The magnates' philosophy: How the tycoons think by joelagbo

View this thread on steempeak.com
· @joelagbo ·
$0.62
The magnates' philosophy: How the tycoons think
![600x.jpg](https://img.whaleshares.io/wls-img/trailblazer/5bda8667878f8776a15a4e55cb3a7e17ce90789b.jpeg)
[source](https://bigthink.com/10-philosophers-on-if-money-can-make-you-happy-2605012835.amp.html)

<sup>
Being successful in any business also comes with much expectations, much exposure and much cautiousness as every successful business man breaks into limelight and every aspect of their life are being watched and studied for a possible criticism or on the positive side, for a possible lesson. People always seek to learn from the successful ones and are also eager to criticise them as this brings a feeling of equality and settles man’s ego. Hence the magnate/tycoons are overly cautious of their lifestyle as they are objects of learning and also objects of criticism, thus the need to create balance and maintain the giant stature and reputation in the society and in their line of business. 

<sup>
According to the lifestyle of popular business tycoons who have outlived the criticism and has led a life of lesson for young and determined business strategists, many lessons as regards their lifestyle and their philosophy have been learnt and will be discussed, however this article won’t make strict reference to any of these figures as these lifestyles are common amongst several business magnates after some strict comparisons. Here we present you, the magnates philosophy on:

https://img.esteem.ws/1hjzzl8jr5.jpg
[source](https://hrsoft.com/blog/7-key-tactics-communicating-total-rewards/ )

<h6>INVESTMENT</h6>

<sup>
*Never put all your eggs in one basket*; yes, this everyday quote comes handy for every successful strategist, in material investment as well as human investment, there’s the importance to diversify and cast your spells across different spheres of investment and refrain from putting all your cards in just one slot, even an intelligent gambler learns to stake just a part of  his net worth and ensure a stronghold in case of a mishap regardless of how confident he is on the odds of the probability. For every magnate, this is the same, investments should be diversified and there should be a very serious thought and calculation before going *all in* on any business, the success of any business only gives a magnate the opportunity to diversify and not to monopolize the particular trade line. The success of facebook gave birth to Instagram and purchase of WhatsApp, by same man, even though facebook blossomed and has much potentials, the CEO only saw this period of boom as an opportunity to invest on something new, even though they are related, this can also be seen in the success story of *Elon Musk* as he continuously diversifies his investment and moves with the tides on new developments. Even in human relationship as regards business interaction, business magnates also applies this and rarely entrust any employee with absolute duties, and hence the slogan *no one is indispensable*, unfortunate, but a plain truth. 

<h6>SPENDING</h6>

![think_big_feature.jpg](https://whaleshares.io/imageupload_data/73f0213b303383d2c8e34ab15b22cbd65920dbac)
[source](https://www.coldlight.co.uk/portfolio_page/think-big/)

<sup>
*If you spend so much money buying what you don’t need, soon you might have to sell the things you need*; magnates have much propensity to spend and the fact that they have much to spend only comes with more risk as the responsibility to determine the right things to spend on also takes a tool on them as the value of things keeps fluctuating, thus there’s the need to determine just the right assets that will go up in value with time, however having much to spend, one also falls into the temptation of glamour and the urge to go *shiny*, thus many rich people tend to buy more of jewelries, yatch, boats, cars and clothings. According to an architectural magnate:

>A boat worth $50million, goes down to worth of 45m$ after its first couple of journey, this goes further down within the first three quarters and within five years, your boat is worth just about $20million, but when you buy a house, the value goes opposite that of the boat. 

<sup>
Due to this fact, most tycoons shares the same philosophy when it comes to spending, what they buy, how they buy them and how they mange these purchases to ensure that the value is retained over time is a matter of great importance, most popular tycoons rarely buys deeply into fashion, fleets of cars, and other goods of short term value as they seek to sell these assets when the days gets rainy. 

<h6>PHILANTHROPY</h6>

<sup>
*uncalculated philanthropy leads to a heavy loss of value of the goods given away, and also the people’s mindset about the giver*; there are many explanations to the quote above, as it appears to mean many things. During King Musa Mansa’s reign, he embarked on the compulsory pilgrimage to Mecca as any other prestigious Muslim, with his affluence and wealth at that time, he gave out gold to beggars along the route to Mecca, this massive give away of ferocious amounts of gold led to huge slump in the price of gold and the first time in the history of business where only one man’s act had very enormous effect on the world’s economy. 

<sup>
Having a lot of money and valuable assets will always prompt a good willed tycoon to give out to the needy and satisfy their altruism, this also comes with responsibilities as regard the right time to give, the right people to give and the right thing to give, as not everyone needs money and not everyone needs clothings, giving out a clothings to people who needs money, is a total miss and results in devaluation of your efforts and a possible criticism follows, to maintain this *unstained* reputation, tycoons always thinks extensively before determining what their philanthropy foundation will be handing out to the public, when and who they give out to is also planned accordingly. 

