How do successful entrepreneurs manage to do so much with their time?

I was reading the Forbes 2014 richest rapper list this year and I saw that P Diddy was on top of the list again this year. He's got a clothing line, a perfume line, a marketing company, a record label, a newly launched tv channel called Revolt and he part owns Circoc vodka!

The reason Im asking is that I run some dropshipping businesses and do some web development and I feel very weighted down with stuff to do sometimes, how do these guys keep it all together and keep going from strength to strength without losing focus?

Anyway, just a thought!

Ive learned alot from this site so far!

 

If you think "P Diddy" is running all of those ventures you are wrong - he lends his name, which makes them popular - sure, he has "input" and is the face - but they hire very successful people to run each venture. Not a bad gig. Time management plus the ability to afford the best executives = success.

 

Yeah man it is all different divisions with separate management. Ha once some people
get so rich and own properties all over the world sometimes they do not even know some
of the things they own. Oh I own this?....cool

 

What net money said ^^^

They hire the top professionals in each industry to run and manage each of their ventures and then use their image and name to endorse and be the face of the brand, which works and is quite smart indeed!

 

1% of our activities bring 50% of results. Focus on that 1%.
http://en.wikipedia.org/wiki/Pareto_principle

 

I would rather brand it as common sense instead of smart. It should not take to much brains to
say you don't know shit about a business so you hire in someone else successful and oh wait I am
popular so I will head it off with some promos and commercials.

A lot guys on this forum have smarter ideas.

 

Really, he is just leveraging his money. He invests his money in various ventures and uses his brand to make them successful.

As an entrepreneur you evolve, and learn to outsource tasks in order to create more time for new activities.

 

That is true! But even being the face of several large successful companies, would that not involve alot of day-to-day general haranguing from people no? Ive read a few interviews from people within the the music and fashion industrys who say that he works very hard, sleeping only a few hours at a time

 

Once you able to get into Forbes listing, you will never need to work, but instead plans and deploy of suitable persons to various positions and let them work hard for you.

 

As indicated, time management is one of the more important factors to success, or lack there of.

 

As a business owner, I find my productivity has been increasing as I get better at managing my time and writing my list. Many times the list comes out in the right order and they help me prioritize my efforts when working on multiple tasks.

Usually, I will manage my time with Replicon's time recording software and all I can tell is that this application is one of the best tools I?ve ever used. Let all the fellow businesspeople who?re in search of a good app could benefit from this.

 

I have seen most of the entrepreneur are concerned about the time and they know the value of time practically. Managing the things in the right perspective and getting it done up with respect to the time format helps attain the maximum limit to get the maximum out of it. I work for a firm and we have been using hours tracking tool from Replicon for maximizing the productivity.

 

As a number of people said they license their name / brand.

The wealthiest of these type of guys that I am aware of is Richard Branson. He is a UK billionaire who owns the Virgin brand.

To name but a few things he has:
A Train Company
An airline
A Cruise line
A TV Company
An Internet Company
A Radio Staion
A record Label
A Bank

And loads of others I cannot think of.

If he genuinely owned and managed them all he would easily be the richest man in the world.

But he doesn't... he simply licences out the Virgin brand in return for a % and lives on the proceeds on his private island paying 0% tax!

 

Exactly what netmoney said. They do own the business and its their name on which the business is running upon but its not exactly the same person who is handling the person. And yes, it does happens sometimes with them that they themselves forget about one or two of the enterprises they own, this doesn't happens generally but it does in the long run.

And its not really humanly possible for one person to manage all those himself hence all those big rich entrepreneurs have got lots of expert managers and professional assistants who take care of their biz and the owners just have to look out for them once or twice and ask for the reports.

 

Plan everyday the night before.
Target fewer, more specific goals.
Go to bed early, get up early.
Learn how to outsource, and delegate effectively.

FPS

 

All true Gringo

However he's done rather good from starting with a Student Magazine from a basement, then onto his record label.

As for him living on his Island ( There not the Virgin Islands are they!! ) and paying no Tax then to me that sucks a bit
as us normal guys have to pay are dues, so why not the rich!

Mind you It's a different world up there amongst the Millionaires and Billionaires they all live by different rules and standards.

Andy

 

Do you think he makes perfume and designs clothes? He probably has nothing to do with it at all, other than say, put my name on it and the fools will buy.

 

Hey GringoMonkey

could you please p.m.me as If you wouldn't mind I think you may be able to help me
due to the kindle success you have had in such a short time ( I don't have enough post to P.M you !)

We have around 50 Kindle books up with more on the way, however we are only getting around a quarter of your income level !
and would like to maybe get to say 3 to 4 K per month for our next level.
could you help?

Thanks

Andy

 

He's sitting on a beach some where while all his paid employees manage almost everything for him.

 

just what Apple does now even after steve jobs is not there! branding at its best. Steve Jobs & Jony Ive designed Iphone, mass production began in China and some years later Apple became the most profitable company in the world.