"I Got RICH When I Started DOING THIS!" (Copy These Billionaire Habits) | Tilman Fertittia
Tom Bilyeu・34 minutes read
Fertitta stresses the importance of removing "no" from one's vocabulary, excelling in any role, and continuous improvement to achieve success, highlighting his rise from a single restaurant owner to a billionaire entrepreneur with a vast business empire. He advocates for a mindset of outperforming others, focusing on consumer satisfaction, and understanding the cyclical nature of success and failure, emphasizing the value of surrounding oneself with the right people and constantly pushing forward.
Insights
- Tillman Fertitta stresses the importance of excelling in any role by adopting a mindset of outperforming others, emphasizing the 95-5 rule to stand out and succeed, regardless of the position held.
- Fertitta's journey from a single restaurant owner to a global business mogul with various ventures underscores the significance of continuous learning, surrounding oneself with the right people, and maintaining a relentless focus on consumer satisfaction to achieve remarkable success in business.
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Recent questions
How does Tillman Fertitta suggest achieving success in business?
Tillman Fertitta emphasizes the importance of removing the word "no" from your vocabulary and focusing on customer satisfaction. He advocates for excelling in any position you hold, whether in the mailroom or behind a camera, by adopting a mindset of outperforming others. Fertitta also stresses the significance of knowing your strengths, continuously learning, and surrounding yourself with the right people and companies to achieve success.
What is Tillman Fertitta's journey to becoming a successful restaurateur?
Tillman Fertitta started with a single restaurant in Katy, Texas, and expanded his business to become the world's richest restaurateur with 600 restaurants in 36 states and 15 countries. His business empire includes landmark restaurants like Mastro Steakhouse and Rainforest Cafe, along with hotels, casinos, and the Houston Rockets NBA franchise. Fertitta is recognized for his philanthropic work and serves over 150 million customers annually.
What advice does Tillman Fertitta give for overcoming challenges in business?
Tillman Fertitta advises always worrying about potential challenges, staying focused during adversity, and understanding the cyclical nature of success and failure. He emphasizes the importance of perseverance, continuously pushing forward, and knowing what you excel at. Fertitta also stresses the significance of learning about various business departments and understanding technology and all aspects of a company.
How does Tillman Fertitta mentor his children in business?
Tillman Fertitta mentors his children in business by teaching them decision-making across various departments. He emphasizes key business principles such as knowing numbers, focusing on consumer satisfaction, and not assuming anything. Fertitta draws parallels between business and sports, advocating for high standards, attention to detail, and finding the crucial five percent for improvement.
What motivates Tillman Fertitta in his career and business endeavors?
Tillman Fertitta finds motivation in setting goals, conquering challenges, and constantly pushing himself to achieve more. Despite significant success, he remains driven to reach higher levels, always seeking the next step in his journey with a focus on continuous improvement and growth. Fertitta views his work as a sport he enjoys every day, emphasizing the importance of hard work, perseverance, and negotiation tactics in pursuing success.
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Summary
00:00
Tillman Fertitta: Success Through Perseverance and Excellence
- Tillman Fertitta emphasizes using basic tools for success, like removing the word "no" from your vocabulary and focusing on the customer.
- He advocates for the 95-5 rule, separating yourself from others by excelling in whatever position you hold.
- Fertitta encourages being the best in any role, whether in the mailroom or behind a camera, by adopting a mindset of outperforming others.
- His journey from owning a single restaurant in Katy, Texas, to becoming the world's richest restaurateur with 600 restaurants in 36 states and 15 countries is highlighted.
- Fertitta's business empire includes landmark restaurants like Mastro Steakhouse and Rainforest Cafe, along with hotels, casinos, and the Houston Rockets NBA franchise.
- He is a significant employer with 60,000 employees and serves over 150 million customers annually, ranking 153 on the Forbes 400 list of wealthiest Americans.
- Fertitta is recognized for his philanthropic work, serving as chairman of various organizations like the Houston Police Foundation and the Texas Heart Institute.
- He shares his experience of persevering through tough times in the late '80s, facing multiple bank failures but managing to keep his business afloat by continuously pushing forward.
- Fertitta's advice includes always worrying about potential challenges, staying focused during adversity, and understanding the cyclical nature of success and failure.
- He stresses the importance of knowing what you excel at, continuously learning, and surrounding yourself with the right people and companies to achieve success.
14:34
Business Success Through Understanding and Improvement
- The speaker analyzes business numbers to determine margins and advises on improving net worth.
- Emphasizes the importance of understanding one's God-given gifts for career success.
- Recommends knowing economics, finance, and business operations for success, suggesting an MBA may be necessary for some.
- Stresses the significance of learning about various business departments, including information technology.
- Encourages understanding technology and all aspects of a company, even if not an expert in each area.
- Highlights the value of learning from others in different departments to appreciate their roles.
- Mentors his children in business by teaching them decision-making across various departments.
- Key business principles include knowing numbers, focusing on consumer satisfaction, and not assuming anything.
- Draws parallels between business and sports, emphasizing the importance of finding the crucial five percent for improvement.
- Advocates for high standards, attention to detail, and separating oneself from others in any position for success.
28:11
Driven Male Carrier Seeks Continuous Growth
- The individual behind the camera aims to excel in their field, striving to be the best male carrier, highly organized, and professional in their approach to any task.
- They find motivation in setting goals, conquering challenges, and constantly pushing themselves to achieve more, viewing their work as a sport they enjoy every day.
- Despite significant success, the individual remains driven to reach higher levels, always seeking the next step in their journey, with a focus on continuous improvement and growth.
- Emphasizing the importance of hard work and perseverance, the individual shares insights on negotiation tactics, highlighting the value of outworking others and being prepared for rejection in pursuit of success.