<h6>Risk Taking</h6>

<sup>
This is almost same as their philosophy on investments, but in addition to this, they also share the trait of boldness in risk taking having diversified and made possible calculations on the weight of their loss and the possible height of their success, a business magnate has very little reluctance on investment and rarely turns down the opportunity of swinging into new adventures, hence they take risk and most times,  **they damn the consequences**!

<h6>Employment and dominance</h6>

<sup>
*Your employment and management skills determines your mainstay in your business*; To dominate, there’s the need to employ competent hands and organise them in a way which makes them work with their full potentials and with a given freedom which enables them put into work all their skills and also with motivation and employee benefits which keeps them happy while they work in your business set up. Internal struggles and stained employer-employee relationships is the onset of collapse of any business set up, regardless of how huge and diversified they might be, thus every tycoon tries hard to impress their staffs as the staffs also works hard to ensure that their employers are impressed. 

<sup>
As already stated, the study of the skills of very successful business men serves a double purpose, either for criticism or for possible lessons, fortunately, this article have centered on the possible lessons to learn from the tycoons and tips for starters and fast growing investors as this skills not only helps you remain at the top, it also helps you get to the top.
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
👎  
properties (23)
post_id65,863,470
authorjoelagbo
permlinkthe-magnates-philosophy-how-the-tycoons-think-44da1c11cc32b
categoryphilosophy
json_metadata{"tags":["philosophy","esteem","wafrica","business","gratefulvibes"],"format":"markdown+html","image":["https:\/\/img.whaleshares.io\/wls-img\/trailblazer\/5bda8667878f8776a15a4e55cb3a7e17ce90789b.jpeg"],"app":"esteem\/1.6.0","links":["https:\/\/bigthink.com\/10-philosophers-on-if-money-can-make-you-happy-2605012835.amp.html","https:\/\/hrsoft.com\/blog\/7-key-tactics-communicating-total-rewards\/","https:\/\/whaleshares.io\/imageupload_data\/73f0213b303383d2c8e34ab15b22cbd65920dbac","https:\/\/www.coldlight.co.uk\/portfolio_page\/think-big\/"],"community":"esteem"}
created2018-11-11 16:17:24
last_update2018-11-11 16:17:24
depth0
children2
net_rshares773,525,233,923
last_payout2018-11-18 16:17:24
cashout_time1969-12-31 23:59:59
total_payout_value0.459 SBD
curator_payout_value0.156 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length7,492
author_reputation107,151,930,523,760
root_title"The magnates' philosophy: How the tycoons think"
beneficiaries
0.
accountesteemapp
weight1,000
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (52)
@esteemapp ·
Thanks for using **eSteem**! <br>Your post has been voted as a part of [eSteem encouragement program](https://steemit.com/esteem/@good-karma/encouragement-program-continues-82eafcd10a299). Keep up the good work! Install [Android](https://play.google.com/store/apps/details?id=com.netsolutions.esteem), [iOS](https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=1141397898&mt=8) Mobile app or [Windows, Mac, Linux](https://github.com/esteemapp/esteem-surfer/releases) Surfer app, if you haven't already!<br>Learn more: https://esteem.app <br>Join our discord: https://discord.gg/8eHupPq
properties (22)
post_id65,864,353
authoresteemapp
permlinkre-20181111t103956955z
categoryphilosophy
json_metadata{"tags":["esteem"],"community":"esteem.app","app":"esteem\/1.0-welcome","format":"markdown+html"}
created2018-11-11 16:39:57
last_update2018-11-11 16:39:57
depth1
children0
net_rshares0
last_payout2018-11-18 16:39:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length599
author_reputation396,075,316,369,469
root_title"The magnates' philosophy: How the tycoons think"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@wafrica ·
Hello! I find your post valuable for the wafrica community! Thanks for the great post! We encourage and support quality contents and projects  from the West African region.<br>Do you have a suggestion, concern or want to appear as a guest author on WAfrica, join our [discord server](https://discord.gg/AfFUhnC) and discuss with a member of our curation team.<br>Don't forget to join us every Sunday by 20:30GMT for our Sunday WAFRO party on our [discord channel](https://discord.gg/AfFUhnC). Thank you.
properties (22)
post_id65,866,812
authorwafrica
permlinkre-the-magnates-philosophy-how-the-tycoons-think-44da1c11cc32b-20181111t173640
categoryphilosophy
json_metadata{}
created2018-11-11 17:36:39
last_update2018-11-11 17:36:39
depth1
children0
net_rshares0
last_payout2018-11-18 17:36:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length503
author_reputation38,213,975,622,361
root_title"The magnates' philosophy: How the tycoons think"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000