainly
> makes me work harder, and take more chances!
> Life is "less comfortable" when
> you do this (it's "harder" to
> relax and do nothing!), but it's an
> interesting "experiment"....

> - Dien Rice

Hi Sandy,

I think Oprah Winfrey fits the pattern....

She came from a background of insecurity and hardship (poverty). I'm sure her race also made her feel that the odds were against her, which would add to the feelings of insecurity in her industry which she probably had....

I think in these kind of circumstances, people can generally have two reactions.... They can have a feeling of resignation, that "it's no use", and they give up.... The other reaction is they work harder than everyone else does to succeed.

I'm sure in Oprah's case, she worked harder than probably anyone else to achieve the success she's had. How she transformed a routine talk show her very uplifting and inspirational TV show is quite remarkable - I have no doubt she put a lot of effort into creating that transformation!

From what I know of her, Oprah seems to fit the pattern.... She had some great hardship in her childhood, and probably her hard work towards success is driven by a need to find "security" from the danger of returning to those times of hardship.

Anyhow, that's a possible theory!

Not every highly successful entrepreneur fits this pattern, but according to Dr. Gilding's study, it seems that quite a lot of them do....

Interesting, isn't it?

Another thing Dr. Gilding found is that many of the entrepreneurs he interviewed were hesitant about talking about their times of hardship and insecurity in their childhoods.... Instead, it was something he happened to "stumble" upon. This could by why this has often been overlooked.

- Dien

Some great perspectives.

Another prime example of the "insecurity motivator" is one of the richest men in Hong Kong. In brief - he went to work during his teens to support his family after his father passed away. Despite limited schooling and resources he is now one of the richest men in the world (Ranks amongst top 30 of Forbes World's Richest List) and one of the few true business legends in Hong Kong and Asia. (Feel free to email me if you want to know who I'm talking about.)

Another perspective on this is given by Michael Ross in his Success Report. I enjoyed it and it certainly gave me something to think about. Highlighting a very different driver of performance, it may be of help to those interested in getting that edge to help them achieve more.

To your success,
Brian

> Hi Sandy,

> I think Oprah Winfrey fits the pattern....

> She came from a background of insecurity and
> hardship (poverty). I'm sure her race also
> made her feel that the odds were against
> her, which would add to the feelings of
> insecurity in her industry which she
> probably had....

> I think in these kind of circumstances,
> people can generally have two reactions....
> They can have a feeling of resignation, that
> "it's no use", and they give
> up.... The other reaction is they work
> harder than everyone else does to succeed.

> I'm sure in Oprah's case, she worked harder
> than probably anyone else to achieve the
> success she's had. How she transformed a
> routine talk show her very uplifting and
> inspirational TV show is quite remarkable -
> I have no doubt she put a lot of effort into
> creating that transformation!

> From what I know of her, Oprah seems to fit
> the pattern.... She had some great hardship
> in her childhood, and probably her hard work
> towards success is driven by a need to find
> "security" from the danger of
> returning to those times of hardship.

> Anyhow, that's a possible theory!

> Not every highly successful entrepreneur
> fits this pattern, but according to Dr.
> Gilding's study, it seems that quite a lot
> of them do....

> Interesting, isn't it?

> Another thing Dr. Gilding found is that many
> of the entrepreneurs he interviewed were
> hesitant about talking about their times of
> hardship and insecurity in their
> childhoods.... Instead, it was something he
> happened to "stumble" upon. This
> could by why this has often been overlooked.

> - Dien

Hi,

"Fear, pain and hard work are three of your best friends."

- Boyd

A while back on one of the post
Boyd, you said something about not
knowing what to do or not having
found what you wanted to do ...I
wonder if you know what you want
to do and are resistant for some
reason in doing it?

Barbara Sher,an author on finding what
you love, thinks most people know what
they want to do but minimize it's importance
or they feel they don't have the "skills"
to do it...Does the same hold true for you?
by the way her suggestion is to "do what ever
that is" and "to hell with what people think":
she suggests you take one step at the time.
Her reasoning is that if you're remotely interested in this thing then intuitively this
is what you should be doing...

What are your thoughts on this? I know your
answer will be enlightening ...

Thanks Sandy...

> "Fear, pain and hard work are three of
> your best friends."

> - Boyd

Hi,

Thank you--I'm flattered that you asked.

You wrote:
> A while back on one of the post
> Boyd, you said something about not
> knowing what to do or not having
> found what you wanted to do ...

Last night what I want to do finally jelled. I was easily able to write a mini business plan this morning, and I feel centered and calm about it, unlike the conflicted and angry way I've been in the past. It's not ultra-grandiose like the other plans I've made and I see how the parts link together.

You wrote:
> I
> wonder if you know what you want
> to do and are resistant for some
> reason in doing it?

Up until now I haven't known what I wanted to do. I assumed most people were like that and only the lucky few knew (like, say, Jodie Foster) knew what they wanted to do from a very young age. Maybe somewhere in my head I knew what I wanted to do but I created conflicts within myself that kept me from knowing what I knew.

You wrote:
> Barbara Sher,an author on finding what
> you love, thinks most people know what
> they want to do but minimize it's importance
> or they feel they don't have the
> "skills"
> to do it...

She may well be right, I always assumed most people were like me but that was just an assumption.

You wrote:
> By the way her suggestion is to "do
> what ever
> that is" and "to hell with what
> people think."

I'm glad to hear that because there are some things I wanted to do that I was afraid to do because of what people might think. But they can be done at a later date when the timing is right.

You wrote:
> she suggests you take one step at the time.
> Her reasoning is that if you're remotely
> interested in this thing then intuitively
> this
> is what you should be doing...

That sounds right to me--follow your intuition and creep up on what you should be doing.

Thank you very much for the question, I only hope what I write helps people and doesn't confuse the issues or throw people off track. I have good intentions about what I post, but you know the old saying about good intentions......

Best,

- Boyd